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KGRO

KraneShares China Innovation ETF

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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 09/23/2022
Ticker KGRO
Primary Exchange NYSE
CUSIP 500767546
ISIN US5007675466
Net Assets $1,508,377
Total Annual Fund Operating Expense 0.64%
Inception Date 10/7/2021
Distribution Frequency Annual

Daily Performance

Data as of 09/23/2022
Premium Discount Chart
NAV
Net Asset Value$15.08 
Daily Change -2.47%
Price
Market Price $15.12 
Daily Change -2.48%
30 Day Median Bid/Ask Spread
 
0.82%

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: 08/31/2022
Fund NAV Closing Price Index
1 Month -2.63% -3.28% -1.61%
3 Month -0.95% -1.61% -2.48%
6 Month -17.61% -17.62% -14.67%
Since Inception -28.75% -28.99% -21.15%
Cumulative %
Data as of quarter end: 06/30/2022
Fund NAV Closing Price Index
Since Inception -18.98% -18.94% -12.82%
Growth of $10,000
Data as of 09/23/2022

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 09/26/2022
Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 KraneShares CSI China Internet ETF 31.32% KWEB US5007673065 18,816 477,926
2 KraneShares MSCI All China Health Care Index ETF 23.14% KURE US5007678353 20,884 353,148
3 KraneShares MSCI China Clean Technology Index ETF 19.88% KGRN US5007678502 10,046 303,389
4 KraneShares CICC China 5G & Semiconductor ETF 14.95% KFVG US5007676118 15,109 228,082
5 KraneShares SSE STAR Market 50 Index ETF 10.61% KSTR US5007676944 11,005 161,884
6 Cash 0.10% 1,532 1,532

Holdings are subject to change.