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

Overview

Investment Strategy:

KCAI tracks the Quant Insight (Qi) China Alpha Index, which seeks to outperform the CSI 300 Index by applying a systematic machine learning approach. KCAI’s index was developed by its sub-advisor Qi to generate excess returns in China A-Shares through an alpha optimization filtering process combined with proprietary AI technology.

KCAI Features:

  • Long Only: stock selection from the CSI 300 Index universe.
  • Diversified: No individual stock can make up more than 5% of the ETF.
  • Dynamic: Rebalanced monthly using proprietary AI investment decision making technology.

China A-Shares Highlights:

  • China A-Shares are vastly underrepresented in global indexes. While the United States has a weight of 64.70% in the MSCI All Country World Index, China only has a weight of 2.57%.1
  • China A shares have exhibited an unusually low correlation to global markets of less than 0.4 over the past ten years,2 demonstrating the potential diversification* benefits of adding an allocation to China A shares to a global portfolio.
  • The inefficiency of the China A-Shares market makes it a potentially important source of alpha.

1.) Data from MSCI as of 12/31/2023.
2.) Data from MSCI and Bloomberg as of 6/30/2024. Correlation is based on weekly observations of the MSCI China A Index and the MSCI All Country World Index (ACWI).
*Diversification does not ensure a profit or guarantee against a loss.

Fund Details

Data as of 07/31/2026
Ticker KCAI
Primary Exchange NYSE
CUSIP 500767397
ISIN US5007673974
Net Assets $3,288,958
Shares Outstanding 100,002
Total Annual Fund Operating Expense 0.79%
Inception Date 08/27/2024
Distribution Frequency Annual
Underlying Index Qi China Alpha Index

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Daily Performance

Data as of 07/31/2026
Daily Net Asset Value (NAV) and Market Price
NAV $32.89
NAV Daily Change -0.06%
Market Price $32.73
Market Price Daily Change -0.52%
30 Day Median Bid/Ask Spread
0.41%
30 Day Median Bid/Ask Spread as of 07/30/2026.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: 07/31/2026

Fund NAV Closing Price Underlying Index
1 Month 3.62% 3.31% 3.83%
3 Month 1.11% 0.58% 1.74%
6 Month 8.05% 7.74% 9.16%
YTD 8.05% 7.38% 9.23%
Since Inception 82.66% 81.68% 88.53%

Avg Annualized %

Data as of month end: 07/31/2026

Fund NAV Closing Price Underlying Index
1 Year 39.29% 38.82% 42.04%
Since Inception 36.72% 36.34% 38.99%

Avg Annualized %

Data as of quarter end: 06/30/2026

Fund NAV Closing Price Underlying Index
1 Year 42.84% 42.37% 45.63%
Since Inception 36.06% 35.88% 38.27%

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.

Distribution History

2025 Distributions
Ex-Date Record Date Payable Date Amount
12/22/2025 12/22/2025 12/23/2025 1.085700
12/22/2025 12/23/2025 12/23/2025 9.630964
12/30/2025 12/30/2025 12/31/2025 0.080552

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.

2024 Distributions
Ex-Date Record Date Payable Date Amount
12/17/2024 12/17/2024 12/18/2024 0.194652
12/17/2024 12/18/2024 12/18/2024 0.398069

Topics:

Growth of $10,000

Data as of 07/31/2026

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 07/31/2026 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 FUYAO GLASS INDUSTRY GROUP-A 3.44% 600660 CNE000000230 12,801 113,161
2 COSCO SHIPPING HOLDINGS CO-A 3.41% 601919 CNE100000601 48,500 112,248
3 CRRC CORP LTD-A 3.33% 601766 CNE100000CP9 120,100 109,547
4 AGRICULTURAL BANK OF CHINA-A 3.33% 601288 CNE100000RJ0 107,100 109,425
5 IND & COMM BK OF CHINA-A 3.27% 601398 CNE000001P37 90,800 107,426
6 CHINA CONSTRUCTION BANK-A 3.26% 601939 CNE100000742 66,700 107,160
7 BANK OF NANJING CO LTD -A 3.24% 601009 CNE100000627 61,900 106,598
8 BEIJING-SHANGHAI HIGH SPE-A 3.23% 601816 CNE100003RV9 139,700 106,119
9 HAIER SMART HOME CO LTD-A 3.18% 600690 CNE000000CG9 30,500 104,732
10 BANK OF COMMUNICATIONS CO-A 3.18% 601328 CNE1000000S2 98,400 104,616

Holdings are subject to change.

Fund Documents

©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.

A-Shares are issued by companies in mainland China and traded on local exchanges. They are available to domestic and certain foreign investors, including QFIs and those participating in Stock Connect Programs like Shanghai-Hong Kong and Shenzhen-Hong Kong. Foreign investments in A-Shares face various regulations and restrictions, including limits on asset repatriation. A-Shares may experience frequent trading halts and illiquidity, which can lead to volatility in the Fund’s share price and increased trading halt risks. The Chinese economy is an emerging market, vulnerable to domestic and regional economic and political changes, often showing more volatility than developed markets. Companies face risks from potential government interventions, and the export-driven economy is sensitive to downturns in key trading partners, impacting the Fund. U.S.-China tensions raise concerns over tariffs and trade restrictions, which could harm China’s exports and the Fund. China’s regulatory standards are less stringent than in the U.S., resulting in limited information about issuers. Tax laws are unclear and subject to change, potentially impacting the Fund and leading to unexpected liabilities for foreign investors. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values.

Machine learning is a part of artificial intelligence that creates algorithms to improve from data without explicit programming. The Underlying Index depends on a machine learning model using various inputs, including historical data. If the model fails, the Index and Fund may lose value. Biases or errors in the model or data can lead to poor selections and may not be quickly corrected, harming the Fund. Additionally, machine learning models may overfit historical data and struggle with unexpected market conditions, negatively impacting the Index and the Fund. In addition to the normal risks associated with investing, investments in mid-size companies typically exhibit higher volatility. 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.

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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