Growth of $10,000


Fund Documents


Investment Strategy:

KFYP tracks the CSI CICC Select 100 Index, which takes a smart-beta1 approach to systematically invest in companies listed in Mainland China. The strategy is based on China International Capital Corporation (CICC)’s latest research on China’s capital markets. This quantitative approach reflects CICC’s top down and bottom up research process, seeking to deliver the 100 leading companies in Mainland China.

KFYP Features:

  • Smart beta strategy which seeks to deliver cost effective alpha2.
  • Exposure to the top 100 industry leaders within China’s Mainland A-share market identified through the CICC Research team’s quantitative methodology.
  • Seeks to provide exposure to performance leaders through a Return on Equity (ROE)3 filter which is further refined through bottom-line growth and valuation criteria.

About CICC & CICC Research:

  • CICC is a leading, publicly traded, Chinese financial services company with expertise in research, asset management, investment banking, private equity and wealth management.
  • In 2020, the CICC Research Team ranked #1 in Institutional Investor’s All-China Research Team (Analyst Leaders) for the nineth year in a row.4
  • CICC has over 200 branches across Mainland China, with offices in Hong Kong, Singapore, New York, San Francisco, and London.

*Formerly the KraneShares Zacks New China ETF

1. Smart beta is an investment style where a manager passively follows an index designed to take advantage of perceived systematic biases or inefficiencies in the market.
2. Alpha is the active return on an investment, gauges the performance of an investment against a market index or benchmark which is considered to represent the market's movement as a whole.
3. Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
4., “CICC Secures Big in All-China Research Team Awards 2020”, 12/16/2020, retrieved on 9/30/2021.

Premium Discount Chart

Daily Performance

Data as of 03/23/2023
Daily Net Asset Value (NAV) and Market Price
NAV $24.24
NAV Daily Change 1.55%
Market Price $24.19
Market Price Daily Change 1.51%
30 Day Median Bid/Ask Spread

Performance History

Cumulative %
Data as of: 02/28/2023
Fund NAV Closing Price Index
1 Month -3.53% -3.69% -3.40%
3 Month 4.00% 2.64% 5.48%
6 Month -0.34% 0.71% 0.24%
Since Inception 91.88% 92.28% 97.74%
Avg Annualized %
Data as of month end: 02/28/2023
Fund NAV Closing Price Index
1 Year -17.18% -17.13% -16.67%
3 Year 2.38% 2.68% 4.02%
5 Year 0.11% 0.74% 1.22%
Since Inception 7.02% 7.04% 7.35%
Avg Annualized %
Data as of quarter end: 12/31/2022
Fund NAV Closing Price Index
1 Year -19.62% -19.84% -19.79%
3 Year -1.29% -1.55% 0.03%
5 Year -0.66% -0.66% 0.53%
Since Inception 6.73% 6.68% 6.97%

The Hybrid KFYP Index (noted as “Index” above in the chart) consists of the CSI China Overseas Five Year Plan Index from the inception of the Fund through June 1, 2016, and the Zacks New China Index after June 1, 2016 through November 1, 2018, and the China Leader’s 100 Index after November 1, 2018.

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.

Growth of $10,000

Data as of 03/23/2023

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.

Top 10 Holdings

Data as of 03/24/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 MIDEA GROUP CO LTD-A 5.47% 000333 CNE100001QQ5 43,000 326,143
2 CHINA MERCHANTS BANK-A 5.37% 600036 CNE000001B33 63,900 320,349
3 GREE ELECTRIC-A 5.02% 000651 CNE0000001D4 55,800 299,485
4 INDUSTRIAL BANK CO LTD -A 4.88% 601166 CNE000001QZ7 119,100 290,997
5 IND & COMM BK OF CHINA-A 4.78% 601398 CNE000001P37 436,800 284,935
6 BANK OF COMMUN-A 4.25% 601328 CNE1000000S2 340,400 253,277
7 CHINA STATE -A 3.77% 601668 CNE100000F46 260,900 224,896
8 PING AN BANK CO LTD-A 3.74% 000001 CNE000000040 119,500 223,070
9 CHINA VANKE CO LTD -A 3.26% 000002 CNE0000000T2 84,300 194,064
10 TONGWEI CO LTD-A 3.19% 600438 CNE000001GS3 33,400 189,912

Holdings are subject to change.