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Overview

Performance

Growth of $10,000

Holdings

Listed Location Breakdown

Fund Documents

Overview

Investment Strategy:

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.

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

China Internet Sector Highlights:

  • Chinese retail web sales totaled $2 trillion1 in 2021 (compared to $870 billion2 in the United States).
  • China's internet population reached 1.03 billion people in 2021, a penetration of only 73%3. The U.S. internet population reached 302 million people, a penetration rate of 97% in 20214.
  • Total Chinese retail sales reached $7 trillion in 20215.
  • Online shopping accounted for 25% of retail purchases in China in 20215.

1. The State Council, the People’s Republic of China. Note: Figures converted from Chinese Renminbi to USD as of 3/31/2022.
2. US Census Bureau News as of 3/31/2022.
3. Data from Statista and The World Bank as of 3/31/2022.
4. Data from Statista and The World Bank as of 3/31/2022.
5. Data from Statista as of 3/31/2022. Note: Figures converted from Chinese Renminbi to USD.

Premium Discount Chart

Daily Performance

Data as of 11/29/2022
Daily Net Asset Value (NAV) and Market Price
NAV $26.34
NAV Daily Change 8.10%
Market Price $26.39
Market Price Daily Change 5.86%
30 Day Median Bid/Ask Spread
0.04%
Distributions

Performance History

Cumulative %
Data as of: 10/31/2022
Fund NAV Closing Price Index
1 Month -22.69% -22.08% -22.84%
3 Month -33.46% -32.28% -33.40%
6 Month -34.74% -32.08% -34.58%
Since Inception -12.33% -11.64% -10.67%
Avg Annualized %
Data as of month end: 10/31/2022
Fund NAV Closing Price Index
1 Year -57.44% -56.74% -57.28%
3 Year -23.00% -22.72% -22.58%
5 Year -17.64% -17.53% -17.18%
Since Inception -1.41% -1.33% -1.21%
Avg Annualized %
Data as of quarter end: 09/30/2022
Fund NAV Closing Price Index
1 Year -43.76% -43.98% -43.39%
3 Year -13.72% -13.65% -13.17%
5 Year -13.37% -13.44% -12.82%
Since Inception 1.38% 1.38% 1.61%

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 11/29/2022

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 11/30/2022 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 TENCENT HOLDINGS LTD 8.67% 700 KYG875721634 13,687,075 503,610,011
2 ALIBABA GROUP HOLDING LTD 8.41% 9988 KYG017191142 47,701,164 488,286,849
3 JD.COM INC - CL A 7.37% 9618 KYG8208B1014 15,264,990 427,900,822
4 MEITUAN-CLASS B 7.28% 3690 KYG596691041 20,156,200 422,465,482
5 PINDUODUO INC-ADR 6.28% PDD US7223041028 4,445,987 364,748,773
6 JD HEALTH INTERN 6.00% 6618 KYG5074A1004 39,957,300 348,612,149
7 TRIP.COM GROUP LTD 5.30% 9961 KYG9066F1019 10,188,850 307,538,666
8 KE HOLDINGS INC-ADR 5.01% BEKE US4824971042 17,180,650 290,696,598
9 FULL TRUCK A-ADR 4.62% YMM US35969L1089 31,459,320 268,348,000
10 NETEASE INC 4.55% 9999 KYG6427A1022 18,978,505 264,105,342

Holdings are subject to change.

Secondary Listing Holdings Overview

Data as of 11/30/2022
Name Ticker Listed Location % of Net Assets Combined % of Net Assets
ALIBABA GRP-ADR BABA United States 0.00% 8.41%
ALIBABA GROUP HOLDING LTD 9988 Hong Kong 8.41%
JD.COM INC-ADR JD United States 0.00% 7.37%
JD.COM INC - CL A 9618 Hong Kong 7.37%
TRIP.COM GROUP LTD-ADR TCOM United States 0.00% 5.30%
TRIP.COM GROUP LTD 9961 Hong Kong 5.30%
NETEASE INC-ADR NTES United States 0.00% 4.55%
NETEASE INC 9999 Hong Kong 4.55%
BAIDU INC - SPON ADR BIDU United States 0.00% 3.16%
BAIDU INC-CLASS A 9888 Hong Kong 3.16%
BILIBILI INC-ADR BILI United States 0.00% 2.50%
BILIBILI INC-CLASS Z 9626 Hong Kong 2.50%

Current Listed Location
Breakdown

Data as of 11/30/2022
Hong Kong 67.2%
United States 31.1%
Anticipated US to HK Relisting 1.7%

2021 Listed Location
Breakdown

Data as of 12/31/2021
Hong Kong 44.3%
United States 55.7%