PEX vs. KKR

Last updated Jun 5, 2026

PEX (ProShares Global Listed Private Equity ETF) is Financials Equities fund tracking the LPX Direct Listed Private Equity Index, while KKR (KKR & Co. Inc.) is a stock. Over the past 10 years, PEX returned 4.28%/yr vs 23.19%/yr for KKR. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

PEX vs. KKR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Global Listed Private Equity ETF (PEX) and KKR & Co. Inc. (KKR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEX achieves a -10.72% return, which is significantly higher than KKR's -24.83% return. Over the past 10 years, PEX has underperformed KKR with an annualized return of 4.28%, while KKR has yielded a comparatively higher 23.19% annualized return.

PEX

• 1D: 2.01%
• 1M: -4.44%
• YTD: -10.72%
• 6M: -9.64%
• 1Y: -11.43%
• 3Y*: 4.28%
• 5Y*: -0.72%
• 10Y*: 4.28%

KKR

• 1D: 5.45%
• 1M: -6.23%
• YTD: -24.83%
• 6M: -25.39%
• 1Y: -20.26%
• 3Y*: 21.72%
• 5Y*: 12.44%
• 10Y*: 23.19%

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

PEX vs. KKR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEX ProShares Global Listed Private Equity ETF	-10.72%	0.21%	13.05%	23.11%	-25.98%	28.34%	-1.14%	25.53%	-13.31%	14.33%
KKR KKR & Co. Inc.	-24.83%	-13.32%	79.65%	80.48%	-36.98%	85.76%	41.13%	51.57%	-4.28%	41.78%

Correlation

The correlation between PEX and KKR is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Mar 1, 2013	0.51

The correlation between PEX and KKR shifts across timeframes, from 0.51 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PEX vs. KKR — Risk / Return Rank

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

PEX

PEX Risk / Return Rank: 4
PEX Sharpe Ratio Rank: 3
PEX Sortino Ratio Rank: 3
PEX Omega Ratio Rank: 3
PEX Calmar Ratio Rank: 5
PEX Martin Ratio Rank: 5

KKR

KKR Risk / Return Rank: 22
KKR Sharpe Ratio Rank: 18
KKR Sortino Ratio Rank: 19
KKR Omega Ratio Rank: 19
KKR Calmar Ratio Rank: 26
KKR Martin Ratio Rank: 26

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.

PEX vs. KKR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Global Listed Private Equity ETF (PEX) and KKR & Co. Inc. (KKR). 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.

	PEX	KKR	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	-0.55	-0.18
Sortino ratio: Return per unit of downside risk	-0.94	-0.57	-0.37
Omega ratio: Gain probability vs. loss probability	0.89	0.93	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.46	-0.46	-0.01
Martin ratio: Return relative to average drawdown	-0.93	-0.85	-0.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEX vs. KKR - Sharpe Ratio Comparison

The current PEX Sharpe Ratio is -0.73, which is lower than the KKR Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of PEX and KKR, 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

	PEX	KKR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	-0.55	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.32	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.64	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.54	-0.28

Drawdowns

PEX vs. KKR - Drawdown Comparison

The maximum PEX drawdown since its inception was -49.17%, smaller than the maximum KKR drawdown of -53.10%. Use the drawdown chart below to compare losses from any high point for PEX and KKR.

Drawdown Indicators

	PEX	KKR	Difference
Max Drawdown Largest peak-to-trough decline	-49.17%	-53.10%	+3.93%
Max Drawdown (1Y) Largest decline over 1 year	-24.72%	-44.62%	+19.90%
Max Drawdown (3Y) Largest decline over 3 years	-24.72%	-49.42%	+24.70%
Max Drawdown (5Y) Largest decline over 5 years	-36.58%	-49.42%	+12.84%
Max Drawdown (10Y) Largest decline over 10 years	-49.17%	-49.42%	+0.25%
Current Drawdown Current decline from peak	-19.31%	-42.32%	+23.01%
Average Drawdown Average peak-to-trough decline	-8.22%	-16.16%	+7.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.28%	23.97%	-11.69%

Volatility

PEX vs. KKR - Volatility Comparison

The current volatility for ProShares Global Listed Private Equity ETF (PEX) is 5.22%, while KKR & Co. Inc. (KKR) has a volatility of 10.07%. This indicates that PEX experiences smaller price fluctuations and is considered to be less risky than KKR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEX	KKR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	10.07%	-4.85%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	29.94%	-16.72%
Volatility (1Y) Calculated over the trailing 1-year period	15.75%	37.24%	-21.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.99%	39.24%	-21.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.45%	36.64%	-17.19%

Dividends

PEX vs. KKR - Dividend Comparison

PEX's dividend yield for the trailing twelve months is around 12.56%, more than KKR's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KKR KKR & Co. Inc.	0.79%	0.57%	0.47%	0.78%	1.31%	0.77%	1.31%	1.71%	3.23%	3.18%	4.16%	10.13%
PEX ProShares Global Listed Private Equity ETF	12.56%	12.80%	14.11%	13.02%	1.77%	13.64%	5.52%	7.94%	4.72%	24.26%	3.24%	12.50%

Frequently Asked Questions

Can I hold both PEX and KKR in my portfolio?

PEX and KKR have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEX or KKR?

KKR has higher volatility (10.07%) compared to PEX (5.22%). In terms of maximum drawdown, PEX dropped -49.17% vs KKR's -53.10%.

Which has better risk-adjusted returns?

KKR currently has the higher Sharpe Ratio (-0.55 vs -0.73), 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.