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Overview Performance Distributions Growth of $10,000 Holdings Fund Documents FAQ

Overview

Why KPHO?

  • Market Leaders: Exposure to Vietnamese companies selected based on fundamental and proprietary growth criteria.
  • Middle Class Growth: Holds companies aligned with domestic consumption trends among Vietnam’s growing middle class.
  • Access Foreign Restricted Stocks: Certain stocks in Vietnam have reached their Foreign Ownership Limit (FOL) due to strong international investor demand. KPHO is the only US-listed ETF to provide access to Foreign Ownership Limit constrained stocks through ownership of the Dragon Capital Diamond ETF.*
  • Get Ahead of Index Inclusion: Vietnam is beginning to be reclassified as an emerging market by global index providers.
  • Sub-advised by Dragon Capital Management Ltd., the largest fund manager in Vietnam,1with over 30 years of experience in the market, and utilizing their locally-listed ETF to access FOL stocks.

Capturing Vietnam’s Potential:

  • Since reform and opening in 1986, a process known locally as “Doi Moi” or “Renewal”, Vietnam has opened its capital markets to foreign investors, expanded exports substantially, and grown its consumer economy.
  • Vietnam is forecasted to be the fastest-growing economy in the Asia-Pacific region in 20262.
  • As a non-aligned nation situated near a key crossroads of ocean shipping lanes with an expansive coastline and multiple ports, Vietnam has benefited from the migration of manufacturing centers for global businesses wary of geopolitical risks to their supply chains.
  • Vietnam has been upgraded from Frontier Market to Secondary Emerging Market by global index provider FTSE Russell, with the reclassification set to go into effect in September 2026.2 It is also on the radar for a similar upgrade from MSCI, potentially leading to significant foreign inflows.

* Data from Bloomberg as of 10/2/2025.
1.) Source: Dragon Capital.
2.) World Bank estimate as of 12/31/2024.
3.) FTSE Russell. “FTSE Russell announces results of September 2025 semi-annual country classification review for equities and fixed income,” LSEG. October 7, 2025.

Fund Details

Data as of 04/09/2026
Ticker KPHO
Primary Exchange NYSE
CUSIP 500767215
ISIN US500767215
Net Assets $13,302,871
Shares Outstanding 550,002
Total Annual Fund Operating Expense 1.03%
Inception Date 12/02/2025
Distribution Frequency Annual
Underlying Index Dragon Capital Merqube Vietnam Growth Index

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Premium Discount Chart

Daily Performance

Data as of 04/09/2026
Daily Net Asset Value (NAV) and Market Price
NAV $24.19
NAV Daily Change -0.78%
Market Price $24.36
Market Price Daily Change 0.08%
30 Day Median Bid/Ask Spread
0.26%
30 Day Median Bid/Ask Spread as of 04/08/2026.The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

Performance History

Cumulative %

Data as of: 03/31/2026
Fund NAV Closing Price Underlying Index
1 Month -9.97% -9.25% -9.79%
3 Month -3.74% -4.47% -3.70%
6 Month – – –
YTD -3.74% -4.47% -3.70%
Since Inception -5.25% -4.97% -4.81%

Cumulative %

Data as of quarter end: 03/31/2026
Fund NAV Closing Price Underlying Index
Since Inception -5.25% -4.97% -4.81%

Dragon Capital Merqube Vietnam Growth Index is designed to track a portfolio of Vietnam Large-Cap stocks listed on the Ho Chi Minh Stock Exchange (HOSE), selected by fundamental factors and filtered by liquidity and growth screens. The constituents' weights are based on the Adjusted Free Float Market Cap with specific constraints on weight limits. After the weighting criteria are applied, all securities classified as having a Foreign Ownership limitation are proxied in the index calculation by the largest market capitalization Diamond ETF.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Ex-Date Record Date Payable Date Amount

Future calendar dates are subject to change. There is no guarantee that dividends will be paid. Past distributions are not indicative of future trends. This material is provided for educational purposes only and does not constitute investment advice.

Distributions are issued to brokers on the payable date, and are subject to broker payment schedules.

Distribution History

2025 Distributions
Ex-Date Record Date Payable Date Amount
12/30/2025 12/30/2025 12/31/2025 0.028249

Topics:

Growth of $10,000

Data as of 04/09/2026

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 04/09/2026 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 DCVFMVN DIAMOND ETF 23.13% FUEVFVND VN VN0FUEVFVND5 2,193,500 3,076,316
2 VIETNAM PROSPERITY JSC BANK 7.96% VPB VN000000VPB6 1,028,500 1,058,779
3 HDBANK 7.79% HDB VN000000HDB1 1,046,565 1,035,632
4 BANK FOR FOREIGN TRADE JSC 7.71% VCB VN000000VCB4 454,500 1,025,538
5 VIX SECURITIES JSC 5.40% VIX VN000000VIX5 1,049,800 717,812
6 HOA PHAT GROUP JSC 4.08% HPG VN000000HPG4 505,500 542,464
7 SAIGON - HANOI COMMERICIAL 4.07% SHB VN000000SHB9 920,200 541,808
8 GEMADEPT CORP 3.84% GMD VN000000GMD0 182,600 510,517
9 TIEN PHONG COMMERCIAL JOINT 3.76% TPB VN000000TPB0 809,900 499,938
10 BANK FOR INVESTMENT AND DEVE 3.56% BID VN000000BID9 306,700 473,011

Holdings are subject to change.

Fund Documents

FAQ

©2026 Krane Funds Advisors, LLC
280 Park Avenue, 32nd Floor, New York, NY 10017 [email protected]

Carefully consider the Funds’ investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ full and summary prospectus, which may be obtained by visiting www.kraneshares.com. Read the prospectus carefully before investing.

Risk Disclosures:

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate, which may cause the Fund to suffer losses. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the derivative.

Investing in Vietnamese companies involves significant risks that are greater than those found in developed markets and are typical of both emerging and frontier markets. These risks include political and economic instability, government intervention, and the potential for expropriation or nationalization of assets. The Vietnamese government may impose restrictions on foreign investment, capital repatriation, or ownership limits, which could affect your ability to access or withdraw your investment. Vietnam’s economy is highly dependent on trading relationships with countries such as the United States, China, and Japan, and a decline in demand from these trading partners could negatively impact Vietnamese companies and the Fund. As an emerging and frontier market, Vietnam’s financial markets are less developed, more volatile, and less liquid than those of developed countries, and are subject to higher inflation, currency fluctuations, and regulatory changes. There may also be restrictions or delays on moving money in and out of the country, and additional taxes or costs for foreign investors. The securities markets in Vietnam may experience trading suspensions, low trading volumes, or sudden price swings, and the government may exercise substantial influence over many aspects of the private sector. These and other risks may result in greater losses, delays, or volatility compared to investments in more developed markets.​

As an ETF, the Fund may trade at prices above or below its net asset value, especially during periods of market volatility or if there are few financial institutions creating and redeeming shares. The Fund’s use of cash for creations and redemptions can lead to higher taxes and transaction costs, which may reduce returns. Because the Fund invests in foreign markets—including indirect exposure through a locally traded Vietnamese ETF—its shares may trade at prices that differ from the value of the underlying securities, and there is no guarantee that an active trading market will always exist for the Fund’s shares.​

The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt. Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. KPHO is non-diversified.

ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

The KraneShares ETFs and KFA Funds ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Funds, or any sub-advisers for the Funds.

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