Fund Documents


Investment Strategy:

KLXY provides exposure to leading developed markets companies from global luxury-related sectors weighted by market capitalization. These companies operate across industries, including leather goods, jewelry, accessories, skincare, cosmetics, beverages, travel, and supercar businesses.

Global Luxury Market Highlights:

  • Global luxury companies tend to have resilient pricing power, strong profitability, and high barriers to entry, offering investors potential long-term growth.
  • The luxury industry tends to be resilient in economic downturns and inflationary periods, strengthened by longstanding brand reputations and loyal customer bases.
  • The global luxury market is projected to reach $570-615 billion by 2030, which is more than double its size in 2020.1
  • China is expected to add more than 71 million people to its growing upper/high-income middle class by 2025, potentially driving future growth of global luxury companies.2
  • Post-pandemic international travel rebounded in 2022, as international tourist arrivals more than doubled compared to 2020.3 Rising outbound tourists are likely to boost luxury shopping in duty-free countries.

KLXY Features:

  • Invested in over 40 of the top global luxury companies by market capitalization, including companies such as LVMH, Hermes, Ferrari, and Pernod Ricard.
  • Access to global luxury brands across various key sectors, including luxury goods, skincare, cosmetics, beverages, travel, and vehicles.
  • Diversified exposure to developed countries outside of the United States, including France, the United Kingdom, Italy, Switzerland, and Japan.4

1. Bain & Company, “Global luxury goods market takes 2022 leap forward and remains poised for further growth despite economic turbulence”, Nov 2022. Retrieved 8/30/2023.
2. McKinsey, “2023 McKinsey China Consumer Report: A Time of Resilience”, December 2022, Retrieved 8/30/2023.
3. World Economic Forum, “Charted: How international travel bounced back strongly in 2022”, May 2023. Retrieved 8/30/2023.
4. Diversification does not ensure a profit or guarantee against a loss.

Premium Discount Chart

Daily Performance

Data as of 11/30/2023
Daily Net Asset Value (NAV) and Market Price
NAV $24.01
NAV Daily Change -0.04%
Market Price $23.99
Market Price Daily Change -0.17%
30 Day Median Bid/Ask Spread

Performance History

Cumulative %
Data as of: 11/30/2023
Fund NAV Closing Price Index
1 Month 5.45% 4.81% 5.61%
3 Month
6 Month
Since Inception -3.96% -4.04% -3.49%
Cumulative %
Data as of quarter end: 09/30/2023
Fund NAV Closing Price Index
Since Inception -6.28% -5.88% -6.00%

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
12/18/2023 12/19/2023 12/20/2023

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.

Top 10 Holdings

Data as of 12/01/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 LVMH MOET HENNE 9.88% MC FR0000121014 397 298,409
2 L'OREAL 9.53% OR FR0000120321 609 287,808
3 DIAGEO PLC 7.09% DGE GB0002374006 6,017 214,051
4 CIE FINANCI-REG 7.05% CFR CH0210483332 1,691 213,120
5 HERMES INTERNATIONAL 6.32% RMS FR0000052292 92 190,920
6 FERRARI NV 5.00% RACE NL0011585146 424 151,059
7 ESTEE LAUDER 4.63% EL US5184391044 1,061 139,988
8 ESSILORLUXOTTICA 4.52% EL FR0000121667 708 136,646
9 KERING 4.44% KER FR0000121485 315 134,104
10 PERNOD RICARD SA 4.11% RI FR0000120693 724 124,067

Holdings are subject to change.