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KGRN

KraneShares MSCI China Environment ETF

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Investment Strategy:

KGRN seeks to track the performance of the MSCI China IMI Environment 10/40 Index. The Index is comprised of securities that derive at least 50% of their revenues from environmentally beneficial products and services. The Index is based on five key Clean Technology environmental themes: Alternative Energy, Sustainable Water, Green Building, Pollution Prevention and Energy Efficiency. The Index aims to serve as a benchmark for investors seeking exposure to Chinese companies that focus on contributing to a more environmentally sustainable economy by making efficient use of scarce natural resources or by mitigating the impact of environmental degradation. Constituent selection is based on data from MSCI Environment, Social, and Governance (ESG).

China’s Environmental Protection Highlights:

  • China is the world leader in total renewable energy capacity, at 28% of total global capacity1
  • China’s goal is to spend $360 billion on renewable energy2 and achieve 50% commercial green building certification by 20203
  • Meeting these standards would create as much new renewable energy capacity as the entire US electricity system4, and China would represent half of the world’s green building floor space3

KGRN Features:

  • Access to China’s fast-growing environmental protection industry that has rapidly become the largest renewable energy market in the world1
  • Exposure to companies that stand to benefit from China’s increased focus and spending on clean energy technologies
  • Benchmarked to an MSCI ESG Index: MSCI is the #1 index provider for Socially Responsible Investment (SRI), Corporate governance, and ESG indexes according to a 2015 survey of 1,200 participants conducted by SRI Connect and Extel.

1.) REN21’s Renewables 2017 Global Status Report (GSR) pg 166
2.) Michael Forsythe, “China Aims to Spend at Least $360 Billion on Renewable Energy by 2020”, The New York Times, 1/5/2017. Retrieved 7/21/2017.
3.) UTC, "Accelerating the World’s Largest Green Building Market: China." Oct. 4, 2016
4.) Barbara Finamore, "Paris Climate Agreement Explained", National Resource Defense Council, Dec. 12, 2015

Fund Details

Data as of 05/25/2018
TickerKGRN
Primary ExchangeNYSE
CUSIP500767850
ISINUS5007678502
Net Assets$8,538,557
Total Annual Fund Operating Expense (Gross) 0.80%
Total Annual Fund Operating Expense (Net) 0.79%*
Inception Date10/12/2017
Distribution FrequencySemiannually

Fund Documents

Daily Performance

Data as of 05/25/2018
Premium Discount Chart
NAV
Net Asset Value$24.40 
Daily Change -1.55%
Price
Closing Price $24.57 
Daily Change-1.48%

Performance History

Distributions
Cumulative %
Data as of: 04/30/2018		 Fund NAVClosing PriceIndex
1 Month3.90%1.69%3.24%
3 Month-6.45%-7.64%-6.87%
6 Month-2.17%-3.41%-2.27%
Since Inception-0.84%-1.40%-1.21%
Cumulative %
Data as of quarter end: 03/31/2018		 Fund NAVClosing PriceIndex
Since Inception-4.56% -3.04%-4.31%

*Fee waivers are contractual and in effect until 7/31/18

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.

Top 10 Holdings

Data as of 05/25/2018
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerShares HeldMarket Value($)
1
CHINA EVERBRIGHT INTL LTD
9.25%257 HK533,900789,370
2
BEIJING ENTERPRISES WATER
8.88%371 HK1,234,500758,405
3
CHINA VANKE CO LTD-H
7.73%2202 HK174,900659,849
4
GCL-POLY ENERGY HOLDINGS
7.68%3800 HK5,529,000655,379
5
SHUI ON LAND LTD
5.07%272 HK1,459,000433,285
6
XINYI SOLAR HOLDINGS LTD
5%968 HK952,000427,113
7
HUANENG RENEWABLES CORP-H
4.99%958 HK1,086,000426,327
8
TIANNENG POWER INTL LTD
4.69%819 HK271,885400,595
9
CHINA LONGYUAN POWER GROU
4.68%916 HK471,800399,892
10
CASH
3.66%–312,319312,319

Holdings are subject to change.

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©2018 Krane Funds Advisors, LLC
1270 Ave of the Americas, Suite 2217, New York, NY 10020

Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds' full & summary prospectus, which may be obtained here: KWEB, KBA, OBOR, KGRN, KARS, KURE, KEMQ, KCNY, KFYP, KEMP Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. ETF shares are not redeemable with the issuing fund other than in large Creation Unit aggregations. Instead, investors must buy or sell ETF Shares in the secondary market with the assistance of a stockbroker. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling. The NAV of the Fund’s shares is calculated each day the national securities exchanges are open for trading as of the close of regular trading on the New York Stock Exchange (“NYSE”), normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). Shares are bought and sold at market price (closing price) not NAV. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined).

The Funds are subject to political, social or economic instability within China which may cause decline in value. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume.

Narrowly focused investments typically exhibit higher volatility. Internet companies are subject to rapid changes in technology, worldwide competition, rapid obsolescence of products and services, loss of patent protections, evolving industry standards and frequent new product productions. Such changes may have an adverse impact on performance. Technology companies may be subject to severe competition and rapid obsolescence. The KraneShares CSI China Internet ETF, the KraneShares MSCI One Belt One Road ETF, the KraneShares Zacks New China ETF, the KraneShares Emerging Markets Consumer Technology ETF, the KraneShares MSCI China Environment ETF, the KraneShares Electric Vechicles and Future Mobility Index ETF, and the KraneShares MSCI All China Health Care Index ETF are non-diversified.

The ability of the KraneShares Bosera MSCI China A ETF, the KraneShares FTSE Emerging Markets Plus ETF, the KraneShares MSCI One Belt One Road ETF, the KraneShares Emerging Markets Consumer Technology ETF, the KraneShares Electric Vechicles and Future Mobility Index ETF, and the KraneShares MSCI All China Health Care Index ETF to achieve their respective investment objectives is dependent, in part, on the continuous availability of A Shares and the ability to obtain, if necessary, additional A Shares quota. If a Fund is unable to obtain sufficient exposure to limited availability of A Share quota, the Fund could seek exposure to the component securities of the Underlying Index by investment in other types of securities. The funds may in invest in derivatives, which are often more volatile than other investments and may magnify the Funds’ gains or losses.

The KraneShares E Fund China Commercial Paper ETF is subject to interest rate risk, which is the chance that bonds will decline in value as interest rates rise. The components of the securities held by the Fund will be rated by Chinese credit rating agencies, which may use different criteria and methodology than U.S. entities or international credit rating agencies. The Fund may invest in high yield and unrated securities, whose prices are generally more sensitive to adverse economic changes and consequently more volatile. The Fund is subject to industry concentration risk and is non-diversified. Narrowly focused investments typically exhibit higher volatility.

The KraneShares MSCI All China Health Care Index ETF invests primarily in the health care industry. The profitability of companies in the healthcare sector may be affected by government regulations and government healthcare programs, government reimbursement for medical expenses, increases or decreases in the cost of medical products and services, limited product lines, increased emphasis on the delivery of healthcare through outpatient services and product liability claims. Many healthcare companies are heavily dependent on patent protection, which may be time consuming and costly, and the expiration of a company’s patent may adversely affect that company’s profitability. Healthcare companies are subject to competitive forces that may result in pricing pressure, including price discounting, and may be thinly capitalized and susceptible to product obsolescence. Many new products in the healthcare sector require significant research and development and may be subject to regulatory approvals, which may be time consuming and costly and with no guarantee that the product will come to market.

Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

The KraneShares 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 Fund.

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