OBOR vs. NBIS

Last updated Jun 3, 2026

OBOR (KraneShares MSCI One Belt One Road Index ETF) is Emerging Markets Equities fund tracking the MSCI Global China Infrastructure Exposure, while NBIS (Nebius Group N.V.) is a stock. Over the past year, OBOR returned 24.36% vs 623.43% for NBIS. At a 0.18 correlation, their price movements are largely independent.

Performance

OBOR vs. NBIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI One Belt One Road Index ETF (OBOR) and Nebius Group N.V. (NBIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OBOR achieves a 4.26% return, which is significantly lower than NBIS's 211.31% return.

OBOR

• 1D: 1.15%
• 1M: -1.00%
• YTD: 4.26%
• 6M: 7.97%
• 1Y: 24.36%
• 3Y*: 12.00%
• 5Y*: 1.31%
• 10Y*: —

NBIS

• 1D: -1.49%
• 1M: 68.67%
• YTD: 211.31%
• 6M: 170.17%
• 1Y: 623.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OBOR vs. NBIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OBOR KraneShares MSCI One Belt One Road Index ETF	4.26%	27.86%	-4.15%
NBIS Nebius Group N.V.	211.31%	202.18%	46.25%

Correlation

The correlation between OBOR and NBIS is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Oct 21, 2024	0.18

Return for Risk

OBOR vs. NBIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OBOR

OBOR Risk / Return Rank: 42
OBOR Sharpe Ratio Rank: 42
OBOR Sortino Ratio Rank: 40
OBOR Omega Ratio Rank: 43
OBOR Calmar Ratio Rank: 46
OBOR Martin Ratio Rank: 38

NBIS

NBIS Risk / Return Rank: 97
NBIS Sharpe Ratio Rank: 99
NBIS Sortino Ratio Rank: 97
NBIS Omega Ratio Rank: 94
NBIS Calmar Ratio Rank: 98
NBIS Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OBOR vs. NBIS - 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 Nebius Group N.V. (NBIS). 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.

	OBOR	NBIS	Difference
Sharpe ratio Return per unit of total volatility	1.52	5.99	-4.47
Sortino ratio Return per unit of downside risk	2.06	4.73	-2.67
Omega ratio Gain probability vs. loss probability	1.28	1.53	-0.25
Calmar ratio Return relative to maximum drawdown	2.33	13.40	-11.07
Martin ratio Return relative to average drawdown	5.96	30.86	-24.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OBOR vs. NBIS - Sharpe Ratio Comparison

The current OBOR Sharpe Ratio is 1.52, which is lower than the NBIS Sharpe Ratio of 5.99. The chart below compares the historical Sharpe Ratios of OBOR and NBIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OBOR	NBIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	5.99	-4.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	3.74	-3.53

Drawdowns

OBOR vs. NBIS - Drawdown Comparison

The maximum OBOR drawdown since its inception was -41.54%, smaller than the maximum NBIS drawdown of -58.27%. Use the drawdown chart below to compare losses from any high point for OBOR and NBIS.

Drawdown Indicators

	OBOR	NBIS	Difference
Max Drawdown Largest peak-to-trough decline	-41.54%	-58.27%	+16.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-45.47%	+35.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.00%	—	—
Current Drawdown Current decline from peak	-8.01%	-1.49%	-6.52%
Average Drawdown Average peak-to-trough decline	-15.98%	-19.11%	+3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	19.74%	-15.66%

Volatility

OBOR vs. NBIS - Volatility Comparison

The current volatility for KraneShares MSCI One Belt One Road Index ETF (OBOR) is 6.43%, while Nebius Group N.V. (NBIS) has a volatility of 33.33%. This indicates that OBOR experiences smaller price fluctuations and is considered to be less risky than NBIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OBOR	NBIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.43%	33.33%	-26.90%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	70.22%	-56.42%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	105.07%	-89.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	110.65%	-94.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.52%	110.65%	-92.13%

Dividends

OBOR vs. NBIS - Dividend Comparison

OBOR's dividend yield for the trailing twelve months is around 1.86%, while NBIS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
NBIS Nebius Group N.V.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OBOR KraneShares MSCI One Belt One Road Index ETF	1.86%	1.94%	3.87%	3.40%	4.75%	3.26%	2.04%	4.33%	0.02%	0.10%

Frequently Asked Questions

Can I hold both OBOR and NBIS in my portfolio?

OBOR and NBIS have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OBOR or NBIS?

NBIS has higher volatility (33.33%) compared to OBOR (6.43%). In terms of maximum drawdown, OBOR dropped -41.54% vs NBIS's -58.27%.

Which has better risk-adjusted returns?

NBIS currently has the higher Sharpe Ratio (5.99 vs 1.52), 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.