KRBN vs SPY
KraneShares Global Carbon Strategy 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 | KRBN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.09% | |
| AUM | $139M | $789.1B | |
| Dividend Yield | 2.04% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | -3.89% | +14.47% | |
| 1Y Return | +14.56% | +21.96% | |
| 3Y Return (annualized) | +0.71% | +21.70% | |
| 5Y Return (annualized) | +6.31% | +13.30% | |
| Volatility (annualized) | 23.0% | 15.3% | |
| Max Drawdown | -36.4% | -56.5% | |
| Fund Family | KraneShares | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Jul 29, 2020 | Jan 22, 1993 |
KRBN vs SPY Performance
KraneShares Global Carbon Strategy ETF (KRBN) 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 KRBN returned +14.56% while SPY returned +21.96%. Year to date, KRBN is down 3.89% versus a gain of 14.47% for SPY.
Over three years, KRBN compounded at +0.71% per year against +21.70% for SPY; over five years the annualized figures are +6.31% and +13.30% respectively. Across the full 6-year window we track, KRBN has the edge at +16.22% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KRBN has been the more volatile fund, with annualized monthly volatility of 23.0% 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 -36.4% for KRBN 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KRBN charges 0.90% per year while SPY charges 0.09%. On a $10,000 position that is $90 vs $9 annually, a gap of $81 per year that compounds over a long holding period. On income, KRBN currently yields 2.04% against 1.01% for SPY.
Holdings Overlap
KRBN and SPY share 0 holdings out of 505 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, KRBN or SPY?
KRBN has an expense ratio of 0.90% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, KRBN or SPY?
Over the past year KRBN returned +14.56% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), KRBN annualized +16.22% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, KRBN or SPY?
KRBN has been the more volatile fund at 23.0% annualized versus 15.3% for SPY. Worst drawdown: KRBN -36.4% vs SPY -56.5%.
Should I hold both KRBN and SPY?
KRBN and SPY have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KRBN and SPY?
KRBN and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, KRBN or SPY?
KRBN yields 2.04% while SPY yields 1.01%, so KRBN currently pays the higher dividend yield.
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