KWEB vs. PGJ
Compare and contrast key facts about KraneShares CSI China Internet ETF (KWEB) and Invesco Golden Dragon China ETF (PGJ).
KWEB and PGJ 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. PGJ is a passively managed fund by Invesco that tracks the performance of the Halter USX China Index. It was launched on Dec 9, 2004. Both KWEB and PGJ 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. PGJ - Performance Comparison
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KWEB vs. PGJ - 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% |
PGJ Invesco Golden Dragon China ETF | -9.88% | 13.66% | 5.91% | -2.38% | -24.50% | -42.87% | 54.24% | 32.18% | -29.51% | 60.27% |
Returns By Period
In the year-to-date period, KWEB achieves a -16.89% return, which is significantly lower than PGJ's -9.88% return.
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%
PGJ
- 1D
- 0.44%
- 1M
- -5.61%
- YTD
- -9.88%
- 6M
- -22.40%
- 1Y
- -10.26%
- 3Y*
- -0.87%
- 5Y*
- -14.84%
- 10Y*
- 0.23%
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KWEB vs. PGJ - Expense Ratio Comparison
KWEB has a 0.76% expense ratio, which is higher than PGJ's 0.70% expense ratio.
Return for Risk
KWEB vs. PGJ — Risk / Return Rank
KWEB
PGJ
KWEB vs. PGJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and Invesco Golden Dragon China ETF (PGJ). 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 | PGJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.48 | -0.38 | -0.11 |
Sortino ratioReturn per unit of downside risk | -0.52 | -0.36 | -0.16 |
Omega ratioGain probability vs. loss probability | 0.94 | 0.96 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.45 | -0.38 | -0.07 |
Martin ratioReturn relative to average drawdown | -1.15 | -0.91 | -0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KWEB | PGJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.48 | -0.38 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | -0.34 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.00 | 0.01 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.12 | -0.05 |
Correlation
The correlation between KWEB and PGJ is 0.95, 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. PGJ - Dividend Comparison
KWEB's dividend yield for the trailing twelve months is around 7.41%, more than PGJ's 3.51% yield.
| 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% |
PGJ Invesco Golden Dragon China ETF | 3.51% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
Drawdowns
KWEB vs. PGJ - Drawdown Comparison
The maximum KWEB drawdown since its inception was -80.92%, roughly equal to the maximum PGJ drawdown of -78.37%. Use the drawdown chart below to compare losses from any high point for KWEB and PGJ.
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Drawdown Indicators
| KWEB | PGJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.92% | -78.37% | -2.55% |
Max Drawdown (1Y)Largest decline over 1 year | -31.36% | -25.69% | -5.67% |
Max Drawdown (5Y)Largest decline over 5 years | -75.23% | -72.28% | -2.95% |
Max Drawdown (10Y)Largest decline over 10 years | -80.92% | -78.37% | -2.55% |
Current DrawdownCurrent decline from peak | -67.27% | -65.65% | -1.62% |
Average DrawdownAverage peak-to-trough decline | -34.81% | -31.47% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.20% | 10.73% | +1.47% |
Volatility
KWEB vs. PGJ - Volatility Comparison
KraneShares CSI China Internet ETF (KWEB) has a higher volatility of 8.58% compared to Invesco Golden Dragon China ETF (PGJ) at 7.25%. This indicates that KWEB's price experiences larger fluctuations and is considered to be riskier than PGJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KWEB | PGJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 7.25% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 19.06% | 17.78% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.53% | 27.39% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.62% | 43.90% | +3.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.87% | 36.63% | +3.24% |