KVLE vs. OBOR

Last updated Jun 25, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and OBOR (KraneShares MSCI One Belt One Road Index ETF) are both exchange-traded funds - KVLE is a Large Cap Value Equities fund tracking the 3D/L Value Line Dynamic Core Equity Index, while OBOR is a Emerging Markets Equities fund tracking the MSCI Global China Infrastructure Exposure. Both are passively managed. Over the past 5 years, KVLE returned 10.02%/yr vs 0.17%/yr for OBOR. At a 0.41 correlation, their price movements are largely independent. KVLE charges 0.56%/yr vs 0.79%/yr for OBOR.

Performance

KVLE vs. OBOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and KraneShares MSCI One Belt One Road Index ETF (OBOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KVLE achieves a 9.90% return, which is significantly higher than OBOR's -2.21% return.

KVLE

• 1D: 0.58%
• 1M: 0.76%
• YTD: 9.90%
• 6M: 8.40%
• 1Y: 17.26%
• 3Y*: 14.58%
• 5Y*: 10.02%
• 10Y*: —

OBOR

• 1D: -1.91%
• 1M: -4.31%
• YTD: -2.21%
• 6M: -2.99%
• 1Y: 12.55%
• 3Y*: 10.40%
• 5Y*: 0.17%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KVLE vs. OBOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KVLE KFA Value Liner Dynamic Core Equity Index ETF	9.90%	9.34%	18.25%	10.49%	-5.96%	28.01%	1.71%
OBOR KraneShares MSCI One Belt One Road Index ETF	-2.21%	27.86%	8.55%	-7.91%	-21.96%	17.06%	9.14%

Correlation

The correlation between KVLE and OBOR is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Nov 24, 2020	0.41

KVLE vs. OBOR - Sectors Allocation Comparison

Sectors	KVLE	OBOR
Technology	31.4%	-
Financial Services	12.2%	23.1%
Real Estate	11.8%	-
Consumer Cyclical	9.4%	0.4%
Healthcare	9.3%	0.2%
Industrials	8.9%	25.1%
Consumer Defensive	6.6%	-
Energy	4.4%	8.5%
Communication Services	4.1%	0.2%
Basic Materials	1.3%	26.6%
Utilities	0.6%	14.1%

Return for Risk

KVLE vs. OBOR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KVLE

KVLE Risk / Return Rank: 47
KVLE Sharpe Ratio Rank: 50
KVLE Sortino Ratio Rank: 51
KVLE Omega Ratio Rank: 49
KVLE Calmar Ratio Rank: 40
KVLE Martin Ratio Rank: 46

OBOR

OBOR Risk / Return Rank: 22
OBOR Sharpe Ratio Rank: 23
OBOR Sortino Ratio Rank: 21
OBOR Omega Ratio Rank: 23
OBOR Calmar Ratio Rank: 22
OBOR Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KVLE vs. OBOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and KraneShares MSCI One Belt One Road Index ETF (OBOR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KVLE	OBOR	Difference
Sharpe ratio: Return per unit of total volatility	1.55	0.75	+0.80
Sortino ratio: Return per unit of downside risk	2.20	1.09	+1.11
Omega ratio: Gain probability vs. loss probability	1.28	1.15	+0.13
Calmar ratio: Return relative to maximum drawdown	1.81	0.92	+0.89
Martin ratio: Return relative to average drawdown	6.89	2.57	+4.33

KVLE vs. OBOR - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.55, which is higher than the OBOR Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of KVLE and OBOR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KVLE vs. OBOR - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum OBOR drawdown of -41.54%. Use the drawdown chart below to compare losses from any high point for KVLE and OBOR.

Drawdown Indicators

	KVLE	OBOR	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-41.54%	+23.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-13.72%	+4.13%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	-18.06%	+1.67%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	-34.00%	+15.62%
Current Drawdown Current decline from peak	-1.19%	-13.72%	+12.53%
Average Drawdown Average peak-to-trough decline	-3.19%	-15.94%	+12.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	4.90%	-2.39%

Volatility

KVLE vs. OBOR - Volatility Comparison

The current volatility for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) is 3.61%, while KraneShares MSCI One Belt One Road Index ETF (OBOR) has a volatility of 7.20%. This indicates that KVLE experiences smaller price fluctuations and is considered to be less risky than OBOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KVLE	OBOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	7.20%	-3.59%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	14.97%	-6.24%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	16.92%	-5.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	16.23%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	18.56%	-4.24%

KVLE vs. OBOR - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is lower than OBOR's 0.79% expense ratio.

Dividends

KVLE vs. OBOR - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.32%, more than OBOR's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KVLE KFA Value Liner Dynamic Core Equity Index ETF	7.32%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%	0.00%	0.00%	0.00%
OBOR KraneShares MSCI One Belt One Road Index ETF	1.98%	1.94%	3.87%	3.40%	4.75%	3.26%	2.04%	4.33%	0.02%	0.10%

Frequently Asked Questions

Can I hold both KVLE and OBOR in my portfolio?

KVLE and OBOR have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KVLE or OBOR?

OBOR has higher volatility (7.20%) compared to KVLE (3.61%). In terms of maximum drawdown, KVLE dropped -18.38% vs OBOR's -41.54%.

Which ETF is better, KVLE or OBOR?

On 5-year performance, KVLE leads with 10.02% vs 0.17% for OBOR. On fees, KVLE is cheaper at 0.56% per year. On volatility, KVLE has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KVLE or OBOR?

Over the 5-year period, KVLE has performed better with a 10.02% return vs 0.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KVLE or OBOR?

KVLE is cheaper with a 0.56% expense ratio, compared with 0.79% for OBOR.

Which ETF pays a higher dividend yield, KVLE or OBOR?

KVLE has the higher dividend yield at 7.32%, compared with 1.98% for OBOR.

What is the main difference between KVLE and OBOR?

KVLE is categorized as Large Cap Value Equities, while OBOR is Emerging Markets Equities. KVLE tracks 3D/L Value Line Dynamic Core Equity Index, while OBOR tracks MSCI Global China Infrastructure Exposure. Their fees differ too: 0.56% for KVLE and 0.79% for OBOR.

Which has better risk-adjusted returns?

KVLE currently has the higher Sharpe Ratio (1.55 vs 0.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.