Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KSTR seeks to track the performance of the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index is comprised of the 50 largest companies listed on the SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.

STAR Market Highlights:

  • Facilitates the fast-tracking of private science and technology companies to an initial public offering (IPO).
  • Since its establishment in July 2019, the STAR Market has become one of the largest IPO markets globally1 and a premier listing venue for prominent Chinese unicorns (privately held startup companies valued at over $1 billion).
  • Recent increases in fund-raising activity on Chinese exchanges can largely be attributed to the STAR Market, which accounted for 38% of capital raised across China’s Mainland A-Share market in 20212.
  • Potential inclusion in the SSE Composite Index and Shanghai-Hong Kong Stock Connect could result in greater flows for STAR Market securities.

KSTR Features:

  • Exposure to companies poised to be China’s future leaders across industries that could represent the growth engine of China for decades to come.
  • Innovation-driven science and technology companies in China that offer a potential source of uncorrelated, long-term growth.
  • Includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.

1. YiCai Global, “China’s Year-Old Star Market Outshines the Venerable Nasdaq”, July 23, 2020.
2. Deloitte, “Mainland and Hong Kong IPO markets to remain strong and vibrant in 2022”, December 20, 2021.

Premium Discount Chart

Daily Performance

Data as of 05/17/2024
Daily Net Asset Value (NAV) and Market Price
NAV $10.84
NAV Daily Change 0.93%
Market Price $10.87
Market Price Daily Change 1.49%
30 Day Median Bid/Ask Spread
0.46%

Performance History

Cumulative %
Data as of: 04/30/2024
Fund NAV Closing Price Index
1 Month 1.10% 0.64% 0.33%
3 Month 12.11% 12.69% 11.11%
6 Month -10.11% -9.90% -11.21%
YTD -10.70% -10.34% -11.83%
Since Inception -55.92% -55.96% -52.96%
Avg Annualized %
Data as of month end: 04/30/2024
Fund NAV Closing Price Index
1 Year -33.01% -33.11% -32.23%
3 Year -21.38% -21.27% -19.31%
Since Inception -22.22% -22.24% -20.65%
Avg Annualized %
Data as of quarter end: 03/31/2024
Fund NAV Closing Price Index
1 Year -35.46% -35.57% -32.51%
3 Year -19.71% -19.80% -17.45%
Since Inception -22.99% -22.90% -21.21%

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

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.

Distribution History

2023 Distributions
Ex-Date Record Date Payable Date Amount
12/18/2023 12/19/2023 12/20/2023 0.000000
2022 Distributions
Ex-Date Record Date Payable Date Amount
12/28/2022 12/29/2022 12/30/2022 0.000000
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2021 12/30/2021 12/31/2021 0.000000

Growth of $10,000

Data as of 05/17/2024

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 05/17/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 HYGON INFORMAT-A 7.74% 688041 BMZNGH6 184,894 1,889,155
2 BEIJING KINGSO-A 7.32% 688111 CNE100003PM2 45,911 1,784,939
3 SHANGHAI UNITE-A 6.01% 688271 BN47MR8 81,949 1,465,612
4 MONTAGE TECHNO-A 5.08% 688008 CNE100003MN7 181,050 1,238,595
5 SHENZHEN TRANS-A 4.99% 688036 CNE100003P74 64,160 1,217,041
6 CAMBRICON TECHNOLOGIES-A 4.48% 688256 CNE1000041R8 41,424 1,093,391
7 ADVANCED MICRO-A 4.42% 688012 CNE100003MM9 59,616 1,077,825
8 BEIJING ROBORO-A 3.84% 688169 CNE100003R80 15,784 935,720
9 SUPCON TECHNOLOGY CO-A 2.87% 688777 CNE100005D92 109,406 700,949
10 NATIONAL SILIC-A 2.46% 688126 CNE1000040F5 327,794 600,296

Holdings are subject to change.