Data as of Oct 28, 2026.
KWEB vs XAR: Holdings Overlap & Returns
Over the year to Oct 28, 2026, KWEB returned −40.6% to XAR's −10.0%; 0% of their weight is in the same names.
askIQ about this page
askIQ about KWEB and XAR
Net assets: $4.3bn on Oct 28, 2026 for KraneShares CSI China Internet ETF, and $5.0bn on Oct 27, 2026 for State Street SPDR S&P Aerospace & Defense ETF.
0% of KWEB's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Oct 28, 2026.
40% of XAR's weight is in S&P 500 companies and 60% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
XAR costs 0.34 points a year less; their one-year returns differ by 30.6 points; XAR is 1.2 times larger.
Points (pts) are percentage points.
| Measure | KWEB | XAR |
|---|---|---|
| Return | ||
| Total return, 1 year | −40.6% | −10.0% |
| Drawdown | ||
| Below its all-time high | 73.4%, high on Feb 17, 2021 | 24.1%, high on Aug 14, 2026 |
| Against its benchmark | ||
| What it tracks | Internet and e-commerce | Defense |
| Against the S&P 500, 1 year | behind by 23.7 pts | |
| Its benchmark, total return, 1 year | +13.7% | |
| Against its benchmark, 1 year | behind by 23.7 pts | |
| Cost and size | ||
| Expense ratio | 0.69% | 0.35% |
| Net assets, as of Oct 27, 2026 | $4.3bn | $5.0bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Oct 27, 2026 and Oct 28, 2026. Method
Risk and return
Aug 9, 2013 to Oct 23, 2026 · 689 weekly returnsXAR returned more: +490.5% to +14.8%. XAR swung less: 24.0% to 35.3%. XAR fell less at its worst: −45.1% to −79.9%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | KWEB | XAR | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +14.8% | +490.5% | XAR | Price change plus distributions, reinvested. |
| Annualized | +1.0% | +14.3% | XAR | Total return as a yearly rate. |
| Price return | −10.9% | +417.9% | XAR | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 35.3% | 24.0% | XAR | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 23.5% | 16.2% | XAR | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −79.9% | −45.1% | XAR | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.15 | 0.60 | XAR | Return above Treasury bills per unit of volatility. |
| Sortino | 0.22 | 0.89 | XAR | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.01 | 0.32 | XAR | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 689 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, KWEB and XAR hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026 and Oct 28, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | KWEB | XAR | KWEB | XAR |
| 3 months | −17.3% | −12.8% | not measured | −18.9 pts vs VOO |
| 6 months | −17.9% | −9.9% | not measured | −19.0 pts vs VOO |
| 1 year | −40.6% | −10.0% | not measured | −23.7 pts vs VOO |
| 3 years | −3.2% | +103.5% | not measured | +8.0 pts vs VOO |
| Since launchNot the same days: KWEB Aug 2013 · XAR Sep 2011 | +12.7% | +945.4% | not measured | +171.9 pts vs VOO |
Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
KWEB and XAR are built for the same job. How do they differ in cost, holdings and results?
- Theme. KWEB covers Internet and e-commerce and XAR covers Defense.
- Concentration. The top ten holdings are 61.5% of KWEB and 32.2% of XAR, a gap of 29.3 points.
- What each follows. KWEB follows Internet and e-commerce and XAR follows Defense.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
KWEB
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 45 positions, as published by its issuer for Oct 28, 2026. Over the year to Oct 28, 2026 the fund returned −40.6% with distributions reinvested. It sits 73.4% below its all-time high of Feb 17, 2021.
XAR
By weight, 40% of XAR's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 98%. The top ten holdings are 32% of the fund across 50 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −10.0% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 23.7 pts. It sits 24.1% below its all-time high of Aug 14, 2026.
Questions people ask
- Do KWEB and XAR hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, KWEB against XAR, data as of Oct 28, 2026. https://etfiq.com/compare/themes/kweb-vs-xar
ETFIQ. (Oct 28, 2026). KWEB against XAR. Retrieved from https://etfiq.com/compare/themes/kweb-vs-xar
[KWEB against XAR (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/kweb-vs-xar)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.