KGRN
KraneShares MSCI China Environment Index ETF
The KraneShares MSCI China Environment Index ETF tracks an index of Chinese companies of all capitalization sizes that derive at least 50% of their revenue from environmentally beneficial products and services.
Fund Basics
| Fund sponsor | KraneShares |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 12, 2017 |
| Assets (mns) | $202 |
| Expense ratio | 80 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
| LI AUTO, INC. SPONSORED ADR CLASS A | 9.1 % |
| XPENG, INC. ADR SPONSORED CLASS A | 8.8 % |
| NIO INC. SPONSORED ADR CLASS A | 8.7 % |
| BYD CO LTD-H | 7.2 % |
| CHINA LONGYUAN POWER GROUP-H | 5.4 % |
| CHINA CONCH VENTURE HOLDINGS | 5.4 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 4.7 % |
| XI'AN LONGI SILICON MATERIALS CO., LTD. | 4.4 % |
| XINYI SOLAR HOLDINGS LTD | 4.0 % |
| CHINA EVERBRIGHT INTL LTD | 3.4 % |
Constituent Breakdown
| Number of holdings | 45 |
| Herfindahl-Hirschman Index | 482 |
| Wgt avg mkt cap (mns) | $15,101 |
| Large cap (>$10bn) | 36.6% |
| Mid cap ($2-10bn) | 28.2% |
| Small cap (<$2bn) | 4.9% |
| Developed mkts. | 15.2% |
| Emerging mkts. | 84.8% |
Country Exposure
 |
CHINA | 85.6 % |
 |
HONG KONG | 14.7 % |
Historical Performance
Standardized Annual Returns (as of 09/30/2021)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -0.6% | 40.9% | 64.0% | 34.3% | -- | -- | 17.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 22% |
| MSCI EAFE | 0.81 | 22% |
| MSCI Emg Mkts | 1.07 | 50% |
Liquidity Measures
| Avg. volume (000) | 46 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.70% |
| ADV of underlying (mns) | $13,561 |
Technical Indicators
| Recent close | $48.21 |
| 30d moving avg. | $44.69 |
| Annualized volatility | 31.3% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.1% |
| 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 |
|---|---|---|---|---|
| CHII | Global X MSCI China Industrials ETF | 19.1% | -14 bp | +4.8% |
| SMOG | VanEck Vectors Low Carbon Energy ETF | 18.4% | -18 bp | -3.3% |
| PGJ | Invesco Golden Dragon China ETF | 17.0% | -10 bp | -1.6% |
| ERTH | Invesco MSCI Sustainable Future ETF | 16.8% | -22 bp | -2.1% |
| BATT | Amplify Advanced Battery Metals & Materials ETF | 16.5% | -21 bp | -4.3% |
| CHIQ | Global X MSCI China Consumer ETF | 16.1% | -15 bp | -1.2% |
| KARS | KraneShares Electric Vehicles & Future Mobility Index ETF | 16.0% | -10 bp | -2.3% |
| KESG | KraneShares MSCI China ESG Leaders Index ETF | 14.3% | -21 bp | +2.1% |
| RAYS | Global X Solar ETF | 13.7% | -30 bp | -5.4% |
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 12.4% | -20 bp | -6.3% |
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Results & Estimates
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021E | 2022E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2020 | 2021E | Fwd Est | 2022E | |
| 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 10/19/2021
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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
6.4%
Cat. Avg
7.6%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.4% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 170 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.6% and a standard deviation of
4.2%. KGRN's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places KGRN in the 39th 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
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) |
|
|---|---|---|---|
| KGRN | 80.0 | 69.7 | 149.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .