KWEB vs. YXI
KWEB (KraneShares CSI China Internet ETF) and YXI (ProShares Short FTSE China 50) are both China Equities funds - KWEB tracks the CSI Overseas China Internet Index while YXI tracks the FTSE China 50 Net Tax USD (TR) (-100%). Both are passively managed. Over the past 10 years, KWEB returned 0.00%/yr vs -7.35%/yr for YXI. At a correlation of -0.78, they often move in opposite directions. KWEB charges 0.70%/yr vs 0.95%/yr for YXI.
Performance
KWEB vs. YXI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, KWEB achieves a -19.30% return, which is significantly lower than YXI's 10.86% return.
KWEB
- 1D
- 1.78%
- 1M
- 6.18%
- 6M
- -24.46%
- YTD
- -19.30%
- 1Y
- -17.48%
- 3Y*
- 1.80%
- 5Y*
- -11.84%
- 10Y*
- 0.00%
YXI
- 1D
- -1.28%
- 1M
- 0.04%
- 6M
- 15.92%
- YTD
- 10.86%
- 1Y
- 8.52%
- 3Y*
- -9.98%
- 5Y*
- -2.98%
- 10Y*
- -7.35%
KWEB vs. YXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KWEB KraneShares CSI China Internet ETF | -19.30% | 23.55% | 12.01% | -9.06% | -17.24% | -49.01% | 58.23% | 29.92% | -33.80% | 69.73% |
YXI ProShares Short FTSE China 50 | 10.86% | -22.87% | -25.36% | 12.40% | 4.78% | 13.94% | -17.95% | -14.35% | 9.63% | -28.43% |
Correlation
The correlation between KWEB and YXI is -0.83, 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 (1Y) Calculated over the trailing 1-year period | -0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2013 | -0.78 |
The correlation between KWEB and YXI shifts across timeframes, from -0.91 (5 years) to -0.78 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
KWEB vs. YXI — Risk / Return Rank
KWEB
YXI
KWEB vs. YXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares CSI China Internet ETF (KWEB) and ProShares Short FTSE China 50 (YXI). 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 | YXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.09 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 0.75 | -1.17 |
| Martin ratioReturn relative to average drawdown | -0.84 | 1.50 | -2.34 |
Loading charts...
Drawdowns
KWEB vs. YXI - Drawdown Comparison
The maximum KWEB drawdown since its inception was -80.92%, roughly equal to the maximum YXI drawdown of -81.15%. Use the drawdown chart below to compare losses from any high point for KWEB and YXI.
Loading charts...
Drawdown Indicators
| KWEB | YXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.92% | -81.15% | +0.23% |
Max Drawdown (1Y)Largest decline over 1 year | -41.62% | -11.39% | -30.23% |
Max Drawdown (3Y)Largest decline over 3 years | -41.62% | -53.12% | +11.50% |
Max Drawdown (5Y)Largest decline over 5 years | -68.04% | -57.65% | -10.39% |
Max Drawdown (10Y)Largest decline over 10 years | -80.92% | -61.79% | -19.13% |
Current DrawdownCurrent decline from peak | -68.22% | -77.36% | +9.14% |
Average DrawdownAverage peak-to-trough decline | -35.54% | -54.45% | +18.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.90% | 5.69% | +15.21% |
Volatility
KWEB vs. YXI - Volatility Comparison
KraneShares CSI China Internet ETF (KWEB) has a higher volatility of 8.46% compared to ProShares Short FTSE China 50 (YXI) at 7.55%. This indicates that KWEB's price experiences larger fluctuations and is considered to be riskier than YXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| KWEB | YXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.46% | 7.55% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 20.13% | 15.50% | +4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.46% | 20.63% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.59% | 31.48% | +16.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.01% | 27.43% | +12.58% |
KWEB vs. YXI - Expense Ratio Comparison
KWEB has a 0.70% expense ratio, which is lower than YXI's 0.95% expense ratio.
Dividends
KWEB vs. YXI - Dividend Comparison
KWEB's dividend yield for the trailing twelve months is around 7.63%, more than YXI's 2.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KWEB KraneShares CSI China Internet ETF | 7.63% | 6.16% | 3.51% | 1.71% | 0.00% | 7.07% | 0.29% | 0.08% | 3.40% | 0.58% | 1.19% | 0.46% |
YXI ProShares Short FTSE China 50 | 2.57% | 3.60% | 4.35% | 2.66% | 0.27% | 0.00% | 0.08% | 1.01% | 0.25% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KWEB and YXI have a correlation of -0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KWEB has higher volatility (8.46%) compared to YXI (7.55%). In terms of maximum drawdown, KWEB dropped -80.92% vs YXI's -81.15%.
On 10-year performance, KWEB leads with 0.00% vs -7.35% for YXI. On fees, KWEB is cheaper at 0.70% per year. On volatility, YXI has been the lower-risk option at 7.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KWEB has performed better with a 0.00% return vs -7.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KWEB is cheaper with a 0.70% expense ratio, compared with 0.95% for YXI.
KWEB has the higher dividend yield at 7.63%, compared with 2.57% for YXI.
KWEB tracks CSI Overseas China Internet Index, while YXI tracks FTSE China 50 Net Tax USD (TR) (-100%). They also come from different issuers: KraneShares and ProShares. Their fees differ too: 0.70% for KWEB and 0.95% for YXI.
YXI currently has the higher Sharpe Ratio (0.41 vs -0.64), 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.
Find the right allocation for KWEB and YXI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer