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KBA

KraneShares Bosera MSCI China A ETF

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Investment Strategy:

KBA tracks the MSCI China A International Index: a free-float adjusted market capitalization weighted index that is designed to track the equity market performance of large-cap and mid-cap Chinese securities listed on the Shanghai and Shenzhen Stock Exchanges. The Index is based on the concept of the integrated MSCI China equity universe with mainland Chinese securities included.

KBA provides:

  • Access to the Shanghai and Shenzhen Stock Exchanges - which are traditionally not available to U.S. investors - via the RQFII program.
  • KBA's holdings represent the mainland Chinese equities scheduled for inclusion into broad MSCI emerging markets indices
  • With $1.6 trillion benchmarked to the MSCI Emerging Markets Index1, full inclusion of mainland Chinese equities could see significant flows into the securities KBA owns today.
  • In June 2016, MSCI is expected to announce the inclusion timeline.
  • Co-managed by Bosera Asset Management; headquartered in Shenzhen, $73 billion in AUM, one of the largest Chinese asset managers by assets.2

1.) Data from MSCI as of 6/30/2015

2.) Data from Asset Management Association of China (AMAC) as of 6/30/2015

Daily Performance

Data as of 05/27/2016
Premium Discount Chart
NAV
Net Asset Value$27.87 
Daily Change 0.00%
Price
Closing Price $27.75 
Daily Change0.29%

Performance History

Data as of: 04/30/2016
Total Annual Fund Operating Expense (Gross): 1.02% Total Annual Fund Operating Expense (Net): 0.92%*
Distributions
Cumulative Annualized Annualized Calendar QTR
03/31/2016
1 Mo 3 Mo 6 Mo Since Inception
3/4/2014
1 Yr Since Inception
3/4/2014
1 Yr Since Inception
3/4/2014
Fund Nav -3.46% 7.01% -17.91% 25.63% -40.77% 11.16% -27.18% 13.55%
Closing Price -4.20% 5.61% -17.73% 24.45% -41.05% 10.68% -27.01% 13.45%
Index -2.90% 8.51% -16.31% 36.90% -38.66% 15.66% -24.88% 17.98%

*Effective March 21, 2016, KraneShares has contractually agreed to reduce its management fee from exceeding 0.68% of the Fund’s average daily net assets until July 31, 2017. In the absence of current fee waivers, performance would be reduced.

The Hybrid KBA Index (noted as "Index" above in the chart) consists of the MSCI China A Index from the inception of the Fund through October 23, 2014, and the MSCI China A International Index going forward.

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized Return is the average return gained or lost by an investment each year over a given time period.

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.

ETF shares are not redeemable with the issuing fund other than in large Creation Unit aggregations. Instead, investors must buy or sell ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling. The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). Shares are bought and sold at market price (closing price) not NAV. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined).

An active secondary market for the Fund’s shares may not exist. Although the Fund’s shares will be listed on an exchange, subject to notice of issuance, it is possible that an active trading market may not develop or be maintained. There is no guarantee that distributions will be paid.

Sector Breakdown

Data as of: 2016/5/27

Market Cap Breakdown

Data as of: 2016/5/27
Data provided by ETF Research Center

Valuation Metrics

Data as of 2016/5/27
 20152016
Price-to-earnings112.72 12.19
Price-to-cash flow2 10.68
Price-to-sales3 0.99 0.90
Price-to-book value4 1.40 1.27
Yield (%) 2.50% 2.50%
Data provided by ETF Research Center

Per Share Results

Data as of 2016/5/27   
Sales Per Share31.00
Earnings Per Share2.28
Dividends Per Share0.69
Book Value Per Share21.77
Sales Per Share Growth10.49%
EPS Growth54.30%
  1. Price-to-earnings: A valuation method used to compare a company's current share price to its per-share earnings
  2. Price-to-cash flow: The ratio of a stock’s price to its cash flow per share
  3. Price-to-sales: A valuation ratio that compares a company's stock price to its revenues.
  4. Price-to-book value: A valuation ratio that compares a company's stock price to its revenues
  5. Earnings Per Share - EPS: The portion of a company's profit allocated to each outstanding share of common stock. Earnings per share serves as an indicator of a company's profitability

Top 10 Holdings

Data as of 05/27/2016
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerShares HeldMarket Value($)
1
CHINA MERCHANTS BANK-A
1.99%30,90083,189
2
SHANGHAI PUDONG DEVEL BAN
1.86%28,70077,616
3
PING AN INSURANCE GROUP C
1.84%16,00077,077
4
KWEICHOW MOUTAI CO LTD-A
1.75%1,90073,119
5
CHINA VANKE CO LTD -A
1.68%20,90070,063
6
INDUSTRIAL BANK CO LTD -A
1.63%28,40068,276
7
CHINA MINSHENG BANKING-A
1.47%45,10061,259
8
AGRICULTURAL BANK OF CHIN
1.42%125,80059,451
9
XIAMEN C & D INC-A
1.41%24,50058,862
10
IND & COMM BK OF CHINA-A
1.36%86,60056,636

Holdings are subject to change.