IHD vs KWEB: Correlation
Voya Emerging Markets High Income Dividend Equity Fund (IHD) and KraneShares CSI China Internet ETF (KWEB) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IHD and KWEB?
Over the past 3 years, IHD and KWEB moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.53). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 298.6 %².
Out of 13 assets tracked against IHD, KWEB lands near the bottom at #9. The last year tells two different stories: IHD led by 68.3 percentage points, +42.2% for IHD against -26.1% for KWEB. One caveat on sizing: KWEB is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IHD vs KWEB: side by side
| IHD (Voya Emerging Markets High Income Dividend Equity Fund) | KWEB (KraneShares CSI China Internet ETF) | |
|---|---|---|
| 1-year return | +42.2% | -26.1% |
| 5-year return | +78.4% | -36.2% |
| Volatility (ann.) | 16.6% | 33.9% |
| Beta vs S&P 500 | 0.65 | 0.90 |
| Max drawdown (3Y) | -14.3% | -41.6% |
| Market cap | – | – |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | IHD | KWEB |
|---|---|---|
| 2022 | -17.2% | -17.2% |
| 2023 | +13.9% | -9.1% |
| 2024 | +6.7% | +12.0% |
| 2025 | +40.3% | +23.5% |
| 2026 | +29.1% | -23.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IHD and KWEB good diversifiers for each other?
Only partially. A correlation of 0.53 means IHD and KWEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IHD and KWEB?
The IHD/KWEB correlation stands at 0.53 on a 3-year window (1 year: 0.35, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is KWEB a good diversifier for IHD?
Only partially. A correlation of 0.53 means IHD and KWEB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ihd-vs-kweb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ihd-vs-kweb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IHD correlations · KWEB correlations
