KraneShares SSE STAR Market 50 Index ETF
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-10.6%
1 yr return
-32.9%
3 Yr Avg Return
-21.3%
5 Yr Avg Return
N/A
Net Assets
$26.1 M
Holdings in Top 10
45.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.89%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
KSTR - Profile
Distributions
- YTD Total Return -10.6%
- 3 Yr Annualized Total Return -21.3%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency N/A
Fund Details
-
Legal NameKraneShares SSE STAR Market 50 Index ETF
-
Fund Family NameKrane Funds Advisors, LLC
-
Inception DateJan 26, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerQiong Wan
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 includes the stocks of the top 50 companies by free-float market capitalizations listed on the SSE Science and Technology Innovation Board (the “STAR Board”). The STAR Board is a new listing exchange run by the Shanghai Stock Exchange that focuses on Chinese science and technology companies. According to the Shanghai Stock Exchange, companies listed on the STAR Board are mainly from high-tech and strategic emerging industries, and most focus on next-generation information technology, biomedicine, high-end equipment and similar industries.
To be eligible for inclusion in the Underlying Index, a STAR Board company’s securities must meet certain market capitalization and liquidity screens and have been trading for at least 11 days. Once included, Underlying Index constituents are weighted based on their free-float market capitalization on the STAR Board, subject to a 10% cap. Although, the Underlying Index is designed to include 50 constituents, it may include as few as 30 constituents, if there are an insufficient number of STAR Board companies whose securities satisfy the screening and trading requirements.
The stocks included in the Underlying Index will consist of China A-Shares. China A-Shares are Chinese renminbi (“RMB”)-denominated equity securities (“A-Shares”) issued by companies incorporated in mainland China. Direct investments in A-Shares are currently possible only through the trading and clearing facilities of a participating exchange located outside of mainland China (“Stock Connect Programs”) or Qualified Foreign Investor (“QFI”) license. Bosera Asset Management (International) Co., Ltd. (“Bosera”), the Fund’s sub-adviser, has received a license as a QFI from the China Securities Regulatory Commission (“CSRC”). In addition, the Fund may invest in A-Shares through the Stock Connect Programs.
The Fund may invest up to 20% of its assets in instruments that are not included in the Underlying Index, but that the Fund’s investment adviser, Krane Funds Advisors, LLC (“Krane” or “Adviser”) and/or Bosera 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). Certain other investment companies in which the Fund may invest may be advised, sponsored or otherwise serviced by Krane, Bosera and/or their affiliates.
In addition to China A-Shares, which are described above, the following China-related securities may be included in this 20% basket:
| ● | 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 50 securities of companies with a total market capitalization of $379.3 billion, a capitalization range of approximately $1.5 billion to $30.4 billion and an average market capitalization of approximately $7.6 billion.
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. As of May 31, 2023, issuers in the Information Technology sector (62.8%), Industrials sector (24.6%) and Health Care sector (4.8%) represented significant portions of the Underlying Index. The Underlying Index is rebalanced and reconstituted quarterly.
The Fund may engage in securities lending.
KSTR - Performance
Return Ranking - Trailing
| Period | KSTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.6% | -16.7% | 11.8% | 98.46% |
| 1 Yr | -32.9% | -35.2% | 19.7% | 98.36% |
| 3 Yr | -21.3%* | -23.1% | 23.2% | N/A |
| 5 Yr | N/A* | -18.1% | 15.1% | N/A |
| 10 Yr | N/A* | -13.3% | 11.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | KSTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -17.9% | -40.5% | 25.8% | N/A |
| 2022 | -38.5% | -28.6% | 30.5% | N/A |
| 2021 | N/A | -6.6% | 33.6% | N/A |
| 2020 | N/A | -34.7% | 11.1% | N/A |
| 2019 | N/A | -13.7% | 32.0% | N/A |
Total Return Ranking - Trailing
| Period | KSTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -10.6% | -26.8% | 11.8% | 99.23% |
| 1 Yr | -32.9% | -35.2% | 19.7% | 98.36% |
| 3 Yr | -21.3%* | -23.1% | 23.2% | N/A |
| 5 Yr | N/A* | -16.2% | 15.1% | N/A |
| 10 Yr | N/A* | -13.3% | 11.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | KSTR Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -17.9% | -40.5% | 25.8% | N/A |
| 2022 | -38.5% | -28.6% | 30.5% | N/A |
| 2021 | N/A | -6.6% | 33.6% | N/A |
| 2020 | N/A | -34.7% | 11.1% | N/A |
| 2019 | N/A | -13.7% | 32.0% | N/A |
KSTR - Holdings
Concentration Analysis
| KSTR | Category Low | Category High | KSTR % Rank | |
|---|---|---|---|---|
| Net Assets | 26.1 M | 1.4 M | 6.58 B | 54.96% |
| Number of Holdings | 51 | 6 | 961 | 52.34% |
| Net Assets in Top 10 | 13.8 M | 706 K | 4.22 B | 48.44% |
| Weighting of Top 10 | 45.78% | 6.6% | 99.9% | 47.66% |
Top 10 Holdings
- BEIJING KINGSOFT OFFICE SO-A COMMON STOCK 7.39%
- HYGON INFORMATION TECHNOLO-A COMMON STOCK 6.62%
- SHANGHAI UNITED IMAGING HE-A COMMON STOCK 5.58%
- MONTAGE TECHNOLOGY CO LTD-A COMMON STOCK 5.42%
- ADVANCED MICRO-FABRICATION-A COMMON STOCK 4.84%
- SHENZHEN TRANSSION HOLDING-A COMMON STOCK 4.52%
- TRINA SOLAR CO LTD-A COMMON STOCK 3.14%
- NATIONAL SILICON INDUSTRY -A COMMON STOCK 2.89%
- CAMBRICON TECHNOLOGIES-A COMMON STOCK 2.85%
- SUPCON TECHNOLOGY CO-A COMMON STOCK 2.53%
Asset Allocation
| Weighting | Return Low | Return High | KSTR % Rank | |
|---|---|---|---|---|
| Stocks | 99.40% | 0.00% | 102.18% | 26.36% |
| Cash | 0.60% | -2.18% | 11.89% | 72.66% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 7.81% |
| Other | 0.00% | 0.00% | 47.32% | 22.66% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 12.50% |
| Bonds | 0.00% | 0.00% | 69.90% | 13.18% |
KSTR - Expenses
Operational Fees
| KSTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | 3.14% | 60.00% |
| Management Fee | 0.88% | 0.09% | 1.50% | 64.12% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 5.66% |
| Administrative Fee | N/A | 0.06% | 0.26% | N/A |
Sales Fees
| KSTR 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
| KSTR 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.
| KSTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 4.00% | 278.00% | N/A |
KSTR - Distributions
Dividend Yield Analysis
| KSTR | Category Low | Category High | KSTR % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 22.09% | 54.20% |
Dividend Distribution Analysis
| KSTR | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Monthly | Annually |
Net Income Ratio Analysis
| KSTR | Category Low | Category High | KSTR % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -1.76% | 4.74% | 93.60% |
Capital Gain Distribution Analysis
| KSTR | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
KSTR - Fund Manager Analysis
Managers
Qiong Wan
Start Date
Tenure
Tenure Rank
Jan 27, 2021
1.34
1.3%
Mrs. Qiong Wan, a Fund Manager at Bosera, worked in various capacities ranging from accounting to fund management. Mrs. Wan has more than ten years of work experience in the financial services industry and joined Bosera in March 2011 as a fund manager assistant on the Index & Quant Team. From December 2013 to June 2015, she served as a backup fund manager of the Bosera FTSE China A50 Index ETF, and from June 2015 to May 2016, she served as a fund manager on the Index & Quant Team. Mrs. Wan graduated with a Bachelor of Business Administration from Central South University in June 2004 and earned a Master of Science in Quantitative Economics from Central South University in May 2009.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 28.32 | 4.11 | 3.22 |