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.

Premium Discount Chart

Daily Performance

Data as of 06/20/2025
Daily Net Asset Value (NAV) and Market Price
NAV $29.48
NAV Daily Change 0.17%
Market Price $29.49
Market Price Daily Change 0.37%
30 Day Median Bid/Ask Spread
0.4%

Performance History

Cumulative %
Data as of: 05/31/2025
Fund NAV Closing Price Underlying Index
1 Month 4.57% 4.16% 4.75%
3 Month 3.48% 2.91% 3.67%
6 Month 4.95% 3.95% 5.26%
YTD 2.37% 1.85% 2.60%
Since Inception 13.18% 12.60% 14.17%
Cumulative %
Data as of quarter end: 03/31/2025
Fund NAV Closing Price Underlying Index
Since Inception 11.02% 10.93% 11.78%

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

2025 Distributions and Calendar
Ex-Date Record Date Payable Date Amount
12/30/2025 12/30/2025 12/31/2025

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.

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

Growth of $10,000

Data as of 06/20/2025

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 06/23/2025 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 ZHONGJI INNOLI-A 3.96% 300308 CNE100001CY9 23,100 408,792
2 EOPTOLINK TECH-A 3.54% 300502 CNE100002615 24,500 365,985
3 WUS PRINTED-A 3.50% 2463 CNE100000SP5 61,100 361,158
4 ZANGGE MINING CO LTD-A 3.28% 000408 CNE000000L08 59,400 339,199
5 HUAXIA BANK CO LTD-A 3.22% 600015 CNE000001FW7 286,500 332,314
6 BANK OF BEIJING CO LTD -A 3.21% 601169 CNE100000734 342,500 330,978
7 LUXSHARE PRECI-A 3.17% 002475 CNE100000TP3 70,900 327,667
8 BANK OF JIANGSU CO LTD-A 3.16% 600919 CNE100002G76 196,500 326,424
9 GUOTAI HAITONG S 3.12% 601211 CNE1000022F3 125,500 322,243
10 FOXCONN INDUST-A 3.10% 601138 CNE1000031P3 113,900 320,372

Holdings are subject to change.