Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KHYB is an active ETF managed by sub-advisor Nikko Asset Management Americas, Inc. (“Nikko”). KHYB is benchmarked to the JP Morgan Asia Credit Index (JACI) Non-Investment Grade Corporate Index. The fund provides exposure to USD-denominated high yield debt securities issued by companies in Asia.

Asia Bond Market Features:

  • The Asia Bond Market has witnessed steady growth over the last decade. The JP Morgan Asia Credit Index grew from a market capitalization of $257 billion in 2010 to $968 billion in December 2022, an increase of 276%.1
  • The Asia high yield bond market currently offers higher yields than other global high yield bond markets. As of December 2022, Asia high yield bonds had a yield of 12.8% compared to 8.8% for US high yield bonds.2
  • The default rate of Asia high-yield corporate bonds has been lower than that of high yield bonds in other emerging market regions in six of the past eleven years and was lower than the US high yield default rate in both 2019 and 2020.3

KHYB Features:

    • Sub-advised by Nikko. Nikko was established in 1959 and is one of Asia's largest asset managers with over $200 billion in assets under management. Nikko is a leader in Asia fixed income with 30+ years of experience in the market.4
    • KHYB portfolio manager Wai Hoong Leong is supported by one of the largest Asia fixed income teams. His team uses top-down macro research and bottom-up credit research to construct the Fund’s portfolio.
    • The portfolio management team uses a proprietary process that involves both quantitative and qualitative factors, the team assesses an issuer’s credit profile, security value, and relative value compared to other similar securities.

    *Formerly the KraneShares Asia Pacific High Yield Bond ETF, and prior to August 2, 2021, the KraneShares CCBS China Corporate High Yield Bond USD Index ETF (ticker: KCCB)

    1.) Data from JP Morgan as of 12/31/2022.
    2.) Data from JP Morgan and St. Louis Federal Reserve as of 12/31/2022. Asia high yield bond market represented by the Bloomberg Barclays Asia USD High Yield Diversified Credit Index. US high yield bond market represented by the ICE BofA US High Yield Index.
    3.) Data from JP Morgan as of December, 2022.
    4.) Data from Nikko Asset Management as of 12/31/2022.

    KHYB Yield Metrics

    Data as of 06/17/2024
    30-day SEC Yield 7.14%

    30-day SEC Yield (Subsidized/Unsubsidized) is a standard yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that allows for fairer comparisons of bond funds. It is based on the most recent 30-day period covered by the fund's filings with the SEC. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.

Premium Discount Chart

Daily Performance

Data as of 06/17/2024
Daily Net Asset Value (NAV) and Market Price
NAV $24.83
NAV Daily Change -0.08%
Market Price $24.88
Market Price Daily Change 0.00%
30 Day Median Bid/Ask Spread
0.12%

Performance History

Cumulative %
Data as of: 05/31/2024
Fund NAV Closing Price Index
1 Month 1.87% 2.37% 2.86%
3 Month 2.25% 2.62% 3.32%
6 Month 8.27% 8.68% 10.45%
YTD 6.13% 6.52% 8.16%
Since Inception -0.79% -0.55% -2.39%
Avg Annualized %
Data as of month end: 05/31/2024
Fund NAV Closing Price Index
1 Year 11.44% 11.68% 10.90%
3 Year -4.85% -4.95% -6.66%
5 Year -1.37% -1.37% -2.30%
Since Inception -0.13% -0.09% -0.41%
Avg Annualized %
Data as of quarter end: 03/31/2024
Fund NAV Closing Price Index
1 Year 6.81% 6.58% 3.35%
3 Year -5.14% -5.10% -7.00%
5 Year -1.59% -1.66% -2.59%
Since Inception -0.42% -0.44% -0.80%

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

2024 Distributions and Calendar
Ex-Date Record Date Payable Date Amount
01/29/2024 01/30/2024 01/31/2024 0.159081
02/27/2024 02/28/2024 02/29/2024 0.161360
03/26/2024 03/27/2024 03/28/2024 0.160709
04/26/2024 04/29/2024 04/30/2024 0.159577
05/30/2024 05/30/2024 05/31/2024 0.207273
06/26/2024 06/27/2024 06/28/2024
07/29/2024 07/30/2024 07/31/2024
08/28/2024 08/29/2024 08/30/2024
09/26/2024 09/27/2024 09/30/2024
10/29/2024 10/30/2024 10/31/2024
11/26/2024 11/27/2024 11/29/2024

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.

2023 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2023 01/30/2023 01/31/2023 0.181899
02/24/2023 02/27/2023 02/28/2023 0.176641
03/29/2023 03/30/2023 03/31/2023 0.172919
04/26/2023 04/27/2023 04/28/2023 0.174422
05/26/2023 05/30/2023 05/31/2023 0.167946
06/28/2023 06/29/2023 06/30/2023 0.171138
07/27/2023 07/28/2023 07/31/2023 0.166064
08/29/2023 08/30/2023 08/31/2023 0.172842
09/27/2023 09/28/2023 09/29/2023 0.176548
10/27/2023 10/30/2023 10/31/2023 0.160806
11/28/2023 11/29/2023 11/30/2023 0.165937
12/18/2023 12/19/2023 12/20/2023 1.854764
2022 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2022 01/28/2022 01/31/2022 0.198110
02/24/2022 02/25/2022 02/28/2022 0.202879
03/29/2022 03/30/2022 03/31/2022 0.200433
04/27/2022 04/28/2022 04/29/2022 0.190081
05/26/2022 05/27/2022 05/31/2022 0.186916
06/28/2022 06/29/2022 06/30/2022 0.179447
07/27/2022 07/28/2022 07/29/2022 0.171634
08/29/2022 08/26/2022 08/31/2022 0.207989
09/28/2022 09/29/2022 09/30/2022 0.172385
10/27/2022 10/28/2022 10/31/2022 0.157662
11/28/2022 11/29/2022 11/30/2022 0.165913
12/28/2022 12/29/2022 12/30/2022 0.571545
2021 Distributions
Ex-Date Record Date Payable Date Amount
01/27/2021 01/28/2021 01/29/2021 0.157554
02/24/2021 02/25/2021 02/26/2021 0.157527
03/29/2021 03/20/2021 03/31/2021 0.157356
04/28/2021 04/29/2021 04/30/2021 0.156503
05/26/2021 05/27/2021 05/28/2021 0.156990
06/28/2021 06/29/2021 06/30/2021 0.156028
07/28/2021 07/29/2021 07/30/2021 0.154232
08/27/2021 08/30/2021 08/31/2021 0.153619
09/28/2021 09/29/2021 09/30/2021 0.149103
10/27/2021 10/28/2021 10/29/2021 0.219858
11/26/2021 11/29/2021 11/30/2021 0.214725
12/29/2021 12/30/2021 12/31/2021 0.212902
2020 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2020 01/30/2020 01/31/2020 0.164463
02/26/2020 02/27/2020 02/28/2020 0.163252
03/27/2020 03/30/2020 03/31/2020 0.147186
04/28/2020 04/29/2020 04/30/2020 0.152949
05/27/2020 05/28/2020 05/29/2020 0.156241
06/26/2020 06/29/2020 06/30/2020 0.158834
07/29/2020 07/30/2020 07/31/2020 0.160854
08/27/2020 08/28/2020 08/31/2020 0.161943
09/28/2020 09/29/2020 09/30/2020 0.161029
10/28/2020 10/29/2020 10/30/2020 0.160386
11/25/2020 11/27/2020 11/30/2020 0.159669
12/29/2020 12/30/2020 12/31/2020 0.836146
12/30/2020 12/30/2020 12/31/2020 0.142724

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2019 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2019 01/30/2019 01/31/2019 0.158701
02/26/2019 02/27/2019 02/28/2019 0.160731
03/27/2019 03/28/2019 03/29/2019 0.163395
04/26/2019 04/29/2019 04/30/2019 0.163267
05/29/2019 05/30/2019 05/31/2019 0.162855
06/26/2019 06/27/2019 06/28/2019 0.163633
07/29/2019 07/30/2019 07/31/2019 0.163654
08/28/2019 08/29/2019 08/30/2019 0.162868
09/26/2019 09/27/2019 09/30/2019 0.162766
10/29/2019 10/30/2019 10/31/2019 0.163367
11/26/2019 11/27/2019 11/29/2019 0.163449
12/26/2019 12/26/2019 12/31/2019 0.193825
12/27/2019 12/30/2019 12/31/2019 0.029864
12/30/2019 12/30/2019 12/31/2019 0.193825
2018 Distributions
Ex-Date Record Date Payable Date Amount
07/30/2018 07/27/2018 07/31/2018 0.158498
08/29/2018 08/30/2018 08/31/2018 0.159647
09/26/2018 09/27/2018 09/28/2018 0.159582
10/29/2018 10/30/2018 10/31/2018 0.157894
11/28/2018 11/29/2018 11/30/2018 0.155745
12/24/2018 12/24/2018 12/28/2018 0.001580
12/26/2018 12/27/2018 12/28/2018 0.058243
12/27/2018 12/28/2018 12/31/2018 0.157226

Growth of $10,000

Data as of 06/17/2024

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 06/18/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 Cash 3.61% 582,513 582,513
2 ACMSOL 4.7 08/10/26 3.51% USV4606AAA17 596,750 567,136
3 PINGRE 2 3/4 07/29/24 3.05% XS2368566746 500,000 493,165
4 MONDFI 5 1/8 05/07/29 2.49% USN6000DAA11 421,640 401,678
5 PCORPM 5.95 PERP 2.40% XS2330597738 400,000 386,997
6 FOSUNI 5.95 10/19/25 2.38% XS2238561794 400,000 385,248
7 YLLGSP 5 1/8 05/20/26 2.38% XS2317279573 450,000 384,750
8 HEXWIN 5 3/8 10/31/26 2.37% USV1541CAA19 400,000 382,466
9 GRNCH 5.65 07/13/25 2.35% XS2193529562 400,000 379,312
10 GLPSP 3 7/8 06/04/25 2.32% XS1242348164 400,000 374,175

Holdings are subject to change.