KALL
KraneShares MSCI All China Index ETF
KALL seeks to provide investment results that, before fees and expenses, track the price performance of the MSCI China All Shares Index. The index seeks to track the equity market performance of companies based in China and listed in mainland China, Hong Kong, and the United States.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
10.6 M
ASSETS UNDER MGMT
49 bp
EXPENSES
Fund Basics
| Fund sponsor | Krane Fund Advisors LLC |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 12, 2015 |
| Assets (mns) | $11 |
| Expense ratio | 49 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Semi-Annually |
| 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
| TENCENT HOLDINGS LTD | 9.0 % |
| ALIBABA GROUP HOLDING LTD. | 4.9 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 2.7 % |
| KWEICHOW MOUTAI CO LTD-A | 2.5 % |
| MEITUAN DIANPING | 2.4 % |
| CHINA CONSTRUCTION BANK-H | 2.3 % |
| BYD CO LTD-H | 1.4 % |
| BANK OF CHINA LTD - H | 1.4 % |
| IND & COMM BK OF CHINA - H | 1.4 % |
| NETEASE, INC | 1.3 % |
Constituent Breakdown
| Number of holdings | 201 |
| Herfindahl-Hirschman Index | 175 |
| Wgt avg mkt cap (mns) | $118,719 |
| Large cap (>$10bn) | 87.3% |
| Mid cap ($2-10bn) | 12.6% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 16.1% |
| Emerging mkts. | 83.9% |
Country Exposure
 |
CHINA | 94.2 % |
 |
HONG KONG | 5.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 17.5% | 17.2% | 16.6% | -7.9% | 0.6% | -- | 0.9% | Volatility | 31.3% | 29.7% | 27.9% | 29.2% | 28.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.34 | 4% |
| MSCI EAFE | 0.72 | 18% |
| MSCI Emg Mkts | 1.35 | 60% |
Liquidity Measures
| Avg. volume (000) | 6 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.35% |
| ADV of underlying (mns) | $31,151 |
Technical Indicators
| Recent close | $21.23 |
| 30d moving avg. | $22.35 |
| Annualized volatility | 30.3% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 2.2% |
| 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. KALL |
Expenses vs. KALL |
ALTAR Score™ vs. KALL |
|---|---|---|---|---|
| MCHI | iShares MSCI China ETF | 58.7% | +10 bp | -0.6% |
| FLCH | Franklin FTSE China ETF | 58.3% | -30 bp | -0.1% |
| GXC | SPDR S&P China ETF | 51.4% | +10 bp | -0.7% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 44.4% | -17 bp | -3.0% |
| BKF | iShares MSCI BIC ETF | 41.2% | +20 bp | -2.0% |
| FXI | iShares China Large-Cap ETF | 39.1% | +25 bp | -0.7% |
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | 38.3% | +16 bp | -1.3% |
| MCH | Matthews China Active ETF | 38.0% | +30 bp | -3.7% |
| CNYA | iShares MSCI China A ETF | 36.0% | +11 bp | -1.2% |
| JCHI | JPMorgan Active China ETF | 35.7% | +16 bp | -1.0% |
Risk and Returns: KALL 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 11/13/2024
Peer Group Comparison Sample data. Subscribe for access.
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
KALL
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
KALL
9.0%
Cat. Avg
7.7%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. KALL's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places KALL in the 62nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KALLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| KALL (49 bp) Percentile rank | 30 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| KALL | 49.0 | 35.2 | 84.2 |
| Peer Avg. | 47.4 | 39.4 | 86.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .