KWEB vs. VNQI
KWEB (KraneShares CSI China Internet ETF) and VNQI (Vanguard Global ex-U.S. Real Estate ETF) are both exchange-traded funds - KWEB is a China Equities fund tracking the CSI Overseas China Internet Index, while VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index. Both are passively managed. Over the past 10 years, KWEB returned 0.12%/yr vs 2.74%/yr for VNQI. A 0.51 correlation means they provide meaningful diversification when combined. KWEB charges 0.70%/yr vs 0.12%/yr for VNQI.
Performance
KWEB vs. VNQI - Performance Comparison
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Returns By Period
In the year-to-date period, KWEB achieves a -22.20% return, which is significantly lower than VNQI's -0.33% return. Over the past 10 years, KWEB has underperformed VNQI with an annualized return of 0.12%, while VNQI has yielded a comparatively higher 2.74% annualized return.
KWEB
- 1D
- -0.30%
- 1M
- -9.28%
- YTD
- -22.20%
- 6M
- -23.82%
- 1Y
- -17.34%
- 3Y*
- 1.28%
- 5Y*
- -14.40%
- 10Y*
- 0.12%
VNQI
- 1D
- 0.68%
- 1M
- -2.33%
- YTD
- -0.33%
- 6M
- 0.85%
- 1Y
- 7.10%
- 3Y*
- 8.59%
- 5Y*
- -1.50%
- 10Y*
- 2.74%
KWEB vs. VNQI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KWEB KraneShares CSI China Internet ETF | -22.20% | 23.55% | 12.01% | -9.06% | -17.24% | -49.01% | 58.23% | 29.92% | -33.80% | 69.73% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | -0.33% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
Correlation
The correlation between KWEB and VNQI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2013 | 0.51 |
The correlation between KWEB and VNQI shifts across timeframes, from 0.38 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KWEB vs. VNQI — Risk / Return Rank
KWEB
VNQI
KWEB vs. VNQI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and Vanguard Global ex-U.S. Real Estate ETF (VNQI). 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 | VNQI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.09 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 0.40 | -0.95 |
| Martin ratioReturn relative to average drawdown | -1.09 | 1.13 | -2.22 |
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Drawdowns
KWEB vs. VNQI - Drawdown Comparison
The maximum KWEB drawdown since its inception was -80.92%, which is greater than VNQI's maximum drawdown of -38.35%. Use the drawdown chart below to compare losses from any high point for KWEB and VNQI.
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Drawdown Indicators
| KWEB | VNQI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.92% | -38.35% | -42.57% |
Max Drawdown (1Y)Largest decline over 1 year | -35.46% | -14.78% | -20.68% |
Max Drawdown (3Y)Largest decline over 3 years | -35.46% | -16.35% | -19.11% |
Max Drawdown (5Y)Largest decline over 5 years | -72.17% | -35.00% | -37.17% |
Max Drawdown (10Y)Largest decline over 10 years | -80.92% | -38.35% | -42.57% |
Current DrawdownCurrent decline from peak | -69.36% | -9.99% | -59.37% |
Average DrawdownAverage peak-to-trough decline | -35.30% | -10.89% | -24.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.80% | 5.19% | +12.61% |
Volatility
KWEB vs. VNQI - Volatility Comparison
KraneShares CSI China Internet ETF (KWEB) has a higher volatility of 9.39% compared to Vanguard Global ex-U.S. Real Estate ETF (VNQI) at 4.62%. This indicates that KWEB's price experiences larger fluctuations and is considered to be riskier than VNQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KWEB | VNQI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.39% | 4.62% | +4.77% |
Volatility (6M)Calculated over the trailing 6-month period | 20.21% | 11.75% | +8.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.20% | 13.73% | +13.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.66% | 15.54% | +32.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.98% | 16.07% | +23.91% |
KWEB vs. VNQI - Expense Ratio Comparison
KWEB has a 0.70% expense ratio, which is higher than VNQI's 0.12% expense ratio.
Dividends
KWEB vs. VNQI - Dividend Comparison
KWEB's dividend yield for the trailing twelve months is around 7.91%, more than VNQI's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KWEB KraneShares CSI China Internet ETF | 7.91% | 6.16% | 3.51% | 1.71% | 0.00% | 7.07% | 0.29% | 0.08% | 3.40% | 0.58% | 1.19% | 0.46% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.72% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
KWEB and VNQI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KWEB has higher volatility (9.39%) compared to VNQI (4.62%). In terms of maximum drawdown, KWEB dropped -80.92% vs VNQI's -38.35%.
On 10-year performance, VNQI leads with 2.74% vs 0.12% for KWEB. On fees, VNQI is cheaper at 0.12% per year. On volatility, VNQI has been the lower-risk option at 4.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VNQI has performed better with a 2.74% return vs 0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQI is cheaper with a 0.12% expense ratio, compared with 0.70% for KWEB.
KWEB has the higher dividend yield at 7.91%, compared with 4.72% for VNQI.
KWEB is categorized as China Equities, while VNQI is REIT. KWEB tracks CSI Overseas China Internet Index, while VNQI tracks S&P Global ex-U.S. Property Index. They also come from different issuers: KraneShares and Vanguard. Their fees differ too: 0.70% for KWEB and 0.12% for VNQI.
VNQI currently has the higher Sharpe Ratio (0.43 vs -0.71), 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.
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