KraneShares CICC China 5G & Semiconductor Index ETF
ALTAR
Score™		 5.0% info Recommen-
dation		 UNDERWEIGHT
2024E    2025E
P/E
ratio		 18.8x P/Sales
ratio		 1.3x
P/BV
ratio		 2.5x Div.
yield		 1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KFVG tracks a market-cap weighted index of Chinese companies in the 5G and semiconductor-related industries.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor CICC
Website kraneshares.com
Inception date Nov 24, 2020
Assets (mns) $9
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 52
Wgt avg mkt cap (mns) $18,873
Large cap (>$10bn) 55.7%
Mid cap ($2-10bn) 44.3%
Small cap (<$2bn) 0.0%
Developed mkts 8.7%
Emerging mkts 91.3%

TOP TEN HOLDINGS
FOXCONN INDUSTRIAL INTERNET CO., L 10.5 %
XIAOMI CORP. CLASS B 6.1 %
LUXSHARE PRECISION INDUSTR-A 5.1 %
BOE TECHNOLOGY GROUP CO LT-A 3.9 %
BEIJING SEVENSTAR ELECTRONICS CO., 3.8 %
ZHONGJI INNOLIGHT CO., LTD. CLASS 3.4 %
BEIJING KINGSOFT OFFICE SOFTWARE. 3.4 %
SHENZHEN TRANSSION HOLDING CO., LT 3.3 %
ANHUI USTC IFLYTEK CI -A 3.2 %
WILL SEMICONDUCTOR LTD. CLASS A 3.0 %
Total 45.7 %

TOP COUNTRY EXPOSURE
CHINA 89.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.9% -19.1% -- -- -15.1%

Market Correlations
versus... Beta R-squared
S&P500 0.69 16%
MSCI EAFE 0.80 20%
MSCI Emg. Mkts. 1.01 34%

Technical Indicators
Recent close $14.27
30d moving avg. $14.81
Annualized volatility 30.9%
Short interest (ETF) 0.4%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 3
Turnover 0.5%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $5,281

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 110 potential alternatives to the KraneShares CICC China 5G & Semiconductor Index ETF ETF based on the alternatives' overlap in portfolio holdings with KFVG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KFVG Expense: 65 bp ALTAR Score™: 5.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KFVG
Ticker Fund
Name		 Overlap1
vs KFVG
(%)		 Expense
ratio
(bp)		 Savings
vs KFVG
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KFVG
(%)
TCHI iShares MSCI China Multisector Tech ETF 17.2 59 6 3.0 -1.9
KSTR KraneShares SSE STAR Market 50 Index ETF 14.7 89 -24 2.7 -2.3
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 13.4 55 10 8.4 +3.5
RAYC Rayliant Quantamental China Equity ETF 10.6 80 -15 8.7 +3.7
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 9.7 65 0 8.9 +3.9
KTEC KraneShares Hang Seng TECH Index ETF 9.4 69 -4 -3.9 -8.9
JCHI JPMorgan Active China ETF 8.4 65 0 7.9 +3.0
CGRO CoreValues Alpha Greater China Growth ETF 7.7 75 -10 2.6 -2.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 6.7 32 33 5.7 +0.7
CNYA iShares MSCI China A ETF 5.3 60 5 8.6 +3.7
CQQQ Invesco China Technology ETF 4.4 70 -5 -5.7 -10.7
ARVR First Trust Indxx Metaverse ETF 4.3 70 -5 2.5 -2.5
FCA First Trust China AlphaDEX Fund 4.1 80 -15 17.6 +12.7
LIT Global X Lithium & Battery Tech ETF 3.8 75 -10 10.2 +5.3
FXI iShares China Large-Cap ETF 3.7 74 -9 9.6 +4.6
FLCH Franklin FTSE China ETF 3.3 19 46 9.6 +4.6
AFTY Pacer CSOP FTSE China A50 ETF 3.2 70 -5 9.2 +4.3
MCHI iShares MSCI China ETF 3.2 59 6 8.9 +4.0
KALL KraneShares MSCI All China Index ETF 3.1 49 16 9.4 +4.4
MCH Matthews China Active ETF 2.7 79 -14 6.1 +1.1
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 2.6 65 0 6.3 +1.3
NXTG First Trust Indxx NextG ETF 2.5 70 -5 6.0 +1.0
BATT Amplify Lithium & Battery Technology ETF 2.2 59 6 2.9 -2.1
GXC SPDR S&P China ETF 2.0 59 6 9.0 +4.1
TTAI FCF International Quality ETF 2.0 59 6 7.4 +2.4
IRBO iShares Robotics and Artificial Intelligence Multisector ETF 1.8 47 18 0.7 -4.3
BKF iShares MSCI BIC ETF 1.6 69 -4 7.1 +2.1
MINV Matthews Asia Innovators Active ETF 1.4 79 -14 2.8 -2.1
CLNR IQ Cleaner Transport ETF 1.3 45 20 8.3 +3.3
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.3 32 33 6.3 +1.3
AIA iShares Asia 50 ETF 1.3 50 15 6.9 +1.9
KGRN KraneShares MSCI China Clean Technology Index ETF 1.2 79 -14 6.5 +1.5
CN Xtrackers MSCI All China Equity ETF 1.2 50 15 8.7 +3.7
GGME Invesco Next Gen Media and Gaming ETF 1.2 60 5 4.1 -0.9
CHAT Roundhill Generative AI & Technology ETF 1.1 75 -10 4.2 -0.7
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 1.1 25 40 7.0 +2.1
EEMA iShares MSCI Emerging Markets Asia ETF 1.1 49 16 6.7 +1.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.1 15 50 7.1 +2.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 1.0 33 32 7.2 +2.2
FLAX Franklin FTSE Asia Ex Japan ETF 1.0 19 46 7.2 +2.2
FMET Fidelity Metaverse ETF 1.0 39 26 4.4 -0.6
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.0 70 -5 6.3 +1.3
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.9 50 15 10.5 +5.6
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 24 7.8 +2.8
VWO Vanguard FTSE Emerging Markets ETF 0.9 8 57 7.6 +2.6
EEM iShares MSCI Emerging Markets ETF 0.8 69 -4 7.0 +2.0
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.8 66 -1 7.2 +2.2
PXH Invesco FTSE RAFI Emerging Markets ETF 0.8 49 16 12.4 +7.4
BKEM BNY Mellon Emerging Markets Equity ETF 0.8 11 54 7.7 +2.7
DFAE Dimensional Emerging Core Equity Market ETF 0.7 35 30 7.7 +2.7
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.7 30 35 7.5 +2.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.7 36 29 7.5 +2.5
GMF SPDR S&P Emerging Asia Pacific ETF 0.7 49 16 6.4 +1.4
IEMG iShares Core MSCI Emerging Markets ETF 0.7 9 56 7.5 +2.6
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.6 39 26 12.5 +7.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.6 45 20 8.6 +3.6
SPEM SPDR Portfolio Emerging Markets ETF 0.6 7 58 7.5 +2.5
KNCT Invesco Next Gen Connectivity ETF 0.6 40 25 5.9 +0.9
SCHE Schwab Emerging Markets Equity ETF 0.6 11 54 7.6 +2.6
VIDI Vident International Equity Strategy ETF 0.6 61 4 11.9 +7.0
WRND IQ Global Equity R&D Leaders ETF 0.6 18 47 7.2 +2.2
KOCG FIS Knights of Columbus Global Belief ETF 0.5 75 -10 5.3 +0.3
EMC Global X Emerging Markets Great Consumer ETF 0.5 75 -10 4.9 -0.1
ETEC iShares Breakthrough Environmental Solutions ETF 0.5 47 18 5.3 +0.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.5 38 27 8.2 +3.3
DFEV Dimensional Emerging Markets Value ETF 0.5 43 22 10.9 +5.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.5 44 21 10.3 +5.3
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.5 60 5 0.9 -4.0
BTEK Future Tech ETF 0.4 88 -23 2.1 -2.9
UMMA Wahed Dow Jones Islamic World ETF 0.4 65 0 4.3 -0.7
JHEM John Hancock Multifactor Emerging Markets ETF 0.4 49 16 8.3 +3.4
DEHP Dimensional Emerging Markets High Profitability ETF 0.4 41 24 7.3 +2.3
XT iShares Exponential Technologies ETF 0.4 46 19 3.9 -1.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.3 30 35 8.5 +3.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 0.3 45 20 12.7 +7.7
ICLN iShares Global Clean Energy ETF 0.3 41 24 4.3 -0.7
AVEM Avantis Emerging Markets Equity ETF 0.3 33 32 9.1 +4.1
ACWV iShares MSCI Global Min Vol Factor ETF 0.3 20 45 6.7 +1.7
ESGE iShares ESG Aware MSCI EM ETF 0.3 25 40 7.7 +2.7
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.3 80 -15 14.2 +9.2
GCLN Goldman Sachs Bloomberg Clean Energy Equity ETF 0.3 45 20 6.2 +1.3
EMXF iShares ESG Advanced MSCI EM ETF 0.3 16 49 7.4 +2.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.3 59 6 9.6 +4.6
VSGX Vanguard ESG International Stock ETF 0.3 12 53 6.8 +1.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 35 7.8 +2.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.2 41 24 6.7 +1.7
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 8 57 7.2 +2.2
IXN iShares Global Tech ETF 0.2 41 24 4.3 -0.6
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 31 6.7 +1.7
VXUS Vanguard Total International Stock ETF 0.2 7 58 7.1 +2.2
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 58 6.9 +2.0
ROAM Hartford Multifactor Emerging Markets ETF 0.2 44 21 11.7 +6.7
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 35 6.8 +1.9
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 0.1 18 47 7.9 +2.9
ACWI iShares MSCI ACWI ETF 0.1 32 33 5.5 +0.5
VT Vanguard Total World Stock ETF 0.1 7 58 5.8 +0.9
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -24 4.8 -0.2
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.0 12 53 5.1 +0.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.0 7 58 6.5 +1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 56 5.7 +0.8
EMGF iShares Emerging Markets Equity Factor ETF 0.0 25 40 8.7 +3.7
IQSI IQ Candriam International Equity ETF 0.0 15 50 6.4 +1.4
VYMI Vanguard International High Dividend Yield ETF 0.0 22 43 9.7 +4.7
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 45 6.7 +1.7
BKIE BNY Mellon International Equity ETF 0.0 4 61 6.9 +1.9
QINT American Century Quality Diversified International ETF 0.0 39 26 7.4 +2.5
IGRO iShares International Dividend Growth ETF 0.0 15 50 7.1 +2.1
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 45 5.6 +0.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.0 42 23 6.8 +1.8
AVES Avantis Emerging Markets Value ETF 0.0 36 29 12.1 +7.1

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 KraneShares CICC China 5G & Semiconductor Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.3 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 5.0 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.27 CATEGORY
AVERAGE		 1.39
 
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.