KraneShares FTSE Emerging Markets Plus ETF
ALTAR
Score™
8.3% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
14.3x P/Sales
ratio
1.3x
P/BV
ratio
1.6x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
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.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Krane Fund Advisors LLC
Website www.kraneshares.com
Inception date Feb 12, 2015
Assets (mns) $6
Currency USD
Expense ratio 49 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Brown Brothers Harriman & Co
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 286
Wgt avg mkt cap (mns) $196,878
Large cap (>$10bn) 81.7%
Mid cap ($2-10bn) 18.1%
Small cap (<$2bn) 0.1%
Developed mkts 16.1%
Emerging mkts 83.9%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 11.8 %
TENCENT HOLDINGS LTD 10.7 %
JD.COM INC-ADR 2.7 %
KWEICHOW MOUTAI CO LTD-A 2.4 %
MEITUAN DIANPING 2.2 %
CHINA CONSTRUCTION BANK-H 1.9 %
PING AN INSURANCE GROUP CO-H 1.7 %
NIO INC. SPONSORED ADR CLASS A 1.7 %
NETEASE.COM INC-ADR 1.3 %
CHINA MOBILE LIMITED 1.2 %
Total 37.6 %

TOP COUNTRY EXPOSURE
CHINA 90.7 %
HONG KONG 8.7 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
18.3% 35.1% 9.7% -- 6.0%

Market Correlations
versus... Beta R-squared
S&P500 0.80 47%
MSCI EAFE 0.92 51%
MSCI Emg. Mkts. 0.84 68%

Technical Indicators
Recent close $30.06
30d moving avg. $30.78
Annualized volatility 20.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 48

Liquidity measures
Avg. volume (thou.) 2
Turnover 1.0%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $6,142

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the KraneShares FTSE Emerging Markets Plus ETF ETF based on the alternatives' overlap in portfolio holdings with KALL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KALL Expense: 49 bp ALTAR Score™: 8.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KALL
Ticker Fund
Name
Overlap1
vs KALL
(%)
Expense
ratio
(bp)
Savings
vs KALL
(bp)
ALTAR
Score™
(%)
ALTAR
vs KALL
(%)
MCHI iShares MSCI China ETF 65.7 59 -10 8.1 -0.2
FLCH Franklin FTSE China ETF 65.4 19 30 8.6 +0.3
GXC SPDR S&P China ETF 65.3 59 -10 8.3 +0.1
BKF iShares MSCI BRIC ETF 58.3 69 -20 7.7 -0.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 55.3 32 17 6.1 -2.2
CHIL Global X MSCI China Large-Cap 50 ETF 52.2 29 20 8.0 -0.3
CN Xtrackers MSCI All China Equity ETF 50.5 50 -1 8.4 +0.1
GMF SPDR S&P Emerging Asia Pacific ETF 43.3 49 0 7.5 -0.8
EEMA iShares MSCI Emerging Markets Asia ETF 42.6 50 -1 7.8 -0.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 39.6 68 -19 7.2 -1.1
PBEE Invesco PureBeta FTSE Emerging Markets ETF 38.4 15 34 8.9 +0.6
SCHE Schwab Emerging Markets Equity ETF 38.3 11 38 8.2 -0.1
FLAX Franklin FTSE Asia Ex Japan ETF 37.8 19 30 7.9 -0.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 37.8 30 19 7.9 -0.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 37.4 32 17 6.0 -2.3
EEM iShares MSCI Emerging Markets ETF 35.6 68 -19 7.6 -0.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 35.3 65 -16 7.6 -0.7
VWO Vanguard FTSE Emerging Markets ETF 34.2 10 39 8.2 -0.1
SPEM SPDR Portfolio Emerging Markets ETF 34.1 11 38 8.1 -0.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 33.3 20 29 7.0 -1.3
ASHX Xtrackers MSCI China A Inclusion Equity ETF 32.7 60 -11 6.9 -1.4
CNYA iShares MSCI China A ETF 32.6 60 -11 6.7 -1.6
KBA KraneShares Bosera MSCI China A Share ETF 32.6 60 -11 6.8 -1.5
ESGE iShares ESG MSCI EM ETF 32.6 25 24 8.8 +0.5
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 32.4 65 -16 7.2 -1.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 32.1 36 13 7.7 -0.6
IEMG iShares Core MSCI Emerging Markets ETF 32.1 13 36 8.1 -0.2
JHEM John Hancock Multifactor Emerging Markets ETF 31.8 49 0 8.8 +0.5
EEMO Invesco S&P Emerging Markets Momentum ETF 31.2 29 20 6.5 -1.8
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 30.8 45 4 7.7 -0.6
KWEB KraneShares CSI China Internet ETF 30.1 76 -27 2.0 -6.3
NUEM Nuveen ESG Emerging Markets Equity ETF 29.8 45 4 7.1 -1.2
BKEM BNY Mellon Emerging Markets Equity ETF 29.1 11 38 8.6 +0.3
FDNI First Trust Dow Jones International Internet ETF 28.2 65 -16 2.2 -6.1
DVEM WisdomTree Emerging Markets Dividend Fund 27.8 32 17 7.4 -0.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 27.4 95 -46 8.4 +0.1
ISEM Invesco Strategic Emerging Markets ETF 27.3 35 14 11.1 +2.8
PXH Invesco FTSE RAFI Emerging Markets ETF 27.0 50 -1 13.9 +5.6
FXI iShares China Large-Cap ETF 26.5 74 -25 14.0 +5.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 26.2 86 -37 2.3 -6.0
AVEM Avantis Emerging Markets Equity ETF 25.5 33 16 9.1 +0.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 24.7 30 19 9.0 +0.7
ECON Columbia Emerging Markets Consumer ETF 24.5 59 -10 4.6 -3.7
CHIQ Global X China Consumer ETF 24.3 65 -16 7.4 -0.9
TTTN UP Fintech China-U.S. Internet Titans ETF 24.1 59 -10 4.3 -4.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 22.9 40 9 7.4 -0.9
AIA iShares Asia 50 ETF 22.5 50 -1 8.2 -0.1
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 22.4 18 31 5.5 -2.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 22.0 25 24 8.1 -0.2
PEK VanEck Vectors ChinaAMC CSI 300 ETF 20.9 60 -11 7.2 -1.1
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 20.4 32 17 9.2 +0.9
EMMF WisdomTree Emerging Markets Multifactor Fund 20.0 48 1 9.7 +1.4
FNI First Trust Chindia ETF 19.4 60 -11 2.6 -5.7
FDEM Fidelity Targeted Emerging Markets Factor ETF 19.0 45 4 8.8 +0.5
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 18.6 39 10 13.5 +5.2
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 18.0 59 -10 11.4 +3.1
CQQQ Invesco China Technology ETF 17.9 70 -21 4.1 -4.2
PGJ Invesco Golden Dragon China ETF 17.7 70 -21 3.3 -5.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 17.3 49 0 8.1 -0.2
BICK First Trust BICK Index Fund 16.7 64 -15 4.6 -3.7
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 16.7 45 4 9.2 +0.9
CHIX Global X China Financials ETF 16.3 66 -17 20.7 +12.4
GBUY Goldman Sachs Motif New Age Consumer ETF 16.1 50 -1 1.8 -6.5
OGIG O'Shares Global Internet Giants ETF 15.7 48 1 0.8 -7.5
DINT Davis Select International ETF 14.9 68 -19 6.1 -2.2
PNQI Invesco NASDAQ Internet ETF 14.7 60 -11 1.0 -7.3
CHIC Global X Nasdaq China Technology ETF 14.5 66 -17 4.2 -4.1
AFTY Pacer CSOP FTSE China A50 ETF 14.4 70 -21 9.5 +1.2
GIGE SoFi Gig Economy ETF 13.0 59 -10 -0.7 -9.0
DWLD Davis Select Worldwide ETF 12.5 63 -14 6.7 -1.6
ROAM Hartford Multifactor Emerging Markets ETF 12.5 44 5 13.4 +5.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 12.4 44 5 9.2 +0.9
PIE Invesco DWA Emerging Markets Momentum ETF 12.2 90 -41 5.0 -3.3
BUYZ Franklin Disruptive Commerce ETF 11.8 50 -1 -0.2 -8.4
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 11.5 16 33 6.9 -1.4
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 11.5 60 -11 4.5 -3.8
VSGX Vanguard ESG International Stock ETF 11.4 17 32 7.1 -1.2
DEM WisdomTree Emerging Markets High Dividend Fund 11.3 63 -14 15.4 +7.1
SOCL Global X Social Media ETF 11.1 65 -16 1.8 -6.5
RNEM Emerging Markets Equity Select ETF 10.9 75 -26 12.4 +4.1
ACWX iShares MSCI ACWI ex U.S. ETF 10.8 32 17 7.3 -1.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 10.7 50 -1 10.7 +2.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 10.3 40 9 7.1 -1.2
JOYY Infusive Compounding Global Equities ETF 10.0 50 -1 6.1 -2.2
CWI SPDR MSCI ACWI ex-US ETF 10.0 30 19 7.2 -1.1
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 9.9 45 4 14.7 +6.4
IXP iShares Global Comm Services ETF 9.8 46 3 5.8 -2.5
VEU Vanguard FTSE All-World ex-US Index Fund 9.6 8 41 7.6 -0.7
EBIZ Global X E-Commerce ETF 9.5 50 -1 2.7 -5.6
ESPO VanEck Vectors Video Gaming & eSports ETF 9.5 55 -6 2.6 -5.7
IXUS ishares Core MSCI Total International Stock ETF 9.2 9 40 7.4 -0.9
GENY Principal Millennials Index ETF 9.2 45 4 4.1 -4.2
AIQ Global X Future Analytics Tech ETF 9.0 68 -19 4.1 -4.2
BLOK Amplify Transformational Data Sharing ETF 8.9 70 -21 4.4 -3.9
VXUS Vanguard Total International Stock Index Fund 8.4 8 41 7.5 -0.8
FCA First Trust China AlphaDEX Fund 8.4 80 -31 15.0 +6.8
VIGI Vanguard International Dividend Appreciation ETF 8.3 20 29 5.5 -2.8
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.2 68 -19 3.7 -4.6
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 8.1 20 29 11.5 +3.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
KraneShares FTSE Emerging Markets Plus ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.4 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 8.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.29 CATEGORY
AVERAGE
1.44
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.