SHLG.L vs. KWEB.L

Last updated Jun 5, 2026

SHLG.L (iShares Digital Security UCITS ETF USD (Dist)) and KWEB.L (KraneShares CSI China Internet ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from iShares and Waystone Management respectively. Both are passively managed. Over the past 5 years, SHLG.L returned 11.16%/yr vs -13.04%/yr for KWEB.L. At a 0.36 correlation, their price movements are largely independent. SHLG.L charges 0.40%/yr vs 0.75%/yr for KWEB.L.

Performance

SHLG.L vs. KWEB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) and KraneShares CSI China Internet ETF (KWEB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SHLG.L is traded in GBP, while KWEB.L is traded in USD. To make them comparable, the KWEB.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, SHLG.L achieves a 19.45% return, which is significantly higher than KWEB.L's -20.11% return.

SHLG.L

• 1D: -2.36%
• 1M: 11.41%
• YTD: 19.45%
• 6M: 19.72%
• 1Y: 25.67%
• 3Y*: 18.72%
• 5Y*: 11.16%
• 10Y*: —

KWEB.L

• 1D: -0.07%
• 1M: -3.46%
• YTD: -20.11%
• 6M: -22.68%
• 1Y: -13.75%
• 3Y*: 2.21%
• 5Y*: -13.04%
• 10Y*: —

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

SHLG.L vs. KWEB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SHLG.L iShares Digital Security UCITS ETF USD (Dist)	19.45%	3.87%	18.54%	26.67%	-20.62%	20.85%
KWEB.L KraneShares CSI China Internet ETF	-20.13%	16.41%	15.45%	-14.37%	-8.26%	-55.93%

Correlation

The correlation between SHLG.L and KWEB.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021	0.36

SHLG.L vs. KWEB.L - Sectors Allocation Comparison

Sectors	SHLG.L	KWEB.L
Technology	84.2%	16.9%
Industrials	11.3%	3.2%
Real Estate	4.6%	4.7%
Basic Materials	-	-
Communication Services	-	24.3%
Consumer Cyclical	-	39.2%
Consumer Defensive	-	3.0%
Energy	-	-
Financial Services	-	1.9%
Healthcare	-	6.2%
Utilities	-	-

Return for Risk

SHLG.L vs. KWEB.L — Risk / Return Rank

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

SHLG.L

SHLG.L Risk / Return Rank: 39
SHLG.L Sharpe Ratio Rank: 39
SHLG.L Sortino Ratio Rank: 39
SHLG.L Omega Ratio Rank: 40
SHLG.L Calmar Ratio Rank: 43
SHLG.L Martin Ratio Rank: 32

KWEB.L

KWEB.L Risk / Return Rank: 5
KWEB.L Sharpe Ratio Rank: 4
KWEB.L Sortino Ratio Rank: 4
KWEB.L Omega Ratio Rank: 4
KWEB.L Calmar Ratio Rank: 5
KWEB.L Martin Ratio Rank: 5

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.

SHLG.L vs. KWEB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) and KraneShares CSI China Internet ETF (KWEB.L). 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.

	SHLG.L	KWEB.L	Difference
Sharpe ratio: Return per unit of total volatility	1.36	-0.53	+1.89
Sortino ratio: Return per unit of downside risk	1.97	-0.63	+2.60
Omega ratio: Gain probability vs. loss probability	1.25	0.93	+0.32
Calmar ratio: Return relative to maximum drawdown	2.06	-0.40	+2.46
Martin ratio: Return relative to average drawdown	4.80	-0.82	+5.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHLG.L vs. KWEB.L - Sharpe Ratio Comparison

The current SHLG.L Sharpe Ratio is 1.36, which is higher than the KWEB.L Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of SHLG.L and KWEB.L, 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

	SHLG.L	KWEB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	-0.53	+1.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	-0.29	+0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	-0.07	+0.69

Drawdowns

SHLG.L vs. KWEB.L - Drawdown Comparison

The maximum SHLG.L drawdown since its inception was -27.07%, smaller than the maximum KWEB.L drawdown of -76.83%. Use the drawdown chart below to compare losses from any high point for SHLG.L and KWEB.L.

Drawdown Indicators

	SHLG.L	KWEB.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.07%	-76.83%	+49.76%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-34.43%	+21.78%
Max Drawdown (3Y) Largest decline over 3 years	-24.02%	-34.43%	+10.41%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-65.91%	+38.84%
Current Drawdown Current decline from peak	-2.80%	-67.18%	+64.38%
Average Drawdown Average peak-to-trough decline	-9.50%	-44.39%	+34.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.43%	16.70%	-11.27%

Volatility

SHLG.L vs. KWEB.L - Volatility Comparison

The current volatility for iShares Digital Security UCITS ETF USD (Dist) (SHLG.L) is 7.69%, while KraneShares CSI China Internet ETF (KWEB.L) has a volatility of 11.03%. This indicates that SHLG.L experiences smaller price fluctuations and is considered to be less risky than KWEB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLG.L	KWEB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	11.03%	-3.34%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	19.53%	-4.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	26.00%	-6.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.97%	44.74%	-25.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	41.16%	-22.29%

SHLG.L vs. KWEB.L - Expense Ratio Comparison

SHLG.L has a 0.40% expense ratio, which is lower than KWEB.L's 0.75% expense ratio.

Dividends

SHLG.L vs. KWEB.L - Dividend Comparison

SHLG.L's dividend yield for the trailing twelve months is around 0.33%, while KWEB.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
KWEB.L KraneShares CSI China Internet ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SHLG.L iShares Digital Security UCITS ETF USD (Dist)	0.33%	0.39%	0.47%	0.43%	0.62%	0.66%

Frequently Asked Questions

Can I hold both SHLG.L and KWEB.L in my portfolio?

SHLG.L and KWEB.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHLG.L or KWEB.L?

On fees, SHLG.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHLG.L or KWEB.L?

SHLG.L is cheaper with a 0.40% expense ratio, compared with 0.75% for KWEB.L.

What is the main difference between SHLG.L and KWEB.L?

Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: iShares and Waystone Management. Their fees differ too: 0.40% for SHLG.L and 0.75% for KWEB.L.