KWEB

KraneShares CSI China Internet ETF

The KraneShares CSI China Internet ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the CSI Overseas China Internet Index. The index is designed to measure the performance of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors.


Emerging Market

EQUITY

Rules-Based

MANAGEMENT STYLE

6.1 B

ASSETS UNDER MGMT

69 bp

EXPENSES
Fund Basics
Fund sponsorKrane Fund Advisors LLC
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateJul 31, 2013
Assets (mns)$6,111
Expense ratio69 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
TENCENT HOLDINGS LTD 10.4 %
ALIBABA GROUP HOLDING LTD. 9.7 %
PINDUODUO, INC. SPONSORED ADR CLASS A 8.2 %
MEITUAN DIANPING 7.4 %
JD.COM, INC. CLASS A 5.8 %
NETEASE, INC 4.5 %
TENCENT MUSIC ENTERTAINMENT GROUP ADR CL 4.3 %
BAIDU, INC. CLASS A 4.0 %
KE HOLDINGS, INC. SPONSORED ADR CLASS A 3.9 %
TRIP.COM GROUP LTD. 3.8 %
Constituent Breakdown
Number of holdings33
Herfindahl-Hirschman Index 540
Wgt avg mkt cap (mns)$127,363
Large cap (>$10bn)74.8%
Mid cap ($2-10bn)25.2%
Small cap (<$2bn)0.0%
Developed mkts.22.4%
Emerging mkts.77.7%
Country Exposure
CHINA 93.6 %
HONG KONG 1.9 %
Historical Performance


Standardized Performance (as of 09/30/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 21.7% 22.1% 16.5% -8.9% -2.8% 0.9% 3.5%
Volatility 33.4% 34.5% 44.0% 54.1% 47.4% 38.8% --
Market Correlations
versus...BetaR-squared
S&P 5000.322%
MSCI EAFE0.9915%
MSCI Emg Mkts1.9757%
Liquidity Measures
Avg. volume (000)39,232
Turnover22.2%
Avg. Bid/Ask (% of price)0.04%
ADV of underlying (mns)$20,846
Technical Indicators
Recent close$34.61
30d moving avg.$26.90
Annualized volatility45.3%
Relative strength (RSI)52
Short interest (ETF)11.5%
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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Risk and Returns: KWEB vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
1.6 12.9 1.7 0.4% --
Based on closing prices from 10/9/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
KWEB



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 Rating

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.

ALTAR Score™

KWEB

-1.4%

Cat. Avg

7.5%


ALTAR Score™ Calculation

Category Overview
There are 164 funds in the Emerging Equity category, with an average ALTAR Score™ of 7.5% and a standard deviation of 4.1%. KWEB's ALTAR Score™ is approximately 2.2 standard deviations below the category average. This places KWEB in the 1st percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

KWEB
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Rules-Based
Emerging Market Equity ETFs
# of ETFs 103
Avg. Expense Ratio 64.6 bp
Std. Deviation 29 bp
KWEB (69 bp) Percentile rank 57
Peer Group Expense Ratio Distribution


Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
KWEB 69.0 3.7 72.7
Peer Avg. 65.8 46.1 111.9
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .