KURE
KraneShares MSCI All China Health Care Index ETF
The KraneShares MSCI All China Health Care Index ETF tracks an index of large- and midcap Chinese stocks in the health care sector, weighted by market capitalization.
Fund Basics
| Fund sponsor | KraneShares |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 31, 2018 |
| Assets (mns) | $45 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS | 7.4 % |
| JIANGSU HENGRUI MEDICINE CO., LTD. CLASS | 5.7 % |
| BEIGENE, LTD. | 4.1 % |
| WUXI BIOLOGICS (CAYMAN) INC. | 3.8 % |
| CHINA PHARMACEUTICAL GROUP | 3.6 % |
| INNOVENT BIOLOGICS, INC. | 3.2 % |
| WUXI APPTEC CO., LTD. CLASS A | 3.0 % |
| ZHANGZHOU PIENTZEHUANG PHARMACEUTICAL CO | 2.9 % |
| AIER EYE HOSPITAL GROUP CO., LTD. CLASS | 2.8 % |
| CHONGQING ZHIFEI BIOLOGICAL PRODUCTS CO. | 2.7 % |
Constituent Breakdown
| Number of holdings | 74 |
| Herfindahl-Hirschman Index | 234 |
| Wgt avg mkt cap (mns) | $12,720 |
| Large cap (>$10bn) | 41.9% |
| Mid cap ($2-10bn) | 57.0% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 21.2% |
| Emerging mkts. | 78.9% |
Country Exposure
 |
CHINA | 85.4 % |
 |
HONG KONG | 7.2 % |
 |
UNITED STATES | 2.4 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -10.9% | -23.6% | -17.9% | -22.8% | -4.1% | -- | -6.7% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.25 | 2% |
| MSCI EAFE | 0.56 | 11% |
| MSCI Emg Mkts | 0.83 | 26% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.87% |
| ADV of underlying (mns) | $2,849 |
Technical Indicators
| Recent close | $13.88 |
| 30d moving avg. | $18.28 |
| Annualized volatility | 29.0% |
| Relative strength (RSI) | 42 |
| Short interest (ETF) | 0.3% |
| 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. KURE |
Expenses vs. KURE |
ALTAR Score™ vs. KURE |
|---|---|---|---|---|
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 11.8% | -33 bp | +2.2% |
Risk and Returns: KURE 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 4/18/2024
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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
KURE
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™
KURE
3.7%
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™ | 3.7% |
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 163 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.8% and a standard deviation of
3.9%. KURE's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places KURE in the 14th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
KURE
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) |
|
|---|---|---|---|
| KURE | 65.0 | 86.6 | 151.6 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .