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OBOR

KraneShares MSCI One Belt One Road ETF

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Investment Strategy:

The KraneShares MSCI One Belt One Road ETF (ticker: OBOR) seeks to provide investment results that track the price and yield performance of the MSCI Global China Infrastructure Exposure Index. The Index aims to identify potential beneficiaries of the One Belt One Road initiative based on how their geography, revenue, and sector attributes align with the broad theme. OBOR seeks to capture the economic growth and monetize the potential upside for the companies involved in China’s One Belt One Road initiative.

OBOR Initiative Facts:

  • The One Belt One Road (OBOR) initiative, established by President Xi Jinping of China, is an extensive long-term infrastructure initiative modernizing the original Silk Road trading routes by land and by sea.
  • China has signed cooperation agreements with 134 countries and international organizations1, which, including China, represent 78% of the global population and 41% of global GDP2.
  • The OBOR initiative could see upwards of $6 trillion in investment in the coming years and is poised to reshape global trade3.

OBOR ETF Highlights:

  • Includes countries who may benefit from the OBOR initiative, such as China, Russia, Singapore , Malaysia, Israel, and others.
  • Includes sectors of primary focus to the OBOR initiative, such as industrials, utilities, materials, financials, and energy.
  • Benchmarked to MSCI, a global leader in international indexing.

1.) “The Belt and Road Initiative: Country Profiles”, HKTDC.com as of 3/31/2019
2.) Data from the World Bank as of 12/31/2017, last updated 3/21/2019, retrieved 3/31/2019.
3.) “One Belt, One Road”: China's New Global Strategy, Journal of Contemporary East Asia Studies, 3/28/2017, retrieved 3/31/2019.

Fund Details

Data as of 11/11/2019
TickerOBOR
Primary ExchangeNYSE
CUSIP500767868
ISINUS5007678684
Net Assets$18,025,165
Total Annual Fund Operating Expense0.79%
Inception Date9/07/2017
Distribution FrequencyAnnual

Fund Documents

Daily Performance

Data as of 11/11/2019
Premium Discount Chart
NAV
Net Asset Value$24.03 
Daily Change-1.52%
Price
Closing Price$24.04 
Daily Change-1.15%

Performance History

Distributions
Cumulative %
Data as of: 10/31/2019		Fund NAVClosing PriceIndex
1 Month3.66%3.64%3.82%
3 Month-0.63%0.04%-0.40%
6 Month-0.42%-1.27%-0.03%
Since Inception-3.11%-3.91%-0.97%
Avg Annualized %
Data as of month end: 10/31/2019		Fund NAVClosing PriceIndex
1 Year9.54% 8.68%10.80%
Since Inception-1.46% -1.84%-0.45%
Avg Annualized %
Data as of quarter end: 09/30/2019		Fund NAVClosing PriceIndex
1 Year-2.04%-2.51%-1.36%
Since Inception-3.22% -3.60%-2.26%

*Fee waivers are contractual and in effect until 7/31/18

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.

Top 10 Holdings

Data as of 11/11/2019
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerShares HeldMarket Value($)
1
MMC NORILSK NICKEL PJSC
7.47%GMKN RM4,7481,346,208
2
OCBC BANK
5.34%OCBC SP117,812961,748
3
ROSNEFT OIL CO PJSC
5.02%ROSN RM127,540904,440
4
CHINA YANGTZE-A
3.54%600900 C1248,593638,227
5
PCHEM
3.03%PCHEM MK293,700546,494
6
IMPALA PLATINUM
2.81%IMP SJ72,695506,091
7
JG SUMMIT HOLDINGS INC
2.66%JGS PM314,150478,586
8
ANGLO AMERICAN P
2.44%AMS SJ5,782439,261
9
PTT GLOBAL CH-F
2.44%PTTGC/F TB246,800439,226
10
KGHM POLSKA MIEDZ SA
2.17%KGH PW15,722391,456

Holdings are subject to change.

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©2019 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 & summary prospectus, which may be obtained here: KWEB, KBA, OBOR, KGRN, KARS, KURE, KEMQ, KCNY, KFYP, KALL, KCCB, KMED, KEMX. Read the prospectus carefully before investing. Please note these links also contain the fund's current top ten holdings.

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. ETF shares are not redeemable with the issuing fund other than in large Creation Unit aggregations. Instead, investors must buy or sell ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling. The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). Shares are bought and sold at market price (closing price) not NAV. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined).

The Funds are subject to political, social or economic instability within China which may cause decline in value. Variable-interest entities (VIEs) do not give investors ownership in the operating company as stock does. The enforceability of the VIE structure is not guaranteed by Chinese law. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume.

Narrowly focused investments typically exhibit higher volatility. Internet companies are subject to rapid changes in technology, worldwide competition, rapid obsolescence of products and services, loss of patent protections, evolving industry standards and frequent new product productions. Such changes may have an adverse impact on performance. Technology companies may be subject to severe competition and rapid obsolescence. The KraneShares CSI China Internet ETF, the KraneShares MSCI One Belt One Road ETF, the KraneShares CICC China Leaders 100 Index ETF, the KraneShares Emerging Markets Consumer Technology ETF, the KraneShares MSCI China Environment ETF, the KraneShares Electric Vehicles and Future Mobility Index ETF, the KraneShares MSCI All China Health Care Index ETF, the KraneShares CCBS China Corporate High Yield Bond USD Index ETF, and the KraneShares Emerging Market Healthcare Index ETF are non-diversified.

The ability of the KraneShares Bosera MSCI China A ETF, the KraneShares MSCI All China Index ETF, the KraneShares MSCI One Belt One Road ETF, the KraneShares Emerging Markets Consumer Technology ETF, the KraneShares Electric Vechicles and Future Mobility Index ETF, the KraneShares MSCI All China Health Care Index ETF, and the KraneShares Emerging Market Healthcare Index ETF to achieve their respective investment objectives is dependent, in part, on the continuous availability of A Shares and the ability to obtain, if necessary, additional A Shares quota. If a Fund is unable to obtain sufficient exposure to limited availability of A Share quota, the Fund could seek exposure to the component securities of the Underlying Index by investment in other types of securities. The funds may in invest in derivatives, which are often more volatile than other investments and may magnify the Funds’ gains or losses.

The KraneShares E Fund China Commercial Paper ETF & The KraneShares CCBS China Corporate High Yield Bond USD Index ETF are subject to interest rate risk, which is the chance that bonds will decline in value as interest rates rise. The components of the securities held by these Funds will be rated by Chinese credit rating agencies, which may use different criteria and methodology than U.S. entities or international credit rating agencies. The Fund may invest in high yield and unrated securities, whose prices are generally more sensitive to adverse economic changes and consequently more volatile. These Funds are subject to industry concentration risk and is non-diversified. Narrowly focused investments typically exhibit higher volatility.

The KraneShares CCBS China Corporate High Yield Bond USD Index ETF invests in perpetual bonds, which offer fixed return with no maturity date. Perpetual bonds can be more volatile than other types of bonds that have a maturity date and may be more sensitive to changes to interest rates.

The KraneShares CCBS China Corporate High Yield Bond USD Index ETF depends on the CIBM Program to invest directly in RMB Bonds. There is no guarantee the Fund will be able to continue to participate in the program.

The KraneShares MSCI All China Health Care Index ETF and the KraneShares Emerging Market Healthcare Index ETF invests primarily in the health care industry. The profitability of companies in the healthcare sector may be affected by government regulations and government healthcare programs, government reimbursement for medical expenses, increases or decreases in the cost of medical products and services, limited product lines, increased emphasis on the delivery of healthcare through outpatient services and product liability claims. Many healthcare companies are heavily dependent on patent protection, which may be time consuming and costly, and the expiration of a company’s patent may adversely affect that company’s profitability. Healthcare companies are subject to competitive forces that may result in pricing pressure, including price discounting, and may be thinly capitalized and susceptible to product obsolescence. Many new products in the healthcare sector require significant research and development and may be subject to regulatory approvals, which may be time consuming and costly and with no guarantee that the product will come to market.

Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

The KraneShares 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 Fund.

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