KCCB

KraneShares CCBS China Corporate High Yield Bond USD Index ETF

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Investment Strategy:

KCCB seeks to provide investment results that, before fees and expenses, track the price and yield performance of the Solactive USD China Corporate High Yield Bond Index. The Index seeks to track the performance of outstanding high yield debt securities denominated in U.S. dollars issued by Chinese companies.

USD China Corporate High Yield Bond Market Features:

  • As dollar investors seek yield globally, the U.S. Dollar China Corporate High Yield Bond Market has grown considerably to meet investor demand.
  • Since 2014, China has accounted for more than half of all new annual USD Bond issuance in Asia.1
  • The total value of Chinese USD denominated high yield bonds increased over 300% from 2017 to 2018, and the number of issuing companies increased by almost 150% over the same period.2
  • By the end of 2018, the total USD China Corporate High Yield Bond market size reached $232 billion USD with over 250 issuing companies.2

KCCB Features

    • USD-denominated exposure to China’s high yield bond market.
    • Low correlation to U.S. and global markets.
    • Co-managed by China Construction Bank (CCB), the second largest bank in the world by assets.3

1.) Data from Bloomberg as of 12/31/17. Retrieved on 3/31/2019.
2.) Data from Bloomberg as of 3/31/2019.
3.) Global Finance, “Biggest Banks In The World 2018”, 11/1/2018, retrieved 3/31/2019.

Fund Details

Data as of 07/19/2019
TickerKCCB
Primary ExchangeNYSE
CUSIP500767843
ISINUS5007678437
Net Assets$12,272,177
Total Annual Fund Operating Expense0.69%
Inception Date6/28/2018
Distribution FrequencyMonthly

Daily Performance

Data as of 07/19/2019
Premium Discount Chart
NAV
Net Asset Value$40.91 
Daily Change-0.02%
Price
Closing Price$40.99 
Daily Change-0.10%

Performance History

Distributions
Cumulative %
Data as of: 06/30/2019
Fund NAVClosing PriceIndex
1 Month0.85%0.82%1.14%
3 Month1.38%1.36%1.89%
6 Month6.78%6.43%10.19%
Since Inception7.18%7.43%10.90%
Avg Annualized %
Data as of quarter end: 06/30/2019
Fund NAVClosing PriceIndex
1 Year8.02%7.94%11.49%
Since Inception7.10% 7.35%10.78%

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.

KCCB Key Metrics

Data as of 06/30/2019
Duration7.82 yrs
Current Yield4.87%
30-day SEC Yield5.13%
Unsubsidized 30-day SEC Yield5.13%

Top 10 Holdings

Data as of 07/19/2019
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerShares HeldMarket Value($)
1
CKINF 5 7/8 PERP
4.15%500,000509,500
2
COGARD 8 01/27/24
3.53%400,000433,066
3
CCB 4.65 PERP
3.29%400,000404,080
4
CNREFI 3 3/8 03/09/22
3.25%400,000399,065
5
EVERRE 7 1/2 06/28/23
2.95%400,000361,769
6
NANYAN 5 PERP
2.79%350,000342,193
7
SHIMAO 6 1/8 02/21/24
2.56%300,000314,300
8
BOCOM 5 12/29/49
2.47%300,000303,090
9
ICBCAS 6 PERP
2.46%300,000302,336
10
HAOHUA 5 05/05/20
2.46%300,000302,322

Holdings are subject to change.