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Overview

Performance

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KSTR seeks to track the performance of the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index. The Index is comprised of the 50 largest companies listed on the SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.

STAR Market Highlights:

  • Facilitates the fast-tracking of private science and technology companies to an initial public offering (IPO).
  • Since its establishment in July 2019, the STAR Market has become one of the largest IPO markets globally1 and a premier listing venue for prominent Chinese unicorns (privately held startup companies valued at over $1 billion).
  • Recent increases in fund-raising activity on Chinese exchanges can largely be attributed to the STAR Market, which accounted for 47% of capital raised across China’s Mainland A-Share market in 20202.
  • Potential inclusion in the SSE Composite Index and Shanghai-Hong Kong Stock Connect could result in greater flows for STAR Market securities.

KSTR Features:

  • Exposure to companies poised to be China’s future leaders across industries that could represent the growth engine of China for decades to come.
  • Innovation-driven science and technology companies in China that offer a potential source of uncorrelated, long-term growth.
  • Includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.

1. YiCai Global, “China’s Year-Old Star Market Outshines the Venerable Nasdaq”, July 23, 2020.
2. The Asset, “A bumper IPO year despite Covid-19”, December 14, 2020.

Premium Discount Chart

Daily Performance

Data as of 02/03/2023
Daily Net Asset Value (NAV) and Market Price
NAV $16.57
NAV Daily Change -0.54%
Market Price $16.56
Market Price Daily Change -1.37%
30 Day Median Bid/Ask Spread
0.3%
Distributions

Performance History

Cumulative %
Data as of: 01/31/2023
Fund NAV Closing Price Index
1 Month 8.49% 10.23% 8.78%
3 Month 8.57% 10.30% 8.26%
6 Month -8.45% -7.20% -7.05%
Since Inception -34.60% -34.04% -33.80%
Avg Annualized %
Data as of month end: 01/31/2023
Fund NAV Closing Price Index
1 Year -22.91% -22.58% -21.99%
Since Inception -19.01% -18.67% -18.52%
Avg Annualized %
Data as of quarter end: 12/31/2022
Fund NAV Closing Price Index
1 Year -38.14% -38.51% -36.83%
Since Inception -23.08% -23.37% -22.70%

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.

Growth of $10,000

Data as of 02/03/2023

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.

Top 10 Holdings

Data as of 02/03/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 TRINA SOLAR CO LTD-A 8.14% 688599 CNE100003ZR0 386,171 3,777,324
2 BEIJING KINGSO-A 6.74% 688111 CNE100003PM2 65,683 3,127,186
3 MONTAGE TECHNO-A 5.07% 688008 CNE100003MN7 282,529 2,353,350
4 ADVANCED MICRO-A 4.37% 688012 CNE100003MM9 126,989 2,025,310
5 ZHEJIANG SUPCO-A 3.70% 688777 BMYLP63 123,818 1,717,765
6 WESTERN SUPERCON 3.60% 688122 CNE100003MF3 115,649 1,667,848
7 CHINA RESOURCE-A 3.38% 688396 CNE100003S06 187,996 1,569,809
8 SHENZHEN TRANS-A 3.30% 688036 CNE100003P74 114,493 1,528,824
9 GOODWE TECHNOL-A 3.29% 688390 CNE100004363 26,318 1,524,541
10 PYLON TECHNOLO-A 3.14% 688063 BN45744 33,078 1,457,836

Holdings are subject to change.