KFYP
KraneShares CICC China Leaders 100 Index ETF
KFYP tracks the CSI CICC Select 100 Index, which takes a smart-beta approach to systematically invest in companies listed in Mainland China.
Fund Basics
| Fund sponsor | Krane Fund Advisors LLC |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 22, 2013 |
| Assets (mns) | $5 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| CHINA YANGTZE POWER CO LTD-A | 5.5 % |
| MIDEA GROUP CO. LTD. CLASS A | 5.4 % |
| GREE ELECTRIC APPLIANCES I-A | 5.2 % |
| CHINA MERCHANTS BANK -A | 5.0 % |
| BANK OF COMMUNICATIONS-A | 4.9 % |
| PING AN INSURANCE (GROUP) COMPANY OF CHI | 4.9 % |
| CHINA STATE CONSTRUCTION -A | 3.8 % |
| AGRICULTURAL BANK OF CHINA-A | 3.6 % |
| POLY REAL ESTATE GROUP CO -A | 3.0 % |
| CHINA VANKE CO LTD -A | 2.9 % |
Constituent Breakdown
| Number of holdings | 99 |
| Herfindahl-Hirschman Index | 271 |
| Wgt avg mkt cap (mns) | $7,390 |
| Large cap (>$10bn) | 31.6% |
| Mid cap ($2-10bn) | 18.2% |
| Small cap (<$2bn) | 2.9% |
| Developed mkts. | 7.0% |
| Emerging mkts. | 93.0% |
Country Exposure
 |
CHINA | 97.2 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 0.7% | -2.9% | -9.2% | -4.2% | 1.2% | 5.2% | 5.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.29 | 7% |
| MSCI EAFE | 0.53 | 24% |
| MSCI Emg Mkts | 0.82 | 53% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 1.5% |
| Avg. Bid/Ask (% of price) | 0.50% |
| ADV of underlying (mns) | $2,924 |
Technical Indicators
| Recent close | $22.63 |
| 30d moving avg. | $22.73 |
| Annualized volatility | 20.0% |
| Relative strength (RSI) | 44 |
| Short interest (ETF) | 0.0% |
| 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. KFYP |
Expenses vs. KFYP |
ALTAR Score™ vs. KFYP |
|---|---|---|---|---|
| AFTY | Pacer CSOP FTSE China A50 ETF | 20.8% | +1 bp | -3.8% |
| RAYC | Rayliant Quantamental China Equity ETF | 18.9% | +11 bp | -5.0% |
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | 18.4% | -4 bp | -4.9% |
| KBA | KraneShares Bosera MSCI China A Share ETF | 17.6% | -14 bp | -3.5% |
| KBUY | KraneShares CICC China Consumer Leaders Index ETF | 13.4% | 0 bp | -8.6% |
| CNYA | iShares MSCI China A ETF | 13.0% | -9 bp | -5.1% |
Risk and Returns: KFYP 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 9/28/2023
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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
KFYP
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™
KFYP
13.9%
Cat. Avg
7.8%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 13.9% |
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 186 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. KFYP's ALTAR Score™ is approximately
1.5 standard deviations
above
the category average. This places KFYP in the 93rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KFYP
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
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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) |
|
|---|---|---|---|
| KFYP | 69.0 | 49.9 | 118.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .