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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 31% of total global capacity1
  • China budgeted $360 billion for renewable energy investments from 2017 to 20202 and plans to have renewable energy account for 35% of its electricity consumption by 20303
  • 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 space5
  • China has a proven track record of achieving ambitious long term renewable energy goals set forth within The Five Year Plan.

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 2018 Global Status Report (GSR)
2.) Michael Forsythe, “China Aims to Spend at Least $360 Billion on Renewable Energy by 2020”, The New York Times, 1/5/2017. Retrieved 3/31/2019.
3.) Bloomberg, “China Steps Up Its Push Into Clean Energy”, 9/26/2018, retrieved 3/31/2019.
4.) US Energy Information Administration, “What is U.S. electricity generation by energy source?”, 10/29/2018.
5.) UTC, Accelerating the World’s Largest Green Building Market: China. Oct. 4, 2016.

Fund Details

Data as of 03/01/2021
TickerKGRN
Primary ExchangeNYSE
CUSIP500767850
ISINUS5007678502
Net Assets$198,362,080
Total Annual Fund Operating Expense0.79%
Inception Date10/12/2017
Distribution FrequencyAnnual

Fund Documents

Daily Performance

Data as of 03/01/2021
Premium Discount Chart
NAV
Net Asset Value$46.67 
Daily Change4.17%
Price
Market Price$44.97 
Daily Change0.00%
30 Day Median Bid/Ask Spread
Value0.24%

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.

Performance History

Distributions
Cumulative %
Data as of: 02/28/2021		Fund NAVClosing PriceIndex
1 Month-6.82%-6.74%-6.42%
3 Month12.97%12.77%13.18%
6 Month58.76%59.59%58.76%
Since Inception93.97%94.78%88.43%
Avg Annualized %
Data as of month end: 02/28/2021		Fund NAVClosing PriceIndex
1 Year134.94% 132.66%124.18%
3 Year24.90%25.04%23.52%
Since Inception21.62% 21.77%20.59%
Avg Annualized %
Data as of quarter end: 12/31/2020		Fund NAVClosing PriceIndex
1 Year136.07%138.59%123.85%
3 Year22.97%23.20%21.54%
Since Inception22.12% 22.33%20.78%
Growth of $10,000
Data as of 02/26/2021

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.

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 03/01/2021
Full Holdings .CSV
RankCompany Name% of Net AssetsTickerIdentifierShares HeldMarket Value($)
1NIO INC - ADR8.67%NIOUS62914V1061345,44617,189,393
2CONTEMPORARY A-A8.54%300750CNE100003662317,75016,932,515
3XINYI SOLAR HOLDINGS LTD8.39%968KYG9829N10257,561,58816,630,444
4BYD CO LTD-H6.89%1211CNE100000296497,50013,661,063
5CONCH VENTURE4.97%586KYG2116J10852,211,5009,850,240
6CHINA EVERGRANDE GROUP4.86%3333KYG2119W10694,746,0009,642,636
7SHIMAO GROUP HOLDINGS LTD4.77%813KYG8104310423,019,0009,457,605
8LONGI GREEN EN-A4.61%601012CNE100001FR6540,7249,148,572
9GCL-POLY ENERGY4.41%3800KYG3774X108822,161,0008,742,237
10XPENG INC - ADR4.10%XPEVUS98422D1054229,0238,130,317

Holdings are subject to change.

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©2021 Krane Funds Advisors, LLC
280 Park Avenue, 32nd Floor, New York, NY 10017

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, KURE, KFYP, KGRN, KALL, KCNY, KCCB, OBOR, KARS, KEMQ, KMED, KEMX, KESG, KFVG, KBUY, KSTR. Read the prospectus carefully before investing. Please note these links also contain the Funds' top ten holdings, performance, and other important information.

Risk Disclosures:

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives.

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. The funds may invest in derivatives, which are often more volatile than other investments and may magnify the Funds' gains or losses.

Narrowly focused investments typically exhibit higher volatility. The Funds' assets are expected to be concentrated in an industry or group of industries to the extent that the Underlying Index concentrates in a particular industry or group of industries. The securities of companies in an industry or group of industries could react similarly to market developments. Thus, the Funds are subject to loss due to adverse occurrences that affect one industry or group of industries or sector. KWEB, KURE, KFYP, KGRN, KCNY, KCCB, OBOR, KARS, KEMQ, KMED, KESG, KFVG, KBUY, and KSTR are non-diversified.

The ability of KBA, KALL, OBOR, KEMQ, KARS, KURE, KMED, KBUY, KSTR, and KESG 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.

KCNY and KCCB are 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 these Funds 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 Funds may invest in high yield and unrated securities, whose prices are generally more sensitive to adverse economic changes and consequently more volatile.

KCCB invests in perpetual bonds, which offer fixed return with no maturity date. Perpetual bonds can be more volatile than other types of bonds that have a maturity date and may be more sensitive to changes to interest rates.The Fund depends on the CIBM Program to invest directly in RMB Bonds. There is no guarantee the Fund will be able to continue to participate in the program.

KGRN and KESG may underperform other similar funds that do not consider conscious company/ESG guidelines when making investment decisions.

KSTR may invest in Initial Public Offerings (IPOs). Securities issued in IPOs have no trading history, and information about the companies may be available for very limited periods. In addition, the prices of securities sold in IPOs may be highly volatile. In addition, as the Fund increases in size, the impact of IPOs on the Fund’s performance will generally decrease.

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

Fund shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

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 Funds, or any sub-advisers for the Funds.

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