OBOR

KraneShares MSCI One Belt One Road Index ETF

The KraneShares MSCI One Belt One Road ETF seeks to provide investment results that track the price and yield performance of the MSCI Global China Infrastructure Exposure Index. The Index aims to identify potential beneficiaries of the One Belt One Road initiative based on how their geography, revenue, and sector attributes align with the broad theme.


Passive, Diverse

MANAGEMENT MATRIX

CHII

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorKraneShares
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateSep 07, 2017
Assets (mns)$4
Expense ratio79 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
KUWAIT FINANCE HOUSE 6.6 %
OVERSEA-CHINESE BANKING CORP 4.7 %
PTT PUBLIC CO., LTD. 3.4 %
CHINA YANGTZE POWER CO LTD-A 2.8 %
ELBIT SYSTEMS LTD 2.0 %
TURK HAVA YOLLARI AO 1.8 %
PETRONAS CHEMICALS GROUP BHD 1.6 %
CHINA PETROLEUM & CHEMICAL-H 1.6 %
KGHM POLSKA MIEDZ S.A. 1.5 %
ISRAEL CHEMICALS LTD 1.4 %
Constituent Breakdown
Number of holdings140
Herfindahl-Hirschman Index 83,934
Wgt avg mkt cap (mns)$17,323
Large cap (>$10bn)50.5%
Mid cap ($2-10bn)46.1%
Small cap (<$2bn)3.4%
Developed mkts.20.2%
Emerging mkts.79.8%
Country Exposure
CHINA 26.9 %
SINGAPORE 7.6 %
KUWAIT 6.6 %
THAILAND 3.9 %
ISRAEL 3.8 %
PHILIPPINES 3.7 %
INDIA 2.6 %
INDONESIA 2.6 %
MALAYSIA 2.2 %
HONG KONG 2.2 %
Historical Performance


Standardized Annual Returns (as of 11/30/2023)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-10.3% -12.8% -15.0% -3.5% 1.5% -- -0.4%
Market Correlations
versus...BetaR-squared
S&P 5000.5133%
MSCI EAFE0.7159%
MSCI Emg Mkts0.7267%
Liquidity Measures
Avg. volume (000)1
Turnover0.5%
Avg. Bid/Ask (% of price)0.14%
ADV of underlying (mns)$4,090
Technical Indicators
Recent close$20.38
30d moving avg.$20.36
Annualized volatility15.8%
Relative strength (RSI)42
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. OBOR
Expenses
vs. OBOR
ALTAR Score™
vs. OBOR
CHII Global X MSCI China Industrials ETF   11.2%   -14 bp +1.4%
CHIU Global X MSCI China Utilities ETF   10.3%   -13 bp -0.9%
Risk and Returns: OBOR 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
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends 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
  2022 2023E Fwd Est 2024E
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 --%
0.7 9.5 1.0 4.3% --
Based on closing prices from 11/30/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
OBOR



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™

OBOR

12.0%

Cat. Avg

7.0%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™12.0%
Recommendation

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

Category Overview
There are 176 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 7.0% and a standard deviation of 4.2%. OBOR's ALTAR Score™ is approximately 1.2 standard deviations above the category average. This places OBOR in the 88th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
OBOR
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
OBOR 79.0 14.1 93.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.