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KraneShares CSI China Internet ETF
ETF
KWEB
Payout Change
Pending
Price as of:
$32.16
-0.04
-0.12%
primary theme
China Region Equity
KWEB (ETF)
KraneShares CSI China Internet ETF
Payout Change
Pending
Price as of:
$32.16
-0.04
-0.12%
primary theme
China Region Equity
KWEB (ETF)
KraneShares CSI China Internet ETF
Payout Change
Pending
Price as of:
$32.16
-0.04
-0.12%
primary theme
China Region Equity
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
19.1%
1 yr return
19.7%
3 Yr Avg Return
-10.5%
5 Yr Avg Return
-5.0%
Net Assets
$5.43 B
Holdings in Top 10
60.1%
52 WEEK LOW AND HIGH
$32.2
$23.11
$38.87
Expenses
OPERATING FEES
Expense Ratio 0.70%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 89.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
KWEB - Profile
Distributions
- YTD Total Return 19.1%
- 3 Yr Annualized Total Return -10.5%
- 5 Yr Annualized Total Return -5.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.39%
- Dividend Yield 0.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameKraneShares CSI China Internet ETF
-
Fund Family NameKrane Funds Advisors, LLC
-
Inception DateJul 31, 2013
-
Shares Outstanding219413017
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJonathan Shelon
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in instruments in its Underlying Index or in instruments that have economic characteristics similar to those in the Underlying Index. The Underlying Index is designed to measure the equity market performance of investable publicly traded “China-based companies” whose primary business or businesses are in the Internet and Internet-related sectors (“China Internet Companies”) (as defined below), and are listed outside of mainland China, as determined by the index provider, China Securities Index Co., Ltd. (“Index Provider”).
| ● | The Index Provider defines China-based companies as those that: (i) are incorporated in mainland China; (ii) have their headquarters in mainland China; or (iii) derive at least 50% of its revenue from goods produced or sold, or services performed, in mainland China. |
| ● | China Internet Companies include, but are not limited to, companies that develop and market Internet software and/or provide Internet services; manufacture home entertainment software and educational software for home use; provide retail or commercial services primarily through the Internet; and develop and market mobile Internet software and/or provide mobile Internet services. |
The Underlying Index excludes securities that during the past year had a daily average trading value of less than $3 million or a daily average market cap of less than $2 billion. Constituents of the Underlying Index are ranked by free-float market capitalization in U.S. Dollars and then weighted so that no constituent exceeds 10% at each rebalance with the top five constituents capped at 40%. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of China Internet Companies.
The Fund may invest up to 20% of its assets in instruments that are not included in the Underlying Index, but that Krane believes will help the Fund track the Underlying Index. These investments may include equity securities and depositary receipts of issuers whose securities are not constituents of the Underlying Index, derivative instruments (including swaps, futures, forwards, structured notes and options), other investment companies (including exchange traded funds or “ETFs”) and cash or cash equivalents (including money market funds). The other investment companies in which the Fund may invest may be advised, sponsored or otherwise serviced by Krane and/or its affiliates.
The following China-related securities may be included in the Underlying Index and/or represent investments of the Fund:
| ● | China A-Shares, which are shares of companies incorporated in mainland China that are traded on the Chinese exchanges and denominated in domestic renminbi. China A-Shares are primarily purchased and sold in the domestic Chinese market. To the extent the Fund invests in China A-Shares, it expects to do so through the trading and clearing facilities of a participating exchange located outside of mainland China (“Stock Connect Programs”). A Qualified Foreign Investor (“QFI”) license may also be acquired to invest directly in China A-Shares. |
| ● | China B-Shares, which are shares of companies listed on the Shanghai or Shenzhen Stock Exchange but quoted and traded in foreign currencies (such as Hong Kong Dollars or U.S. Dollars), which were primarily created for trading by foreign investors. |
| ● | China H-Shares, which are shares of companies incorporated in mainland China and listed on the Hong Kong Stock Exchange (“H-Shares”), where they are traded in Hong Kong dollars and may be traded by foreign investors. |
| ● | China N-Shares, which are shares of companies with business operations in mainland China and listed on an American stock exchange, such as NYSE or NASDAQ (“N-Shares”). |
| ● | P-Chips, which are shares of private sector companies with a majority of their business operations in mainland China and controlling private Chinese shareholders, which are incorporated outside of mainland China and traded on the Hong Kong Stock Exchange in Hong Kong dollars. |
| ● | Red Chips, which are shares of companies with a majority of their business operations in mainland China and controlled by the central, provincial or municipal governments of the PRC, whose shares are traded on the Hong Kong Stock Exchange in Hong Kong dollars. |
| ● | S-Chips, which are shares of companies with business operations in mainland China and listed on the Singapore Exchange. S-Chip shares are issued by companies incorporated anywhere, but many are registered in Singapore, the British Virgin Islands, the Cayman Islands, or Bermuda. |
Although the Fund expects to replicate (or hold all constituents of) the Underlying Index, the Fund reserves the right to use representative sampling to track the Underlying Index. “Representative sampling” is a strategy that involves investing in a representative sample of securities that collectively have an investment profile similar to the Underlying Index.
As of May 31, 2024, the Underlying Index included 32 securities of companies with a market capitalization range of approximately $635 million to $437 billion and an average market capitalization of approximately $40 billion. The Underlying Index is rebalanced and reconstituted semi-annually.
The Fund is non-diversified. To the extent the Underlying Index is concentrated in a particular industry, the Fund is expected to be concentrated in that industry. As of May 31, 2024, issuers in the Consumer Discretionary sector (43.1%) and Communication Services sector (35.9%) represented significant portions of the Underlying Index.
The Fund may engage in securities lending.
KWEB - Performance
Return Ranking - Trailing
| Period | KWEB Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.1% | -14.0% | 32.3% | 19.57% |
| 1 Yr | 19.7% | -17.0% | 38.8% | 14.13% |
| 3 Yr | -10.5%* | -21.6% | 6.1% | 39.53% |
| 5 Yr | -5.0%* | -12.7% | 14.9% | 91.30% |
| 10 Yr | 0.2%* | -4.2% | 9.7% | 88.24% |
* Annualized
Return Ranking - Calendar
| Period | KWEB Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -10.6% | -26.6% | 26.3% | 12.50% |
| 2022 | -17.2% | -41.6% | -9.4% | 3.33% |
| 2021 | -52.5% | -52.5% | 26.5% | 100.00% |
| 2020 | 57.7% | 1.3% | 138.5% | 8.00% |
| 2019 | 29.8% | -1.9% | 42.6% | 39.73% |
Total Return Ranking - Trailing
| Period | KWEB Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.1% | -14.0% | 32.3% | 19.57% |
| 1 Yr | 19.7% | -17.0% | 38.8% | 14.13% |
| 3 Yr | -10.5%* | -21.6% | 6.1% | 39.53% |
| 5 Yr | -5.0%* | -12.7% | 14.9% | 91.30% |
| 10 Yr | 0.2%* | -4.2% | 9.7% | 88.24% |
* Annualized
Total Return Ranking - Calendar
| Period | KWEB Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -9.0% | -25.7% | 30.1% | 13.54% |
| 2022 | -17.2% | -40.4% | -6.8% | 12.22% |
| 2021 | -48.9% | -48.9% | 29.5% | 100.00% |
| 2020 | 58.2% | 2.0% | 138.5% | 13.33% |
| 2019 | 29.9% | 7.8% | 44.4% | 52.05% |
KWEB - Holdings
Concentration Analysis
| KWEB | Category Low | Category High | KWEB % Rank | |
|---|---|---|---|---|
| Net Assets | 5.43 B | 1.06 M | 5.63 B | 2.08% |
| Number of Holdings | 32 | 27 | 1176 | 95.83% |
| Net Assets in Top 10 | 3.28 B | 477 K | 3.28 B | 1.04% |
| Weighting of Top 10 | 60.09% | 5.6% | 85.4% | 18.75% |
Top 10 Holdings
- TENCENT HOLDINGS LTD COMMON STOCK 10.34%
- ALIBABA GROUP HOLDING LTD COMMON STOCK 8.92%
- PDD HOLDINGS INC DEPOSITARY RECEIPT 7.87%
- MEITUAN-CLASS B COMMON STOCK 7.24%
- JD.COM INC-CLASS A COMMON STOCK 5.60%
- NETEASE INC COMMON STOCK 4.36%
- TENCENT MUSIC ENTERTAINM-ADR DEPOSITARY RECEIPT 4.11%
- TRIP.COM GROUP LTD COMMON STOCK 4.00%
- KE HOLDINGS INC-ADR DEPOSITARY RECEIPT 3.82%
- KUAISHOU TECHNOLOGY COMMON STOCK 3.82%
Asset Allocation
| Weighting | Return Low | Return High | KWEB % Rank | |
|---|---|---|---|---|
| Stocks | 98.43% | 51.72% | 100.63% | 32.29% |
| Cash | 1.57% | 0.00% | 33.85% | 73.96% |
| Preferred Stocks | 0.00% | 0.00% | 2.47% | 65.63% |
| Other | 0.00% | -0.02% | 47.32% | 67.71% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 64.13% |
| Bonds | 0.00% | 0.00% | 0.00% | 65.63% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | KWEB % Rank | |
|---|---|---|---|---|
| Communication Services | 39.31% | 0.00% | 41.06% | 2.17% |
| Consumer Cyclical | 37.25% | 0.00% | 95.37% | 4.35% |
| Technology | 6.38% | 0.00% | 58.02% | 76.09% |
| Healthcare | 5.58% | 0.00% | 100.00% | 77.17% |
| Financial Services | 3.64% | 0.00% | 41.62% | 89.13% |
| Industrials | 3.43% | 0.00% | 36.69% | 89.13% |
| Real Estate | 3.36% | 0.00% | 22.12% | 35.87% |
| Consumer Defense | 1.05% | 0.00% | 20.13% | 96.74% |
| Utilities | 0.00% | 0.00% | 11.37% | 83.70% |
| Energy | 0.00% | 0.00% | 19.38% | 81.52% |
| Basic Materials | 0.00% | 0.00% | 19.86% | 95.65% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | KWEB % Rank | |
|---|---|---|---|---|
| Non US | 62.48% | 0.00% | 99.87% | 97.92% |
| US | 35.95% | 0.00% | 100.63% | 2.08% |
KWEB - Expenses
Operational Fees
| KWEB Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.70% | 0.09% | 14.63% | 84.38% |
| Management Fee | 0.68% | 0.09% | 1.50% | 21.88% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 34.21% |
| Administrative Fee | N/A | 0.06% | 0.25% | N/A |
Sales Fees
| KWEB Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| KWEB Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| KWEB Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 89.00% | 4.00% | 241.00% | 82.28% |
KWEB - Distributions
Dividend Yield Analysis
| KWEB | Category Low | Category High | KWEB % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.13% | 0.00% | 8.89% | 36.46% |
Dividend Distribution Analysis
| KWEB | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| KWEB | Category Low | Category High | KWEB % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.39% | -1.76% | 3.66% | 73.91% |
Capital Gain Distribution Analysis
| KWEB | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.042 | OrdinaryDividend |
| Dec 18, 2023 | $0.419 | OrdinaryDividend |
| Dec 29, 2021 | $2.580 | CapitalGainLongTerm |
| Dec 29, 2020 | $0.221 | OrdinaryDividend |
| Dec 27, 2019 | $0.041 | OrdinaryDividend |
| Dec 26, 2018 | $0.015 | OrdinaryDividend |
| Dec 26, 2018 | $1.260 | CapitalGainLongTerm |
| Dec 19, 2017 | $0.338 | OrdinaryDividend |
| Dec 20, 2016 | $0.414 | OrdinaryDividend |
| Dec 28, 2015 | $0.056 | OrdinaryDividend |
| Jun 25, 2014 | $0.291 | OrdinaryDividend |
| Dec 26, 2013 | $0.044 | OrdinaryDividend |
| Dec 26, 2013 | $0.060 | CapitalGainShortTerm |
KWEB - Fund Manager Analysis
Managers
Jonathan Shelon
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Jonathan Shelon, Managing Partner and Chief Operating Officer at Krane, also serves as a portfolio manager of each Fund and supports Mr. Schlarbaum and Krane’s investment team with respect to each Fund. Mr. Shelon has been a portfolio manager of each Fund since August 2018 (in the case of KraneShares CSI China Internet ETF, KraneShares Electric Vehicles and Future Mobility Index ETF, KraneShares Emerging Markets Consumer Technology Index ETF, KraneShares MSCI All China Healthcare Index ETF, KraneShares MSCI All China Index ETF, KraneShares MSCI China Environment Index ETF, KraneShares MSCI One Belt One Road Index ETF and KraneShares Zacks New China ETF) or since inception (in the case of KraneShares Emerging Markets Healthcare Index ETF, KraneShares MSCI All China Consumer Discretionary Index ETF, KraneShares MSCI All China Consumer Staples Index ETF and KraneShares MSCI China A Inclusion Hedged Index ETF,). Mr. Shelon joined Krane in 2015 as a Managing Partner. Mr. Shelon has spent the majority of his career managing investment portfolios and diverse teams at leading asset management organizations. Most recently, he was the Chief Investment Officer of a 40-person global Specialized Strategies Team at J.P. Morgan with $40 billion AUM. Prior to joining J.P. Morgan, Mr. Shelon spent ten years as a portfolio manager at Fidelity Investments since 2001 where he was responsible for the investment performance, process and evolution of their target-date strategies for retirement savings, college savings and income generation. Prior to joining, he was a quantitative consultant at Callan Associates, Inc.
James Maund
Start Date
Tenure
Tenure Rank
Jan 14, 2020
2.38
2.4%
James Maund, Head of Capital Markets at Krane Funds Advisors LLC. He joined the Krane Funds Advisors in 2020 and has been in the investment management industry since 2005. Previously, he was a Vice President in the Institutional ETF Group and a member of the ETF Capital Markets Group at State Street Global Advisors (2010-2019); and an ETF trader at Goldman Sachs & Co (2005-2010). Mr. Maund graduated with a bachelor’s degree in economics from Wesleyan University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 24.1 | 3.67 | 3.22 |
