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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

The KraneShares China Internet & Covered Call Strategy ETF (ticker: KLIP) follows a “covered call” or “buy-write” strategy. KLIP buys shares of the KraneShares CSI China Internet ETF (ticker: KWEB) and “writes” or “sells” corresponding call options on KWEB. Both KLIP and KWEB are benchmarked to the CSI Overseas China Internet Index, which tracks the performance of the investable universe of publicly traded China-based companies in the Internet sector. KLIP can generate option income.

Covered Call ETF Features:

  • A covered call ETF is an exchange-traded fund that generates option income by writing options on stocks or ETFs.
  • Covered call ETFs manage the options exposure for investors, which can be more economical and time efficient than buying individual stock options.
  • Writing covered calls may produce higher yields during periods of market volatility.

KLIP Features:

  • KLIP sells covered call options on KWEB, an established ETF with a deep options market.
  • KWEB provides exposure to the China internet sector, which has historically been more volatile than the US internet / technology sector. KLIP has the potential to provide higher yields than covered call strategies based on the US and other markets.
  • Combining allocations to both KLIP and KWEB can help produce a targeted growth and option income strategy by maintaining upside while trading performance uncertainty for more stable distributions.
  • KLIP provides monthly distributions.

KLIP Yield Metrics

Data as of 09/12/2024
Distribution Rate 37.66%
Distribution Frequency Monthly
30-day SEC Yield 0.04%

This material must be preceded or accompanied by a current prospectus. Investors should read it carefully before investing or sending money.

Distribution Rate is the annualized payout, expressed as a percentage of NAV, that an investor would receive, assuming that the latest monthly distribution remained the same over the next twelve (12) months. Distribution Rate may include return of capital, ordinary dividends, or capital gain. Distributions may coincide with a decline in NAV. The Distribution Rate is representative of a single distribution and does not indicate total return. Future distributions may differ significantly from the latest distribution and are not guaranteed. For the Fund’s fiscal year to date, please refer here for the 19a Notice with a breakdown of each monthly distribution. Please note the Fund’s distributions have mainly been classified as return of capital for the purposes of the 19a Notice because option income is excluded from the 19a net investment income calculation.

For questions about KLIP distributions, please refer to the FAQ.

30-day SEC Yield is a standardized yield calculation used to compare the yield of mutual funds, exchange-traded funds (ETFs), and other investment options. It represents the yield an investor would receive in the form of interest or dividends over the course of a 30-day period, assuming that dividends and interest are reinvested. ​

Fund Details

Data as of 09/12/2024
Ticker KLIP
Primary Exchange NYSE
CUSIP 500767470
ISIN US5007674709
Net Assets $138,375,155
Total Annual Fund Operating Expense 0.93%
Inception Date 1/11/2023
Distribution Frequency Monthly
BBSMI
Broad-Based Securities Market Index – a broad-based index that represents the overall applicable domestic, international equity, or debt market, as appropriate.
MSCI China All Shares Index
Underlying Index N/A Active

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Daily Performance

Data as of 09/12/2024
Daily Net Asset Value (NAV) and Market Price
NAV $12.25
NAV Daily Change 0.08%
Market Price $12.25
Market Price Daily Change 0.16%
30 Day Median Bid/Ask Spread
0.08%
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: 08/31/2024
Fund NAV Closing Price BBSMI
1 Month 0.03% 0.34% -0.02%
3 Month -3.79% -3.65% -3.18%
6 Month 3.21% 3.00% 3.28%
YTD 0.22% 0.15% 1.54%
Since Inception 9.36% 9.32% -17.43%
Avg Annualized %
Data as of month end: 08/31/2024
Fund NAV Closing Price BBSMI
1 Year 7.13% 7.41% -4.71%
Since Inception 5.61% 5.59% -11.03%
Avg Annualized %
Data as of quarter end: 06/30/2024
Fund NAV Closing Price BBSMI
1 Year 12.45% 11.72% -4.39%
Since Inception 5.89% 5.64% -11.79%

Broad-Based Securities Market Index (BBSMI) is a broad-based index that represents the overall applicable domestic, international equity, or debt market, as appropriate.

MSCI China All Shares Index (Net Total Return): The MSCI China All Shares Index captures large and mid-cap representation across China A‐shares, B‐shares, H‐shares, Red‐chips, P‐chips and foreign listings (e.g. ADRs). The index aims to reflect the opportunity set of China share classes listed in Hong Kong, Shanghai, Shenzhen and outside of China. It is based on the concept of the integrated MSCI China equity universe with China A-shares included. The index was launched on June 26, 2014.

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 Monthly Distribution (%)* Amount
01/29/2024 01/30/2024 01/31/2024 3.70% 0.572576
02/27/2024 02/28/2024 02/29/2024 4.06% 0.616754
03/26/2024 03/27/2024 03/28/2024 4.06% 0.611927
04/26/2024 04/29/2024 04/30/2024 3.51% 0.527163
05/30/2024 05/30/2024 05/31/2024 3.50% 0.507881
06/27/2024 06/27/2024 06/28/2024 3.35% 0.459931
07/30/2024 07/30/2024 07/31/2024 3.10% 0.401501
08/29/2024 08/29/2024 08/30/2024 3.11% 0.379142
09/27/2024 09/27/2024 09/30/2024
10/30/2024 10/30/2024 10/31/2024
11/27/2024 11/27/2024 11/29/2024
12/30/2024 12/30/2024 12/31/2024

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.

Monthly Distribution is the amount paid out by the fund as a distribution expressed as a percentage of the fund’s NAV as of the market close on the day prior to the ex-date. Distribution levels may vary month-to-month and no minimum distribution amount can be guaranteed. Past performance does not guarantee future results​.

*T-10 and T-5 refer to distribution estimate ranges provided 10 and 5 business days before the Payable Date, respectively.
Market conditions, portfolio changes and/or changes in outstanding fund shares could affect these estimates substantially. This information is not final and is subject to change until the ex-date.

If you have additional questions about KLIP distributions, please refer to our FAQ.

2023 Distributions
Ex-Date Record Date Payable Date Monthly Distribution (%)* Amount
01/27/2023 01/30/2023 01/31/2023 2.22% 0.560000
02/24/2023 02/27/2023 02/28/2023 5.01% 1.160000
03/29/2023 03/30/2023 03/31/2023 4.95% 1.097768
04/26/2023 04/27/2023 04/28/2023 5.06% 1.033327
05/26/2023 05/30/2023 05/31/2023 4.52% 0.862498
06/28/2023 06/29/2023 06/30/2023 4.28% 0.834929
07/27/2023 07/28/2023 07/31/2023 4.27% 0.832117
08/29/2023 08/30/2023 08/31/2023 4.51% 0.834286
09/27/2023 09/28/2023 09/29/2023 4.21% 0.746773
10/27/2023 10/30/2023 10/31/2023 4.06% 0.696632
11/28/2023 11/29/2023 11/30/2023 3.91% 0.677419
12/27/2023 12/28/2023 12/29/2023 3.81% 0.625001

Monthly Distribution is the amount paid out by the fund as a distribution expressed as a percentage of the fund’s NAV as of the market close on the day prior to the ex-date. Distribution levels may vary month-to-month and no minimum distribution amount can be guaranteed. Past performance does not guarantee future results​.

*T-10 and T-5 refer to distribution estimate ranges provided 10 and 5 business days before the Payable Date, respectively.
Market conditions, portfolio changes and/or changes in outstanding fund shares could affect these estimates substantially. This information is not final and is subject to change until the ex-date.

If you have additional questions about KLIP distributions, please refer to our FAQ.

Topics:

Growth of $10,000

Data as of 09/12/2024

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 09/13/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($)
1 KraneShares CSI China Internet ETF 98.33% KWEB US5007673065 ETF 5,348,112 135,949,007
2 STATE ST INST US GOV 2.90% GVMXX – Money Market 4,014,195 4,014,195
3 Cash 0.57% – – Cash 784,457 784,457
4 2KWEB US 09/20/24 C26.99 -0.02% – – Option -8,296 -32,852
5 2KWEB US 09/27/24 C26.38 -0.17% – – Option -12,954 -235,115
6 2KWEB US 10/18/24 C25.42 -0.45% – – Option -7,224 -628,488
7 2KWEB US 10/04/24 C25.69 -0.55% – – Option -14,921 -762,015
8 2KWEB US 10/11/24 C25.28 -0.60% – – Option -10,086 -830,481

Holdings are subject to change.

Fund Documents

©2024 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.

A-Shares are issued by companies in mainland China and traded on local exchanges. They are available to domestic and certain foreign investors, including QFIs and those participating in Stock Connect Programs like Shanghai-Hong Kong and Shenzhen-Hong Kong. Foreign investments in A-Shares face various regulations and restrictions, including limits on asset repatriation. A-Shares may experience frequent trading halts and illiquidity, which can lead to volatility in the Fund’s share price and increased trading halt risks. The Chinese economy is an emerging market, vulnerable to domestic and regional economic and political changes, often showing more volatility than developed markets. Companies face risks from potential government interventions, and the export-driven economy is sensitive to downturns in key trading partners, impacting the Fund. U.S.-China tensions raise concerns over tariffs and trade restrictions, which could harm China’s exports and the Fund. China’s regulatory standards are less stringent than in the U.S., resulting in limited information about issuers. Tax laws are unclear and subject to change, potentially impacting the Fund and leading to unexpected liabilities for foreign investors. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values.

By writing call options in return for the receipt of premiums, the Fund will give up the opportunity to benefit from potential increases in the value of the Index above the exercise prices of such options, but will continue to bear the risk of declines in the value of the Index. The premiums received from the options may not be sufficient to offset any losses sustained from the volatility of the underlying stocks over time. As a result, the risks associated with writing call options may be similar to the risks associated with writing put options. In addition, the Fund’s ability to sell the securities underlying the options will be limited while the options are in effect unless the Fund cancels out the option positions through the purchase of offsetting identical options prior to the expiration of the written options. As the writer of a call option, the Fund may not be able to control the time when it may be required to fulfill its obligation to the purchaser of the option; however, the terms of the FLEX options written by the Fund will make them exercisable only on their expiration date. Exchanges may suspend the trading of options in volatile markets. If trading is suspended, the Fund may be unable to write options at times that may be desirable or advantageous to do so. Premiums the Fund receives from writing call options will result in short-term capital gains and will be distributed as ordinary income. As a result, a significant portion of distributions could be taxed at effective rates higher than those that would apply if the Fund engaged in a different investment strategy.

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 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. 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. KLIP 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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