SIXH vs. KSPY

Last updated Aug 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and KSPY (Kraneshares Hedgeye Hedged Equity Index ETF) are both Equity Hedged funds. SIXH is actively managed, while KSPY is passively managed. Over the past year, SIXH returned 15.22% vs 18.09% for KSPY. Their 0.21 correlation means their historical movements had little consistent relationship. SIXH charges 0.87%/yr vs 0.78%/yr for KSPY.

Performance

SIXH vs. KSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Kraneshares Hedgeye Hedged Equity Index ETF (KSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 11.60% return, which is significantly higher than KSPY's 8.60% return.

SIXH

• 1D: -0.19%
• 1M: 1.06%
• 6M: 6.10%
• YTD: 11.60%
• 1Y: 15.22%
• 3Y*: 13.11%
• 5Y*: 9.52%
• 10Y*: —
• ALL TIME*: 11.19%

KSPY

• 1D: 0.39%
• 1M: 1.96%
• 6M: 6.24%
• YTD: 8.60%
• 1Y: 18.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.82%

*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)
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	$1.58M	$1.28M	$1.11M
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	$1.56M	$1.08M	$613.75K

SIXH vs. KSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	11.60%	9.47%	4.32%
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	8.60%	13.89%	3.51%

Correlation

The correlation between SIXH and KSPY is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (All Time) Calculated using the full available price history since Jul 16, 2024	0.21

Return for Risk

SIXH vs. KSPY — Risk / Return Rank

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

SIXH

SIXH Risk / Return Rank: 80
SIXH Sharpe Ratio Rank: 80
SIXH Sortino Ratio Rank: 87
SIXH Omega Ratio Rank: 78
SIXH Calmar Ratio Rank: 86
SIXH Martin Ratio Rank: 69

KSPY

KSPY Risk / Return Rank: 92
KSPY Sharpe Ratio Rank: 90
KSPY Sortino Ratio Rank: 91
KSPY Omega Ratio Rank: 93
KSPY Calmar Ratio Rank: 90
KSPY Martin Ratio Rank: 94

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.

SIXH vs. KSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Kraneshares Hedgeye Hedged Equity Index ETF (KSPY). 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.

	SIXH	KSPY	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.37	-0.42
Sortino ratio: Return per unit of downside risk	3.04	3.45	-0.41
Omega ratio: Gain probability vs. loss probability	1.34	1.50	-0.16
Calmar ratio: Return relative to maximum drawdown	3.50	4.07	-0.57
Martin ratio: Return relative to average drawdown	8.88	20.26	-11.38

SIXH vs. KSPY - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.94, which is comparable to the KSPY Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SIXH and KSPY, 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

SIXH vs. KSPY - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, roughly equal to the maximum KSPY drawdown of -11.67%. Use the drawdown chart below to compare losses from any high point for SIXH and KSPY.

Drawdown Indicators

	SIXH	KSPY	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-11.67%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-4.46%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	—	—
Current Drawdown Current decline from peak	-1.82%	0.00%	-1.82%
Average Drawdown Average peak-to-trough decline	-1.82%	-1.13%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	0.89%	+0.83%

Volatility

SIXH vs. KSPY - Volatility Comparison

6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a higher volatility of 2.40% compared to Kraneshares Hedgeye Hedged Equity Index ETF (KSPY) at 1.97%. This indicates that SIXH's price experiences larger fluctuations and is considered to be riskier than KSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	KSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	1.97%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	6.18%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	7.69%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	10.41%	-0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	10.41%	-0.32%

SIXH vs. KSPY - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is higher than KSPY's 0.78% expense ratio.

Dividends

SIXH vs. KSPY - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.83%, less than KSPY's 5.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
KSPY Kraneshares Hedgeye Hedged Equity Index ETF	5.68%	6.16%	1.31%	0.00%	0.00%	0.00%	0.00%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.83%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%

Frequently Asked Questions

Can I hold both SIXH and KSPY in my portfolio?

SIXH and KSPY have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or KSPY?

SIXH has higher volatility (2.40%) compared to KSPY (1.97%). In terms of maximum drawdown, SIXH dropped -11.68% vs KSPY's -11.67%.

Which ETF is better, SIXH or KSPY?

On 1-year performance, KSPY leads with 18.09% vs 15.22% for SIXH. On fees, KSPY is cheaper at 0.78% per year. On volatility, KSPY has been the lower-risk option at 1.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXH or KSPY?

Over the 1-year period, KSPY has performed better with a 18.09% return vs 15.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXH or KSPY?

KSPY is cheaper with a 0.78% expense ratio, compared with 0.87% for SIXH.

Which ETF pays a higher dividend yield, SIXH or KSPY?

KSPY has the higher dividend yield at 5.68%, compared with 1.83% for SIXH.

What is the main difference between SIXH and KSPY?

They also come from different issuers: Exchange Traded Concepts and KraneShares. Their fees differ too: 0.87% for SIXH and 0.78% for KSPY.

Which has better risk-adjusted returns?

KSPY currently has the higher Sharpe Ratio (2.37 vs 1.94), 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.