KBAB vs SPY
KraneShares 2x Long BABA Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | KBAB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.00% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 159.10% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -44.44% | +13.68% | |
| 1Y Return | -20.74% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 103.4% | 15.3% | |
| Max Drawdown | -79.0% | -56.5% | |
| Fund Family | KraneShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 11, 2025 | Jan 22, 1993 |
KBAB vs SPY Performance
KraneShares 2x Long BABA Daily ETF (KBAB) is a ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KBAB returned -20.74% while SPY returned +21.53%. Year to date, KBAB is down 44.44% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
KBAB has been the more volatile fund, with annualized monthly volatility of 103.4% compared with 15.3% for SPY. 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 -79.0% for KBAB and -56.5% for SPY. 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 0.28. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KBAB charges 1.00% per year while SPY charges 0.09%. On a $10,000 position that is $100 vs $9 annually, a gap of $91 per year that compounds over a long holding period. On income, KBAB currently yields 159.10% against 1.01% for SPY.
Holdings Overlap
KBAB and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, KBAB or SPY?
KBAB has an expense ratio of 1.00% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, KBAB or SPY?
Over the past year KBAB returned -20.74% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), KBAB annualized -32.29% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, KBAB or SPY?
KBAB has been the more volatile fund at 103.4% annualized versus 15.3% for SPY. Worst drawdown: KBAB -79.0% vs SPY -56.5%.
Should I hold both KBAB and SPY?
KBAB and SPY have a monthly-return correlation of 0.28, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KBAB and SPY?
KBAB and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, KBAB or SPY?
KBAB yields 159.10% while SPY yields 1.01%, so KBAB currently pays the higher dividend yield.
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