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Overview

Performance

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KFVG seeks to measure the performance of the CICC China 5G and Semiconductor Leaders Index. The Index is designed to track the performance of companies engaged in the 5G and semiconductor related businesses, including 5G equipment, semiconductors, electronic components and big data centers.

China 5G & Semiconductor Highlights:

  • Integration of 5G with other next generation technologies will further enhance efficiency, quality, and safety of products/ experiences across a range industries.
  • China is a world leader in 5G spending and adoption. By 2025, China is projected to have over 400 million 5G users, accounting for 40% of total global use1.
  • China is becoming more self-sufficient in semiconductor development largely due to government policies and funding specifically for the industry. As stated in “Made in China 2025” initiative, China aims to produce 70% of the semiconductors used domestically by 2025 and have complete import substitution by 20302.

KFVG Features:

  • Access to China’s 5G and semiconductor companies that offer a potential source of uncorrelated, long-term growth.
  • Exposure to Chinese technology companies listed in Mainland China, Hong Kong, and the United States.
  • Tracks an index developed by China International Capital Corporation (CICC) Research. CICC is a leading, publicly traded, Chinese financial services company with expertise in research, asset management, investment banking, private equity and wealth management. In 2019, the CICC Research Team ranked #1 in Institutional Investor’s All-China Research Category for the eighth year in a row.

1. UBS, “The China 5G Opportunity”, retrieved 9/30/2020.
2. US Chamber of Commerce, “Made in China 2025: Global Ambitions Built on Local Protections”, 2017.

Premium Discount Chart

Daily Performance

Data as of 02/03/2023
Daily Net Asset Value (NAV) and Market Price
NAV $17.19
NAV Daily Change -0.75%
Market Price $16.98
Market Price Daily Change -1.22%
30 Day Median Bid/Ask Spread
0.31%
Distributions

Performance History

Cumulative %
Data as of: 01/31/2023
Fund NAV Closing Price Index
1 Month 9.77% 10.63% 10.23%
3 Month 19.34% 20.10% 19.01%
6 Month -4.76% -4.11% -4.64%
Since Inception -31.88% -31.88% -29.50%
Avg Annualized %
Data as of month end: 01/31/2023
Fund NAV Closing Price Index
1 Year -26.63% -27.69% -26.10%
Since Inception -16.09% -16.09% -14.76%
Avg Annualized %
Data as of quarter end: 12/31/2022
Fund NAV Closing Price Index
1 Year -41.72% -41.97% -41.31%
Since Inception -20.29% -20.58% -19.14%

*Fee waivers are contractual and in effect until August 1, 2023

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.

Growth of $10,000

Data as of 02/03/2023

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 02/06/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 LUXSHARE PRECI-A 7.78% 002475 CNE100000TP3 238,605 1,118,609
2 XIAOMI CORP-CLASS B 7.46% 1810 KYG9830T1067 656,800 1,073,160
3 FOXCONN INDUST-A 6.44% 601138 CNE1000031P3 675,874 926,154
4 BOE TECHNOLOGY-A 5.65% 000725 CNE0000016L5 1,371,730 811,913
5 TCL ZHONGHUAN -A 5.32% 002129 CNE1000000B8 123,100 764,776
6 NAURA TECH GR -A 4.70% 002371 CNE100000ML7 18,118 675,896
7 WILL SEMICONDU-A 4.06% 603501 CNE100002XM8 43,006 583,437
8 ZTE CORP-H 4.05% 763 CNE1000004Y2 244,000 582,778
9 UNIGROUP GUOXI-A 3.72% 002049 CNE000001M14 28,900 535,239
10 SUNNY OPTICAL TECH 3.34% 2382 KYG8586D1097 36,100 480,803

Holdings are subject to change.