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
8.1 B
ASSETS UNDER MGMT
69 bp
EXPENSES
Fund Basics
| Fund sponsor | Krane Fund Advisors LLC |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 31, 2013 |
| Assets (mns) | $8,077 |
| Expense ratio | 69 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
| ALIBABA GROUP HOLDING LTD. | 12.4 % |
| TENCENT HOLDINGS LTD | 10.9 % |
| MEITUAN DIANPING | 7.3 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 6.5 % |
| TRIP.COM GROUP LTD. | 4.5 % |
| KUAISHOU TECHNOLOGY CLASS B | 4.5 % |
| KANZHUN LTD. SPONSORED ADR | 3.9 % |
| KE HOLDINGS, INC. SPONSORED ADR CLASS A | 3.9 % |
| JD.COM, INC. CLASS A | 3.8 % |
| FULL TRUCK ALLIANCE CO LTD ADR | 3.7 % |
Constituent Breakdown
| Number of holdings | 30 |
| Herfindahl-Hirschman Index | 570 |
| Wgt avg mkt cap (mns) | $147,172 |
| Large cap (>$10bn) | 73.4% |
| Mid cap ($2-10bn) | 25.4% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 20.0% |
| Emerging mkts. | 80.0% |
Country Exposure
 |
CHINA | 92.9 % |
 |
HONG KONG | 2.2 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 16.0% | 38.4% | 10.6% | 2.2% | -4.7% | 2.3% | 3.9% | Volatility | 36.9% | 39.6% | 38.0% | 52.6% | 49.2% | 40.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.36 | 2% |
| MSCI EAFE | 1.12 | 16% |
| MSCI Emg Mkts | 2.14 | 60% |
Liquidity Measures
| Avg. volume (000) | 23,389 |
| Turnover | 10.1% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $3,254 |
Technical Indicators
| Recent close | $34.96 |
| 30d moving avg. | $35.74 |
| Annualized volatility | 48.1% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 14.0% |
| 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. KWEB |
Expenses vs. KWEB |
ALTAR Score™ vs. KWEB |
|---|---|---|---|---|
| KTEC | KraneShares Hang Seng TECH Index ETF | 52.5% | 0 bp | -6.1% |
| FDNI | First Trust Dow Jones International Internet ETF | 46.6% | -4 bp | -6.3% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 45.4% | +17 bp | -12.1% |
| FXI | iShares China Large-Cap ETF | 41.2% | +5 bp | -7.6% |
| CQQQ | Invesco China Technology ETF | 40.2% | +1 bp | -7.5% |
| TCHI | iShares MSCI China Multisector Tech ETF | 39.6% | -10 bp | -3.4% |
| MCHI | iShares MSCI China ETF | 39.2% | -10 bp | -7.9% |
| KEMQ | KraneShares Emerging Markets Consumer Technology Index ETF | 38.8% | -9 bp | -12.5% |
| MCH | Matthews China Active ETF | 38.8% | +10 bp | -10.5% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 38.7% | -37 bp | -8.0% |
Risk and Returns: KWEB 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/2/2025
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
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
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.
ALTAR Score™
KWEB
25.8%
Cat. Avg
9.9%
ALTAR Score™ Calculation
Category Overview
There are 156 funds in the Emerging Equity category, with an average ALTAR Score™
of 9.9% and a standard deviation of
4.1%. KWEB's ALTAR Score™ is approximately
3.9 standard deviations
above
the category average. This places KWEB in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KWEBSELL
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 |
| KWEB (69 bp) Percentile rank | 56 |
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. | 62.0 | 45.1 | 107.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .