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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KBA is benchmarked to the MSCI China A 50 Connect Index, consisting of 50 large-cap Shanghai and Shenzhen listed stocks (A-shares) available through Stock Connect. A key feature of this Index is that it offers the first officially recognized Futures contracts for Stock Connect-eligible A-shares, representing a powerful risk management tool that makes its underlying stocks attractive to international investors. KBA focuses on the largest, most liquid stocks, which receive most foreign interest and inflows and may benefit from increased global investment in China’s onshore market over the long term.

MSCI China A 50 Connect Index Features:

  • Designed to meet the requirements of the growing number of investors in China’s mainland A-share markets.
  • In addition to offering high correlation to broad China A-share benchmarks1, the MSCI China A 50 Connect Index may offer greater liquidity and investability due to its balanced sector weighting methodology and focus on China’s largest, most liquid securities.
  • An expected reduction in tracking error and bid-ask spreads given that market makers can directly hedge exposure with Futures.

China A-Share Internationalization Highlights:

  • China A-Shares are vastly underrepresented in global indexes. While the United States has a weight of 58.67% in the MSCI All Country World Index, China only has a weight of 4.85%1
  • MSCI is realigning China’s overall weight in their Global Standard Indexes through an incremental inclusion process. Upon completion, China A-shares are predicted to account for about 20% of the MSCI Emerging Market (EM) Index1.
  • Greater accessibility and inclusion in global indexes has led to significant foreign inflows into the China A-share market over the past several years.

**Formerly the KraneShares Bosera MSCI China A Share ETF

1.) Data from MSCI as of 30/Sept/2021.

Fund Details

Data as of 09/28/2023
Ticker KBA
Primary Exchange NYSE
CUSIP 500767405
ISIN US5007674055
Net Assets $381,823,738
Total Annual Fund Operating Expense (Gross) 0.78%
Total Annual Fund Operating Expense (Net) 0.55%*
Inception Date 3/4/2014
Distribution Frequency Annual

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Daily Performance

Data as of 09/28/2023
Daily Net Asset Value (NAV) and Market Price
NAV $22.59
NAV Daily Change -0.40%
Market Price $22.61
Market Price Daily Change -0.04%
30 Day Median Bid/Ask Spread
0.04%
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: 08/31/2023
Fund NAV Closing Price Index
1 Month -6.84% -6.53% -6.78%
3 Month 1.30% 1.26% 1.57%
6 Month -11.61% -11.39% -11.30%
YTD -9.20% -8.47% -8.73%
Since Inception 51.95% 52.47% 65.99%
Avg Annualized %
Data as of month end: 08/31/2023
Fund NAV Closing Price Index
1 Year -14.61% -13.57% -13.64%
3 Year -8.18% -7.97% -7.51%
5 Year 3.70% 3.87% 4.45%
Since Inception 4.50% 4.54% 5.48%
Avg Annualized %
Data as of quarter end: 06/30/2023
Fund NAV Closing Price Index
1 Year -25.40% -26.00% -24.50%
3 Year -2.65% -2.39% -1.93%
5 Year 2.00% 2.18% 2.72%
Since Inception 4.48% 4.54% 5.46%

*Fee waivers are contractual and in effect until August 1, 2024

The Hybrid KBA Index consists of the MSCI China A Index from the inception of the Fund through October 23, 2014, the MSCI China A International Index from October 23, 2014 through December 26, 2017, the MSCI China A Inclusion Index from December 26, 2017 to May 29, 2019, the MSCI China A Index from May 29, 2019 to January 5, 2022, and the MSCI China A 50 Connect Index going forward.

Performance shown for periods before January 5, 2022, reflects that of the prior Fund. Future performance may be different than past performance due to changes, including investment objectives and principal investment strategies. Additionally, before January 5, 2022, the Fund previously sought to track the performance of a different Index before fees and expenses.

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

Distribution History

2022 Distributions
Ex-Date Record Date Payable Date Amount
12/14/2022 12/15/2022 12/16/2022 6.251418
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2021 12/30/2021 12/31/2021 3.936370
2020 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2020 12/30/2020 12/31/2020 0.297564
2019 Distributions
Ex-Date Record Date Payable Date Amount
12/27/2019 12/30/2019 12/31/2019 0.498718

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2018 Distributions
Ex-Date Record Date Payable Date Amount
12/26/2018 12/27/2018 12/28/2018 0.519894
12/27/2018 12/27/2018 12/28/2018 0.402905
2017 Distributions
Ex-Date Record Date Payable Date Amount
12/20/2017 12/19/2017 12/22/2017 0.181784
2016 Distributions
Ex-Date Record Date Payable Date Amount
12/30/2016 12/28/2016 12/31/2016 0.460371
2015 Distributions
Ex-Date Record Date Payable Date Amount
06/30/2015 06/26/2015 07/01/2015 0.050048
12/30/2015 12/28/2015 12/31/2015 0.414600
12/30/2015 12/30/2015 12/31/2015 9.510225
2014 Distributions
Ex-Date Record Date Payable Date Amount
12/30/2014 12/26/2014 12/31/2014 0.050048

Topics:

Growth of $10,000

Data as of 09/28/2023

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.

Top 10 Holdings

Data as of 09/29/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 KWEICHOW MOUTAI CO LTD-A 7.87% 600519 CNE0000018R8 121,989 30,114,033
2 CONTEMPORARY A-A 7.10% 300750 CNE100003662 975,115 27,173,274
3 WANHUA CHEMIC-A 5.90% 600309 CNE0000016J9 1,860,799 22,557,152
4 ZIJIN MINING-A 4.64% 601899 CNE100000B24 10,666,892 17,759,242
5 BYD CO LTD -A 3.92% 002594 CNE100001526 461,800 15,002,994
6 CHINA MERCHANTS BANK-A 3.56% 600036 CNE000001B33 3,005,567 13,601,008
7 CHINA YANGTZE-A 3.07% 600900 CNE000001G87 3,846,870 11,742,702
8 LUXSHARE PRECI-A 2.98% 002475 CNE100000TP3 2,783,650 11,393,260
9 LONGI GREEN EN-A 2.90% 601012 CNE100001FR6 2,958,803 11,078,634
10 FOXCONN INDUST-A 2.76% 601138 CNE1000031P3 3,907,700 10,566,063

Holdings are subject to change.

Fund Documents

©2023 Krane Funds Advisors, LLC
280 Park Avenue, 32nd Floor, New York, NY 10017

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.

The ability of the Fund to achieve its respective investment objectives is dependent, in part, on the continuous availability of A Shares and the ability to obtain, if necessary, additional A Shares quota. If the Fund is unable to obtain sufficient exposure to limited availability of A Share quota, the Fund could seek exposure to the component securities of the Underlying Index by investment in other types of securities. The Fund is subject to political, social or economic instability within China which may cause decline in value. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. The Fund may invest in Initial Public Offerings (IPOs). Securities issued in IPOs have no trading history, and information about the companies may be available for very limited periods. In addition, the prices of securities sold in IPOs may be highly volatile. In addition, as the Fund increases in size, the impact of IPOs on the Fund’s performance will generally decrease.

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. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.

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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