中文

Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

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 11/28/2023
Ticker KBND
Primary Exchange NYSE
CUSIP 500767702
ISIN US5007677025
Net Assets $3,103,263
Total Annual Fund Operating Expense (Gross) 0.69%
Total Annual Fund Operating Expense (Net) 0.49%*
Inception Date 12/02/2014
Distribution Frequency Monthly

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Daily Performance

Data as of 11/28/2023
Daily Net Asset Value (NAV) and Market Price
NAV $31.03
NAV Daily Change 0.39%
Market Price $30.84
Market Price Daily Change 0.07%
30 Day Median Bid/Ask Spread
0.39%
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

Cumulative %
Data as of: 10/31/2023
Fund NAV Closing Price Index
1 Month -0.10% -0.10% -0.05%
3 Month -1.44% -1.45% -1.93%
6 Month -3.22% -3.05% -3.65%
YTD -1.95% -0.47% -1.97%
Since Inception 9.46% 8.76% 15.93%
Avg Annualized %
Data as of month end: 10/31/2023
Fund NAV Closing Price Index
1 Year 2.88% 2.72% 2.30%
3 Year 0.07% 0.02% 0.61%
5 Year 1.86% 1.71% 2.38%
Since Inception 1.02% 0.95% 1.67%
Avg Annualized %
Data as of quarter end: 09/30/2023
Fund NAV Closing Price Index
1 Year 1.30% 1.78% -0.05%
3 Year 0.61% 0.41% 1.22%
5 Year 1.66% 1.52% 2.15%
Since Inception 1.04% 0.97% 1.69%

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

Hybrid index performance (noted as "Index" above) reflects the performance of the CSI Diversified High Grade Commercial Paper Index through May 14, 2021 and the Bloomberg Barclays China Inclusion Focused Bond 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.

Distribution History

2023 Distributions and Calendar
Ex-Date Record Date Payable Date Amount
01/27/2023 01/30/2023 01/31/2023 0.064372
02/24/2023 02/27/2023 02/28/2023 0.063261
03/29/2023 03/30/2023 03/31/2023 0.063646
04/26/2023 04/27/2023 04/28/2023 0.063573
05/26/2023 05/30/2023 05/31/2023 0.063050
06/28/2023 06/29/2023 06/30/2023 0.061608
07/27/2023 07/28/2023 07/31/2023 0.062190
08/29/2023 08/30/2023 08/31/2023 0.061062
09/27/2023 09/28/2023 09/29/2023 0.060769
10/27/2023 10/30/2023 10/31/2023 0.060882
11/28/2023 11/29/2023 11/30/2023 0.062083
12/18/2023 12/19/2023 12/20/2023

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.

2022 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2022 01/28/2022 01/31/2022 0.068722
02/24/2022 02/25/2022 02/28/2022 0.068479
03/29/2022 03/30/2022 03/31/2022 0.067754
04/27/2022 04/28/2022 04/29/2022 0.065934
05/26/2022 05/27/2022 05/31/2022 0.065446
06/28/2022 06/29/2022 06/30/2022 0.065159
07/27/2022 07/28/2022 07/29/2022 0.064629
08/29/2022 08/26/2022 08/31/2022 0.064100
09/28/2022 09/29/2022 09/30/2022 0.061633
10/27/2022 10/28/2022 10/31/2022 0.060516
11/28/2022 11/29/2022 11/30/2022 0.061403
12/28/2022 12/29/2022 12/30/2022 0.062585
2021 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2021 01/28/2021 01/29/2021 0.070271
02/24/2021 02/25/2021 02/26/2021 0.070350
03/29/2021 03/30/2021 03/31/2021 0.069605
04/28/2021 04/29/2021 04/30/2021 0.070137
05/26/2021 05/27/2021 05/28/2021 0.070694
06/28/2021 06/29/2021 06/30/2021 0.069485
07/28/2021 07/29/2021 07/30/2021 0.069942
08/27/2021 08/30/2021 08/31/2021 0.069926
09/28/2021 09/29/2021 09/30/2021 0.069910
10/27/2021 10/28/2021 10/29/2021 0.070642
11/26/2021 11/29/2021 11/30/2021 0.070665
12/29/2021 12/30/2021 12/31/2021 1.600871
2020 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2020 01/30/2020 01/31/2020 0.065664
02/26/2020 02/27/2020 02/28/2020 0.065275
03/27/2020 03/30/2020 03/31/2020 0.064304
04/28/2020 04/29/2020 04/30/2020 0.064653
05/27/2020 05/28/2020 05/29/2020 0.064040
06/26/2020 06/29/2020 06/30/2020 0.064623
07/29/2020 07/30/2020 07/31/2020 0.065235
08/27/2020 08/28/2020 08/31/2020 0.066082
09/28/2020 09/29/2020 09/30/2020 0.066737
10/28/2020 10/29/2020 10/30/2020 0.068084
11/25/2020 11/27/2020 11/30/2020 0.069266
12/29/2020 12/30/2020 12/31/2020 0.069731
2019 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2019 01/30/2019 01/31/2019 0.119661
02/26/2019 02/27/2019 02/28/2019 0.120332
03/27/2019 03/28/2019 03/29/2019 0.120270
04/26/2019 04/29/2019 04/30/2019 0.102825
05/29/2019 05/30/2019 05/31/2019 0.099815
06/26/2019 06/27/2019 06/28/2019 0.100324
07/29/2019 07/30/2019 07/31/2019 0.100351
08/28/2019 08/29/2019 08/30/2019 0.096121
09/26/2019 09/27/2019 09/30/2019 0.080593
10/29/2019 10/30/2019 10/31/2019 0.064893
11/26/2019 11/27/2019 11/29/2019 0.065028
12/27/2019 12/30/2019 12/31/2019 0.065427

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2018 Distributions
Ex-Date Record Date Payable Date Amount
04/27/2018 04/26/2018 04/30/2018 0.111863
05/30/2018 05/29/2018 05/31/2018 0.128914
06/28/2018 06/27/2018 06/29/2018 0.126108
07/30/2018 07/27/2018 07/31/2018 0.121514
08/29/2018 08/30/2018 08/31/2018 0.120988
09/26/2018 09/27/2018 09/28/2018 0.120509
10/29/2018 10/30/2018 10/31/2018 0.118426
11/28/2018 11/29/2018 11/30/2018 0.118594
12/26/2018 12/27/2018 12/28/2018 0.697829
2016 Distributions
Ex-Date Record Date Payable Date Amount
04/07/2016 04/05/2016 04/08/2016 0.011971
2015 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2015 01/27/2015 01/30/2015 0.064607
02/26/2015 02/24/2015 02/27/2015 0.078549
03/27/2015 03/26/2015 03/28/2015 0.000000
04/29/2015 04/27/2015 04/30/2015 0.015476
05/28/2015 05/26/2015 05/29/2015 0.043924
06/29/2015 06/25/2015 06/30/2015 0.095822
07/30/2015 07/28/2015 07/31/2015 0.086524
12/30/2015 12/28/2015 12/31/2015 0.009000
2014 Distributions
Ex-Date Record Date Payable Date Amount
12/30/2014 12/26/2014 12/31/2014 0.091400

Topics:

Growth of $10,000

Data as of 11/28/2023

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 11/28/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 CHEVBK 2.47 10/20/25 17.91% – CND10005S2R1 4,000,000 555,703
2 NEWDEV 2.45 01/27/25 13.48% – CND10004S9K2 3,000,000 418,392
3 YANTZE 4.15 05/11/26 9.29% – CND000000M81 2,000,000 288,276
4 CGB 2.62 06/25/30 7.64% – CND10006KWD3 1,700,000 237,133
5 CGB 3.29 05/23/29 7.49% – CND1000291L3 1,600,000 232,556
6 ADBCH 2.83 06/16/33 6.72% – CND10006KTX7 1,500,000 208,482
7 CGB 2.52 08/25/33 5.33% – CND10006VQZ5 1,200,000 165,444
8 CGB 2.18 08/15/26 4.92% – CND10006VNH0 1,100,000 152,668
9 EXIMCH 3.18 03/11/32 4.61% – CND10004T1Y9 1,000,000 143,081
10 SDBC 2.82 05/22/33 4.51% – CND10006GPV7 1,000,000 140,062

Holdings are subject to change.

Fund Documents

©2023 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: www.kraneshares.com. Read the prospectus carefully before investing.

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 may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s 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. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the derivative.

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 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 a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. 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 and KFA Funds 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 Funds, or any sub-advisers for the Funds.

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