KraneShares FTSE Emerging Markets Plus ETF
ALTAR
Score™
9.0% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
12.9x P/Sales
ratio
1.2x
P/BV
ratio
1.5x Div.
yield
2.4%


  • 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 13, 2015
Assets (mns) $5
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 289
Wgt avg mkt cap (mns) $152,339
Large cap (>$10bn) 78.2%
Mid cap ($2-10bn) 20.9%
Small cap (<$2bn) 0.7%
Developed mkts 16.0%
Emerging mkts 84.0%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. SPONSOR 10.7 %
TENCENT HOLDINGS LTD 10.5 %
CHINA CONSTRUCTION BANK-H 2.7 %
KWEICHOW MOUTAI CO LTD-A 2.3 %
JD.COM INC-ADR 2.3 %
PING AN INSURANCE GROUP CO-H 2.0 %
CHINA MOBILE LIMITED 1.5 %
IND & COMM BK OF CHINA - H 1.5 %
NETEASE.COM INC-ADR 1.3 %
BAIDU INC - SPON ADR 1.0 %
Total 35.9 %

TOP COUNTRY EXPOSURE
CHINA 88.7 %
HONG KONG 10.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-6.2% 9.3% 0.3% -- 1.7%

Market Correlations
versus... Beta R-squared
S&P500 0.76 45%
MSCI EAFE 0.87 51%
MSCI Emg. Mkts. 0.80 65%

Technical Indicators
Recent close $26.13
30d moving avg. $24.77
Annualized volatility 19.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.5%
Bid/Ask (% of price) 0.40%
ADV underlying (mns) $26,905

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 9.0%


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
(%)
WCHN WisdomTree ICBCCS S&P China 500 Fund 69.6 55 -6 9.2 +0.2
MCHI iShares MSCI China ETF 66.7 59 -10 9.0 -0.1
GXC SPDR S&P China ETF 65.6 59 -10 8.8 -0.2
FLCH Franklin FTSE China ETF 63.6 19 30 9.1 +0.1
BKF iShares MSCI BRIC ETF 59.1 69 -20 8.3 -0.7
CN Xtrackers MSCI All China Equity ETF 52.0 50 -1 9.3 +0.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 51.2 32 17 6.9 -2.1
CHIL Global X MSCI China Large-Cap 50 ETF 50.3 29 20 9.4 +0.4
GMF SPDR S&P Emerging Asia Pacific ETF 42.5 49 0 7.9 -1.2
EEMA iShares MSCI Emerging Markets Asia ETF 42.2 50 -1 8.3 -0.7
AAXJ iShares MSCI All Country Asia ex Japan ETF 37.8 68 -19 7.8 -1.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 36.8 30 19 8.7 -0.4
PBEE Invesco PureBeta FTSE Emerging Markets ETF 36.5 14 35 9.4 +0.4
FLAX Franklin FTSE Asia Ex Japan ETF 36.4 19 30 8.4 -0.7
SCHE Schwab Emerging Markets Equity ETF 36.4 13 36 8.5 -0.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 33.7 32 17 6.7 -2.3
EEM iShares MSCI Emerging Markets ETF 33.6 68 -19 8.1 -0.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 33.5 65 -16 8.3 -0.8
SPEM SPDR Portfolio Emerging Markets ETF 32.8 11 38 8.5 -0.5
VWO Vanguard FTSE Emerging Markets ETF 32.6 10 39 8.7 -0.3
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 32.4 20 29 7.6 -1.5
ASHX Xtrackers MSCI China A Inclusion Equity ETF 32.2 60 -11 8.0 -1.1
KBA KraneShares Bosera MSCI China A Share ETF 32.1 60 -11 8.0 -1.0
CNYA iShares MSCI China A ETF 32.0 65 -16 7.9 -1.1
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 32.0 65 -16 8.5 -0.6
JHEM John Hancock Multifactor Emerging Markets ETF 30.8 55 -6 8.7 -0.3
IEMG iShares Core MSCI Emerging Markets ETF 30.4 14 35 8.6 -0.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 29.5 45 4 8.6 -0.4
FXI iShares China Large-Cap ETF 28.8 74 -25 13.3 +4.3
PXH Invesco FTSE RAFI Emerging Markets ETF 28.5 50 -1 13.5 +4.5
ISEM Invesco Strategic Emerging Markets ETF 28.3 35 14 10.2 +1.2
ESGE iShares ESG MSCI EM ETF 28.0 25 24 9.5 +0.5
KWEB KraneShares CSI China Internet ETF 27.6 76 -27 3.4 -5.7
NUEM Nuveen ESG Emerging Markets Equity ETF 25.7 45 4 7.7 -1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 25.3 95 -46 10.0 +0.9
FDNI First Trust Dow Jones International Internet ETF 24.3 65 -16 2.8 -6.2
DVEM WisdomTree Emerging Markets Dividend Fund 24.3 32 17 8.9 -0.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 23.8 30 19 9.2 +0.2
AVEM Avantis Emerging Markets Equity ETF 22.9 33 16 9.4 +0.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 22.9 86 -37 2.3 -6.7
AIA iShares Asia 50 ETF 22.8 50 -1 8.8 -0.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 22.6 32 17 7.9 -1.1
ECON Columbia Emerging Markets Consumer ETF 22.0 59 -10 4.8 -4.2
TTTN UP Fintech China-U.S. Internet Titans ETF 21.2 59 -10 5.0 -4.0
PEK VanEck Vectors ChinaAMC CSI 300 ETF 20.7 60 -11 8.0 -1.0
CHIQ Global X China Consumer ETF 20.6 65 -16 9.1 +0.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 20.3 59 -10 10.9 +1.9
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 20.2 39 10 12.9 +3.9
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 19.8 32 17 9.4 +0.3
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 18.9 18 31 6.0 -3.0
CHIX Global X China Financials ETF 18.5 65 -16 18.6 +9.6
FNI First Trust Chindia ETF 18.4 59 -10 3.4 -5.6
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 18.3 40 9 7.8 -1.2
BICK First Trust BICK Index Fund 18.1 64 -15 4.4 -4.7
CQQQ Invesco China Technology ETF 17.8 70 -21 4.3 -4.8
PGJ Invesco Golden Dragon China ETF 17.4 70 -21 3.4 -5.7
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 17.1 25 24 8.4 -0.7
CHIC Global X Nasdaq China Technology ETF 15.8 65 -16 4.3 -4.7
JOYY Infusive Compounding Global Equities ETF 15.2 50 -1 3.9 -5.1
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 14.7 49 0 8.8 -0.2
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 14.6 80 -31 1.7 -7.3
EMMF WisdomTree Emerging Markets Multifactor Fund 14.5 48 1 9.7 +0.7
AFTY Pacer CSOP FTSE China A50 ETF 14.4 70 -21 10.3 +1.3
GBUY Goldman Sachs Motif New Age Consumer ETF 14.4 50 -1 2.1 -6.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 14.3 45 4 9.9 +0.8
ONLN ProShares Online Retail ETF 13.8 58 -9 1.6 -7.4
DEM WisdomTree Emerging Markets High Dividend Fund 13.7 63 -14 13.8 +4.8
AXJL WisdomTree Asia Pacific ex-Japan Fund 13.7 48 1 10.0 +1.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 13.7 45 4 8.8 -0.2
FDEM Fidelity Targeted Emerging Markets Factor ETF 13.5 45 4 9.6 +0.6
PNQI Invesco NASDAQ Internet ETF 13.2 62 -13 1.2 -7.8
PIE Invesco DWA Emerging Markets Momentum ETF 13.0 90 -41 5.7 -3.4
ROAM Hartford Multifactor Emerging Markets ETF 12.9 44 5 14.7 +5.7
OGIG O'Shares Global Internet Giants ETF 12.6 48 1 0.5 -8.5
DINT Davis Select International ETF 12.4 75 -26 5.8 -3.2
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 11.9 50 -1 9.7 +0.7
RNEM Emerging Markets Equity Select ETF 11.7 75 -26 10.3 +1.3
SOCL Global X Social Media ETF 11.4 65 -16 2.2 -6.8
BUYZ Franklin Disruptive Commerce ETF 11.2 50 -1 -0.1 -9.2
GIGE SoFi Gig Economy ETF 11.2 59 -10 -0.6 -9.7
GENY Principal Millennials Index ETF 10.7 45 4 3.9 -5.1
EEMO Invesco S&P Emerging Markets Momentum ETF 10.6 30 19 7.1 -2.0
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 9.8 16 33 7.1 -2.0
DWLD Davis Select Worldwide ETF 9.8 64 -15 6.6 -2.4
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 9.8 64 -15 5.2 -3.8
ACWX iShares MSCI ACWI ex U.S. ETF 9.6 32 17 7.5 -1.6
EELV Invesco S&P Emerging Markets Low Volatility ETF 9.6 29 20 9.8 +0.7
FCA First Trust China AlphaDEX Fund 9.5 80 -31 14.8 +5.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 9.2 40 9 7.3 -1.7
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 9.2 45 4 13.2 +4.2
IXP iShares Global Comm Services ETF 9.0 46 3 5.8 -3.3
CWI SPDR MSCI ACWI ex-US ETF 8.9 30 19 7.6 -1.5
VSGX Vanguard ESG International Stock ETF 8.9 17 32 7.3 -1.7
BLOK Amplify Transformational Data Sharing ETF 8.8 70 -21 5.0 -4.0
ESPO VanEck Vectors Video Gaming & eSports ETF 8.6 55 -6 2.9 -6.1
VEU Vanguard FTSE All-World ex-US Index Fund 8.5 8 41 7.7 -1.3
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 8.4 20 29 10.8 +1.8
IXUS ishares Core MSCI Total International Stock ETF 8.3 9 40 7.5 -1.5
BLCN Reality Shares Nasdaq NextGen Economy ETF 8.2 68 -19 4.4 -4.7
EBIZ Global X E-Commerce ETF 8.1 50 -1 3.0 -6.1

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 13.2 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 49 bp
Equals: ALTAR Score 9.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.28 CATEGORY
AVERAGE
1.45
 
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.