Data as of .
KWEB vs ONLN: which is really different?
KWEB and ONLN hold 7% of their weight in the same names, and ONLN returned more over the year.
ETFIQ Off-Index Score: KWEB scores higher
How much of it is not the index it is sold as an alternative to?
A percentile among the 379 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it · How it is computed
7% of the two portfolios are the same securities at the same weight.
What they hold in common
By the books each fund has filed, KWEB and ONLN hold 7% of their money in the same securities at the same weight.
| Holding | KWEB | ONLN |
|---|---|---|
| PDD HOLDINGS INC | 8.17% | 4.50% |
| Only in KWEB | Only in ONLN |
|---|---|
| TENCENT HOLDINGS LTD 9.96% | AMAZON.COM INC 24.79% |
| ALIBABA GROUP HOLDING LTD 8.70% | ALIBABA GROUP HOLDING-SP ADR 8.72% |
| MEITUAN-CLASS B 7.09% | EBAY INC 8.69% |
| LENOVO GROUP LTD 6.63% | CARVANA CO 4.64% |
| NETEASE INC 6.26% | MERCADOLIBRE INC 3.90% |
| KE HOLDINGS INC-CL A 4.23% | WILLIAMS-SONOMA INC 3.70% |
| JD.COM INC-CLASS A 3.87% | WAYFAIR INC- CLASS A 3.49% |
| TRIP.COM GROUP LTD 3.57% | COUPANG INC 3.43% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 18, 2026.
Performance, window by window
| Window | Total return | vs the S&P 500 | vs the Nasdaq-100 | |||
|---|---|---|---|---|---|---|
| KWEB | ONLN | KWEB | ONLN | KWEB | ONLN | |
| 3 months | −1.6% | +0.9% | −3.9 pts | −1.4 pts | +0.9 pts | +3.4 pts |
| 6 months | −12.0% | +8.7% | −30.1 pts | −9.3 pts | −36.3 pts | −15.5 pts |
| 1 year | −37.3% | −8.8% | −53.8 pts | −25.3 pts | −59.0 pts | −30.5 pts |
| 3 years | +0.7% | +78.7% | −77.7 pts | +0.3 pts | −97.5 pts | −19.4 pts |
| Since launch | +21.7% | +42.6% | −436.7 pts | −166.3 pts | −928.1 pts | −281.6 pts |
| KWEB KraneShares CSI China Internet ETF Holds 46 stocks in internet and e-commerce, 0% of its weight in S&P 500 companies | ONLN ProShares Online Retail ETF Holds 21 stocks in internet and e-commerce, 42% of its weight in S&P 500 companies | |
|---|---|---|
| Issuer | KraneShares | ProShares |
| Theme | Internet and e-commerce | Internet and e-commerce |
| In the S&P 500 | 0.0% | 41.8% |
| Active share vs the S&P 500 | 100.0% | 96.2% |
| In the Nasdaq-100 | 8.2% | 33.2% |
| Holdings | 46 | 21 |
| Top ten, share of the fund | 61.7% | 69.1% |
| Expense ratio | 0.69% | 0.58% |
| Fee for the differing part | 0.69% | 0.60% |
| Total return, 1 year | −37.3% | −8.8% |
| vs the S&P 500 | −53.8 pts | −25.3 pts |
| vs the Nasdaq-100 | −59.0 pts | −30.5 pts |
| Below its high | −71.2% | −38.9% |
| Net assets | $4.7bn | $59m |
KWEB in plain words
By weight, 0% of KWEB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 46 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −37.3% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 53.8 pts. It sits 71.2% below its all-time high of Feb 17, 2021.
ONLN in plain words
By weight, 42% of ONLN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 69% of the fund across 21 positions, as published by its issuer for Sep 18, 2026. Over the year to Sep 18, 2026 the fund returned −8.8% with distributions reinvested against +16.6% for the S&P 500, so a holder was behind by 25.3 pts. It sits 38.9% below its all-time high of Feb 12, 2021.
Questions people ask
- Do KWEB and ONLN hold the same stocks?
- By their latest filings, 7% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
- Which is more different from the S&P 500, KWEB or ONLN?
- KWEB has 0% of its weight in S&P 500 names and ONLN has 42%, so KWEB differs more from the index.
- Which is cheaper, KWEB or ONLN?
- KWEB charges 0.69% a year and ONLN charges 0.58%, so ONLN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, KWEB against ONLN, data as of Sep 18, 2026. https://etfiq.com/compare/themes/kweb-vs-onln Free to use with attribution; the underlying files are at Open data.