IAE vs KWEB: Correlation
Voya Asia Pacific High Dividend Equity Income Fund ING Asia (IAE) and KraneShares CSI China Internet ETF (KWEB) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAE and KWEB?
Across a 3-year window, the weekly returns of IAE and KWEB correlate at 0.55, moderate. The link has loosened recently: the 1-year correlation (0.42) runs below the 3-year figure (0.55). Stretching to 5 years gives 0.56, with an annualized covariance of 305.6 %².
Among the 17 assets we track against IAE, KWEB ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IAE outperformed by 63.9 percentage points (+37.8% for IAE against -26.1% for KWEB). Risk is not evenly split, since KWEB carries 2.1 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IAE vs KWEB: side by side
| IAE (Voya Asia Pacific High Dividend Equity Income Fund ING Asia) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | +37.8% | -26.1% |
| 5-year return | +84.4% | -36.2% |
| Volatility (ann.) | 16.5% | 33.9% |
| Beta vs S&P 500 | 0.72 | 0.90 |
| Max drawdown (3Y) | -16.2% | -41.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | 3.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | IAE | KWEB |
|---|---|---|
| 2022 | -14.0% | -17.2% |
| 2023 | +9.1% | -9.1% |
| 2024 | +13.4% | +12.0% |
| 2025 | +34.6% | +23.5% |
| 2026 | +29.9% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAE and KWEB good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IAE and KWEB?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.42 over the last year and 0.56 over 5 years.
Is KWEB a good diversifier for IAE?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iae-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iae-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IAE correlations · KWEB correlations
