Overview

Outcome Details

Performance

Distributions

Outcome Period Performance

Holdings

Fund Documents

Overview

Investment Strategy:

The KraneShares 90% KWEB Defined Outcome January 2026 ETF (Ticker: KBUF) aims to match the price return of the KraneShares CSI China Internet ETF (Ticker: KWEB), to a predetermined cap of 41.20%, with a 90% downside buffer over the Outcome Period, from February 8, 2024 to January 16, 2026. For more information, see the outcome details below.

Defined Outcome ETF Features:

  • A defined outcome ETF is an exchange-traded fund that seeks to provide investors with upside returns of an underlying asset subject to an upside return "Cap" while protecting shareholders by providing a "Buffer" against decreases in the price return of the underlying asset. The upside cap may be higher for underlying assets with higher volatility.
  • Defined outcome ETFs invest in the underlying asset and FLexible EXchange® Options (Flex Options) on the underlying asset. The ETF manages the options exposure for investors, which can be more economical and time efficient than buying individual options.

KBUF Features:

  • KBUF provides capped upside participation and 90% downside protection on KWEB, an established ETF with a deep options market.
  • KWEB provides exposure to the China internet sector, which has historically been more volatile than the US internet/technology sector. As a result, KBUF may have a higher upside cap than other defined outcome strategies.
  • We believe China Internet is an important global growth theme, and China’s online retail sales totaled $2 trillion1 in 2022, compared to only $1 trillion2 in the United States.

For investors interested in more of our defined outcome strategies, we also offer:

The Fund has characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please read the Fund's prospectus including "Investor Suitability Considerations."

1. Data from Statista as of 12/31/2022. Retrieved 12/31/2023. Note: Figures converted from Chinese Renminbi to USD.
2. Data from U.S. Department of Commerce as of 12/31/2022. Retrieved on 12/31/2023.

Outcome Details

Series 2 Year to Jan 2026
Outcome Period 2/08/2024 - 1/16/2026
Starting Cap
The starting maximum potential return if held to the end of the current Outcome Period, before fees and expenses.
41.20%
Starting Buffer
The starting amount of downside protection the fund seeks to provide if held to the end of the Outcome Period.
90.00%
Exposure KWEB
Outcome Period Values (Gross/Net)
Data as of: 05/17/2024
Starting Value
Values for the Outcome Period, as of the start of the Outcome Period, which was market open on 2/08/2024.
Current Value
Values for the Remaining Outcome Period, as of market close on 05/17/2024.
Cap
Maximum potential return the ETF seeks to provide for the Outcome Period.
41.20% / 40.52% 25.85% / 25.32%
Buffer
Maximum potential loss reduction the ETF seeks to provide for the Outcome Period.
90.00% / 89.32% 80.21% / 79.69%
Downside Before Buffer
Maximum potential loss the ETF seeks to incur before benefitting from the Buffer for the Remaining Outcome Period.
-10.00% / -10.68% -19.79% / -20.31%
Remaining Outcome Period 708 days 609 days
Fund Price $25.00 $28.05
Fund Return 12.20%
KWEB Return 32.10%

Net values include fees and expenses yet to be incurred in the Outcome Period while gross values exclude fees and expenses. Fund return and current outcome period values assume reinvestment of capital gain distributions, if any. Investors purchasing the fund intra-period will achieve a different defined outcome than those who entered on day one. The cap current value represents the maximum return the fund can achieve at its current price. KWEB may need to rise higher or lower than the current cap before the current cap is realized. If the current buffer is greater than the fund's starting buffer, a portion of the buffer will be realized before the downside before buffer begins. After the downside before buffer has been realized, the final portion of the buffer will begin again.

Premium Discount Chart

Daily Performance

Data as of 05/17/2024
Daily Net Asset Value (NAV) and Market Price
NAV $28.00
NAV Daily Change 0.14%
Market Price $28.05
Market Price Daily Change 0.29%
30 Day Median Bid/Ask Spread
0%

Performance History

Cumulative %
Data as of: 04/30/2024
Fund NAV Closing Price Index
1 Month 2.61% 2.53% 7.08%
3 Month
6 Month
YTD
Since Inception 5.20% 5.40% 14.87%
Cumulative %
Data as of quarter end: 03/31/2024
Fund NAV Closing Price Index
Since Inception 2.52% 2.80% 7.28%

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.

Outcome Period Performance

Data as of 05/17/2024

The Outcome Period Performance chart assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted. This chart is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on market price and represents past performance. Past performance does not guarantee future results. Investors purchasing the fund intra-period will achieve a different defined outcome than those who entered on day one. The current cap value represents the maximum return the fund can achieve at its current price. KWEB may need to rise higher or lower than the current cap before the current cap is realized. If the current buffer is greater than the fund's starting buffer, a portion of the buffer will be realized before the downside before buffer begins. After the downside before buffer has been realized, the final portion of the buffer will begin again.

Top 10 Holdings

Data as of 05/17/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($)
1 KraneShares CSI China Internet ETF 117.53% KWEB US5007673065 ETF 102,000 3,290,520
2 KWEB US 01/16/2026 P21.98 3.32% Option 1,020 92,881
3 Cash 0.05% Cash 1,333 1,333
4 KWEB US 01/16/2026 C34.48 -20.90% Option -1,020 -585,123

Holdings are subject to change.