Krane Funds Advisors, LLC is the investment manager for KraneShares ETFs. Our suite of China-focused ETFs provides investors with solutions to capture China’s importance as an essential element of a well-designed investment portfolio. We strive to deliver innovative first-to-market strategies developed based on our strong partnerships and deep investing knowledge. We help investors stay current on global market trends and aim to provide meaningful diversification. Krane Funds Advisors, LLC, is a signatory of the United Nations-supported Principles for Responsible Investing (UN PRI). The firm is majority-owned by China International Capital Corporation (CICC).
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March 20, 2023 – Electrification Metals: Investment Case & Supply/Demand Outlook
March 6, 2023 – EU Carbon Allowances Climb Higher on Greater Market Clarity
March 2, 2023 – Key Takeaways From 2023 BloombergNEF Summit & EV Outlook
February 27, 2023 – Follow The Money: Is Your Portfolio Positioned for the New Growth Playbook?
Information about KraneShares ETFs, China's markets and culture, and general investing resources.
Our market update is a collaboration between the KraneShares internal research department, our local Chinese partners, and select China thought leaders from around the world. Our goal is to deliver a differentiated perspective on Chinese capital markets, business, government, and culture.
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New York, NY 10017
1 Embarcadero Center, Suite 2350
San Francisco, CA 94111
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.
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.
Ticker | KWEB |
Primary Exchange | NYSE |
CUSIP | 500767306 |
ISIN | US5007673065 |
Net Assets | $5,933,970,848 |
Total Annual Fund Operating Expense | 0.69% |
Inception Date | 7/31/2013 |
Distribution Frequency | Annual |
Daily Net Asset Value (NAV) and Market Price | |
NAV | $30.38 |
NAV Daily Change | 4.65% |
Market Price | $30.31 |
Market Price Daily Change | 4.81% |
30 Day Median Bid/Ask Spread |
0.03% |
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. |
NAV | Market Price | Premium/Discount |
$30.38 | $30.31 | $-0.07 |
2022 Full Year | Q1 2023 | |
Days traded at premium | 102 | 25 |
Days traded at NAV | 0 | 0 |
Days traded at discount | 129 | 31 |
The Premium/Discount History chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
As of March 18, 2022, the closing market price of the shares of KWEB had deviated by more than 2% from its published NAV for more than seven consecutive trading days (the “Period”). The instruments in which the Fund invests provide economic exposure to and/or trade principally in Hong Kong. During the Period, the markets for such instruments experienced unusually high levels of volatility, which the Adviser believes are related to ongoing geo-political events, including the potential repercussions for China due to the Russia-Ukraine conflict, inflation of global commodity prices and an increase in uncertainty around forecasts for economic growth. The Adviser believes that such market volatility has contributed materially to the deviation between the Fund’s closing price and its NAV during the Period.
Fund NAV | Closing Price | Index | |
1 Month | -13.80% | -13.82% | -13.68% |
3 Month | 5.45% | 2.75% | 5.29% |
6 Month | -2.63% | -2.51% | -2.55% |
Since Inception | 34.52% | 34.33% | 37.18% |
Fund NAV | Closing Price | Index | |
1 Year | -12.90% | -12.76% | -12.52% |
3 Year | -13.43% | -13.68% | -12.94% |
5 Year | -12.52% | -12.49% | -12.10% |
Since Inception | 3.14% | 3.13% | 3.35% |
Fund NAV | Closing Price | Index | |
1 Year | -16.85% | -17.24% | -16.36% |
3 Year | -12.38% | -12.53% | -11.77% |
5 Year | -10.38% | -10.48% | -9.85% |
Since Inception | 3.61% | 3.55% | 3.85% |
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.
2022 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/28/2022 | 12/29/2022 | 12/30/2022 | 0 |
2021 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/29/2021 | 12/30/2021 | 12/31/2021 | 2.580389 |
2020 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/29/2020 | 12/30/2020 | 12/31/2020 | 0.221385 |
2019 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/27/2019 | 12/30/2019 | 12/31/2019 | 0.041258 |
2018 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/27/2018 | 12/27/2018 | 12/28/2018 | 1.2598 |
12/26/2018 | 12/27/2018 | 12/28/2018 | 0.014981 |
2017 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/20/2017 | 12/19/2017 | 12/22/2017 | 0.338221 |
2016 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/22/2016 | 12/20/2016 | 12/23/2016 | 0.413573 |
2015 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/30/2015 | 12/26/2015 | 12/31/2015 | 0.0557 |
06/27/2015 | 06/25/2015 | 06/30/2015 | 0.291013 |
2014 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/30/2014 | 12/26/2014 | 12/31/2014 | 0 |
06/27/2014 | 06/25/2014 | 06/30/2014 | 0.291013 |
2013 Distributions |
Ex-Date | Record Date | Payable Date | Amount |
12/30/2013 | 12/26/2013 | 12/31/2013 | 0.104704 |
We believe $KRBN and the #carbon #markets are poised for a breakout year in 2023. In our latest climate report, we cover the key drivers for each major emissions trading system, including policy reform, #geopolitical dynamics, and #energy supply.
— KraneShares (@KraneShares) February 9, 2023
Download: https://t.co/yjZDlLduB9 pic.twitter.com/GHSrNjl3U4
In this winter’s China Internet Report, we look at “Baidu Apollo’s Feedback Driven Innovation,” top companies’ earnings results, and how #China's reopening presents a tremendous opportunity for China's #internet/#tech sector.
— KraneShares (@KraneShares) February 3, 2023
Download: https://t.co/LozIZu2eWt$KWEB $BIDU pic.twitter.com/xY3s8lkCdk
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 $10,000 investment in the fund is hypothetical and for illustration purposes only.
Rank | Name | % of Net Assets | Ticker | Identifier | Shares Held | Market Value($) |
1 | TENCENT HOLDINGS LTD | 11.92% | 700 | KYG875721634 | 14,729,675 | 707,051,421 |
2 | ALIBABA GROUP HOLDING LTD | 8.13% | 9988 | KYG017191142 | 44,360,964 | 482,055,394 |
3 | MEITUAN-CLASS B | 6.92% | 3690 | KYG596691041 | 22,998,348 | 410,763,255 |
4 | BAIDU INC-CLASS A | 5.19% | 9888 | KYG070341048 | 15,657,784 | 307,981,432 |
5 | PDD HOLDINGS INC | 5.07% | PDD | US7223041028 | 4,063,495 | 300,536,090 |
6 | NETEASE INC | 5.02% | 9999 | KYG6427A1022 | 16,579,805 | 297,814,248 |
7 | JD.COM INC - CL A | 4.53% | 9618 | KYG8208B1014 | 13,273,740 | 268,528,727 |
8 | KE HOLDINGS INC-ADR | 4.47% | BEKE | US4824971042 | 14,453,097 | 265,358,861 |
9 | TRIP.COM GROUP LTD | 4.36% | 9961 | KYG9066F1019 | 6,904,400 | 258,595,055 |
10 | TENCENT MUSI-ADR | 4.17% | TME | US88034P1093 | 32,272,956 | 247,210,843 |
Holdings are subject to change.
Name | Ticker | Listed Location | % of Net Assets | Combined % of Net Assets |
ALIBABA GRP-ADR | BABA | United States | 0.00% | 8.13% |
ALIBABA GROUP HOLDING LTD | 9988 | Hong Kong | 8.13% | |
BAIDU INC - SPON ADR | BIDU | United States | 0.00% | 5.19% |
BAIDU INC-CLASS A | 9888 | Hong Kong | 5.19% | |
NETEASE INC-ADR | NTES | United States | 0.00% | 5.02% |
NETEASE INC | 9999 | Hong Kong | 5.02% | |
JD.COM INC-ADR | JD | United States | 0.00% | 4.53% |
JD.COM INC - CL A | 9618 | Hong Kong | 4.53% | |
TRIP.COM GROUP LTD-ADR | TCOM | United States | 0.00% | 4.36% |
TRIP.COM GROUP LTD | 9961 | Hong Kong | 4.36% | |
BILIBILI INC-ADR | BILI | United States | 0.00% | 3.65% |
BILIBILI INC-CLASS Z | 9626 | Hong Kong | 3.65% | |
Many US-listed Chinese companies also have listings in Hong Kong, called "secondary listings". KWEB seeks to provide investors with optimal exposure to the US and Hong Kong listed versions of these securities. In the table above, we display the individual and combined impact of US and secondary listings on the Fund. |
Hong Kong | 66.9% | |
United States | 31.0% | |
Anticipated US to HK Relisting | 2.2% |
Hong Kong | 44.3% | |
United States | 55.7% |
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