Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KALL is benchmarked to the MSCI China All Shares Index, which provides exposure to Chinese securities listed on all Chinese stock exchanges, including Mainland China, Hong Kong, and the United States. Companies available for inclusion must be headquartered in China and meet the market capitalization minimums required by the MSCI Global Investable Market Indexes Methodology.

China Broad Equity Market Features:

  • The increased availability of Chinese equities to foreign investors over the past few years has brought about the rise of China as an asset class.
  • China has the world’s second largest economy and equity market, with a capitalization of over $12.1 trillion1.
  • Only 3% of China’s Mainland stock market is owned by foreigners2.

KALL features:

  • Strategic ownership of China as an asset class.
  • Exposure to shares of Chinese companies listed in Hong Kong, Mainland China, and the United States.
  • A broad exposure to the world’s second largest equity market that can be used for China specific allocation in order to produce more efficient portfolios.

1.) Data from MSCI as of December 31, 2020. In order to capture the entire China opportunity, we added together the full market caps of the Shenzhen and Shanghai Stock Exchanges and then added the MSCI China Index market capitalization to arrive at the market cap for each year.
2.) WSJ. “It Was a Lost Decade for China’s Stock Market, but Investors Bet on Better Times Ahead”. 1/4/2020, retrieved 9/30/2021.

Premium Discount Chart

Daily Performance

Data as of 05/17/2024
Daily Net Asset Value (NAV) and Market Price
NAV $20.57
NAV Daily Change 1.23%
Market Price $20.64
Market Price Daily Change 1.13%
30 Day Median Bid/Ask Spread
0.36%

Performance History

Cumulative %
Data as of: 04/30/2024
Fund NAV Closing Price Index
1 Month 5.15% 4.72% 4.75%
3 Month 13.79% 13.21% 15.09%
6 Month 3.88% 3.30% 3.64%
YTD 4.00% 3.51% 3.65%
Since Inception 0.29% -0.34% 0.53%
Avg Annualized %
Data as of month end: 04/30/2024
Fund NAV Closing Price Index
1 Year -7.17% -8.39% -9.15%
3 Year -14.65% -14.79% -15.41%
5 Year -2.90% -3.22% -3.49%
Since Inception 0.03% -0.04% 0.06%
Avg Annualized %
Data as of quarter end: 03/31/2024
Fund NAV Closing Price Index
1 Year -15.09% -15.54% -16.63%
3 Year -15.61% -15.96% -16.07%
5 Year -3.58% -3.85% -4.10%
Since Inception -0.52% -0.54% -0.45%

*Fee waivers are and in effect until August 1, 2024

Hybrid index performance (noted as "Index" above) reflects the performance of the FTSE Emerging incl China Overseas non-R/QFII GDP Weighted Index through July 31, 2018 and the MSCI China All Shares Index thereafter.

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 0.614429
2022 Distributions
Ex-Date Record Date Payable Date Amount
12/28/2022 12/29/2022 12/30/2022 1.247897
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2021 12/30/2021 12/31/2021 1.326949
2020 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2020 12/30/2020 12/31/2020 0.348691

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2019 Distributions
Ex-Date Record Date Payable Date Amount
12/27/2019 12/30/2019 12/31/2019 0.383973
2018 Distributions
Ex-Date Record Date Payable Date Amount
12/26/2018 12/27/2018 12/28/2018 0.431040

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 TENCENT HOLDINGS LTD 8.90% 700 KYG875721634 12,658 640,973
2 ALIBABA GROUP HOLDING LTD 4.96% 9988 KYG017191142 32,524 357,324
3 KWEICHOW MOUTAI CO LTD-A 2.64% 600519 CNE0000018R8 800 189,771
4 PDD HOLDINGS INC 2.38% PDD US7223041028 1,171 171,188
5 MEITUAN-CLASS B 2.37% 3690 KYG596691041 10,666 170,915
6 CHINA CONSTRUCTION BANK-H 2.04% 939 CNE1000002H1 196,000 146,991
7 BANK OF CHINA LTD-H 1.45% 3988 CNE1000001Z5 210,396 104,112
8 PING AN 1.34% 2318 CNE1000003X6 16,500 96,138
9 XIAOMI CORP-CLASS B 1.33% 1810 KYG9830T1067 37,400 95,604
10 JD.COM INC-CLASS A 1.28% 9618 KYG8208B1014 5,372 92,348

Holdings are subject to change. Currently, KALL plans to achieve its investment objective, in part, by investing a portion of its assets in the KraneShares Bosera MSCI China A Share ETF (ticker: KBA).