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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KCAI tracks the Quant Insight (Qi) China Alpha Index, which seeks to outperform the CSI 300 Index by applying a systematic machine learning approach. KCAI’s index was developed by its sub-advisor Qi to generate excess returns in China A-Shares through an alpha optimization filtering process combined with proprietary AI technology.

KCAI Features:

  • Long Only: stock selection from the CSI 300 Index universe.
  • Diversified: No individual stock can make up more than 5% of the ETF.
  • Dynamic: Rebalanced monthly using proprietary AI investment decision making technology.

China A-Shares Highlights:

  • China A-Shares are vastly underrepresented in global indexes. While the United States has a weight of 64.70% in the MSCI All Country World Index, China only has a weight of 2.57%.1
  • China A shares have exhibited an unusually low correlation to global markets of less than 0.4 over the past ten years,2 demonstrating the potential diversification* benefits of adding an allocation to China A shares to a global portfolio.
  • The inefficiency of the China A-Shares market makes it a potentially important source of alpha.

1.) Data from MSCI as of 12/31/2023.
2.) Data from MSCI and Bloomberg as of 6/30/2024. Correlation is based on weekly observations of the MSCI China A Index and the MSCI All Country World Index (ACWI).
*Diversification does not ensure a profit or guarantee against a loss.

Fund Details

Data as of 01/16/2025
Ticker KCAI
Primary Exchange NYSE
CUSIP 500767397
ISIN US5007673974
Net Assets $10,656,625
Total Annual Fund Operating Expense 0.79%
Inception Date 08/27/2024
Distribution Frequency Annual
Underlying Index Qi China Alpha Index

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Premium Discount Chart

Daily Performance

Data as of 01/16/2025
Daily Net Asset Value (NAV) and Market Price
NAV $26.64
NAV Daily Change 1.14%
Market Price $26.60
Market Price Daily Change 0.72%
30 Day Median Bid/Ask Spread
0.34%
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: 12/31/2024
Fund NAV Closing Price Underlying Index
1 Month 2.53% 2.07% 2.60%
3 Month -5.95% -4.59% -5.76%
6 Month – – –
YTD – – –
Since Inception 10.57% 10.56% 11.28%
Cumulative %
Data as of quarter end: 12/31/2024
Fund NAV Closing Price Underlying Index
Since Inception 10.57% 10.56% 11.28%

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.

Distribution History

2024 Distributions
Ex-Date Record Date Payable Date Amount
12/17/2024 12/17/2024 12/18/2024 0.194652
12/17/2024 12/18/2024 12/18/2024 0.398069

Topics:

Growth of $10,000

Data as of 01/16/2025

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 01/17/2025 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 SATELLITE CHEM-A 3.25% 002648 CNE100001B07 125,000 345,807
2 ALUMINUM CORP-A 3.23% 601600 CNE1000000T0 323,200 343,553
3 ZHONGJIN GOLD CORP-A 3.19% 600489 CNE000001FM8 189,200 340,090
4 ZIJIN MINING-A 3.19% 601899 CNE100000B24 153,300 339,905
5 SHANDONG GOLD-A 3.13% 600547 CNE000001FR7 100,500 332,950
6 CHINA RESOURCE-A 3.10% 000999 CNE0000011K8 54,000 329,906
7 NAURA TECH GR -A 3.03% 002371 CNE100000ML7 6,100 323,027
8 BANK OF CHENGDU CO LTD-A 3.03% 601838 CNE100002SN6 138,700 322,844
9 BANK OF CHINA LTD-A 3.02% 601988 CNE000001N05 433,500 321,969
10 SHANG PUDONG-A 3.02% 600000 CNE0000011B7 229,800 321,624

Holdings are subject to change.

Fund Documents

©2025 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.

A-Shares are issued by companies in mainland China and traded on local exchanges. They are available to domestic and certain foreign investors, including QFIs and those participating in Stock Connect Programs like Shanghai-Hong Kong and Shenzhen-Hong Kong. Foreign investments in A-Shares face various regulations and restrictions, including limits on asset repatriation. A-Shares may experience frequent trading halts and illiquidity, which can lead to volatility in the Fund’s share price and increased trading halt risks. The Chinese economy is an emerging market, vulnerable to domestic and regional economic and political changes, often showing more volatility than developed markets. Companies face risks from potential government interventions, and the export-driven economy is sensitive to downturns in key trading partners, impacting the Fund. U.S.-China tensions raise concerns over tariffs and trade restrictions, which could harm China’s exports and the Fund. China’s regulatory standards are less stringent than in the U.S., resulting in limited information about issuers. Tax laws are unclear and subject to change, potentially impacting the Fund and leading to unexpected liabilities for foreign investors. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values.

Machine learning is a part of artificial intelligence that creates algorithms to improve from data without explicit programming. The Underlying Index depends on a machine learning model using various inputs, including historical data. If the model fails, the Index and Fund may lose value. Biases or errors in the model or data can lead to poor selections and may not be quickly corrected, harming the Fund. Additionally, machine learning models may overfit historical data and struggle with unexpected market conditions, negatively impacting the Index and the Fund. In addition to the normal risks associated with investing, investments in mid-size companies typically exhibit higher volatility. The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt.

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. KCAI 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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