KWEB vs. CAS
KWEB (KraneShares CSI China Internet ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. KWEB is passively managed, while CAS is actively managed. At a correlation of -0.17, they often move in opposite directions. KWEB charges 0.70%/yr vs 0.88%/yr for CAS.
Performance
KWEB vs. CAS - Performance Comparison
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Returns By Period
KWEB
- 1D
- -0.75%
- 1M
- -6.91%
- YTD
- -26.43%
- 6M
- -27.93%
- 1Y
- -20.19%
- 3Y*
- 1.48%
- 5Y*
- -15.02%
- 10Y*
- -0.35%
CAS
- 1D
- -1.70%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KWEB vs. CAS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
KWEB KraneShares CSI China Internet ETF | -7.97% |
CAS Simplify China A Shares PLUS Income ETF | -5.11% |
Correlation
The correlation between KWEB and CAS is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026 | -0.17 |
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Return for Risk
KWEB vs. CAS — Risk / Return Rank
KWEB
CAS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KWEB vs. CAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and Simplify China A Shares PLUS Income ETF (CAS). 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.
| KWEB | CAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.89 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | — | — |
| Martin ratioReturn relative to average drawdown | -1.09 | — | — |
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Drawdowns
KWEB vs. CAS - Drawdown Comparison
The maximum KWEB drawdown since its inception was -80.92%, which is greater than CAS's maximum drawdown of -5.11%. Use the drawdown chart below to compare losses from any high point for KWEB and CAS.
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Drawdown Indicators
| KWEB | CAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.92% | -5.11% | -75.81% |
Max Drawdown (1Y)Largest decline over 1 year | -38.11% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -38.11% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -72.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.92% | — | — |
Current DrawdownCurrent decline from peak | -71.03% | -5.11% | -65.92% |
Average DrawdownAverage peak-to-trough decline | -35.35% | -3.16% | -32.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.53% | — | — |
Volatility
KWEB vs. CAS - Volatility Comparison
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Volatility by Period
| KWEB | CAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 20.40% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.13% | 13.51% | +13.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.70% | 13.51% | +34.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.01% | 13.51% | +26.50% |
KWEB vs. CAS - Expense Ratio Comparison
KWEB has a 0.70% expense ratio, which is lower than CAS's 0.88% expense ratio.
Dividends
KWEB vs. CAS - Dividend Comparison
KWEB's dividend yield for the trailing twelve months is around 8.37%, while CAS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAS Simplify China A Shares PLUS Income ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KWEB KraneShares CSI China Internet ETF | 8.37% | 6.16% | 3.51% | 1.71% | 0.00% | 7.07% | 0.29% | 0.08% | 3.40% | 0.58% | 1.19% | 0.46% |
Frequently Asked Questions
KWEB and CAS have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KWEB is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KWEB is cheaper with a 0.70% expense ratio, compared with 0.88% for CAS.
KWEB has the higher dividend yield at 8.37%, compared with 0.00% for CAS.
They also come from different issuers: KraneShares and Simplify. Their fees differ too: 0.70% for KWEB and 0.88% for CAS.
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