Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KURE seeks to measure the performance of MSCI China All Shares Healthcare 10/40 Index. The Index is a free float adjusted market capitalization weighted index designed to track the equity market performance of Chinese companies engaged in the healthcare sector. The securities in the Index include all types of publicly issued shares of Chinese issuers, which are listed in Mainland China, Hong Kong, and the United States. Issuers eligible for inclusion must be classified under the Global Industry Classification Standard (GICS) as engaged in the healthcare sector. The issuers included in the Underlying Index may include small-cap, mid-cap, and large-cap companies.

China Health Care Sector Highlights:

  • China is the second largest healthcare market globally with total healthcare expenditures reaching $479 billion in 2023, after increasing by three times over the past ten years.1
  • There is still opportunity for considerable growth in China’s healthcare market with per capita healthcare spending at just over $340,1 compared to an average of $4,986 among the Organization for Economic Cooperation and Development (OECD) countries.2
  • China’s aging population, rising incomes and increasing urbanization may provide a sustained catalyst for growth in China’s healthcare sector.

KURE features:

  • Exposure to Chinese companies listed in the Mainland, Hong Kong and United States that are involved in the healthcare industry, specifically: Biotechnology, General Pharmaceuticals, Care Providers, Medical Devices, and Traditional Chinese Medicine.
  • Exposure to companies that benefit from China’s growing middle class and aging population.
  • Access to major global healthcare companies that are often not captured by broad indexes.

1.) Data from CEIC as of 12/31/2023. Retrieved on 6/30/2024.
2.) Data from OECD as of 12/31/2024. Retrieved on 6/30/2024.

Premium Discount Chart

Daily Performance

Data as of 12/12/2024
Daily Net Asset Value (NAV) and Market Price
NAV $15.38
NAV Daily Change 0.46%
Market Price $15.13
Market Price Daily Change -0.79%
30 Day Median Bid/Ask Spread
1.35%

Performance History

Cumulative %
Data as of: 11/30/2024
Fund NAV Closing Price Underlying Index
1 Month 0.53% 1.66% 0.60%
3 Month 10.97% 11.52% 11.34%
6 Month 7.99% 7.60% 8.40%
YTD -12.88% -12.58% -12.35%
Since Inception -29.04% -28.95% -25.40%
Avg Annualized %
Data as of month end: 11/30/2024
Fund NAV Closing Price Underlying Index
1 Year -18.45% -17.30% -17.74%
3 Year -20.36% -20.32% -19.92%
5 Year -4.55% -4.55% -3.71%
Since Inception -4.89% -4.88% -4.20%
Avg Annualized %
Data as of quarter end: 09/30/2024
Fund NAV Closing Price Underlying Index
1 Year -4.53% -5.29% -3.76%
3 Year -19.44% -19.81% -19.04%
5 Year -1.49% -1.68% -0.65%
Since Inception -3.52% -3.72% -2.85%

*Fee waivers are contractual and in effect until August 1, 2025

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.

Ex-Date Record Date Payable Date Amount

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.

Distribution History

2023 Distributions
Ex-Date Record Date Payable Date Amount
12/18/2023 12/19/2023 12/20/2023 0.112844
2022 Distributions
Ex-Date Record Date Payable Date Amount
12/28/2022 12/29/2022 12/30/2022 0.010399
2021 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2021 12/30/2021 12/31/2021 4.053537
2020 Distributions
Ex-Date Record Date Payable Date Amount
12/29/2020 12/30/2020 12/31/2020 0.000109

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2019 Distributions
Ex-Date Record Date Payable Date Amount
12/27/2019 12/30/2019 12/31/2019 0.057325
2018 Distributions
Ex-Date Record Date Payable Date Amount
12/24/2018 12/24/2018 12/28/2018 0.039344
12/26/2018 12/27/2018 12/28/2018 0.036607

Growth of $10,000

Data as of 12/12/2024

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 12/13/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 SHENZHEN MINDR-A 8.08% 300760 CNE100003G67 88,655 3,157,053
2 JIANGSU HENGRU-A 7.66% 600276 CNE0000014W7 467,928 2,995,475
3 BEIGENE LTD 6.04% 6160 KYG1146Y1017 169,318 2,360,227
4 WUXI BIOLOGICS CAYMAN INC 5.08% 2269 KYG970081173 868,135 1,987,141
5 WUXI APPTEC CO LTD-A 3.70% 603259 CNE1000031K4 186,420 1,447,221
6 INNOVENT BIOLOGICS INC 3.64% 1801 KYG4818G1010 295,500 1,421,185
7 AIER EYE HSPTL-A 3.49% 300015 CNE100000GR6 689,813 1,364,859
8 ZHANGZHOU PIEN-A 3.23% 600436 CNE000001F21 41,134 1,263,201
9 CSPC PHARMACEUTI 3.16% 1093 HK1093012172 1,998,889 1,233,819
10 AKESO INC 3.01% 9926 KYG0146B1032 144,000 1,178,643

Holdings are subject to change.