Menu

Overview

Performance

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KURE tracks the MSCI China All Shares Health Care 10/40 Index, providing targeted exposure to Chinese companies engaged in the health care sector. The Index is a free float adjusted market capitalization weighted index that includes companies 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 ten-year compound annual growth rate of 13%, compared to just 3% in the United States and 2% in Japan1.
  • China is the second largest healthcare market globally with total healthcare expenditures reaching $1.1 trillion in 2019, increasing at an average annual growth rate of 11% over the last 5 years2.
  • There is still opportunity for considerable growth in China’s healthcare market with per capita health spending at just $501, compared to an average of over $5,700 for the world’s top eight healthcare markets3.
  • 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, last updated on 4/7/2020. Retrieved 9/30/2021.
2.) China Briefing, “China’s Healthcare Industry – Opportunities in Telemedicine and Digital Healthcare”, Jul. 31, 2020, Retrieved 9/30/2021.
3.) Data from the World Health Organization, last updated on 4/7/2020. Retrieved 9/30/2021.

Premium Discount Chart

Daily Performance

Data as of 12/01/2022
Daily Net Asset Value (NAV) and Market Price
NAV $20.57
NAV Daily Change 0.43%
Market Price $20.50
Market Price Daily Change -1.63%
30 Day Median Bid/Ask Spread
0.75%
Distributions

Performance History

Cumulative %
Data as of: 11/30/2022
Fund NAV Closing Price Index
1 Month 15.12% 17.01% 14.40%
3 Month -0.73% 1.76% -0.91%
6 Month -0.68% 2.31% -0.97%
Since Inception -5.55% -3.84% -2.58%
Avg Annualized %
Data as of month end: 11/30/2022
Fund NAV Closing Price Index
1 Year -32.77% -31.53% -32.93%
3 Year 1.79% 2.36% 2.64%
Since Inception -1.18% -0.81% -0.54%
Avg Annualized %
Data as of quarter end: 09/30/2022
Fund NAV Closing Price Index
1 Year -45.44% -45.70% -45.14%
3 Year -1.08% -1.10% 0.02%
Since Inception -4.12% -4.22% -3.35%

*Fee waivers are contractual and in effect until August 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 12/01/2022

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 12/02/2022 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 WUXI BIOLOGICS CAYMAN INC 9.90% 2269 KYG970081173 1,435,135 9,550,788
2 SHENZHEN MINDR-A 7.19% 300760 CNE100003G67 148,855 6,931,302
3 JIANGSU HENGRU-A 4.55% 600276 CNE0000014W7 762,728 4,385,330
4 CSPC PHARMACEUTI 4.37% 1093 HK1093012172 3,610,889 4,216,914
5 BEIGENE LTD 3.79% 6160 KYG1146Y1017 241,300 3,658,104
6 WUXI APPTEC CO LTD-A 3.49% 603259 CNE1000031K4 305,020 3,364,549
7 AIER EYE HSPTL-A 3.38% 300015 CNE100000GR6 822,037 3,258,250
8 ZHANGZHOU PIEN-A 2.62% 600436 CNE000001F21 68,634 2,530,593
9 CHONGQING ZHIF-A 2.49% 300122 CNE100000V20 189,949 2,402,390
10 SINO BIOPHARMACEUTICAL 2.43% 1177 KYG8167W1380 4,057,750 2,340,714

Holdings are subject to change.