KraneShares China Alpha ETF (KCAI) Performance
KCAI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.7% since Dec 31, 2025
- 1 year
- +13.5% total return
- Since first price
- +80.0% since 2024
KCAI trailing returns vs SPY, QQQ, AGG
| Period | KCAI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.8% | −2.8% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.6% | −0.6% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.3% | −2.3% | +7.8% | +8.4% | −1.5% |
| YTD | +5.7% | +5.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +13.5% | +13.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionAug 28, 2024 | +80.0% | +75.6% | — | — | — |
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: KCAI vs SPY
From Aug 28, 2024: KCAI grew to $18,003, SPY to $13,969.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
KCAI returns by calendar year
1 of 1 full years positive. Best 2025 (+53.3%), worst 2025 (+53.3%). 2026 is year to date.
KCAI annual returns table
| Year | KCAI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.7% | −5.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +53.3% | −13.2% | +17.7% | +20.8% | +7.2% |
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.
KCAI largest drawdowns
Now 4.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 7, 2024 | −25.5% | Apr 7, 2025 | Jul 30, 2025 | 6 months | 10 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
KCAI risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +32.7% |
| Volatility (annualized) | 16.8% |
| Sharpe ratio | 1.54 |
| Sortino ratio | 4.92 |
| Best month | +15.1% |
| Worst month | −5.2% |
| Best 12 months | +67.4% |
| Worst 12 months | +18.0% |
| Positive months | 68% |
| 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.
KCAI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 15 | +12.8% | +47.9% | +67.4% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
KCAI performance overview
KraneShares China Alpha ETF (KCAI) returned +13.5% over the past year, with distributions reinvested. Since its first recorded price on Aug 28, 2024 it has returned +80.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −25.5%, from Oct 7, 2024 to Apr 7, 2025, and it took 4 months to get back to the old high. Volatility has been 16.8% a year.
Related: KCAI chart, KCAI dividends. See the KCAI overview for the latest quote and fund facts.
KCAI performance FAQ
What is the KCAI return over the past year?
KCAI returned +13.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.2%.
How much would $10,000 invested in KCAI be worth?
$10,000 invested in KCAI at its first recorded close on August 28, 2024 would be worth about $18,003 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of KCAI?
The largest peak-to-trough decline was −25.5% between October 7, 2024 and April 7, 2025. It recovered to the old high on July 30, 2025, 4 months after the bottom.
How volatile is KCAI?
Over the past history KCAI had an annualized volatility of 16.8% and a Sharpe ratio of 1.54 (excess return over 1–3 month T-bills per unit of risk).