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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.

Fund Details

Data as of 09/25/2024
Ticker KURE
Primary Exchange NYSE
CUSIP 500767835
ISIN US5007678353
Net Assets $39,175,980
Total Annual Fund Operating Expense (Gross) 0.79%
Total Annual Fund Operating Expense (Net) 0.65%*
Inception Date 1/31/2018
Distribution Frequency Annual
Underlying Index MSCI China All Shares Health Care 10/40 Index (USD)

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Daily Performance

Data as of 09/25/2024
Daily Net Asset Value (NAV) and Market Price
NAV $13.99
NAV Daily Change 1.23%
Market Price $14.35
Market Price Daily Change -1.03%
30 Day Median Bid/Ask Spread
1.88%
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 Underlying Index
1 Month 0.51% 0.59% 0.66%
3 Month -2.69% -3.52% -2.65%
6 Month -12.96% -12.00% -12.71%
YTD -21.49% -21.61% -21.28%
Since Inception -36.05% -36.29% -33.00%
Avg Annualized %
Data as of month end: 08/31/2024
Fund NAV Closing Price Underlying Index
1 Year -21.56% -21.36% -20.91%
3 Year -23.87% -23.86% -23.45%
5 Year -6.07% -6.12% -5.28%
Since Inception -6.56% -6.62% -5.90%
Avg Annualized %
Data as of quarter end: 06/30/2024
Fund NAV Closing Price Underlying Index
1 Year -25.81% -26.10% -25.15%
3 Year -30.45% -30.55% -30.04%
5 Year -5.42% -5.59% -4.57%
Since Inception -7.21% -7.30% -6.52%

*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

Topics:

Growth of $10,000

Data as of 09/25/2024

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 09/26/2024 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 JIANGSU HENGRU-A 8.00% 600276 CNE0000014W7 492,928 3,280,068
2 SHENZHEN MINDR-A 7.80% 300760 CNE100003G67 93,655 3,197,308
3 BEIGENE LTD 7.15% 6160 KYG1146Y1017 177,518 2,930,183
4 INNOVENT BIOLOGICS INC 4.54% 1801 KYG4818G1010 323,000 1,860,236
5 WUXI BIOLOGICS CAYMAN INC 3.95% 2269 KYG970081173 909,635 1,620,757
6 CSPC PHARMACEUTI 3.68% 1093 HK1093012172 2,150,889 1,509,726
7 ZHANGZHOU PIEN-A 3.40% 600436 CNE000001F21 43,134 1,392,372
8 AKESO INC 3.15% 9926 KYG0146B1032 157,000 1,290,707
9 SINO BIOPHARMACEUTICAL 2.98% 1177 KYG8167W1380 2,665,750 1,219,992
10 WUXI APPTEC CO LTD-A 2.95% 603259 CNE1000031K4 195,020 1,208,610

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.

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. 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. KURE 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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