VNM vs. KBA

Last updated Aug 4, 2026

VNM (VanEck Vectors Vietnam ETF) and KBA (KraneShares Bosera MSCI China A Share ETF) are both exchange-traded funds - VNM is a Asia Pacific Equities fund tracking the MVIS Vietnam Index, while KBA is a China Equities fund tracking the MSCI China A Index. Both are passively managed. Over the past 10 years, VNM returned 3.26%/yr vs 9.23%/yr for KBA. Their 0.28 correlation means their historical movements had little consistent relationship. VNM charges 0.68%/yr vs 0.60%/yr for KBA.

Performance

VNM vs. KBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Vietnam ETF (VNM) and KraneShares Bosera MSCI China A Share ETF (KBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VNM achieves a -8.28% return, which is significantly lower than KBA's 6.21% return. Over the past 10 years, VNM has underperformed KBA with an annualized return of 3.26%, while KBA has yielded a comparatively higher 9.23% annualized return.

VNM

• 1D: 3.06%
• 1M: -5.35%
• 6M: -6.77%
• YTD: -8.28%
• 1Y: 9.95%
• 3Y*: 7.02%
• 5Y*: -1.14%
• 10Y*: 3.26%
• ALL TIME*: -0.96%

KBA

• 1D: -0.88%
• 1M: 0.24%
• 6M: 7.78%
• YTD: 6.21%
• 1Y: 32.90%
• 3Y*: 12.04%
• 5Y*: 6.35%
• 10Y*: 9.23%
• ALL TIME*: 9.44%

*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)
KBA KraneShares Bosera MSCI China A Share ETF	$823.16K	$863.47K	$2.10M
VNM VanEck Vectors Vietnam ETF	$13.14M	$11.75M	$11.73M

VNM vs. KBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNM VanEck Vectors Vietnam ETF	-8.28%	66.55%	-11.15%	15.01%	-43.74%	22.05%	9.84%	9.24%	-16.83%	38.80%
KBA KraneShares Bosera MSCI China A Share ETF	6.21%	33.88%	15.73%	-16.77%	-3.49%	3.17%	41.62%	35.44%	-26.28%	30.69%

Correlation

The correlation between VNM and KBA is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.12
Correlation (5Y) Shows whether the relationship held over a longer period.	0.18
Correlation (10Y) Provides a long-term view across more market conditions.	0.30
Correlation (All Time) Calculated using the full available price history since Mar 5, 2014	0.28

The correlation between VNM and KBA shifts across timeframes, from 0.12 (3 years) to 0.30 (10 years), reflecting how their relationship changes across market environments.

VNM vs. KBA - Sectors Allocation Comparison

Sectors	VNM	KBA
Financial Services	32.7%	16.9%
Real Estate	24.8%	0.4%
Industrials	14.3%	14.4%
Consumer Defensive	14.3%	5.8%
Basic Materials	7.0%	10.1%
Technology	2.5%	37.5%
Consumer Cyclical	2.2%	4.1%
Energy	1.4%	2.4%
Utilities	0.9%	3.2%
Communication Services	-	1.2%
Healthcare	-	4.0%

Return for Risk

VNM vs. KBA — Risk / Return Rank

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

VNM

VNM Risk / Return Rank: 20
VNM Sharpe Ratio Rank: 19
VNM Sortino Ratio Rank: 21
VNM Omega Ratio Rank: 19
VNM Calmar Ratio Rank: 21
VNM Martin Ratio Rank: 20

KBA

KBA Risk / Return Rank: 71
KBA Sharpe Ratio Rank: 66
KBA Sortino Ratio Rank: 64
KBA Omega Ratio Rank: 64
KBA Calmar Ratio Rank: 90
KBA Martin Ratio Rank: 73

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.

VNM vs. KBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Vietnam ETF (VNM) and KraneShares Bosera MSCI China A Share ETF (KBA). 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.

	VNM	KBA	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.59	-1.21
Sortino ratio: Return per unit of downside risk	0.74	2.22	-1.48
Omega ratio: Gain probability vs. loss probability	1.08	1.28	-0.20
Calmar ratio: Return relative to maximum drawdown	0.57	3.97	-3.39
Martin ratio: Return relative to average drawdown	1.25	9.40	-8.15

VNM vs. KBA - Sharpe Ratio Comparison

The current VNM Sharpe Ratio is 0.37, which is lower than the KBA Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of VNM and KBA, 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

VNM vs. KBA - Drawdown Comparison

The maximum VNM drawdown since its inception was -63.19%, which is greater than KBA's maximum drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for VNM and KBA.

Drawdown Indicators

	VNM	KBA	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-53.24%	-9.95%
Max Drawdown (1Y) Largest decline over 1 year	-17.47%	-8.33%	-9.14%
Max Drawdown (3Y) Largest decline over 3 years	-31.60%	-31.23%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-49.95%	-39.76%	-10.19%
Max Drawdown (10Y) Largest decline over 10 years	-51.67%	-45.32%	-6.35%
Current Drawdown Current decline from peak	-28.57%	-7.29%	-21.28%
Average Drawdown Average peak-to-trough decline	-37.73%	-25.53%	-12.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.98%	3.51%	+4.47%

Volatility

VNM vs. KBA - Volatility Comparison

VanEck Vectors Vietnam ETF (VNM) has a higher volatility of 8.83% compared to KraneShares Bosera MSCI China A Share ETF (KBA) at 7.91%. This indicates that VNM's price experiences larger fluctuations and is considered to be riskier than KBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VNM	KBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.83%	7.91%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	18.63%	16.42%	+2.21%
Volatility (1Y) Calculated over the trailing 1-year period	26.88%	20.87%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	27.34%	-2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.53%	25.51%	-1.98%

VNM vs. KBA - Expense Ratio Comparison

VNM has a 0.68% expense ratio, which is higher than KBA's 0.60% expense ratio.

Dividends

VNM vs. KBA - Dividend Comparison

VNM's dividend yield for the trailing twelve months is around 0.22%, less than KBA's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBA KraneShares Bosera MSCI China A Share ETF	1.47%	1.56%	2.18%	2.34%	49.05%	9.07%	0.65%	1.53%	3.77%	1.46%	6.62%	29.08%
VNM VanEck Vectors Vietnam ETF	0.22%	0.20%	0.00%	5.21%	0.96%	0.49%	0.40%	0.76%	0.83%	1.14%	2.44%	3.69%

Frequently Asked Questions

Can I hold both VNM and KBA in my portfolio?

VNM and KBA have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNM or KBA?

VNM has higher volatility (8.83%) compared to KBA (7.91%). In terms of maximum drawdown, VNM dropped -63.19% vs KBA's -53.24%.

Which ETF is better, VNM or KBA?

On 10-year performance, KBA leads with 9.23% vs 3.26% for VNM. On fees, KBA is cheaper at 0.60% per year. On volatility, KBA has been the lower-risk option at 7.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNM or KBA?

Over the 10-year period, KBA has performed better with a 9.23% return vs 3.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNM or KBA?

KBA is cheaper with a 0.60% expense ratio, compared with 0.68% for VNM.

Which ETF pays a higher dividend yield, VNM or KBA?

KBA has the higher dividend yield at 1.47%, compared with 0.22% for VNM.

What is the main difference between VNM and KBA?

VNM is categorized as Asia Pacific Equities, while KBA is China Equities. VNM tracks MVIS Vietnam Index, while KBA tracks MSCI China A Index. They also come from different issuers: VanEck and CICC. Their fees differ too: 0.68% for VNM and 0.60% for KBA.

Which has better risk-adjusted returns?

KBA currently has the higher Sharpe Ratio (1.59 vs 0.37), 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.