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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

The KraneShares China Innovation ETF (KGRO) is an active ETF which provides investors with core exposure to the brightest high-growth areas within China's economy by combining "New China" growth sectors. KGRO primarily invests in the following ETFs:

  • The KraneShares CSI China Internet ETF (KWEB)
  • The KraneShares MSCI All China Health Care ETF (KURE)
  • The KraneShares MSCI China Clean Technology ETF (KGRN)
  • KraneShares CICC China 5G & Semiconductor ETF (KFVG)
  • KraneShares SSE STAR Market 50 Index ETF (KSTR)

In addition to investments in these ETFs, KGRO may invest up to 15% of its net assets in the securities of private companies that align with the themes represented by the ETFs or appear to be attractive opportunities, including those that may be preparing for an initial public offering.

China Innovation Highlights:

  • China's internet population reached 989 million people in 2020, a penetration rate of only 70.6%1. The U.S. internet population reached 299 million people, a penetration rate of 85.8%2.
  • China budgeted $360 billion for renewable energy investments from 2017 to 20203 and plans to have renewable energy account for 35% of its electricity consumption by 2030.
  • China is becoming more self-sufficient in semiconductor development largely due to government policies and funding specifically for the industry. As stated in the “Made in China 2025” initiative, China aims to produce 70% of the semiconductors used domestically by 2025 and have complete import substitution by 20304.

1.) Data from Statista and The World Bank as of 12/31/2021
2.) Data from Statista and The World Bank as of 1/27/2021
3. Michael Forsythe, “China Aims to Spend at Least $360 Billion on Renewable Energy by 2020”, The New York Times, 1/5/2017. Retrieved 9/30/2021.
4.) US Chamber of Commerce, “Made in China 2025: Global Ambitions Built on Local Protections”, 2017. Retrieved 12/31/2021.

Fund Details

Data as of 11/28/2023
Ticker KGRO
Primary Exchange NYSE
CUSIP 500767546
ISIN US5007675466
Net Assets $1,388,066
Total Annual Fund Operating Expense 0.97%
Inception Date 10/7/2021
Distribution Frequency Annual

Trending Funds:

KEM

KraneShares Dynamic Emerging Markets Strategy ETF

KEMX

KraneShares MSCI Emerging Markets ex China Index ETF

KLIP

KraneShares China Internet & Covered Call Strategy ETF

KSEA

KraneShares Rockefeller℠ Ocean Engagement ETF

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Daily Performance

Data as of 11/28/2023
Daily Net Asset Value (NAV) and Market Price
NAV $13.88
NAV Daily Change 0.80%
Market Price $13.88
Market Price Daily Change 0.87%
30 Day Median Bid/Ask Spread
0.83%
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

Cumulative %
Data as of: 10/31/2023
Fund NAV Closing Price Index
1 Month -2.84% -2.99% -3.81%
3 Month -15.27% -15.39% -14.22%
6 Month -12.02% -12.04% -12.34%
YTD -12.77% -12.96% -11.52%
Since Inception -40.94% -41.02% -33.21%
Avg Annualized %
Data as of month end: 10/31/2023
Fund NAV Closing Price Index
1 Year 8.61% 8.80% 11.63%
Since Inception -22.45% -22.50% -17.71%
Avg Annualized %
Data as of quarter end: 09/30/2023
Fund NAV Closing Price Index
1 Year 1.27% 1.36% 0.36%
Since Inception -22.17% -22.16% -16.78%

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.

Distribution History

2023 Distributions and Calendar
Ex-Date Record Date Payable Date Amount
12/27/2023 12/28/2023 12/29/2023

Future calendar dates are subject to change. There is no guarantee that dividends will be paid. Past distributions are not indicative of future trends. This material is provided for educational purposes only and does not constitute investment advice.

Distributions are issued to brokers on the payable date, and are subject to broker payment schedules.

2022 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2022 12/30/2022 01/04/2023 1.645461
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/30/2021 12/31/2021 01/05/2022 0.042860

Topics:

Growth of $10,000

Data as of 11/28/2023

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. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 11/28/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 KraneShares CSI China Internet ETF 31.98% KWEB US5007673065 15,695 443,855
2 KraneShares MSCI All China Health Care Index ETF 27.22% KURE US5007678353 20,034 377,799
3 KraneShares MSCI China Clean Technology Index ETF 17.20% KGRN US5007678502 10,183 238,692
4 KraneShares CICC China 5G & Semiconductor Index ETF 13.70% KFVG US5007676118 12,862 190,166
5 KraneShares SSE STAR Market 50 Index ETF 8.94% KSTR US5007676944 9,856 124,048
6 Cash 0.97% – – 13,507 13,507

Holdings are subject to change.

Fund Documents

©2023 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 and summary prospectus, which may be obtained by visiting: www.kraneshares.com. Read the prospectus carefully before investing.

Risk Disclosures:

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate, which may cause the Fund to suffer losses. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the derivative.

The ability of the Fund to achieve its 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 the 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 Fund is subject to political, social or economic instability within China which may cause decline in value. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. The Fund may underperform other similar funds that do not consider conscious company/ESG guidelines when making investment decisions.

The Fund 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. The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt. The Fund may invest in private companies that have not yet issued securities publicly in an initial public offering (“IPO”) (“pre-IPO shares”). Private companies involve greater risks than investments in securities of companies that have traded publicly on an exchange for extended periods of time. Investments in these companies are generally less liquid than investments in securities issued by public companies and may be difficult for the Fund to value.

Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility. KGRO is non-diversified.

ETF 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 and KFA Funds 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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