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Explore the KraneShares China Internet ETF Suite

China has the world’s largest internet population and E-Commerce market.1 The KraneShares CSI China Internet ETF (Ticker: KWEB) exposes investors to this dynamic market. KWEB has over a ten-year track record and is one of the largest China ETFs globally.2 KWEB also has a profoundly liquid options market, which has enabled us to create a suite of ETFs offering investors growth, downside protection, and income opportunities through defined outcome and covered call strategies. Please register for our newsletter for more information.

1. Data from Statista, The World Bank, and the National Bureau of Statistics of China as of 12/31/2022.
2. Data from Bloomberg and KraneShares as of 2/21/2024. Universe is limited to US-listed ETFs.

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KWEB

KraneShares CSI China Internet ETF

KWEB tracks the CSI Overseas China Internet Index, which consists of China based companies whose primary business or businesses are focused on internet and internet-related technology. The Index is free float market capitalization weighted and includes publicly traded securities on either the Hong Kong Stock Exchange, NASDAQ Stock Market, or New York Stock Exchange.

Fact sheet Presentation

KLIP

KraneShares China Internet & Covered Call Strategy ETF

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. KWEB tracks the performance of the investable universe of publicly traded China-based companies in the Internet sector.

Fact sheet Presentation

KPRO

KraneShares 100% KWEB Defined Outcome January 2026 ETF

The KraneShares 100% KWEB Defined Outcome January 2026 ETF (Ticker: KPRO) aims to match the price return of the KraneShares CSI China Internet ETF (Ticker: KWEB), to a predetermined cap of 22.69%, with a 100% downside buffer over the Outcome Period, from February 8, 2024 to January 16, 2026.

Fact sheet Presentation

KBUF

KraneShares 90% KWEB Defined Outcome January 2026 ETF

The KraneShares 90% KWEB Defined Outcome January 2026 ETF (Ticker: KBUF) aims to match the price return of the KraneShares CSI China Internet ETF (Ticker: KWEB), to a predetermined cap of 41.20%, with a 90% downside buffer over the Outcome Period, from February 8, 2024 to January 16, 2026.

Fact sheet Presentation

KPRO and KBUF have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Funds is right for you, please read the Funds' prospectus including "Investor Suitability Considerations."

Growth, Income, and Defined Outcome Opportunities From KWEB

What is a Defined Outcome ETF?

  • A defined outcome ETF is an exchange-traded fund that seeks to provide investors with upside returns of an underlying asset subject to an upside return "Cap" while protecting shareholders by providing a "Buffer" against decreases in the price return of the underlying asset. The upside cap may be higher for underlying assets with higher volatility.

What is a Covered Call ETF?

  • A covered call ETF is an exchange-traded fund that provides investors with premium 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 options.
  • Writing covered calls may produce higher yields during periods of market volatility.

Exposure to KWEB Provides:

  • Access to Chinese internet companies that provide similar services as Google, Facebook, Twitter, eBay, Amazon, etc.
  • Exposure to companies benefitting from increasing domestic consumption by China's growing middle class
  • Exposure to Chinese internet companies listed in both the United States and Hong Kong

Invest in the China Internet Opportunity

©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.

KPRO and KBUF have characteristics unlike many other traditional investment products and may not be suitable for all investors. An investment in KPRO and KBUF may not be appropriate for investors who do not intend to hold Fund shares for the entire Outcome Period. In the event an investor purchases shares after the beginning of the Outcome Period or sells shares prior to end of the Outcome Period, the returns realized by the investor may not match those that KPRO and KBUF seeks to provide. KPRO and KBUF may not fully protect against KWEB losses if its share price drops during the Outcome Period. Buying or selling shares during this time may affect the Buffer’s availability. Even if KWEB’s value rises, the Buffer won’t guard against any subsequent decrease. A new Cap is set at the start of each Outcome Period and depends on current market conditions. Therefore, the Cap may change between Outcome Periods and is unlikely to stay constant. Investors should keep track of Cap changes for each Outcome Period, details of which will be provided according to the process outlined in KPRO and KBUF’s prospectus. KPRO and KBUF aim to provide returns subject to a Cap, but there is no guarantee of success. If KPRO and KBUF’s gains exceed the Cap, KPRO and KBUF won’t appreciate beyond the Cap and will underperform. Due to the Cap, KPRO and KBUF may significantly underperform KWEB. Buying shares after the Outcome Period starts may limit gains, exposing to potential losses. Selling shares before the Outcome Period ends may result in underperformance.

KPRO and KBUF may invest in derivatives, which are often more volatile than other investments and may magnify KPRO and KBUF'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. KPRO and KBUF are 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 KPRO and KBUF 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. KPRO and KBUF will use FLEX options from the Options Clearing Corporation (OCC). There’s a risk of the OCC failing to meet its obligations. KPRO and KBUF may face challenges in less liquid FLEX options markets and have difficulty closing positions at desired times and prices. If the unlikely event the OCC becomes insolvent, KPRO and KBUF could suffer losses. Failure by market participants to enter into FLEX options transactions that reflect market value could result in losses. Some FLEX options may expire worthless. The value of these options is associated with KWEB and influenced by factors such as market fluctuations and time until expiration.

The ability of KPRO, KBUF, KLIP and KWEB to achieve its respective investment objectives is dependent, in part, on the continuous availability of A Shares and the ability to obtain, if necessary, additional A Shares quota. If KPRO, KBUF, KLIP and KWEB are unable to obtain sufficient exposure to limited availability of A Share quota, KPRO, KBUF, KLIP and KWEB could seek exposure to the component securities of the Underlying Index by investment in other types of securities. KPRO, KBUF, KLIP and KWEB are subject to political, social or economic instability within China which may cause decline in value. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. KPRO, KBUF and KLIP are new and does not yet have a significant number of shares outstanding. If KPRO, KBUF and KLIP do 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.

By writing call options in return for the receipt of premiums, KLIP 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, KLIP’s ability to sell the securities underlying the options will be limited while the options are in effect unless KLIP 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, KLIP 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 KLIP will make them exercisable only on their expiration date. Exchanges may suspend the trading of options in volatile markets. If trading is suspended, KLIP may be unable to write options at times that may be desirable or advantageous to do so. Premiums KLIP 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 KLIP engaged in a different investment strategy.

KLIP and KWEB may invest in derivatives, which are often more volatile than other investments and may magnify KLIP and KWEB’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. KLIP and KWEB are 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 KLIP and KWEB 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.

Narrowly focused investments typically exhibit higher volatility. KPRO, KBUF, KLIP and KWEB’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, KPRO, KBUF, KLIP and KWEB are 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 and KWEB 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 KLIP and KWEB increase in size, the impact of IPOs on KLIP and KWEB’s performance will generally decrease. KBUF, KLIP, KPRO and KWEB are 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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