PCCE vs. KLIP

Last updated Aug 4, 2026

PCCE (Polen Capital China Growth ETF) and KLIP (KraneShares China Internet and Covered Call Strategy ETF) are both China Equities funds. Both are actively managed. Over the past year, PCCE returned 1.31% vs -3.11% for KLIP. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PCCE charges 1.00%/yr vs 0.95%/yr for KLIP.

Performance

PCCE vs. KLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Polen Capital China Growth ETF (PCCE) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PCCE achieves a -3.59% return, which is significantly higher than KLIP's -6.77% return.

PCCE

• 1D: -0.28%
• 1M: 2.90%
• 6M: -5.93%
• YTD: -3.59%
• 1Y: 1.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.15%

KLIP

• 1D: 0.35%
• 1M: 6.88%
• 6M: -11.18%
• YTD: -6.77%
• 1Y: -3.11%
• 3Y*: 6.33%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KLIP KraneShares China Internet and Covered Call Strategy ETF	$647.66K	$581.47K	$1.00M
PCCE Polen Capital China Growth ETF	$4.55K	$4.12K	$4.24K

PCCE vs. KLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PCCE Polen Capital China Growth ETF	-3.59%	23.07%	10.79%
KLIP KraneShares China Internet and Covered Call Strategy ETF	-6.77%	16.92%	3.96%

Correlation

The correlation between PCCE and KLIP is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.76

The correlation between PCCE and KLIP has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

PCCE vs. KLIP - Sectors Allocation Comparison

Sectors	PCCE	KLIP
Communication Services	20.3%	45.8%
Financial Services	15.5%	2.0%
Consumer Cyclical	14.2%	34.2%
Industrials	13.6%	-
Healthcare	10.5%	6.0%
Real Estate	7.9%	3.9%
Basic Materials	7.7%	-
Technology	6.8%	4.2%
Consumer Defensive	3.7%	4.0%
Energy	-	-
Utilities	-	-

Return for Risk

PCCE vs. KLIP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PCCE

PCCE Risk / Return Rank: 12
PCCE Sharpe Ratio Rank: 12
PCCE Sortino Ratio Rank: 12
PCCE Omega Ratio Rank: 11
PCCE Calmar Ratio Rank: 11
PCCE Martin Ratio Rank: 12

KLIP

KLIP Risk / Return Rank: 8
KLIP Sharpe Ratio Rank: 8
KLIP Sortino Ratio Rank: 8
KLIP Omega Ratio Rank: 8
KLIP Calmar Ratio Rank: 9
KLIP Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PCCE vs. KLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Polen Capital China Growth ETF (PCCE) and KraneShares China Internet and Covered Call Strategy ETF (KLIP). 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.

	PCCE	KLIP	Difference
Sharpe ratio: Return per unit of total volatility	0.07	-0.19	+0.25
Sortino ratio: Return per unit of downside risk	0.23	-0.15	+0.38
Omega ratio: Gain probability vs. loss probability	1.03	0.98	+0.05
Calmar ratio: Return relative to maximum drawdown	0.08	-0.15	+0.22
Martin ratio: Return relative to average drawdown	0.14	-0.34	+0.48

PCCE vs. KLIP - Sharpe Ratio Comparison

The current PCCE Sharpe Ratio is 0.07, which is higher than the KLIP Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of PCCE and KLIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PCCE vs. KLIP - Drawdown Comparison

The maximum PCCE drawdown since its inception was -26.38%, which is greater than KLIP's maximum drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for PCCE and KLIP.

Drawdown Indicators

	PCCE	KLIP	Difference
Max Drawdown Largest peak-to-trough decline	-26.38%	-21.48%	-4.90%
Max Drawdown (1Y) Largest decline over 1 year	-16.59%	-21.48%	+4.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.48%	—
Current Drawdown Current decline from peak	-12.02%	-12.12%	+0.10%
Average Drawdown Average peak-to-trough decline	-10.18%	-4.33%	-5.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.09%	9.22%	-0.13%

Volatility

PCCE vs. KLIP - Volatility Comparison

Polen Capital China Growth ETF (PCCE) has a higher volatility of 5.88% compared to KraneShares China Internet and Covered Call Strategy ETF (KLIP) at 2.37%. This indicates that PCCE's price experiences larger fluctuations and is considered to be riskier than KLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PCCE	KLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	2.37%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	15.27%	12.99%	+2.28%
Volatility (1Y) Calculated over the trailing 1-year period	19.98%	16.60%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.88%	17.98%	+7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.88%	17.98%	+7.90%

PCCE vs. KLIP - Expense Ratio Comparison

PCCE has a 1.00% expense ratio, which is higher than KLIP's 0.95% expense ratio.

Dividends

PCCE vs. KLIP - Dividend Comparison

PCCE's dividend yield for the trailing twelve months is around 2.37%, less than KLIP's 27.54% yield.

Position	TTM	2025	2024	2023
KLIP KraneShares China Internet and Covered Call Strategy ETF	27.54%	25.14%	54.26%	61.22%
PCCE Polen Capital China Growth ETF	2.37%	2.29%	1.95%	0.00%

Frequently Asked Questions

Can I hold both PCCE and KLIP in my portfolio?

PCCE and KLIP have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PCCE or KLIP?

PCCE has higher volatility (5.88%) compared to KLIP (2.37%). In terms of maximum drawdown, PCCE dropped -26.38% vs KLIP's -21.48%.

Which ETF is better, PCCE or KLIP?

On 1-year performance, PCCE leads with 1.31% vs -3.11% for KLIP. On fees, KLIP is cheaper at 0.95% per year. On volatility, KLIP has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PCCE or KLIP?

Over the 1-year period, PCCE has performed better with a 1.31% return vs -3.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PCCE or KLIP?

KLIP is cheaper with a 0.95% expense ratio, compared with 1.00% for PCCE.

Which ETF pays a higher dividend yield, PCCE or KLIP?

KLIP has the higher dividend yield at 27.54%, compared with 2.37% for PCCE.

What is the main difference between PCCE and KLIP?

They also come from different issuers: Polen and KraneShares. Their fees differ too: 1.00% for PCCE and 0.95% for KLIP.

Which has better risk-adjusted returns?

PCCE currently has the higher Sharpe Ratio (0.07 vs -0.19), 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.