KraneShares Hang Seng TECH Index ETF
ALTAR
Score™		 18.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 7.2x P/Sales
ratio		 0.9x
P/BV
ratio		 1.3x Div.
yield		 1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KTEC tracks a market-cap-weighted index of the 30 largest Chinese technology companies.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor CICC
Website kraneshares.com
Inception date Jun 09, 2021
Assets (mns) $51
Currency USD
Expense ratio 69 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 31
Wgt avg mkt cap (mns) $121,926
Large cap (>$10bn) 89.9%
Mid cap ($2-10bn) 9.8%
Small cap (<$2bn) 0.3%
Developed mkts 27.5%
Emerging mkts 72.5%

TOP TEN HOLDINGS
MEITUAN DIANPING 9.4 %
TENCENT HOLDINGS LTD 8.5 %
XIAOMI CORP. CLASS B 8.5 %
NETEASE, INC 8.4 %
BYD CO LTD-H 8.4 %
ALIBABA GROUP HOLDING LTD. 8.0 %
JD.COM, INC. CLASS A 5.5 %
KUAISHOU TECHNOLOGY CLASS B 5.4 %
BAIDU, INC. CLASS A 4.6 %
TRIP.COM GROUP LTD. 3.8 %
Total 70.3 %

TOP COUNTRY EXPOSURE
CHINA 91.2 %
HONG KONG 3.1 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
2.3% 14.2% -- -- -8.2%

Market Correlations
versus... Beta R-squared
S&P500 0.84 22%
MSCI EAFE 1.11 29%
MSCI Emg. Mkts. 1.54 66%

Technical Indicators
Recent close $14.44
30d moving avg. $15.94
Annualized volatility 40.0%
Short interest (ETF) 1.0%
Relative strength (RSI) 42

Liquidity measures
Avg. volume (thou.) 58
Turnover 1.7%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $4,299

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 210 potential alternatives to the KraneShares Hang Seng TECH Index ETF ETF based on the alternatives' overlap in portfolio holdings with KTEC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KTEC Expense: 69 bp ALTAR Score™: 18.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KTEC
Ticker Fund
Name		 Overlap1
vs KTEC
(%)		 Expense
ratio
(bp)		 Savings
vs KTEC
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KTEC
(%)
FXI iShares China Large-Cap ETF 45.7 74 -5 19.2 +0.7
CHIQ Global X MSCI China Consumer Discretionary ETF 40.9 65 4 11.5 -7.0
TCHI iShares MSCI China Multisector Tech ETF 39.0 59 10 13.6 -4.9
FDNI First Trust Dow Jones International Internet ETF 38.1 65 4 21.2 +2.7
CQQQ Invesco China Technology ETF 33.1 70 -1 14.2 -4.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 32.2 32 37 12.9 -5.6
MCHI iShares MSCI China ETF 32.0 59 10 18.1 -0.4
FLCH Franklin FTSE China ETF 32.0 19 50 16.0 -2.5
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 31.7 60 9 8.4 -10.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 31.1 86 -17 10.9 -7.6
GXC SPDR S & P China ETF 28.4 59 10 16.7 -1.8
MCH Matthews China Active ETF 28.3 79 -10 14.0 -4.4
CGRO CoreValues Alpha Greater China Growth ETF 27.6 75 -6 4.3 -14.2
JCHI JPMorgan Active China ETF 24.1 65 4 14.5 -4.0
BKF iShares MSCI BIC ETF 24.0 69 0 12.9 -5.5
AIA iShares Asia 50 ETF 20.7 50 19 8.5 -10.0
EEMO Invesco S&P Emerging Markets Momentum ETF 20.0 29 40 7.5 -11.0
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 18.7 20 49 -0.2 -18.7
EMC Global X Emerging Markets Great Consumer ETF 17.8 75 -6 7.2 -11.3
KGRN KraneShares MSCI China Clean Technology Index ETF 17.3 79 -10 3.1 -15.4
MINV Matthews Asia Innovators Active ETF 15.6 79 -10 6.1 -12.4
LDEM iShares ESG MSCI EM Leaders ETF 15.1 17 52 11.6 -6.8
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 14.8 15 54 8.8 -9.7
BNGE First Trust S-Network Streaming and Gaming ETF 14.0 70 -1 2.8 -15.7
SOCL Global X Social Media ETF 14.0 65 4 11.1 -7.4
PXH Invesco FTSE RAFI Emerging Markets ETF 13.5 49 20 13.1 -5.4
EEMA iShares MSCI Emerging Markets Asia ETF 13.5 49 20 7.7 -10.8
IVRS iShares Future Metaverse Tech and Communications ETF 13.4 47 22 5.1 -13.4
FLAX Franklin FTSE Asia Ex Japan ETF 13.3 19 50 7.3 -11.2
FDEM Fidelity Emerging Markets Multifactor ETF 13.2 25 44 10.2 -8.3
GMF SPDR S&P Emerging Asia Pacific ETF 13.0 49 20 8.6 -9.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 12.4 70 -1 7.1 -11.4
MEM Matthews Emerging Markets Equity Active ETF 12.4 79 -10 8.4 -10.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 12.3 32 37 7.5 -11.0
FDRV Fidelity Electric Vehicles and Future Transportation ETF 12.2 39 30 1.1 -17.4
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 12.2 15 54 8.0 -10.5
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 12.2 66 3 7.5 -11.0
BKEM BNY Mellon Emerging Markets Equity ETF 11.6 11 58 7.9 -10.6
SCHE Schwab Emerging Markets Equity ETF 11.6 11 58 9.2 -9.3
DRGN Themes China Generative Artificial Intelligence ETF 11.5 39 30 9.4 -9.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 11.4 36 33 7.7 -10.8
ESGE iShares ESG Aware MSCI EM ETF 11.4 25 44 8.3 -10.2
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 11.3 33 36 6.8 -11.7
OND ProShares On-Demand ETF 11.2 58 11 0.4 -18.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 11.2 30 39 8.1 -10.4
ERTH Invesco MSCI Sustainable Future ETF 10.9 62 7 3.0 -15.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 10.9 88 -19 8.3 -10.2
VWO Vanguard FTSE Emerging Markets ETF 10.8 7 62 8.9 -9.6
EEM iShares MSCI Emerging Markets ETF 10.7 69 0 7.8 -10.7
JADE JPMorgan Active Developing Markets Equity ETF 10.5 65 4 6.1 -12.4
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 10.4 45 24 8.1 -10.4
JHEM John Hancock Multifactor Emerging Markets ETF 10.3 49 20 7.5 -11.0
SPEM SPDR Portfolio Emerging Markets ETF 10.3 7 62 9.2 -9.3
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 10.1 72 -3 2.1 -16.4
IDRV iShares Self-driving EV & Tech ETF 9.9 47 22 1.2 -17.2
ECON Columbia Emerging Markets Consumer ETF 9.9 49 20 6.9 -11.6
ARVR First Trust Indxx Metaverse ETF 9.6 70 -1 4.2 -14.3
ODDS Pacer BlueStar Digital Entertainment ETF 9.4 60 9 4.5 -14.0
IEMG iShares Core MSCI Emerging Markets ETF 9.2 9 60 8.2 -10.3
ESPO VanEck Video Gaming and eSports ETF 8.9 56 13 6.1 -12.4
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 8.5 75 -6 3.7 -14.8
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 8.5 42 27 3.9 -14.6
BATT Amplify Lithium & Battery Technology ETF 8.3 59 10 1.8 -16.7
EMGF iShares Emerging Markets Equity Factor ETF 8.3 25 44 9.0 -9.5
NUEM Nuveen ESG Emerging Markets Equity ETF 8.1 36 33 6.1 -12.4
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 8.1 41 28 6.8 -11.7
MOTI VanEck Morningstar International Moat ETF 8.1 58 11 8.8 -9.7
DEHP Dimensional Emerging Markets High Profitability ETF 7.9 41 28 4.9 -13.5
CHAT Roundhill Generative AI & Technology ETF 7.9 75 -6 5.6 -12.9
FMET Fidelity Metaverse ETF 7.8 39 30 4.7 -13.8
DFAE Dimensional Emerging Core Equity Market ETF 7.7 35 34 7.0 -11.5
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 7.6 95 -26 10.1 -8.4
EMMF WisdomTree Emerging Markets Multifactor Fund 7.5 48 21 8.5 -10.0
FRGN Horizon International Equity ETF 7.5 75 -6 7.8 -10.7
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 7.4 39 30 13.4 -5.1
RXI iShares Global Consumer Discretionary ETF 7.3 41 28 7.5 -11.0
IPKW Invesco International BuyBack Achievers ETF 6.8 55 14 7.7 -10.8
MOTG VanEck Morningstar Global Wide Moat ETF 6.5 52 17 7.1 -11.4
PATN Pacer Nasdaq International Patent Leaders ETF 6.5 65 4 4.4 -14.1
GGME Invesco Next Gen Media and Gaming ETF 6.5 60 9 4.8 -13.6
IXP iShares Global Comm Services ETF 6.3 42 27 5.4 -13.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.1 59 10 8.3 -10.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 6.0 38 31 7.0 -11.5
EVLU iShares MSCI Emerging Markets Value Factor ETF 5.9 35 34 10.8 -7.7
SMOG VanEck Low Carbon Energy ETF 5.9 61 8 1.2 -17.3
ISHP First Trust Nasdaq Retail ETF 5.8 60 9 5.0 -13.5
JIG JPMorgan International Growth ETF 5.3 55 14 3.5 -15.0
METV Roundhill Ball Metaverse ETF 5.2 59 10 8.3 -10.2
AVEM Avantis Emerging Markets Equity ETF 5.0 33 36 7.1 -11.4
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 5.0 40 29 6.3 -12.2
EMXF iShares ESG Advanced MSCI EM ETF 4.8 16 53 7.0 -11.5
AVSE Avantis Responsible Emerging Markets Equity ETF 4.8 33 36 6.7 -11.8
ANEW ProShares MSCI Transformational Changes ETF 4.6 45 24 4.3 -14.2
GTEK Goldman Sachs Future Tech Leaders Equity ETF 4.4 75 -6 2.3 -16.2
IBLC iShares Blockchain and Tech ETF 4.2 47 22 -1.4 -19.9
GINN Goldman Sachs Innovate Equity ETF 4.1 52 17 3.8 -14.7
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.1 45 24 9.2 -9.3
SDG iShares MSCI Global Sustainable Development Goals ETF 4.0 49 20 4.6 -13.9
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.9 70 -1 8.9 -9.6
DSTX Distillate International Fundamental Stability & Value ETF 3.9 55 14 6.1 -12.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.8 41 28 6.0 -12.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.7 30 39 7.8 -10.7
JIVE JPMorgan International Value ETF 3.7 55 14 8.1 -10.4
OGIG ALPS O'Shares Global Internet Giants ETF 3.7 48 21 2.5 -16.0
DINT Davis Select International ETF 3.7 55 14 5.8 -12.7
IBUY Amplify Online Retail ETF 3.6 65 4 2.2 -16.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 3.6 18 51 6.2 -12.3
ROAM Hartford Multifactor Emerging Markets ETF 3.6 44 25 7.7 -10.8
AIQ Global X Artificial Intelligence & Technology ETF 3.4 68 1 3.3 -15.2
MOTO SmartETFs Smart Transportation & Technology ETF 3.4 68 1 5.5 -13.0
XT iShares Exponential Technologies ETF 3.4 46 23 4.1 -14.4
ACWX iShares MSCI ACWI ex U.S. ETF 3.4 34 35 6.2 -12.3
CWI SPDR MSCI ACWI ex-US ETF 3.2 30 39 6.3 -12.2
ETEC iShares Breakthrough Environmental Solutions ETF 3.2 47 22 2.8 -15.6
VEU Vanguard FTSE All-World ex-US Index Fund 3.2 4 65 6.6 -11.9
BUYZ Franklin Disruptive Commerce ETF 3.0 50 19 2.3 -16.2
LIT Global X Lithium & Battery Tech ETF 3.0 75 -6 5.1 -13.4
VXUS Vanguard Total International Stock ETF 2.9 5 64 6.5 -12.0
IXUS iShares Core MSCI Total International Stock ETF 2.9 7 62 6.4 -12.1
DFEV Dimensional Emerging Markets Value ETF 2.9 43 26 9.7 -8.8
CLNR IQ Cleaner Transport ETF 2.8 45 24 3.9 -14.6
CGXU Capital Group International Focus Equity ETF 2.7 54 15 3.8 -14.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.7 50 19 8.0 -10.4
FDHT Fidelity Digital Health ETF 2.7 39 30 1.7 -16.8
DRIV Global X Autonomous & Electric Vehicles ETF 2.7 68 1 3.5 -15.0
WUGI AXS Esoterica NextG Economy ETF 2.7 75 -6 1.7 -16.8
FPXI First Trust International Equity Opportunities ETF 2.6 70 -1 3.9 -14.6
DWLD Davis Select Worldwide ETF 2.5 63 6 6.6 -11.9
VSGX Vanguard ESG International Stock ETF 2.5 10 59 6.4 -12.0
HUMN Roundhill Humanoid Robotics ETF 2.5 75 -6 1.2 -17.3
HTEC ROBO Global Healthcare Technology and Innovation ETF 2.5 68 1 2.3 -16.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 2.3 90 -21 4.0 -14.5
NXTG First Trust Indxx NextG ETF 2.3 70 -1 4.4 -14.1
AIVC Amplify Bloomberg AI Value Chain ETF 2.3 59 10 5.0 -13.5
RNEM First Trust Emerging Markets Equity Select ETF 2.2 75 -6 7.4 -11.1
KOCG FIS Knights of Columbus Global Belief ETF 2.2 75 -6 4.3 -14.2
AVES Avantis Emerging Markets Value ETF 2.1 36 33 8.5 -9.9
FEM First Trust Emerging Markets AlphaDEX Fund 2.1 80 -11 8.8 -9.7
CARZ First Trust NASDAQ Global Auto Index Fund 1.9 70 -1 2.9 -15.6
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.9 60 9 6.2 -12.3
FDCF Fidelity Disruptive Communications ETF 1.9 50 19 2.0 -16.5
KLMT Invesco MSCI Global Climate 500 ETF 1.9 10 59 5.0 -13.5
BOTT Themes Robotics & Automation ETF 1.8 35 34 -3.6 -22.0
UMMA Wahed Dow Jones Islamic World ETF 1.7 65 4 3.6 -14.9
ADIV SmartETFs Asia Pacific Dividend Builder ETF 1.7 78 -9 9.4 -9.1
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.7 30 39 6.2 -12.3
FEOE First Eagle Overseas Equity ETF 1.6 79 -10 5.7 -12.8
PBD Invesco Global Clean Energy ETF 1.6 75 -6 0.3 -18.2
WRND IQ Global Equity R&D Leaders ETF 1.4 18 51 4.1 -14.4
BWEB Bitwise Web3 ETF 1.4 85 -16 -0.0 -18.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.4 12 57 4.5 -14.0
KNCT Invesco Next Gen Connectivity ETF 1.3 40 29 3.8 -14.7
ACWI iShares MSCI ACWI ETF 1.3 32 37 4.7 -13.8
XDAT Franklin Exponential Data ETF 1.3 50 19 1.3 -17.2
FBOT Fidelity Disruptive Automation ETF 1.2 50 19 2.9 -15.6
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.2 20 49 4.8 -13.7
JGLO JPMorgan Global Select Equity ETF 1.2 33 36 4.2 -14.3
FCLD Fidelity Cloud Computing ETF 1.2 39 30 4.0 -14.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.2 9 60 4.9 -13.6
FID First Trust S&P International Dividend Aristocrats ETF 1.2 60 9 7.5 -11.0
ROBO ROBO Global Robotics & Automation Index ETF 1.2 95 -26 2.4 -16.1
GEW Cambria Global EW ETF 1.1 29 40 5.3 -13.2
IOO iShares Global 100 ETF 1.1 41 28 4.0 -14.5
VT Vanguard Total World Stock ETF 1.1 6 63 5.1 -13.4
FEGE First Eagle Global Equity ETF 1.1 79 -10 5.6 -12.9
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 22 7.5 -11.0
IPOS Renaissance International IPO ETF 1.0 80 -11 0.0 -18.5
TTAI FCF International Quality ETF 1.0 59 10 6.5 -12.0
CGIE Capital Group International Equity ETF 1.0 54 15 4.4 -14.1
EBIZ Global X E-Commerce ETF 0.9 50 19 4.4 -14.1
HEAL Global X HealthTech ETF 0.9 50 19 -1.4 -19.9
AWAY ETFMG Travel Tech ETF 0.9 76 -7 1.1 -17.4
WDIV SPDR S&P Global Dividend ETF 0.9 40 29 8.8 -9.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.9 47 22 7.3 -11.2
JSTC Adasina Social Justice All Cap Global ETF 0.8 89 -20 4.5 -14.0
HERO Global X Video Games & Esports ETF 0.8 50 19 5.3 -13.2
NERD Roundhill Video Games ETF 0.8 50 19 7.1 -11.3
DTAN Sparkline International Intangible Value ETF 0.7 55 14 6.8 -11.7
DGT State Street SPDR Global Dow ETF 0.7 50 19 5.6 -12.8
FCA First Trust China AlphaDEX Fund 0.6 80 -11 6.5 -12.0
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.6 25 44 6.3 -12.2
IGPT Invesco AI and Next Gen Software ETF 0.6 60 9 3.4 -15.1
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.6 65 4 7.5 -10.9
IGRO iShares International Dividend Growth ETF 0.5 15 54 6.4 -12.1
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 0.5 80 -11 6.9 -11.6
JETS U.S. Global Jets ETF 0.5 60 9 2.3 -16.2
ACWV iShares MSCI Global Min Vol Factor ETF 0.5 20 49 5.4 -13.1
IQM Franklin Intelligent Machines ETF 0.4 50 19 1.3 -17.2
INTF iShares International Equity Factor ETF 0.4 15 54 6.3 -12.2
IXN iShares Global Tech ETF 0.4 41 28 3.2 -15.3
GLOF iShares Global Equity Factor ETF 0.4 20 49 5.7 -12.8
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.4 65 4 1.5 -17.0
AQLT iShares MSCI Global Quality Factor ETF 0.3 18 51 0.0 -18.5
GCOW Pacer Global Cash Cows Dividend ETF 0.3 60 9 8.7 -9.8
JPIN J.P. Morgan Diversified Return International Equity ETF 0.3 37 32 6.7 -11.8
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.2 58 11 3.5 -15.0
VYMI Vanguard International High Dividend Yield ETF 0.1 17 52 7.7 -10.8
CIL VictoryShares International Volatility Wtd ETF 0.1 45 24 5.7 -12.8
VPL Vanguard FTSE Pacific ETF 0.1 7 62 5.2 -13.3
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 20 5.7 -12.8
HFXI IQ FTSE International Equity Currency Neutral ETF 0.1 20 49 5.5 -12.9
FNDC Schwab Fundamental International Small Co. Index ETF 0.0 39 30 6.4 -12.0
IQSI IQ Candriam International Equity ETF 0.0 15 54 5.3 -13.2
SCHF Schwab International Equity ETF 0.0 6 63 5.8 -12.7
VEA Vanguard FTSE Developed Markets ETF 0.0 3 66 5.8 -12.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 24 6.6 -11.9
DEEF Xtrackers FTSE Developed ex US Multifactor ETF 0.0 24 45 6.4 -12.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 30 5.9 -12.6
BKIE BNY Mellon International Equity ETF 0.0 4 65 5.7 -12.8
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 5.6 -12.9

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 KraneShares Hang Seng TECH Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 23.3 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 69 bp
Equals: ALTAR Score 18.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 CATEGORY
AVERAGE		 1.52
 
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.