KraneShares 2x Long BABA Daily ETF (KBAB) Performance
KBAB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −54.9% since Dec 31, 2025
- 1 year
- −68.3% total return
- Since first price
- −58.4% since 2025
KBAB trailing returns vs SPY, QQQ, AGG
| Period | KBAB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.4% | −4.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −14.1% | −14.1% | +3.2% | +1.9% | −0.4% |
| 6 months | −38.8% | −38.8% | +7.8% | +8.4% | −1.5% |
| YTD | −54.9% | −54.9% | +12.3% | +15.1% | −1.0% |
| 1 year | −68.3% | −68.4% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 12, 2025 | −58.4% | −58.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: KBAB vs SPY
From Mar 12, 2025: KBAB grew to $4,163, SPY to $13,865.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
KBAB returns by calendar year
2026 is year to date.
KBAB annual returns table
| Year | KBAB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −54.9% | −73.8% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
KBAB largest drawdowns
Now 74.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 2, 2025 | −79.0% | Jun 25, 2026 | not yet | 9 months | 1.1 years so far |
| Mar 17, 2025 | −56.6% | Apr 8, 2025 | Sep 15, 2025 | 22 days | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
KBAB risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −41.7% |
| Volatility (annualized) | 101.7% |
| Sharpe ratio | -0.13 |
| Sortino ratio | -0.23 |
| Best month | +69.4% |
| Worst month | −40.3% |
| Best 12 months | −4.0% |
| Worst 12 months | −71.9% |
| Positive months | 39% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
KBAB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 8 | −71.9% | −38.5% | −4.0% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
KBAB performance overview
KraneShares 2x Long BABA Daily ETF (KBAB) returned −68.3% over the past year, with distributions reinvested. Since its first recorded price on Mar 12, 2025 it has returned −58.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −79.0%, from Oct 2, 2025 to Jun 25, 2026; the fund has not yet regained that high. Volatility has been 101.7% a year.
Related: KBAB chart, KBAB dividends. See the KBAB overview for the latest quote and fund facts.
KBAB performance FAQ
What is the KBAB return over the past year?
KBAB returned −68.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 68.4%.
How much would $10,000 invested in KBAB be worth?
$10,000 invested in KBAB at its first recorded close on March 12, 2025 would be worth about $4,163 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of KBAB?
The largest peak-to-trough decline was −79.0% between October 2, 2025 and June 25, 2026. It has not yet recovered to that high; it is 74.6% below its peak.
How volatile is KBAB?
Over the past history KBAB had an annualized volatility of 101.7% and a Sharpe ratio of -0.13 (excess return over 1–3 month T-bills per unit of risk).