KTEC
KraneShares Hang Seng TECH Index ETF
KTEC tracks a market-cap-weighted index of the 30 largest Chinese technology companies.
Fund Basics
| Fund sponsor | CICC |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 09, 2021 |
| Assets (mns) | $6 |
| Expense ratio | 69 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| LI AUTO, INC. CLASS A | 8.6 % |
| XIAOMI CORP. CLASS B | 8.5 % |
| TENCENT HOLDINGS LTD | 8.4 % |
| ALIBABA GROUP HOLDING LTD. | 8.4 % |
| KUAISHOU TECHNOLOGY CLASS B | 8.2 % |
| JD.COM, INC. CLASS A | 8.0 % |
| MEITUAN DIANPING | 7.8 % |
| NETEASE, INC | 6.0 % |
| BAIDU, INC. CLASS A | 4.9 % |
| XPENG, INC. CLASS A | 4.3 % |
Constituent Breakdown
| Number of holdings | 29 |
| Herfindahl-Hirschman Index | 627 |
| Wgt avg mkt cap (mns) | $115,774 |
| Large cap (>$10bn) | 80.9% |
| Mid cap ($2-10bn) | 16.6% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 33.1% |
| Emerging mkts. | 66.9% |
Country Exposure
 |
CHINA | 93.5 % |
 |
HONG KONG | 4.8 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -0.6% | -1.2% | -20.5% | -- | -- | -- | -26.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.45 | 4% |
| MSCI EAFE | 1.12 | 19% |
| MSCI Emg Mkts | 2.00 | 68% |
Liquidity Measures
| Avg. volume (000) | 7 |
| Turnover | 1.3% |
| Avg. Bid/Ask (% of price) | 0.53% |
| ADV of underlying (mns) | $3,297 |
Technical Indicators
| Recent close | $11.77 |
| 30d moving avg. | $12.57 |
| Annualized volatility | 45.0% |
| Relative strength (RSI) | 39 |
| 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. KTEC |
Expenses vs. KTEC |
ALTAR Score™ vs. KTEC |
|---|---|---|---|---|
| KWEB | KraneShares CSI China Internet ETF | 53.9% | 0 bp | +0.2% |
| FXI | iShares China Large-Cap ETF | 46.4% | +5 bp | +14.8% |
| TCHI | iShares MSCI China Multisector Tech ETF | 44.1% | -10 bp | +5.9% |
| KESG | KraneShares MSCI China ESG Leaders Index ETF | 40.3% | -10 bp | +13.0% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 40.1% | +17 bp | +3.2% |
| FDNI | First Trust Dow Jones International Internet ETF | 39.9% | -4 bp | +4.4% |
| CQQQ | Invesco China Technology ETF | 36.8% | +1 bp | -4.9% |
| MCHI | iShares MSCI China ETF | 33.8% | -11 bp | +12.0% |
| CHIQ | Global X MSCI China Consumer ETF | 33.5% | -4 bp | +6.0% |
| FLCH | Franklin FTSE China ETF | 33.1% | -50 bp | +12.2% |
Risk and Returns: KTEC 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 9/26/2023
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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
KTEC
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™
KTEC
-1.3%
Cat. Avg
7.7%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -1.3% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 185 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. KTEC's ALTAR Score™ is approximately
2.2 standard deviations
below
the category average. This places KTEC in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KTEC
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) |
|
|---|---|---|---|
| KTEC | 69.0 | 52.7 | 121.7 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .