OBOR vs. IVOL
OBOR (KraneShares MSCI One Belt One Road Index ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - OBOR is a Emerging Markets Equities fund tracking the MSCI Global China Infrastructure Exposure, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. OBOR is passively managed, while IVOL is actively managed. Over the past 5 years, OBOR returned 0.52%/yr vs -5.87%/yr for IVOL. Their 0.09 correlation means their historical movements had little consistent relationship. OBOR charges 0.79%/yr vs 0.99%/yr for IVOL.
Performance
OBOR vs. IVOL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OBOR achieves a 0.11% return, which is significantly higher than IVOL's -7.33% return.
OBOR
- 1D
- -0.46%
- 1M
- 2.33%
- 6M
- -6.55%
- YTD
- 0.11%
- 1Y
- 12.75%
- 3Y*
- 9.00%
- 5Y*
- 0.52%
- 10Y*
- —
- ALL TIME*
- 3.24%
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $4.43K | $6.82K | $15.71K |
OBOR vs. IVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OBOR KraneShares MSCI One Belt One Road Index ETF | 0.11% | 27.86% | 8.55% | -7.91% | -21.96% | 17.06% | 13.47% | 15.26% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.35% |
Correlation
The correlation between OBOR and IVOL is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.09 |
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
OBOR vs. IVOL — Risk / Return Rank
OBOR
IVOL
OBOR vs. IVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI One Belt One Road Index ETF (OBOR) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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.
| OBOR | IVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.37 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.86 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | -0.51 | +1.37 |
| Martin ratioReturn relative to average drawdown | 1.99 | -0.99 | +2.98 |
Loading charts...
Drawdowns
OBOR vs. IVOL - Drawdown Comparison
The maximum OBOR drawdown since its inception was -41.54%, which is greater than IVOL's maximum drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for OBOR and IVOL.
Loading charts...
Drawdown Indicators
| OBOR | IVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.54% | -31.16% | -10.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.95% | -12.17% | -2.78% |
Max Drawdown (3Y)Largest decline over 3 years | -18.06% | -14.48% | -3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -34.00% | -30.28% | -3.72% |
Current DrawdownCurrent decline from peak | -11.67% | -27.12% | +15.45% |
Average DrawdownAverage peak-to-trough decline | -15.91% | -13.60% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 6.22% | +0.26% |
Volatility
OBOR vs. IVOL - Volatility Comparison
KraneShares MSCI One Belt One Road Index ETF (OBOR) has a higher volatility of 4.35% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 1.74%. This indicates that OBOR's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OBOR | IVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 1.74% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 4.95% | +9.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.10% | 6.74% | +10.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 12.85% | +3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 11.91% | +6.60% |
OBOR vs. IVOL - Expense Ratio Comparison
OBOR has a 0.79% expense ratio, which is lower than IVOL's 0.99% expense ratio.
Dividends
OBOR vs. IVOL - Dividend Comparison
OBOR's dividend yield for the trailing twelve months is around 1.94%, less than IVOL's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% |
OBOR KraneShares MSCI One Belt One Road Index ETF | 1.94% | 1.94% | 3.87% | 3.40% | 4.75% | 3.26% | 2.04% | 4.33% | 0.02% | 0.10% |
Frequently Asked Questions
OBOR and IVOL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OBOR has higher volatility (4.35%) compared to IVOL (1.74%). In terms of maximum drawdown, OBOR dropped -41.54% vs IVOL's -31.16%.
On 5-year performance, OBOR leads with 0.52% vs -5.87% for IVOL. On fees, OBOR is cheaper at 0.79% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, OBOR has performed better with a 0.52% return vs -5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OBOR is cheaper with a 0.79% expense ratio, compared with 0.99% for IVOL.
IVOL has the higher dividend yield at 3.88%, compared with 1.94% for OBOR.
OBOR is categorized as Emerging Markets Equities, while IVOL is Inflation-Protected Bonds. Their fees differ too: 0.79% for OBOR and 0.99% for IVOL.
OBOR currently has the higher Sharpe Ratio (0.76 vs -0.92), 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 OBOR and IVOL
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