KURE

KraneShares MSCI All China Health Care Index ETF

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Investment Strategy:

KURE seeks to measure the performance of MSCI China All Shares Health Care 10/40 Index. The Index is a free float adjusted market capitalization weighted index designed to track the equity market performance of Chinese companies engaged in the health care sector. The securities in the Index include all types of publicly issued shares of Chinese issuers, which are listed in Mainland China, Hong Kong and United States. Issuers eligible for inclusion must be classified under the Global Industry Classification Standard as engaged in the healthcare sector. The issuers included in the Underlying Index may include small-cap, mid-cap and large-cap companies.

China Health Care Sector Highlights:

  • China is one of the fastest growing major healthcare markets in the world with a five-year compound annual growth rate of 11%, compared to just 4% in the United States, and -4% in Japan1.
  • China is the second largest healthcare market globally with total healthcare expenditure reaching $558 billion in 20161, a number projected to reach $1.1 trillion by 20202.
  • There is still opportunity for considerable growth in China’s healthcare market with per capita health spending at just $398, compared to an average of over $6,500 for the world’s top eight healthcare markets in terms of per capita expenditure3.
  • China’s aging population, rising incomes and increasing urbanization may provide a sustained catalyst for growth in China’s healthcare sector.

KURE features:

  • Exposure to Chinese companies listed in the Mainland, Hong Kong and United States that are involved in the healthcare industry, specifically: patent and generic pharmaceuticals, hospital administration, biotechnology, medical equipment production, healthcare IT, and traditional Chinese medicine.
  • Exposure to companies that benefit from China’s growing middle class and aging population.
  • Access to leading Chinese pharmaceutical companies which have been recipients of favorable policy and market conditions for research and development and the invention of new medicines and devices.

1.) Major healthcare markets defined as top five global markets by the World Health Organization. Data from the World Health Organization as of 12/31/2016, last updated on 1/8/2019, retrieved on 3/31/2019

2.) International Trade Association, "2016 Top Markets Report Pharmaceuticals, 2016". Retrieved 3/31/2019.

3.) World Health Organization, 2016. Data as of 1/8/2019, retrieved on 3/31/2019.

Fund Details

Data as of 10/19/2021
TickerKURE
Primary ExchangeNYSE
CUSIP500767835
ISINUS5007678353
Net Assets$215,251,775
Total Annual Fund Operating Expense (Gross) 0.79%
Total Annual Fund Operating Expense (Net) 0.65%*
Inception Date1/31/2018
Distribution FrequencyAnnual

Daily Performance

Data as of 10/19/2021
Premium Discount Chart
NAV
Net Asset Value$36.80 
Daily Change 2.41%
Price
Market Price $36.71 
Daily Change2.22%
30 Day Median Bid/Ask Spread
Value0.61%

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: 09/30/2021
Fund NAV Closing Price Index
1 Month3.95% 4.32% 4.07%
3 Month-18.09% -17.93% -17.94%
6 Month-2.35% -3.96% -1.46%
Since Inception50.63% 50.59% 55.46%
Avg Annualized %
Data as of quarter end: 09/30/2021
Fund NAV Closing Price Index
1 Year11.68% 11.48% 13.60%
3 Year19.08% 18.54% 20.70%
Since Inception11.82% 11.81% 12.79%
Growth of $10,000
Data as of 10/19/2021

*Fee waivers are contractual and in effect until August 2022

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.

Top 10 Holdings

Data as of 10/19/2021
Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 WUXI BIOLOGICS CAYMAN INC 9.33% 2269 KYG970081173 1,324,135 20,077,746
2 SHENZHEN MINDR-A 5.92% 300760 CNE100003G67 216,499 12,746,023
3 WUXI APPTEC CO LTD-A 4.75% 603259 CNE1000031K4 449,220 10,218,034
4 BEIGENE LTD-ADR 4.38% BGNE US07725L1026 25,085 9,431,960
5 JIANGSU HENGRU-A 3.98% 600276 CNE0000014W7 1,101,132 8,569,369
6 ZHANGZHOU PIEN-A 3.35% 600436 CNE000001F21 104,834 7,218,346
7 AIER EYE HSPTL-A 3.31% 300015 CNE100000GR6 962,928 7,126,758
8 INNOVENT BIOLOGICS INC 3.16% 1801 KYG4818G1010 677,500 6,796,304
9 CSPC PHARMACEUTI 2.79% 1093 HK1093012172 5,140,889 6,009,952
10 CHONGQING ZHIF-A 2.74% 300122 CNE100000V20 261,249 5,906,349

Holdings are subject to change.