KCCA vs OPER

Comparison between KRANESHARES CALIFORNIA CARBON ALLOWANCE STRATEGY ETF (KCCA, ETF) and CLEARSHARES ULTRA-SHORT MATURITY ETF (OPER, ETF).

5-Year PerformanceOPER has outperformed KCCA, delivering a return of +3.7% compared to -2.9%

KCCA vs OPER - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	KCCA(ETF)	OPER(ETF)
Net Assets	$118M	$118M
Expense Ratio	0.91%	0.20%
Max Drawdown	54.18%	3.00%
Sharpe Ratio	0.78	1.06
5Y Beta	-0.11	0.00
5Y Dividends CAGR	N/A	59.13%

Net Assets

KCCA

$118M

OPER

$118M

Expense Ratio

KCCA

0.91%

Winner

OPER

0.20%

Max Drawdown

KCCA

54.18%

Winner

OPER

3.00%

Sharpe Ratio

KCCA

0.78

Winner

OPER

1.06

5Y Beta

Winner

KCCA

-0.11

OPER

0.00

5Y Dividends CAGR

KCCA

N/A

OPER

59.13%

KCCA vs OPER - Historical Returns

Returns include dividend reinvestment.

Period	KCCA	OPER
1 month	+8.05%	+0.28%
3 months	+11.54%	+0.90%
6 months	+0.91%	+1.82%
1 year	+15.86%	+4.00%
5 years(CAGR)	-2.85%	+3.67%
Max(CAGR)	-2.85%	+2.79%

Winner

KCCA

+8.05%

OPER

+0.28%

Winner

KCCA

+11.54%

OPER

+0.90%

KCCA

+0.91%

Winner

OPER

+1.82%

Winner

KCCA

+15.86%

OPER

+4.00%

5Y(CAGR)

KCCA

-2.85%

Winner

OPER

+3.67%

Max(CAGR)

KCCA

-2.85%

Winner

OPER

+2.79%

KCCA vs OPER - Annual Returns (2018 - 2026)

Returns include dividend reinvestment.

Year	KCCA	OPER
2026	-3.82%	+1.62%
2025	-11.72%	+4.36%
2024	-15.68%	+5.33%
2023	+36.55%	+5.06%
2022	-19.70%	+1.75%
2021	+8.91%	+0.37%
2020	N/A	+0.64%
2019	N/A	+2.15%
2018	N/A	+0.90%

KCCA vs OPER Drawdown Comparison

The maximum drawdown for KCCA was -41.11%, occurring on Apr 14, 2025. This drawdown has not yet recovered.

The maximum drawdown for OPER was -2.33%, occurring on Nov 19, 2018. Recovery took 280 trading sessions.

The current KCCA drawdown is -30.57%. The current OPER drawdown is -0.00%.

Rank	KCCA	OPER
#1	-41.11% Feb 5, 2024 - Apr 14, 2025	-2.33% Nov 15, 2018 - Dec 30, 2019
#2	-34.85% Nov 15, 2021 - Jan 5, 2024	-0.13% Feb 24, 2022 - May 12, 2022
#3	-7.15% Oct 5, 2021 - Oct 22, 2021	-0.11% Mar 28, 2024 - Apr 2, 2024
#4	-2.08% Oct 25, 2021 - Oct 29, 2021	-0.11% Mar 17, 2020 - May 26, 2020
#5	-1.69% Jan 19, 2024 - Feb 1, 2024	-0.09% Mar 31, 2025 - Apr 8, 2025
#6	-1.40% Nov 1, 2021 - Nov 9, 2021	-0.07% Apr 29, 2026 - May 11, 2026
#7	-1.32% Jan 8, 2024 - Jan 17, 2024	-0.07% Mar 13, 2023 - Mar 20, 2023
#8	-0.16% Jan 17, 2024 - Jan 19, 2024	-0.05% Mar 2, 2021 - Mar 17, 2021
#9	N/A	-0.05% Mar 25, 2024 - Mar 27, 2024
#10	N/A	-0.05% Mar 30, 2023 - Apr 3, 2023
#11	N/A	-0.04% Nov 23, 2022 - Nov 28, 2022
#12	N/A	-0.04% May 12, 2026 - May 15, 2026
#13	N/A	-0.04% Jan 27, 2022 - Feb 24, 2022
#14	N/A	-0.03% Oct 5, 2023 - Oct 9, 2023
#15	N/A	-0.03% Dec 12, 2023 - Dec 15, 2023

Correlation

Correlation between KCCA and OPER is -0.41 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.41

-101