KWEB.L vs. KWBE.L

Last updated Jun 5, 2026

KWEB.L (KraneShares CSI China Internet ETF) and KWBE.L (KraneShares CSI China Internet UCITS ETF EUR) are both Technology Equities funds from Waystone Management tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, KWEB.L returned -13.97%/yr vs -13.91%/yr for KWBE.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

KWEB.L vs. KWBE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares CSI China Internet ETF (KWEB.L) and KraneShares CSI China Internet UCITS ETF EUR (KWBE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

KWEB.L is traded in USD, while KWBE.L is traded in EUR. To make them comparable, the KWBE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with KWEB.L having a -20.43% return and KWBE.L slightly lower at -20.48%.

KWEB.L

• 1D: -0.07%
• 1M: -4.34%
• YTD: -20.43%
• 6M: -22.14%
• 1Y: -14.58%
• 3Y*: 4.85%
• 5Y*: -13.97%
• 10Y*: —

KWBE.L

• 1D: -0.35%
• 1M: -4.71%
• YTD: -20.48%
• 6M: -22.25%
• 1Y: -14.85%
• 3Y*: 4.65%
• 5Y*: -13.91%
• 10Y*: —

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

KWEB.L vs. KWBE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KWEB.L KraneShares CSI China Internet ETF	-20.43%	25.34%	13.46%	-9.86%	-18.00%	-49.61%	16.07%
KWBE.L KraneShares CSI China Internet UCITS ETF EUR	-20.48%	25.74%	12.86%	-10.45%	-17.32%	-47.47%	11.98%

Correlation

The correlation between KWEB.L and KWBE.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 6, 2020	0.91

The correlation between KWEB.L and KWBE.L has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

KWEB.L vs. KWBE.L - Sectors Allocation Comparison

Sectors	KWEB.L	KWBE.L
Consumer Cyclical	39.2%	37.3%
Communication Services	24.3%	24.8%
Technology	16.9%	17.7%
Healthcare	6.2%	5.9%
Real Estate	4.7%	4.8%
Industrials	3.2%	3.2%
Consumer Defensive	3.0%	3.0%
Financial Services	1.9%	2.3%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

KWEB.L vs. KWBE.L — Risk / Return Rank

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

KWEB.L

KWEB.L Risk / Return Rank: 5
KWEB.L Sharpe Ratio Rank: 4
KWEB.L Sortino Ratio Rank: 4
KWEB.L Omega Ratio Rank: 4
KWEB.L Calmar Ratio Rank: 5
KWEB.L Martin Ratio Rank: 5

KWBE.L

KWBE.L Risk / Return Rank: 4
KWBE.L Sharpe Ratio Rank: 4
KWBE.L Sortino Ratio Rank: 4
KWBE.L Omega Ratio Rank: 4
KWBE.L Calmar Ratio Rank: 5
KWBE.L Martin Ratio Rank: 5

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.

KWEB.L vs. KWBE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB.L) and KraneShares CSI China Internet UCITS ETF EUR (KWBE.L). 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.

	KWEB.L	KWBE.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	-0.57	+0.02
Sortino ratio: Return per unit of downside risk	-0.65	-0.68	+0.03
Omega ratio: Gain probability vs. loss probability	0.93	0.93	0.00
Calmar ratio: Return relative to maximum drawdown	-0.42	-0.43	+0.01
Martin ratio: Return relative to average drawdown	-0.87	-0.88	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KWEB.L vs. KWBE.L - Sharpe Ratio Comparison

The current KWEB.L Sharpe Ratio is -0.54, which is comparable to the KWBE.L Sharpe Ratio of -0.57. The chart below compares the historical Sharpe Ratios of KWEB.L and KWBE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KWEB.L	KWBE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	-0.57	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	-0.31	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	-0.27	+0.22

Drawdowns

KWEB.L vs. KWBE.L - Drawdown Comparison

The maximum KWEB.L drawdown since its inception was -81.20%, roughly equal to the maximum KWBE.L drawdown of -80.94%. Use the drawdown chart below to compare losses from any high point for KWEB.L and KWBE.L.

Drawdown Indicators

	KWEB.L	KWBE.L	Difference
Max Drawdown Largest peak-to-trough decline	-81.20%	-80.94%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-34.45%	-34.67%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-34.45%	-34.67%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-72.30%	-71.77%	-0.53%
Current Drawdown Current decline from peak	-68.32%	-68.08%	-0.24%
Average Drawdown Average peak-to-trough decline	-46.34%	-62.94%	+16.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.80%	16.93%	-0.13%

Volatility

KWEB.L vs. KWBE.L - Volatility Comparison

KraneShares CSI China Internet ETF (KWEB.L) and KraneShares CSI China Internet UCITS ETF EUR (KWBE.L) have volatilities of 11.64% and 11.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KWEB.L	KWBE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	11.94%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	20.29%	19.90%	+0.39%
Volatility (1Y) Calculated over the trailing 1-year period	26.80%	26.26%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.13%	46.49%	-0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.18%	47.09%	-4.91%

KWEB.L vs. KWBE.L - Expense Ratio Comparison

Both KWEB.L and KWBE.L have an expense ratio of 0.75%.

Dividends

KWEB.L vs. KWBE.L - Dividend Comparison

Neither KWEB.L nor KWBE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KWEB.L and KWBE.L in my portfolio?

With a correlation of 0.98, KWEB.L and KWBE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, KWEB.L or KWBE.L?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KWEB.L or KWBE.L?

KWEB.L and KWBE.L have the same expense ratio: 0.75% per year.

What is the main difference between KWEB.L and KWBE.L?

Both ETFs track MSCI World/Information Tech NR USD.