XNNS.L vs. KWEB.L

Last updated Jun 5, 2026

XNNS.L (Xtrackers MSCI Innovation UCITS ETF 1C) and KWEB.L (KraneShares CSI China Internet ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from DWS and Waystone Management respectively. Both are passively managed. At a 0.44 correlation, their price movements are largely independent. XNNS.L charges 0.35%/yr vs 0.75%/yr for KWEB.L.

Performance

XNNS.L vs. KWEB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Innovation UCITS ETF 1C (XNNS.L) and KraneShares CSI China Internet ETF (KWEB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XNNS.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

XNNS.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

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

	2026 (YTD)	2025	2024	2023	2022
XNNS.L Xtrackers MSCI Innovation UCITS ETF 1C	-7.92%	6.27%	24.09%	26.71%	-12.09%
KWEB.L KraneShares CSI China Internet ETF	-20.11%	16.41%	15.45%	-14.37%	-2.75%

Correlation

The correlation between XNNS.L and KWEB.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jul 21, 2022	0.44

Return for Risk

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

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Innovation UCITS ETF 1C (XNNS.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XNNS.L	KWEB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.53	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.07	—

Drawdowns

Drawdown Indicators

	XNNS.L	KWEB.L	Difference
Max Drawdown Largest peak-to-trough decline	—	-76.83%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-34.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-65.91%	—
Current Drawdown Current decline from peak	—	-67.18%	—
Average Drawdown Average peak-to-trough decline	—	-44.39%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	16.70%	—

Volatility

Volatility by Period

	XNNS.L	KWEB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	26.00%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	44.74%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	41.16%	—

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

XNNS.L has a 0.35% expense ratio, which is lower than KWEB.L's 0.75% expense ratio.

Dividends

XNNS.L vs. KWEB.L - Dividend Comparison

Neither XNNS.L nor KWEB.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

XNNS.L and KWEB.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, XNNS.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

XNNS.L is cheaper with a 0.35% expense ratio, compared with 0.75% for KWEB.L.

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

Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: DWS and Waystone Management. Their fees differ too: 0.35% for XNNS.L and 0.75% for KWEB.L.