KALL vs QQQ
KraneShares MSCI All China Index ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. KALL offers more diversification with 210 holdings.
Side-by-Side Comparison
| Metric | KALL | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.18% | |
| AUM | $9M | $496.3B | |
| Dividend Yield | 2.19% | 0.44% | |
| Holdings | 210 | 108 | |
| YTD Return | +11.08% | +16.23% | |
| 1Y Return | +11.64% | +26.23% | |
| 3Y Return (annualized) | +2.79% | +25.75% | |
| 5Y Return (annualized) | +0.69% | +14.78% | |
| Volatility (annualized) | 26.1% | 30.6% | |
| Max Drawdown | -56.3% | -83.0% | |
| Fund Family | KraneShares | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Feb 12, 2015 | Mar 10, 1999 |
KALL vs QQQ Performance
KraneShares MSCI All China Index ETF (KALL) is a ETF from KraneShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year KALL returned +11.64% while QQQ returned +26.23%. Year to date, KALL is up 11.08% versus a gain of 16.23% for QQQ.
Over three years, KALL compounded at +2.79% per year against +25.75% for QQQ; over five years the annualized figures are +0.69% and +14.78% respectively. Across the full 10-year window we track, QQQ has the edge at +13.02% annualized vs +1.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 26.1% for KALL. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.3% for KALL and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KALL charges 0.49% per year while QQQ charges 0.18%. On a $10,000 position that is $49 vs $18 annually, a gap of $31 per year that compounds over a long holding period. On income, KALL currently yields 2.19% against 0.44% for QQQ.
Frequently Asked Questions
Which is cheaper, KALL or QQQ?
KALL has an expense ratio of 0.49% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, KALL or QQQ?
Over the past year KALL returned +11.64% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (10 years), KALL annualized +1.50% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, KALL or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 26.1% for KALL. Worst drawdown: KALL -56.3% vs QQQ -83.0%.
Should I hold both KALL and QQQ?
KALL and QQQ have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, KALL or QQQ?
KALL yields 2.19% while QQQ yields 0.44%, so KALL currently pays the higher dividend yield.
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