ETF Comparison

KWEB vs SPY: Which Is the Better Pick in 2026?

A head-to-head comparison of KraneShares CSI China Internet ETF and SPDR S&P 500 ETF Trust covering yield, cost, risk, and income potential.

Data updated September 4, 2026

Best for

KWEBInvestors who want higher current income (8.05% vs 0.99% for SPY).
SPYInvestors who want simple, diversified core exposure in one low-cost fund.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

KWEB has lagged SPY over the trailing twelve months, posting a -27.76% total return against 20.97%. The lead holds up over 10 years too: SPY has compounded at 15.24% a year, against -2.17% for KWEB. SPY has been the steadier holding, though — annualized volatility of 15.3% against 33.8% for KWEB. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Symbol	YTD	1Y	3Y	5Y	10Y	Since Aug 2013	Volatility	Sharpe	Sortino	Max drawdown
KWEB	-26.89%	-27.76%	0.20%	-9.95%	-2.17%	1.87%	33.8%	-0.13	-0.18	-41.6%
SPY	13.34%	20.97%	21.20%	12.70%	15.24%	14.11%	15.3%	0.97	1.41	-18.8%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Aug 2013” measures every fund from August 1, 2013 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	KWEB	SPY
Full name	KraneShares CSI China Internet ETF	SPDR S&P 500 ETF Trust
Issuer	KraneShares	State Street
Underlying index	CSI Overseas China Internet Index	S&P 500 Index
Last Close	$26.05 as of September 4, 2026	$770.19 as of September 4, 2026
Distribution yield	8.05%	0.99%
Distribution Safety Score™	96	100
Safety-Adjusted Yield	7.73%	0.99%
Expense ratio	0.69%	0.09%
AUM	$5.04B	$805B
Distribution frequency	Annual	Quarterly
Objective	Seeks to provide investment results that correspond to the price and yield performance of the CSI Overseas China Internet Index.	Track the S&P 500 Index before expenses.
Asset class	Equity	Equity
Inception date	07/31/2013	01/22/1993
Beta	0.78	1.0
Last dividend	$2.096	$1.9035
Ex-dividend date	12/22/2025	06/18/2026

Bottom lineChoose KWEB if you want higher current income (8.05% vs 0.99% for SPY). Choose SPY if you want simple, diversified core exposure in one low-cost fund.

Model this comparison:

Compare in my portfolio Forecast income Save to watchlist

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

KraneShares

ETFs36

Total AUM$8.80B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

KraneShares is known for pioneering thematic and alternative ETF strategies that capture emerging trends and specialized market segments. The issuer's fund lineup spans income-focused strategies, including covered call and high-yield approaches, alongside thematic funds targeting areas like artificial intelligence, cryptocurrency, cannabis, and other innovative sectors. KraneShares distinguishes itself through a diversified portfolio of specialized ETFs designed for investors seeking exposure beyond traditional asset classes, with a particular emphasis on capturing opportunities in evolving industries and alternative income generation strategies.

See our curated list of related YouTube videos on KWEB.

See all KraneShares ETFs

State Street

ETFs179

Total AUM$2124B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPY.

See all State Street ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

KWEB (KraneShares CSI China Internet ETF) and SPY (SPDR S&P 500 ETF Trust) are both dividend ETFs, but they take different approaches.

KWEB offers the higher yield at 8.05% vs 0.99% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPY is cheaper with an expense ratio of 0.09% compared to 0.69%.

They have different reference exposures: KWEB is linked to CSI Overseas China Internet Index while SPY is linked to S&P 500 Index, which means their performance drivers differ.

SPY is the larger fund by assets ($805B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose KWEB

KraneShares CSI China Internet ETF

Want higher current income — KWEB yields 8.05% vs 0.99% for SPY.
Want broad equity exposure.
Prefer lower volatility — a beta of 0.8 vs 1.0 for SPY.

Choose SPY

SPDR S&P 500 ETF Trust

Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.09% expense ratio vs 0.69% for KWEB.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Still deciding? Track KWEB & SPY for free

Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.

Add to my watchlist See what a free account includes

Deep dive

Yield & income

On a $10,000 investment, KWEB would generate roughly $67.08/month, while SPY would produce $8.25/month, at current distribution rates.

KWEB yield8.05%

SPY yield0.99%

Monthly diff on $10K$58.83

Cost & efficiency

Over 10 years on $10,000, KWEB would cost approximately $690 in fees vs $90 for SPY (simplified, not compounded). The $600.00 difference may be offset by yield or performance.

KWEB ER0.69%

SPY ER0.09%

Strategy & risk

KWEB tracks CSI Overseas China Internet Index with an international approach, while SPY tracks S&P 500 Index with a large cap approach. Beta is 0.78 for KWEB and 1.0 for SPY, making KWEB the less volatile of the two by this measure.

KWEB beta0.78

SPY beta1.0

Fund details

KWEB is managed by KraneShares (launched 07/31/2013) with $5.04B in assets. SPY is managed by State Street (launched 01/22/1993) with $805B in assets.

KWEB AUM$5.04B

SPY AUM$805B

Ready to act?

Open in Comparator Model in portfolio See pricing

Frequently asked questions

What is the current distribution yield for KWEB and SPY?

KWEB currently distributes 8.05% and SPY 0.99%, based on fund data updated September 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is KWEB or SPY better for dividend income?

It depends on your goals. KWEB currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between KWEB and SPY?

KWEB (KraneShares CSI China Internet ETF) tracks CSI Overseas China Internet Index with an international approach, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by KraneShares and State Street respectively.

Can I hold both KWEB and SPY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is KWEB or SPY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPY scores 100, KWEB scores 96, so SPY's payout currently looks the more resilient of the two. KWEB has also shown lower price volatility (beta 0.78 vs 1.00 for SPY). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, KWEB or SPY?

KWEB has an expense ratio of 0.69% while SPY charges 0.09%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in KWEB vs SPY generate?

At current rates, $10,000 in KWEB would generate roughly $67.08 per month ($805.00 annually). The same in SPY would produce about $8.25 per month ($99.00 annually).

Which has performed better historically, KWEB or SPY?

More comparisons to explore

People also compare KWEB with

People also compare SPY with

Popular comparisons

KWEB vs SPY — at a glance

Generated August 29, 2026.

stocks. The key distinction is geography and sector—KWEB is a concentrated play on emerging-market tech, while SPY is a broad U.S. equity market tracker.

How they differ

KWEB's strategy centers on a single country's internet sector, whereas SPY provides diversified exposure across all large-cap U.S. industries. Finally, KWEB's beta of 0.78 suggests lower volatility than the broad market (SPY's beta of 1.0), though this reflects China's tech sector's specific risk profile rather than lower overall risk.

Who each is best for

KWEB: Fits investors with a higher risk tolerance who believe in long-term growth of Chinese internet companies and can weather sharp drawdowns tied to Chinese regulatory or geopolitical events. The annual distribution makes it more tax-efficient for passive income seekers than a U.S. equity alternative.

SPY: Designed for investors seeking low-cost, diversified exposure to large-cap U.S. equities, whether building a core portfolio or maintaining a stable equity allocation. The minimal expense ratio and massive liquidity appeal to buy-and-hold investors and those rebalancing regularly.

Key risks to know

Geopolitical and regulatory risk: KWEB's holdings are subject to Chinese government policy shifts, capital controls, and potential U.S.-China tensions that can trigger rapid share-price declines and distribution cuts. SPY faces no comparable country-specific regulatory risk.

Sector concentration: KWEB's exposure is limited to internet companies, leaving it vulnerable to a downturn in that segment. SPY's 500-holding basket spans consumer staples, energy, utilities, financials, and other defensive sectors, insulating it from single-sector shocks.

NAV erosion at elevated yields: KWEB's 8.05% distribution rate significantly exceeds the typical earnings yield of emerging-market tech stocks, suggesting the fund may rely on return-of-capital or capital appreciation to sustain payouts. Prolonged market weakness could erode net asset value.

Liquidity mismatch: Chinese internet stocks face periodic trading halts and liquidity constraints on mainland exchanges. SPY holds highly liquid U.S. equities with minimal settlement friction.

Currency exposure: KWEB's underlying companies may generate revenues and profits in Chinese yuan, introducing foreign-exchange headwinds for dollar-based investors during periods of yuan weakness.

Bottom line

If you want broad, low-cost U.S. equity exposure with minimal distributions and near-market returns, SPY is the obvious anchor holding. If you're comfortable with higher volatility and concentrated country and sector risk in exchange for meaningful yield and emerging-market growth potential, KWEB offers a different risk-return trade. Past performance doesn't predict future results, and the two serve different portfolio roles—they're not interchangeable alternatives.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener