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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KHYB is an active ETF managed by sub-advisor Nikko Asset Management Americas, Inc. (“Nikko”). KHYB is benchmarked to the JP Morgan Asia Credit Index (JACI) Non-Investment Grade Corporate Index. The fund provides exposure to USD-denominated high yield debt securities issued by companies in Asia.

Asia High Income Bond Market Features:

  • The Asia Bond Market has witnessed steady growth over the last decade.The JP Morgan Asia Credit Index grew from a market capitalization of $257 billion in 2010 to $937 billion in June of 2024, an increase of 264%.1
  • The Asia high yield bond market currently offers higher yields than other global high yield bond markets. As of June 2024, Asia high yield bonds had a yield of 11.0% compared to 7.6% for US high yield bonds.2
  • The default rate of Asia high-yield corporate bonds has been lower than that of high yield bonds in other emerging market regions in six of the past thirteen years, and was lower than the US high yield default rate in both 2019 and 2020.1

KHYB Features:

    • Sub-advised by Nikko. Nikko was established in 1959 and is one of Asia's largest asset managers with over $200 billion in assets under management. Nikko is a leader in Asia fixed income with 30+ years of experience in the market.3
    • KHYB portfolio manager Wai Hoong Leong is supported by one of the largest Asia fixed income teams. His team uses top-down macro research and bottom-up credit research to construct the Fund’s portfolio.

    * Formerly the KraneShares CCBS China Corporate High Yield Bond USD ETF prior to August 1, 2021 and, from August 2, 2021 to August 1, 2024, the KraneShares Asia Pacific High Income Bond ETF.

    1.) Data from JP Morgan as of 6/30/2024.
    2.) Data from JP Morgan and St. Louis Federal Reserve as of 6/30/2024. Asia high yield bond market is represented by the JP Morgan Asia Credit Index Non-Investment Grade. US high yield bond market is represented by the ICE BofA US High Yield Index.
    3.) Data from Nikko Asset Management as of 6/30/2024.

    KHYB Yield Metrics

    Data as of 12/03/2024
    30-day SEC Yield 7.01%
    12-Month Distribution Rate 15.74%

    This material must be preceded or accompanied by a current prospectus. Investors should read it carefully before investing or sending money.

    30-day SEC Yield (Subsidized/Unsubsidized) is a standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.

    12-Month Distribution Rate is the distribution yield an investor would have received if they had held the fund over the last twelve months, assuming the most recent NAV. The 12-Month Distribution Rate is calculated by summing any income, capital gains and return of capital distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the same period. 12-Month Distribution Rate includes return of capital. For the Fund’s fiscal year to date, please refer here for the SEC 19a Notice with a breakdown of each monthly distribution.

Fund Details

Data as of 12/03/2024
Ticker KHYB
Primary Exchange NYSE
CUSIP 500767843
ISIN US5007678437
Net Assets $19,808,860
Total Annual Fund Operating Expense 0.69%
Inception Date 6/26/2018
Distribution Frequency Monthly
BBSMI
Broad-Based Securities Market Index – a broad-based index that represents the overall applicable domestic, international equity, or debt market, as appropriate.
J.P. Morgan Asia Credit Index
Underlying Index N/A Active

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Daily Performance

Data as of 12/03/2024
Daily Net Asset Value (NAV) and Market Price
NAV $24.76
NAV Daily Change 0.04%
Market Price $24.80
Market Price Daily Change 0.04%
30 Day Median Bid/Ask Spread
0.08%
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: 11/30/2024
Fund NAV Closing Price J.P. Morgan Asia Credit Index
1 Month -0.28% 0.00% 0.49%
3 Month 1.53% 1.45% 0.70%
6 Month 5.07% 4.98% 5.05%
YTD 11.50% 11.82% 6.63%
Since Inception 4.24% 4.41% 23.03%
Avg Annualized %
Data as of month end: 11/30/2024
Fund NAV Closing Price J.P. Morgan Asia Credit Index
1 Year 13.76% 14.09% 9.67%
3 Year 1.84% 1.56% 0.78%
5 Year -0.91% -0.97% 1.63%
Since Inception 0.65% 0.67% 3.27%
Avg Annualized %
Data as of quarter end: 09/30/2024
Fund NAV Closing Price J.P. Morgan Asia Credit Index
1 Year 17.76% 18.00% 13.83%
3 Year -1.85% -1.90% 0.84%
5 Year -0.70% -0.74% 1.87%
Since Inception 0.63% 0.63% 3.45%

Broad-Based Securities Market Index (BBSMI) is a broad-based index that represents the overall applicable domestic, international equity, or debt market, as appropriate.

J.P. Morgan Asia Credit Index (Diversified): The J.P. Morgan Asia Credit Index (JACI) is an all inclusive benchmark that tracks liquid, US-dollar denominated debt instruments issued out of the Asia ex-Japan region. The index includes debt issued by Corporate, Sovereign, and Quasi-Sovereign entities from the region spanning both Investment Grade and High Yield debt segments. The JACI Diversified shares the inclusion criteria and composition of the JACI (which is the traditional market cap weighted index), however the Diversified version constraints the weights of the large countries in the index by capping the amount of eligible debt outstanding. The JACI index was launched in July 2006 followed by the JACI Diversified in May 2016.

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

2024 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2024 01/30/2024 01/31/2024 0.159081
02/27/2024 02/28/2024 02/29/2024 0.161360
03/26/2024 03/27/2024 03/28/2024 0.160709
04/26/2024 04/29/2024 04/30/2024 0.159577
05/30/2024 05/30/2024 05/31/2024 0.207273
06/27/2024 06/27/2024 06/28/2024 0.200000
07/30/2024 07/30/2024 07/31/2024 0.201428
08/29/2024 08/29/2024 08/30/2024 0.201429
09/27/2024 09/27/2024 09/30/2024 0.200000
10/30/2024 10/30/2024 10/31/2024 0.201333
11/27/2024 11/27/2024 11/29/2024 0.200000

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.

2023 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2023 01/30/2023 01/31/2023 0.181899
02/24/2023 02/27/2023 02/28/2023 0.176641
03/29/2023 03/30/2023 03/31/2023 0.172919
04/26/2023 04/27/2023 04/28/2023 0.174422
05/26/2023 05/30/2023 05/31/2023 0.167946
06/28/2023 06/29/2023 06/30/2023 0.171138
07/27/2023 07/28/2023 07/31/2023 0.166064
08/29/2023 08/30/2023 08/31/2023 0.172842
09/27/2023 09/28/2023 09/29/2023 0.176548
10/27/2023 10/30/2023 10/31/2023 0.160806
11/28/2023 11/29/2023 11/30/2023 0.165937
12/18/2023 12/19/2023 12/20/2023 1.854764
2022 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2022 01/28/2022 01/31/2022 0.198110
02/24/2022 02/25/2022 02/28/2022 0.202879
03/29/2022 03/30/2022 03/31/2022 0.200433
04/27/2022 04/28/2022 04/29/2022 0.190081
05/26/2022 05/27/2022 05/31/2022 0.186916
06/28/2022 06/29/2022 06/30/2022 0.179447
07/27/2022 07/28/2022 07/29/2022 0.171634
08/29/2022 08/26/2022 08/31/2022 0.207989
09/28/2022 09/29/2022 09/30/2022 0.172385
10/27/2022 10/28/2022 10/31/2022 0.157662
11/28/2022 11/29/2022 11/30/2022 0.165913
12/28/2022 12/29/2022 12/30/2022 0.571545
2021 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2021 01/28/2021 01/29/2021 0.157554
02/24/2021 02/25/2021 02/26/2021 0.157527
03/29/2021 03/20/2021 03/31/2021 0.157356
04/28/2021 04/29/2021 04/30/2021 0.156503
05/26/2021 05/27/2021 05/28/2021 0.156990
06/28/2021 06/29/2021 06/30/2021 0.156028
07/28/2021 07/29/2021 07/30/2021 0.154232
08/27/2021 08/30/2021 08/31/2021 0.153619
09/28/2021 09/29/2021 09/30/2021 0.149103
10/27/2021 10/28/2021 10/29/2021 0.219858
11/26/2021 11/29/2021 11/30/2021 0.214725
12/29/2021 12/30/2021 12/31/2021 0.212902
2020 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2020 01/30/2020 01/31/2020 0.164463
02/26/2020 02/27/2020 02/28/2020 0.163252
03/27/2020 03/30/2020 03/31/2020 0.147186
04/28/2020 04/29/2020 04/30/2020 0.152949
05/27/2020 05/28/2020 05/29/2020 0.156241
06/26/2020 06/29/2020 06/30/2020 0.158834
07/29/2020 07/30/2020 07/31/2020 0.160854
08/27/2020 08/28/2020 08/31/2020 0.161943
09/28/2020 09/29/2020 09/30/2020 0.161029
10/28/2020 10/29/2020 10/30/2020 0.160386
11/25/2020 11/27/2020 11/30/2020 0.159669
12/29/2020 12/30/2020 12/31/2020 0.836146
12/30/2020 12/30/2020 12/31/2020 0.142724

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2019 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2019 01/30/2019 01/31/2019 0.158701
02/26/2019 02/27/2019 02/28/2019 0.160731
03/27/2019 03/28/2019 03/29/2019 0.163395
04/26/2019 04/29/2019 04/30/2019 0.163267
05/29/2019 05/30/2019 05/31/2019 0.162855
06/26/2019 06/27/2019 06/28/2019 0.163633
07/29/2019 07/30/2019 07/31/2019 0.163654
08/28/2019 08/29/2019 08/30/2019 0.162868
09/26/2019 09/27/2019 09/30/2019 0.162766
10/29/2019 10/30/2019 10/31/2019 0.163367
11/26/2019 11/27/2019 11/29/2019 0.163449
12/26/2019 12/26/2019 12/31/2019 0.193825
12/27/2019 12/30/2019 12/31/2019 0.029864
12/30/2019 12/30/2019 12/31/2019 0.193825
2018 Distributions
Ex-Date Record Date Payable Date Amount
07/30/2018 07/27/2018 07/31/2018 0.158498
08/29/2018 08/30/2018 08/31/2018 0.159647
09/26/2018 09/27/2018 09/28/2018 0.159582
10/29/2018 10/30/2018 10/31/2018 0.157894
11/28/2018 11/29/2018 11/30/2018 0.155745
12/24/2018 12/24/2018 12/28/2018 0.001580
12/26/2018 12/27/2018 12/28/2018 0.058243
12/27/2018 12/28/2018 12/31/2018 0.157226

Topics:

Growth of $10,000

Data as of 12/03/2024

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 12/03/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 Cash 3.98% – – 788,997 788,997
2 SAN MIGUEL GLOBAL POWER HOLDINGS CORP 8 1/8 PERP 2.55% – XS2943809900 500,000 504,375
3 YANLORD LAND HK CO LTD 5 1/8 05/20/26 2.14% – XS2317279573 450,000 423,226
4 GOLOMT BANK 11 05/20/27 2.13% – USY27906AA76 400,000 422,525
5 NWD FINANCE BVI LTD 5 1/4 PERP 2.12% – XS2132986741 600,000 420,060
6 FWD GROUP HOLDINGS LTD 8.045 PERP 2.02% – XS1628340538 400,000 400,636
7 PETRON CORP 5.95 PERP 2.01% – XS2330597738 400,000 397,923
8 GREENTOWN CHINA HOLDINGS LTD 5.65 07/13/25 1.99% – XS2193529562 400,000 394,601
9 GREENTOWN CHINA HOLDINGS LTD 4.7 04/29/25 1.99% – XS2247552446 400,000 394,566
10 KRUNG THAI BANK PCL/CAYMAN ISLANDS 4.4 PERP 1.97% – XS2313655677 400,000 390,500

Holdings are subject to change.

Fund Documents

©2024 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 Fund is subject to the legal, regulatory, political and economic instability associated with investing in Asia-Pacific countries including China and Japan which may cause a decline in value. Japan has also experienced natural disasters of varying degrees of severity, which could negatively affect the Fund. 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 can invest in bonds generally and high yield bonds specifically. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities. The Fund is subject to interest rate risk, which is the chance that bonds will decline in value as interest rates rise. 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.

The Fund is subject to sovereign and quasi-sovereign debt risk. The governmental authority that controls the repayment of sovereign and quasi-sovereign debt may be unwilling or unable to repay the principal and/or interest when due. KHYB is non-diversified.

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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