KWEB vs. CN

Last updated Apr 2, 2026

Compare and contrast key facts about KraneShares CSI China Internet ETF (KWEB) and Xtrackers MSCI All China Equity ETF (CN).

KWEB and CN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KWEB is a passively managed fund by CICC that tracks the performance of the CSI Overseas China Internet. It was launched on Jul 31, 2013. CN is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI China All Shares. It was launched on Apr 30, 2014. Both KWEB and CN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

KWEB vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares CSI China Internet ETF (KWEB) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

KWEB vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KWEB KraneShares CSI China Internet ETF	-16.89%	23.55%	12.01%	-9.06%	-17.24%	-49.01%	58.23%	29.92%	-33.80%	69.73%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%

Returns By Period

KWEB

• 1D: -0.46%
• 1M: -7.67%
• YTD: -16.89%
• 6M: -29.25%
• 1Y: -14.27%
• 3Y*: 0.43%
• 5Y*: -15.48%
• 10Y*: -0.00%

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KWEB vs. CN - Expense Ratio Comparison

KWEB has a 0.76% expense ratio, which is higher than CN's 0.50% expense ratio.

KWEB

KraneShares CSI China Internet ETF

CN

Xtrackers MSCI All China Equity ETF

Return for Risk

KWEB vs. CN — Risk / Return Rank

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

KWEB

KWEB Risk / Return Rank: 4
KWEB Sharpe Ratio Rank: 4
KWEB Sortino Ratio Rank: 4
KWEB Omega Ratio Rank: 4
KWEB Calmar Ratio Rank: 5
KWEB Martin Ratio Rank: 3

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 vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and Xtrackers MSCI All China Equity ETF (CN). 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	CN	Difference
Sharpe ratio Return per unit of total volatility	-0.48	—	—
Sortino ratio Return per unit of downside risk	-0.52	—	—
Omega ratio Gain probability vs. loss probability	0.94	—	—
Calmar ratio Return relative to maximum drawdown	-0.45	—	—
Martin ratio Return relative to average drawdown	-1.15	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KWEB	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	—	—

Correlation

The correlation between KWEB and CN is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

KWEB vs. CN - Dividend Comparison

KWEB's dividend yield for the trailing twelve months is around 7.41%, while CN has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KWEB KraneShares CSI China Internet ETF	7.41%	6.16%	3.51%	1.71%	0.00%	7.07%	0.29%	0.08%	3.40%	0.58%	1.19%	0.46%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%

Drawdowns

Drawdown Indicators

	KWEB	CN	Difference
Max Drawdown Largest peak-to-trough decline	-80.92%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-75.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-80.92%	—	—
Current Drawdown Current decline from peak	-67.27%	—	—
Average Drawdown Average peak-to-trough decline	-34.81%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	—	—

Volatility

Volatility by Period

	KWEB	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.53%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.62%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.87%	—	—