KCNY

KraneShares E Fund China Commercial Paper ETF

Download KCNY Presentation

Download Fact Sheet

Investment Strategy:

The KraneShares E Fund China Commercial Paper ETF (NYSE: KCNY) seeks to track the CSI Diversified High Grade Commercial Paper Index. The Fund seeks to invest at least 80% of its total assets in a diversified basket of investment-grade1 commercial paper denominated in on-shore renminbi issued by sovereign, quasi-sovereign and corporate issuers in the People’s Republic of China and traded in the inter-bank bond market. Commercial paper in the Fund is investment-grade and has a remaining term to final maturity of no more than one year and no less than one month.

KCNY features:

  • Only invests in money market securities (i.e. commercial paper) and attempts to preserve principal investment while providing attractive monthly distributions
  • The average maturity for the fund is less than six months
  • Only invests into commercial paper that has received an investment grade credit rating

China commercial paper may be appropriate for investors who have a(n)…

  • Allocation to investment products that only invest in money market securities
  • Investment goal with a short time horizon
  • Daily liquidity requirement 

1.) For purposes of the Underlying Index, investment grade commercial paper is commercial paper that is issued by an issuer whose long-term bonds are rated AAA or equivalent by one or more Chinese credit rating agencies; or commercial paper that is issued by an issuer whose long-term bonds are rated AA+ or equivalent by one or more Chinese credit rating agencies and commercial paper is rated A-1 or equivalent by one or more Chinese credit rating agencies

Fund Details

Data as of 05/07/2021
TickerKCNY
Primary ExchangeNYSE
CUSIP500767702
ISINUS5007677025
Net Assets$12,346,335
Total Annual Fund Operating Expense (Gross)0.70%
Total Annual Fund Operating Expense (Net)0.58%*
Inception Date12/02/2014
Distribution FrequencyMonthly

Daily Performance

Data as of 05/07/2021
Premium Discount Chart
NAV
Net Asset Value$35.28 
Daily Change0.66%
Price
Market Price$0.00 
Daily Change0.00%
30 Day Median Bid/Ask Spread
Value0%

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

Distributions
Cumulative %
Data as of: 04/30/2021
Fund NAVClosing PriceIndex
1 Month1.30%1.36%1.52%
3 Month-0.14%0.03%0.22%
6 Month4.27%4.73%4.84%
Since Inception13.90%13.84%19.33%
Avg Annualized %
Data as of month end: 04/30/2021
Fund NAVClosing PriceIndex
1 Year10.74% 15.05%11.75%
3 Year1.95%1.80%2.40%
5 Year2.91%2.87%3.47%
Since Inception2.05% 2.04%2.79%
Avg Annualized %
Data as of quarter end: 03/31/2021
Fund NAVClosing PriceIndex
1 Year9.91%10.56%10.72%
3 Year1.38%1.46%1.78%
5 Year2.59%2.59%3.12%
Since Inception1.87% 1.85%2.59%
Growth of $10,000
Data as of 05/07/2021

*Fee waivers are contractual and in effect until August 2021

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.

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.

KCNY Key Metrics

Data as of 04/30/2021
Credit quality of underlying securities*Investment Grade
Average Weighted Maturity0.00 yrs
Current Yield2.42%
30-day SEC Yield0.00%
Unsubsidized 30-day SEC Yield 0.00%

*For purposes of the Underlying Index, investment grade commercial paper is commercial paper that is issued by an issuer whose long-term bonds are rated AAA or equivalent by one or more Chinese credit rating agencies; or commercial paper that is issued by an issuer whose long-term bonds are rated AA+ or equivalent by one or more Chinese credit rating agencies and commercial paper is rated A-1 or equivalent by one or more Chinese credit rating agencies

Top 10 Holdings

Data as of 05/07/2021
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerIdentifierShares HeldMarket Value($)
1CHINESE YUAN RENMINBI100.12%79,446,78612,361,507
2Cash-0.12%-15,172-15,172

Holdings are subject to change.