KGRN
KraneShares MSCI China Clean Technology Index ETF
KGRN tracks an index of Chinese companies of all capitalization sizes that derive at least 50% of their revenue from environmentally beneficial products and services.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
79 bp
EXPENSES
$53.0 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | KraneShares |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2017 |
| Assets (mns) | $53 |
| Expense ratio | 79 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 | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| BYD CO LTD-H | 8.7 % |
| LI AUTO, INC. CLASS A | 8.1 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 6.3 % |
| NIO INC. SPONSORED ADR CLASS A | 5.5 % |
| CHINA YANGTZE POWER CO LTD-A | 5.3 % |
| CHINA LONGYUAN POWER GROUP-H | 4.9 % |
| KINGDEE INTERNATIONAL SFTWR | 4.4 % |
| XPENG, INC. CLASS A | 4.1 % |
| XINYI SOLAR HOLDINGS LTD | 3.7 % |
| BEIJING-SHANGHAI HIGH-SPEED RAILWAY CO., | 3.3 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 412 |
| Wgt avg mkt cap (mns) | $27,066 |
| Large cap (>$10bn) | 52.2% |
| Mid cap ($2-10bn) | 40.0% |
| Small cap (<$2bn) | 6.6% |
| Developed mkts. | 10.7% |
| Emerging mkts. | 89.3% |
Country Exposure
 |
CHINA | 86.7 % |
 |
HONG KONG | 6.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -11.3% | -26.2% | -29.1% | -24.8% | 3.5% | -- | -1.7% | Volatility | 32.1% | 30.7% | 31.7% | 36.6% | 36.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.61 | 9% |
| MSCI EAFE | 0.86 | 17% |
| MSCI Emg Mkts | 1.30 | 39% |
Liquidity Measures
| Avg. volume (000) | 14 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.87% |
| ADV of underlying (mns) | $4,012 |
Technical Indicators
| Recent close | $19.99 |
| 30d moving avg. | $20.09 |
| Annualized volatility | 36.6% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 0.5% |
| 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. KGRN |
Expenses vs. KGRN |
ALTAR Score™ vs. KGRN |
|---|---|---|---|---|
| KARS | KraneShares Electric Vehicles & Future Mobility Index ETF | 19.8% | -7 bp | -6.4% |
| KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | 15.6% | -24 bp | +2.4% |
| CHIQ | Global X MSCI China Consumer Discretionary ETF | 15.5% | -14 bp | -0.5% |
| BATT | Amplify Lithium & Battery Technology ETF | 13.8% | -20 bp | -6.0% |
| AFTY | Pacer CSOP FTSE China A50 ETF | 12.7% | -9 bp | +3.0% |
| OBOR | KraneShares MSCI One Belt One Road Index ETF | 12.6% | 0 bp | +3.4% |
| IDRV | iShares Self-driving EV & Tech ETF | 12.3% | -32 bp | -7.0% |
| ETEC | iShares Breakthrough Environmental Solutions ETF | 11.6% | -32 bp | +1.5% |
| FDRV | Fidelity Electric Vehicles and Future Transportation ETF | 10.5% | -40 bp | -9.3% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 10.3% | -10 bp | -10.6% |
Risk and Returns: KGRN 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 7/25/2024
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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
KGRN
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™
KGRN
6.5%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.5% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. KGRN's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places KGRN in the 40th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KGRN
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| KGRN (79 bp) Percentile rank | 69 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KGRN | 79.0 | 86.5 | 165.5 |
| Peer Avg. | 66.6 | 48.3 | 114.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .