Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. Our suite of China-focused ETFs provides investors with solutions to capture China’s importance as an essential element of a well-designed investment portfolio. We strive to deliver innovative first-to-market strategies developed based on our strong partnerships and deep investing knowledge. We help investors stay current on global market trends and aim to provide meaningful diversification. Krane Funds Advisors, LLC, is a signatory of the United Nations-supported Principles for Responsible Investing (UN PRI). The firm is majority-owned by China International Capital Corporation (CICC).
January 26, 2023 – Investors Remain Skeptical About Recent Rally in Chinese Stocks, Says KraneShares’ Brendan Ahern
January 18, 2023 – 2023 is the Year of the Consumer in China: KraneShares CEO
January 12, 2023 – KraneShares Launches China Internet Covered Call ETF (Ticker: KLIP) on the New York Stock Exchange
January 11, 2023 – KWEB Can Keep Going Higher, Says Brendan Ahern
Our semi-monthly topical research reports. Subscribe to our weekly mailing list for more.
January 17, 2023 – A Year in Review: Tracking Carbon Price Highs & Lows in 2022 and Major Policy Shifts to Watch for in 2023
January 17, 2023 – A Refined Approach to China: Jessica Chen Weiss on US-China Relations
December 27, 2022 – How to Capture a Potential Rally in China’s Property Bonds
December 19, 2022 – Electrification: 6 Essential Metals to Watch
Information about KraneShares ETFs, China's markets and culture, and general investing resources.
Our market update is a collaboration between the KraneShares internal research department, our local Chinese partners, and select China thought leaders from around the world. Our goal is to deliver a differentiated perspective on Chinese capital markets, business, government, and culture.
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The KraneShares California Carbon Allowance Strategy ETF (KCCA) provides targeted exposure to the California Carbon Allowances (CCA) cap-and-trade carbon allowance program. KCCA is benchmarked to the IHS Markit Carbon CCA Index, which tracks the most traded CCA futures contracts. As a part of the KraneShares suite of carbon ETFs, KCCA provides a new vehicle for participating in the price of carbon and hedging risk while supporting responsible investing and impact investment goals.
*Formerly the KraneShares California Carbon Allowance ETF
1. California Air Resources Board, 2017.
2. Data from Bloomberg as of 8/31/2021.
3. Diversification does not ensure a profit or guarantee against a loss.
4. IHS Markit, 12/31/2020.
Ticker | KCCA |
Primary Exchange | NYSE |
CUSIP | 500767553 |
ISIN | US5007675532 |
Net Assets | $224,996,495 |
Total Annual Fund Operating Expense | 0.78% |
Inception Date | 10/5/2021 |
Distribution Frequency | Annual |
Daily Net Asset Value (NAV) and Market Price | |
NAV | $22.96 |
NAV Daily Change | 0.21% |
Market Price | $22.84 |
Market Price Daily Change | -0.35% |
30 Day Median Bid/Ask Spread |
0.53% |
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. |
NAV | Market Price | Premium/Discount |
$22.96 | $22.84 | $-0.12 |
2022 Full Year | Q1 2023 | |
Days traded at premium | 155 | 9 |
Days traded at NAV | 0 | 0 |
Days traded at discount | 96 | 8 |
The Premium/Discount History chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
Fund NAV | Closing Price | Index | |
1 Month | 6.59% | 6.53% | 6.80% |
3 Month | 5.14% | 5.75% | 5.79% |
6 Month | -10.14% | -10.40% | -7.29% |
Since Inception | -6.97% | -6.85% | -6.55% |
Fund NAV | Closing Price | Index | |
1 Year | -16.73% | -17.54% | -13.99% |
Since Inception | -5.66% | -5.56% | -5.31% |
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.
2022 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/28/2022 | 12/29/2022 | 12/30/2022 | 0.056293 |
2021 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/29/2021 | 12/30/2021 | 12/31/2021 | 0 |
Following a series of positive announcements leading up to the New Year, #China is attempting to turn the page on many of the issues that weighed on its markets recently. Join @ahern_brendan and @Dr_XiaolinChen for a 2023 outlook #webinar.
— KraneShares (@KraneShares) December 28, 2022
Register: https://t.co/RErlX7SMYN$KWEB pic.twitter.com/OyRFsQR0AI
Global #decarbonization efforts are straining the world’s supply of key #metals, creating a unique opportunity for transitional #commodities over the next decade. Read our latest article on the 6 essential metals within our newest #ETF $KMET: https://t.co/oU1CLC3Vri#investing pic.twitter.com/TQvjJvLT8A
— KraneShares (@KraneShares) December 20, 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 $10,000 investment in the fund is hypothetical and for illustration purposes only.
Name | Identifier | Position | Current Exposure ($) | % NAV |
California Carbon Allowance (CCA) Vintage 2023 Future | LUDZ23 Comdty | 7,505 | 223,273,750 | 99.93% |
223,273,750 | 100% |
Name | Identifier | Position | Current Exposure($) | % NAV |
STATE ST INST US GOV | GVMXX | 165,000,000 | 165,000,000 | 73.85% |
USD Cash & Equivalents** | USD | 58,434,818 | 58,434,818 | 26.15% |
223,434,818 | 100% |
Holdings, carbon allowance futures, and collateral are subject to change.
**Includes USD cash deposits & cash in margin accounts ($58,434,818)
Rank | Name | % of Net Assets | Ticker | Identifier | Type | Shares Held | Market Value($) | Notional Value($) |
1 | STATE ST INST US GOV | 73.85% | GVMXX | – | Money Market | 165,000,000 | 165,000,000 | 0 |
2 | Cash | 26.15% | – | – | Cash | 58,434,818 | 58,434,818 | 0 |
3 | CALCARBALLOWV2023 DEC23 | 0.00% | LUDZ23 | – | Future | 7,505 | 0 | 223,273,750 |
Holdings are subject to change.
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