KESG
KraneShares MSCI China ESG Leaders Index ETF
KESG tracks a market-cap-weighted index of Chinese companies that have high environmental, social and governance ratings.
Fund Basics
| Fund sponsor | CICC |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 29, 2020 |
| Assets (mns) | $4 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MEITUAN DIANPING | 9.5 % |
| CHINA CONSTRUCTION BANK-H | 9.3 % |
| TENCENT HOLDINGS LTD | 8.7 % |
| ALIBABA GROUP HOLDING LTD. | 8.5 % |
| NETEASE, INC | 4.5 % |
| BAIDU, INC. CLASS A | 4.1 % |
| WUXI BIOLOGICS (CAYMAN) INC. | 3.6 % |
| YUM CHINA HOLDINGS, INC. | 3.4 % |
| BYD CO LTD-H | 3.4 % |
| CHINA MERCHANTS BANK - H | 3.0 % |
Constituent Breakdown
| Number of holdings | 165 |
| Herfindahl-Hirschman Index | 440 |
| Wgt avg mkt cap (mns) | $72,760 |
| Large cap (>$10bn) | 60.3% |
| Mid cap ($2-10bn) | 19.8% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 27.8% |
| Emerging mkts. | 72.2% |
Country Exposure
 |
CHINA | 88.0 % |
 |
HONG KONG | 11.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2022)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -22.9% | -32.1% | -11.0% | -- | -- | -- | -8.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.08 | 0% |
| MSCI EAFE | 0.17 | 2% |
| MSCI Emg Mkts | 0.92 | 34% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.39% |
| ADV of underlying (mns) | $14,028 |
Technical Indicators
| Recent close | $17.38 |
| 30d moving avg. | $19.38 |
| Annualized volatility | 20.8% |
| Relative strength (RSI) | 24 |
| Short interest (ETF) | 0.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. KESG |
Expenses vs. KESG |
ALTAR Score™ vs. KESG |
|---|---|---|---|---|
| FXI | iShares China Large-Cap ETF | 52.3% | +15 bp | +2.8% |
| MCHI | iShares MSCI China ETF | 46.9% | -2 bp | -1.5% |
| FLCH | Franklin FTSE China ETF | 43.4% | -40 bp | -1.3% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 41.5% | -27 bp | -5.8% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 36.9% | +9 bp | -14.3% |
| KWEB | KraneShares CSI China Internet ETF | 35.2% | +10 bp | -12.6% |
| KALL | KraneShares MSCI All China Index ETF | 34.1% | -11 bp | -0.9% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 30.4% | +27 bp | -11.0% |
| CHIQ | Global X MSCI China Consumer ETF | 30.1% | +6 bp | -9.4% |
| EMSG | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 30.0% | -39 bp | -4.2% |
Risk and Returns: KESG vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2021 | 2022E | Fwd Est | 2023E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 9/30/2022
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
KESG
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
KESG
13.0%
Cat. Avg
8.7%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 13.0% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 178 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 8.7% and a standard deviation of
4.5%. KESG's ALTAR Score™ is approximately
0.9 standard deviations
above
the category average. This places KESG in the 83rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KESG
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KESG | 59.0 | 38.8 | 97.8 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .