KraneShares KWEB Covered Call Strategy ETF (KLIP) Performance
KLIP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −15.1% since Dec 31, 2025
- 1 year
- −17.7% total return
- 3 years
- +3.9% a year
- Since first price
- +3.8% a year since 2023
KLIP trailing returns vs SPY, QQQ, AGG
| Period | KLIP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.4% | −6.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.5% | −12.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −8.8% | −19.2% | +7.8% | +8.4% | −1.5% |
| YTD | −15.1% | −29.2% | +12.3% | +15.1% | −1.0% |
| 1 year | −17.7% | −35.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +12.2%+3.9%/yr | −58.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJan 12, 2023 | +15.1%+3.8%/yr | −71.3% | — | — | — |
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: KLIP vs SPY
From Jan 12, 2023: KLIP grew to $11,508, SPY to $20,072.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
KLIP returns by calendar year
2 of 2 full years positive. Best 2025 (+18.0%), worst 2024 (+3.8%). 2026 is year to date.
KLIP annual returns table
| Year | KLIP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −15.1% | −21.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.0% | −18.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +3.8% | −9.3% | +24.9% | +25.6% | +1.3% |
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.
KLIP largest drawdowns
Now 20.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 29, 2026 | −21.5% | Jun 25, 2026 | not yet | 5 months | 9 months so far |
| Mar 17, 2025 | −18.6% | Apr 8, 2025 | Jun 16, 2025 | 22 days | 3 months |
| Jan 27, 2023 | −10.4% | Mar 15, 2023 | Jul 13, 2023 | 47 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
KLIP risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +4.4% | +4.5% |
| Volatility (annualized) | 14.6% | 14.7% |
| Sharpe ratio | 0.07 | 0.07 |
| Sortino ratio | 0.09 | 0.10 |
| Best month | +8.6% | +8.6% |
| Worst month | −8.6% | −8.6% |
| Best 12 months | +23.9% | +25.4% |
| Worst 12 months | −15.5% | −15.5% |
| Positive months | 58% | 57% |
| Beta vs S&P 500 | 0.35 | — |
| Correlation with S&P 500 | 0.30 | — |
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.
KLIP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 34 | −18.0% | +10.3% | +25.4% | 82% |
| 3-year (a year) | 10 | +3.7% | +7.3% | +12.3% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
KLIP performance overview
KraneShares KWEB Covered Call Strategy ETF (KLIP) returned −17.7% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +3.8% a year, turning $10,000 into about $11,508. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −21.5%, from Jan 29, 2026 to Jun 25, 2026; the fund has not yet regained that high. Volatility has been 14.7% a year.
Related: KLIP chart, KLIP dividends. See the KLIP overview for the latest quote and fund facts.
KLIP performance FAQ
What is the KLIP return over the past year?
KLIP returned −17.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 35.4%.
How much would $10,000 invested in KLIP be worth?
$10,000 invested in KLIP at its first recorded close on January 12, 2023 would be worth about $11,508 on October 23, 2026 with distributions reinvested.
What was the worst year for KLIP?
The worst calendar year was 2024, with a total return of +3.8%. The best was 2025 at +18.0%.
What is the biggest drawdown of KLIP?
The largest peak-to-trough decline was −21.5% between January 29, 2026 and June 25, 2026. It has not yet recovered to that high; it is 20.0% below its peak.
How volatile is KLIP?
Over the past 3 years KLIP had an annualized volatility of 14.6% and a Sharpe ratio of 0.07 (excess return over 1–3 month T-bills per unit of risk).