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Overview

Performance

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.

Premium Discount Chart

Daily Performance

Data as of 12/06/2022
Daily Net Asset Value (NAV) and Market Price
NAV $31.24
NAV Daily Change -0.54%
Market Price $31.19
Market Price Daily Change 0.18%
30 Day Median Bid/Ask Spread
1.46%
Distributions

Performance History

Cumulative %
Data as of: 11/30/2022
Fund NAV Closing Price Index
1 Month 2.36% 2.00% 1.42%
3 Month -2.49% -3.09% -3.73%
6 Month -4.13% -3.42% -5.86%
Since Inception 8.91% 7.99% 14.92%
Avg Annualized %
Data as of month end: 11/30/2022
Fund NAV Closing Price Index
1 Year -6.64% -7.20% -7.94%
3 Year 2.14% 1.80% 2.84%
5 Year 1.48% 1.26% 1.95%
Since Inception 1.07% 0.97% 1.75%
Avg Annualized %
Data as of quarter end: 09/30/2022
Fund NAV Closing Price Index
1 Year -5.72% -6.44% -5.00%
3 Year 2.56% 2.25% 3.88%
5 Year 1.54% 1.36% 2.39%
Since Inception 1.01% 0.86% 1.92%

*Fee waivers are contractual and in effect until August 1, 2023

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.

KBND Key Metrics

Data as of 12/06/2022
30-day SEC Yield 1.92%
Unsubsidized 30-day SEC Yield 1.72%

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.

Growth of $10,000

Data as of 12/06/2022

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 12/06/2022 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 CGB 2.18 08/25/25 4.55% CND10005K405 4,500,000 639,167
2 CGB 2.48 04/15/27 4.54% CND10004TCN0 4,500,000 637,982
3 CGB 2.69 08/15/32 4.48% CND10005JJ69 4,500,000 630,149
4 Cash 4.47% 627,854 627,854
5 CGB 2.37 01/20/27 4.43% CND10004R114 4,400,000 622,532
6 CGB 2 1/2 07/25/27 4.33% CND10005F4L5 4,300,000 609,144
7 CGB 2.76 05/15/32 4.31% CND10004TM71 4,300,000 605,970
8 CHGRID 2.88 08/30/27 4.31% CND10005LVT1 4,300,000 605,446
9 CHINESE YUAN RENMINBI 4.16% 4,083,115 584,262
10 CGB 3.32 04/15/52 4.08% CND10004TCP5 4,000,000 573,422

Holdings are subject to change.