KWEB vs. KEMQ

Last updated Aug 2, 2026

KWEB (KraneShares CSI China Internet ETF) and KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) are both exchange-traded funds - KWEB is a China Equities fund tracking the CSI Overseas China Internet Index, while KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index. Both are passively managed. Over the past 5 years, KWEB returned -7.53%/yr vs -1.50%/yr for KEMQ. Their correlation of 0.87 means they have usually moved in the same direction. KWEB charges 0.70%/yr vs 0.60%/yr for KEMQ.

Performance

KWEB vs. KEMQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares CSI China Internet ETF (KWEB) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KWEB achieves a -16.33% return, which is significantly lower than KEMQ's 2.80% return.

KWEB

• 1D: 1.53%
• 1M: 14.01%
• 6M: -19.47%
• YTD: -16.33%
• 1Y: -12.39%
• 3Y*: 0.77%
• 5Y*: -7.53%
• 10Y*: 0.31%
• ALL TIME*: 2.65%

KEMQ

• 1D: 0.36%
• 1M: 0.53%
• 6M: -6.01%
• YTD: 2.80%
• 1Y: 21.32%
• 3Y*: 19.29%
• 5Y*: -1.50%
• 10Y*: —
• ALL TIME*: 1.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	$173.00K	$157.77K	$320.60K
KWEB KraneShares CSI China Internet ETF	$554.38M	$548.17M	$693.22M

KWEB vs. KEMQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KWEB KraneShares CSI China Internet ETF	-16.33%	23.55%	12.01%	-9.06%	-17.24%	-49.01%	58.23%	29.92%	-33.80%	0.06%
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	2.80%	56.28%	13.81%	0.77%	-38.09%	-27.31%	39.26%	28.26%	-25.52%	1.43%

Correlation

The correlation between KWEB and KEMQ is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Oct 12, 2017	0.87

The correlation between KWEB and KEMQ shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

KWEB vs. KEMQ - Sectors Allocation Comparison

Sectors	KWEB	KEMQ
Consumer Cyclical	36.4%	35.1%
Communication Services	32.4%	21.0%
Technology	11.8%	35.4%
Healthcare	6.0%	2.8%
Industrials	4.5%	2.1%
Real Estate	4.0%	-
Consumer Defensive	3.0%	3.2%
Financial Services	1.8%	2.7%
Basic Materials	-	-
Energy	-	-
Utilities	-	-

Return for Risk

KWEB vs. KEMQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KWEB

KWEB Risk / Return Rank: 5
KWEB Sharpe Ratio Rank: 5
KWEB Sortino Ratio Rank: 5
KWEB Omega Ratio Rank: 5
KWEB Calmar Ratio Rank: 6
KWEB Martin Ratio Rank: 6

KEMQ

KEMQ Risk / Return Rank: 27
KEMQ Sharpe Ratio Rank: 28
KEMQ Sortino Ratio Rank: 28
KEMQ Omega Ratio Rank: 28
KEMQ Calmar Ratio Rank: 27
KEMQ Martin Ratio Rank: 26

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KWEB vs. KEMQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). 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	KEMQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	0.68	-1.21
Sortino ratio: Return per unit of downside risk	-0.62	1.09	-1.70
Omega ratio: Gain probability vs. loss probability	0.93	1.13	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.35	0.86	-1.22
Martin ratio: Return relative to average drawdown	-0.67	2.09	-2.77

KWEB vs. KEMQ - Sharpe Ratio Comparison

The current KWEB Sharpe Ratio is -0.53, which is lower than the KEMQ Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of KWEB and KEMQ, 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

KWEB vs. KEMQ - Drawdown Comparison

The maximum KWEB drawdown since its inception was -80.92%, which is greater than KEMQ's maximum drawdown of -70.72%. Use the drawdown chart below to compare losses from any high point for KWEB and KEMQ.

Drawdown Indicators

	KWEB	KEMQ	Difference
Max Drawdown Largest peak-to-trough decline	-80.92%	-70.72%	-10.20%
Max Drawdown (1Y) Largest decline over 1 year	-41.62%	-21.94%	-19.68%
Max Drawdown (3Y) Largest decline over 3 years	-41.62%	-21.94%	-19.68%
Max Drawdown (5Y) Largest decline over 5 years	-63.96%	-62.62%	-1.34%
Max Drawdown (10Y) Largest decline over 10 years	-80.92%	—	—
Current Drawdown Current decline from peak	-67.05%	-30.95%	-36.10%
Average Drawdown Average peak-to-trough decline	-35.65%	-35.58%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.98%	9.00%	+12.98%

Volatility

KWEB vs. KEMQ - Volatility Comparison

KraneShares CSI China Internet ETF (KWEB) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) have volatilities of 7.76% and 7.59%, 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	KEMQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	7.59%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	20.68%	23.01%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	27.82%	27.84%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.99%	32.01%	+14.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.04%	29.61%	+10.43%

KWEB vs. KEMQ - Expense Ratio Comparison

KWEB has a 0.70% expense ratio, which is higher than KEMQ's 0.60% expense ratio.

Dividends

KWEB vs. KEMQ - Dividend Comparison

KWEB's dividend yield for the trailing twelve months is around 7.36%, more than KEMQ's 5.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	5.12%	5.27%	0.73%	0.29%	0.00%	0.28%	2.28%	1.76%	0.00%	0.00%	0.00%	0.00%
KWEB KraneShares CSI China Internet ETF	7.36%	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

Can I hold both KWEB and KEMQ in my portfolio?

KWEB and KEMQ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KWEB or KEMQ?

KWEB has higher volatility (7.76%) compared to KEMQ (7.59%). In terms of maximum drawdown, KWEB dropped -80.92% vs KEMQ's -70.72%.

Which ETF is better, KWEB or KEMQ?

On 5-year performance, KEMQ leads with -1.50% vs -7.53% for KWEB. On fees, KEMQ is cheaper at 0.60% per year. On volatility, KEMQ has been the lower-risk option at 7.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KWEB or KEMQ?

Over the 5-year period, KEMQ has performed better with a -1.50% return vs -7.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KWEB or KEMQ?

KEMQ is cheaper with a 0.60% expense ratio, compared with 0.70% for KWEB.

Which ETF pays a higher dividend yield, KWEB or KEMQ?

KWEB has the higher dividend yield at 7.36%, compared with 5.12% for KEMQ.

What is the main difference between KWEB and KEMQ?

KWEB is categorized as China Equities, while KEMQ is Emerging Markets Equities. KWEB tracks CSI Overseas China Internet Index, while KEMQ tracks Solactive Emerging Markets Consumer Technology Index. They also come from different issuers: KraneShares and CICC. Their fees differ too: 0.70% for KWEB and 0.60% for KEMQ.

Which has better risk-adjusted returns?

KEMQ currently has the higher Sharpe Ratio (0.68 vs -0.53), 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.