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Trending ETFs

KraneShares MSCI All China Health Care Index ETF

ETF
KURE
Payout Change
Pending
Price as of:
$14.0344 +0.2 +1.44%
primary theme
China Region Equity
KURE (ETF)

KraneShares MSCI All China Health Care Index ETF

Payout Change
Pending
Price as of:
$14.0344 +0.2 +1.44%
primary theme
China Region Equity
KURE (ETF)

KraneShares MSCI All China Health Care Index ETF

Payout Change
Pending
Price as of:
$14.0344 +0.2 +1.44%
primary theme
China Region Equity

Name

As of 04/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.03

$50.6 M

0.80%

$0.11

0.79%

Vitals

YTD Return

-19.8%

1 yr return

-32.4%

3 Yr Avg Return

-27.3%

5 Yr Avg Return

-6.3%

Net Assets

$50.6 M

Holdings in Top 10

41.0%

52 WEEK LOW AND HIGH

$13.8
$13.69
$21.02

Expenses

OPERATING FEES

Expense Ratio 0.79%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 45.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 04/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.03

$50.6 M

0.80%

$0.11

0.79%

KURE - Profile

Distributions

  • YTD Total Return -19.8%
  • 3 Yr Annualized Total Return -27.3%
  • 5 Yr Annualized Total Return -6.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.25%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    KraneShares MSCI All China Health Care Index ETF
  • Fund Family Name
    Krane Funds Advisors, LLC
  • Inception Date
    Jan 31, 2018
  • Shares Outstanding
    5448971
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jonathan Shelon

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in instruments in its Underlying Index or in instruments that have economic characteristics similar to those in the Underlying Index. The Underlying Index is a free float adjusted market capitalization weighted index, subject to the 10/40 Constraint (as defined below), which is designed to measure the equity market performance of Chinese companies in the healthcare sector, as classified by the Global Industry Classification Standard. The securities eligible for inclusion in the Underlying Index include all types of publicly issued shares of Chinese issuers, such as A-Shares, B-Shares, H-Shares, P-Chips and Red Chips, which are described below. The issuers included in the Underlying Index may include mid-cap and large-cap companies.

To determine the investable universe of Chinese equity securities for the Underlying Index, the index provider, MSCI, Inc. (“Index Provider”), applies investibility screens to securities within the healthcare sector based on the MSCI Global Investable Market Indexes Methodology, along with MSCI’s investability and minimum size criteria for emerging markets. To be included in the Underlying Index, at the time of each rebalance, securities must, among other things: (1) be within the top 85% of the investable universe (based on market capitalization); and (2) meet certain liquidity requirements as measured by the three-month annual traded value ratio, the twelve-month annual traded value ratio and three-month frequency of trading percentage.

Underlying Index constituents are weighted by the security’s free-float adjusted market capitalization, as calculated based on MSCI’s Foreign Inclusion Factor (“FIF”) and subject to Foreign Ownership Limits (“FOLs”), but is modified so that, as of the rebalance date, no issuer constitutes more than 10% of the Underlying Index and so that the cumulative weight of all constituents with a weight of over 5% does not exceed 40% of the Underlying Index (“10/40 Constraint”). The FIF of a security is defined as the proportion of shares outstanding that is available for investment in the public equity markets by foreign investors. For China A-Shares, an FIF of 100% is applied to their free-float adjusted market capitalization for calculating their final weight in the Underlying Index. The FOL of a security is defined as the proportion of share capital of the security that is available for purchase to foreign investors.

The Fund may invest up to 20% of its assets in instruments that are not included in the Underlying Index, but that Krane believes will help the Fund track the Underlying Index. These investments may include equity securities and depositary receipts of issuers whose securities are not constituents of the Underlying Index, derivative instruments (including swaps, futures, forwards, structured notes and options), other investment companies (including exchange traded funds or “ETFs”) and cash or cash equivalents (including money market funds). The other investment companies in which the Fund may invest may be advised, sponsored or otherwise serviced by Krane and/or its affiliates.

The following China-related securities may be included in the Underlying Index and/or represent investments of the Fund:

China A-Shares, which are shares of companies incorporated in mainland China that are traded on the Chinese exchanges and denominated in domestic renminbi. China A-Shares are primarily purchased and sold in the domestic Chinese market. To the extent the Fund invests in China A-Shares, it expects to do so through the trading and clearing facilities of a participating exchange located outside of mainland China (“Stock Connect Programs”). A Qualified Foreign Investor (“QFI”) license may also be acquired to invest directly in China A-Shares.
China B-Shares, which are shares of companies listed on the Shanghai or Shenzhen Stock Exchange but quoted and traded in foreign currencies (such as Hong Kong Dollars or U.S. Dollars), which were primarily created for trading by foreign investors.
China H-Shares, which are shares of companies incorporated in mainland China and listed on the Hong Kong Stock Exchange (“H-Shares”), where they are traded in Hong Kong dollars and may be traded by foreign investors.
China N-Shares, which are shares of companies with business operations in mainland China and listed on an American stock exchange, such as NYSE or NASDAQ (“N-Shares”).
P-Chips, which are shares of private sector companies with a majority of their business operations in mainland China and controlling private Chinese shareholders, which are incorporated outside of mainland China and traded on the Hong Kong Stock Exchange in Hong Kong dollars.
Red Chips, which are shares of companies with a majority of their business operations in mainland China and controlled by the central, provincial or municipal governments of the PRC, whose shares are traded on the Hong Kong Stock Exchange in Hong Kong dollars.
S-Chips, which are shares of companies with business operations in mainland China and listed on the Singapore Exchange. S-Chip shares are issued by companies incorporated anywhere, but many are registered in Singapore, the British Virgin Islands, the Cayman Islands, or Bermuda.

Although the Fund reserves the right to replicate (or hold all constituents of) the Underlying Index, the Fund expects to use representative sampling to track the Underlying Index. “Representative sampling” is a strategy that involves investing in a representative sample of securities that collectively have an investment profile similar to the Underlying Index.

As of May 31, 2023, the Underlying Index included 85 securities of companies with a market capitalization range of approximately $478 million to $18.4 billion and an average market capitalization of approximately $2.7 billion. The Underlying Index is rebalanced quarterly and whenever the 10/40 Constraint is breached, which may occur due to market movements.

The Fund is non-diversified. To the extent the Underlying Index is concentrated in a particular industry, the Fund is expected to be concentrated in that industry. The Underlying Index includes securities of issuers engaged in the healthcare sector, but its exposure to the industries within that sector are not fixed and subject to change.

The Fund may engage in securities lending.

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KURE - Performance

Return Ranking - Trailing

Period KURE Return Category Return Low Category Return High Rank in Category (%)
YTD -19.8% -19.8% 6.4% 100.00%
1 Yr -32.4% -32.6% 17.2% 97.96%
3 Yr -27.3%* -28.4% 0.2% 94.38%
5 Yr -6.3%* -16.6% 12.8% 60.81%
10 Yr N/A* -5.0% 8.5% 50.00%

* Annualized

Return Ranking - Calendar

Period KURE Return Category Return Low Category Return High Rank in Category (%)
2023 -18.2% -26.6% 26.3% 51.02%
2022 -25.5% -41.6% -9.4% 34.07%
2021 -26.5% -52.5% 26.5% 90.91%
2020 69.0% 1.3% 138.5% 3.95%
2019 34.0% -1.9% 42.6% 20.27%

Total Return Ranking - Trailing

Period KURE Return Category Return Low Category Return High Rank in Category (%)
YTD -19.8% -19.8% 6.4% 100.00%
1 Yr -32.4% -32.6% 17.2% 97.96%
3 Yr -27.3%* -28.4% 0.2% 94.38%
5 Yr -6.3%* -16.6% 12.8% 60.81%
10 Yr N/A* -5.0% 8.5% N/A

* Annualized

Total Return Ranking - Calendar

Period KURE Return Category Return Low Category Return High Rank in Category (%)
2023 -17.7% -25.7% 30.1% 57.14%
2022 -25.4% -40.4% -6.8% 43.96%
2021 -15.8% -48.9% 29.5% 72.73%
2020 69.0% 2.0% 138.5% 6.58%
2019 34.3% 7.8% 44.4% 28.38%

KURE - Holdings

Concentration Analysis

KURE Category Low Category High KURE % Rank
Net Assets 50.6 M 1.04 M 5.43 B 48.98%
Number of Holdings 92 27 1185 16.84%
Net Assets in Top 10 24.8 M 534 K 3.2 B 45.26%
Weighting of Top 10 41.02% 4.9% 81.8% 70.53%

Top 10 Holdings

  1. SHENZHEN MINDRAY BIO-MEDIC-A COMMON STOCK 6.65%
  2. WUXI BIOLOGICS CAYMAN INC COMMON STOCK 6.43%
  3. JIANGSU HENGRUI PHARMACEUT-A COMMON STOCK 5.33%
  4. BEIGENE LTD COMMON STOCK 4.39%
  5. CSPC PHARMACEUTICAL GROUP LT COMMON STOCK 3.71%
  6. WUXI APPTEC CO LTD-A COMMON STOCK 3.50%
  7. INNOVENT BIOLOGICS INC COMMON STOCK 3.02%
  8. AIER EYE HOSPITAL GROUP CO-A COMMON STOCK 2.72%
  9. CHONGQING ZHIFEI BIOLOGICA-A COMMON STOCK 2.71%
  10. ZHANGZHOU PIENTZEHUANG PHA-A COMMON STOCK 2.56%

Asset Allocation

Weighting Return Low Return High KURE % Rank
Stocks
98.42% 0.00% 101.98% 60.42%
Cash
1.58% 0.00% 26.31% 51.58%
Preferred Stocks
0.00% 0.00% 2.81% 9.47%
Other
0.00% -0.02% 47.32% 17.89%
Convertible Bonds
0.00% 0.00% 0.15% 9.57%
Bonds
0.00% 0.00% 69.90% 4.17%

Stock Sector Breakdown

Weighting Return Low Return High KURE % Rank
Healthcare
100.00% 0.00% 100.00% 1.06%
Utilities
0.00% 0.00% 11.37% 47.87%
Technology
0.00% 0.00% 58.02% 98.94%
Real Estate
0.00% 0.00% 22.12% 81.91%
Industrials
0.00% 0.00% 36.69% 100.00%
Financial Services
0.00% 0.00% 41.62% 93.62%
Energy
0.00% 0.00% 19.38% 45.74%
Communication Services
0.00% 0.00% 41.06% 84.04%
Consumer Defense
0.00% 0.00% 20.13% 97.87%
Consumer Cyclical
0.00% 0.00% 95.37% 100.00%
Basic Materials
0.00% 0.00% 19.86% 86.17%

Stock Geographic Breakdown

Weighting Return Low Return High KURE % Rank
Non US
96.47% 0.00% 99.82% 22.11%
US
1.95% 0.00% 99.99% 68.42%

KURE - Expenses

Operational Fees

KURE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.09% 12.20% 76.84%
Management Fee 0.78% 0.09% 1.50% 33.67%
12b-1 Fee 0.00% 0.00% 1.00% 5.26%
Administrative Fee N/A 0.06% 0.25% N/A

Sales Fees

KURE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

KURE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

KURE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 45.00% 4.00% 241.00% 38.75%

KURE - Distributions

Dividend Yield Analysis

KURE Category Low Category High KURE % Rank
Dividend Yield 0.80% 0.00% 9.80% 64.29%

Dividend Distribution Analysis

KURE Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

KURE Category Low Category High KURE % Rank
Net Income Ratio -0.25% -1.76% 3.66% 65.96%

Capital Gain Distribution Analysis

KURE Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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KURE - Fund Manager Analysis

Managers

Jonathan Shelon


Start Date

Tenure

Tenure Rank

Aug 01, 2018

3.83

3.8%

Jonathan Shelon, Managing Partner and Chief Operating Officer at Krane, also serves as a portfolio manager of each Fund and supports Mr. Schlarbaum and Krane’s investment team with respect to each Fund. Mr. Shelon has been a portfolio manager of each Fund since August 2018 (in the case of KraneShares CSI China Internet ETF, KraneShares Electric Vehicles and Future Mobility Index ETF, KraneShares Emerging Markets Consumer Technology Index ETF, KraneShares MSCI All China Healthcare Index ETF, KraneShares MSCI All China Index ETF, KraneShares MSCI China Environment Index ETF, KraneShares MSCI One Belt One Road Index ETF and KraneShares Zacks New China ETF) or since inception (in the case of KraneShares Emerging Markets Healthcare Index ETF, KraneShares MSCI All China Consumer Discretionary Index ETF, KraneShares MSCI All China Consumer Staples Index ETF and KraneShares MSCI China A Inclusion Hedged Index ETF,). Mr. Shelon joined Krane in 2015 as a Managing Partner. Mr. Shelon has spent the majority of his career managing investment portfolios and diverse teams at leading asset management organizations. Most recently, he was the Chief Investment Officer of a 40-person global Specialized Strategies Team at J.P. Morgan with $40 billion AUM. Prior to joining J.P. Morgan, Mr. Shelon spent ten years as a portfolio manager at Fidelity Investments since 2001 where he was responsible for the investment performance, process and evolution of their target-date strategies for retirement savings, college savings and income generation. Prior to joining, he was a quantitative consultant at Callan Associates, Inc.

James Maund


Start Date

Tenure

Tenure Rank

Jan 14, 2020

2.38

2.4%

James Maund, Head of Capital Markets at Krane Funds Advisors LLC. He joined the Krane Funds Advisors in 2020 and has been in the investment management industry since 2005. Previously, he was a Vice President in the Institutional ETF Group and a member of the ETF Capital Markets Group at State Street Global Advisors (2010-2019); and an ETF trader at Goldman Sachs & Co (2005-2010). Mr. Maund graduated with a bachelor’s degree in economics from Wesleyan University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 24.1 3.69 3.22