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KBND

KraneShares Bloomberg China Bond Inclusion Index ETF**

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Investment Strategy:

KBND is benchmarked to the Bloomberg China Inclusion Focused Bond Index, which is designed to track the performance of China’s onshore renminbi-denominated bond market. The Fund seeks to invest at least 80% of its assets in a basket of fixed income securities.

KBND Overview:

  • Invests in treasuries (i.e.government bonds) and high-quality corporate bonds and attempts to provide attractive yields relative to other government and investment grade bond markets with a monthly distribution.
  • KBND offers access to the securities included in Bloomberg broad fixed income indexes and investment opportunities within the second largest bond market in the world.
  • For investors seeking diversification1 within their global bond portfolios, KBND offers low correlations to other major bond markets.

Bloomberg China Bond Inclusion Overview:

  • The inclusion of onshore, Renminbi-denominated Chinese bonds in Bloomberg indexes began in April 2019 and was concluded at the end of 2020.
  • The market estimates nearly $150 billion of fund inflows into China’s $13 trillion onshore bond market2.
  • China’s government bonds are a focus of the inclusion and China has already replaced South Korea as the top issuer by weight within the Bloomberg Emerging Market Local Currency Government Bond Index.

**As of June 4, 2021, formerly the KraneShares E Fund China Commercial Paper ETF (KCNY)

1. Diversification does not ensure a profit or guarantee against a loss.
2. Financial Times, “Bloomberg adds Chinese government bonds to flagship index”, 3/31/2019.

Fund Details

Data as of 12/03/2021
TickerKBND
Primary ExchangeNYSE
CUSIP500767702
ISINUS5007677025
Net Assets$14,152,676
Total Annual Fund Operating Expense (Gross) 0.69%
Total Annual Fund Operating Expense (Net) 0.49%*
Inception Date12/02/2014
Distribution FrequencyMonthly

Fund Documents

Daily Performance

Data as of 12/03/2021
Premium Discount Chart
NAV
Net Asset Value$35.38 
Daily Change -0.10%
Price
Market Price $0.00 
Daily Change0.00%
30 Day Median Bid/Ask Spread
Value0%

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: 11/30/2021		 Fund NAV Closing Price Index
1 Month0.86% 0.51% 1.15%
3 Month1.75% 1.61% 2.30%
6 Month0.87% 0.44% 2.61%
Since Inception16.66% 16.37% 24.83%
Avg Annualized %
Data as of month end: 11/30/2021		 Fund NAV Closing PriceIndex
1 Year4.80% 4.38% 7.91%
3 Year5.09% 5.00% 6.39%
5 Year4.38% 4.43% 5.36%
Since Inception2.23% 2.19% 3.22%
Avg Annualized %
Data as of quarter end: 09/30/2021		 Fund NAV Closing Price Index
1 Year6.64% 6.34% 9.21%
3 Year4.37% 4.23% 5.41%
5 Year3.42% 3.43% 4.27%
Since Inception2.03% 1.98% 2.97%
Growth of $10,000
Data as of 12/03/2021

Performance shown for periods before June 4, 2021, reflects that of the prior Fund. Future performance may be different than past performance due to changes, including investment objectives and principal investment strategies. Additionally, before June 4, 2021, a sub-adviser was responsible for the day-to-day portfolio management, and the Fund previously sought to track the performance of a different Index before fees and expenses.

*Fee waivers are contractual and in effect until August 1, 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.

KBND Key Metrics

Data as of 11/30/2021
Current Yield2.35%
30-day SEC Yield2.50%
Unsubsidized 30-day SEC Yield 2.30%

Current Yield reflects the current yield of the bond holdings within a fund, calculated by dividing annual income (interest or dividends) by the current price of the security.

30-day SEC Yield (Subsidized/Unsubsidized) is a standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.

This material must be preceded or accompanied by a current prospectus. Investors should read it carefully before investing or sending money.

Top 10 Holdings

Data as of 12/03/2021
Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 CHINESE YUAN RENMINBI 8.98% – – 8,108,106 1,271,361
2 POWINV 3.55 10/22/22 4.46% – CND10002K196 4,000,000 631,201
3 CITICS 3.58 07/25/22 4.45% – CND10002DZG3 4,000,000 630,478
4 CNPCCH 3.51 07/09/22 4.45% – CND10002DDP1 4,000,000 629,941
5 CHRAIL 3.57 01/21/22 4.44% – CND10001XR16 4,000,000 627,816
6 NEWDEV 3 02/26/22 4.44% – CND10001YCH8 4,000,000 627,689
7 CHGRID 2.82 06/23/22 4.43% – CND10004HD68 4,000,000 627,471
8 SBSG 2.37 05/22/23 4.40% – CND100037S49 4,000,000 622,807
9 CHEVBK 0 01/07/22 4.31% – BN3592852 4,000,000 609,878
10 CGB 2.85 06/04/27 4.17% – CND100037XX3 3,760,000 590,109

Holdings are subject to change.

Related Content:

Topics

©2021 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 and summary prospectus, which may be obtained by visiting: KWEB, KBA, KURE, KFYP, KGRN, KALL, KBND, KHYB, OBOR, KARS, KEMQ, KMED, KEMX, KESG, KSTR, KFVG, KBUY, KRBN, KTEC, KEUA, KCCA, KGRO, KLCD, KSCD, IVOL, BNDD, KDFI, KVLE, KMLM, KUASX, KUAIX. Read the prospectus carefully before investing. Please note these links also contain the Funds' top ten holdings, performance, and other important information.

Risk Disclosures:

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

The Fund 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 Fund is subject to political, social or economic instability within China which may cause decline in value. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. The components of the securities held by the Fund will be rated by Chinese credit rating agencies, which may use different criteria and methodologies than U.S. entities or international credit rating agencies. The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Funds’ gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate which may cause the Fund to suffer losses.

The Fund can invest in bonds generally and high yield bonds specifically. High yield bonds involve greater risks of default or downgrade and are more volatile than investment grade securities. The Fund is subject to interest rate risk, which is the chance that bonds will decline in value as interest rates rise. The Fund may invest 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 a change in interest rates. Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in an industry or group of industries to the extent that the Underlying Index concentrates in a particular industry or group of industries. The securities of companies in an industry or group of industries could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect one industry or group of industries or sector.

The Fund is subject to sovereign and quasi-sovereign debt risk. The governmental authority that controls the repayment of sovereign and quasi-sovereign debt may be unwilling or unable to repay the principal and/or interest when due. KBND is non-diversified.

ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

The KraneShares ETFs, KFA Funds ETFs, and KraneShares Mutual Funds 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 Funds, or any sub-advisers for the Funds.

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