KraneShares MSCI All China Health Care Index ETF
ALTAR
Score™		 2.7% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 30.2x P/Sales
ratio		 2.7x
P/BV
ratio		 3.1x Div.
yield		 0.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The KraneShares MSCI All China Health Care Index ETF tracks an index of large- and midcap Chinese stocks in the health care sector, weighted by market capitalization.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor KraneShares
Website kraneshares.com
Inception date Jan 31, 2018
Assets (mns) $102
Currency USD
Expense ratio 65 bp
Distributions Semi-annual

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 48
Wgt avg mkt cap (mns) $15,972
Large cap (>$10bn) 52.3%
Mid cap ($2-10bn) 47.7%
Small cap (<$2bn) 0.0%
Developed mkts 19.1%
Emerging mkts 80.9%

TOP TEN HOLDINGS
JIANGSU HENGRUI MEDICINE CO., LTD. 12.3 %
BEIGENE, LTD. 10.8 %
INNOVENT BIOLOGICS, INC. 10.6 %
WUXI BIOLOGICS (CAYMAN) INC. 10.4 %
AKESO, INC. 8.1 %
SINO BIOPHARMACEUTICAL 7.7 %
SHENZHEN MINDRAY BIO-MEDICAL ELECT 7.6 %
CHINA PHARMACEUTICAL GROUP 7.5 %
WUXI APPTEC CO., LTD. CLASS A 7.1 %
HANSOH PHARMACEUTICAL GROUP COMPAN 3.7 %
Total 85.7 %

TOP COUNTRY EXPOSURE
CHINA 121.2 %
HONG KONG 16.0 %
UNITED STATES 1.7 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
47.6% 25.3% -6.4% -- -0.3%

Market Correlations
versus... Beta R-squared
S&P500 0.33 3%
MSCI EAFE 0.72 15%
MSCI Emg. Mkts. 0.86 24%

Technical Indicators
Recent close $19.31
30d moving avg. $20.93
Annualized volatility 28.0%
Short interest (ETF) 2.7%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 85
Turnover 1.6%
Bid/Ask (% of price) 0.81%
ADV underlying (mns) $2,220

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 133 potential alternatives to the KraneShares MSCI All China Health Care Index ETF ETF based on the alternatives' overlap in portfolio holdings with KURE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KURE Expense: 65 bp ALTAR Score™: 2.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KURE
Ticker Fund
Name		 Overlap1
vs KURE
(%)		 Expense
ratio
(bp)		 Savings
vs KURE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KURE
(%)
CXSE WisdomTree China ex-State-Owned Enterprises Fund 12.5 32 33 15.9 +13.2
THNR Amplify Weight Loss Drug & Treatment ETF 11.0 59 6 6.7 +4.0
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 7.4 65 0 6.9 +4.2
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 7.3 55 10 7.1 +4.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 6.0 60 5 8.5 +5.8
OZEM Roundhill GLP-1 & Weight Loss ETF 6.0 59 6 0.4 -2.3
KALL KraneShares MSCI All China Index ETF 5.6 49 16 15.1 +12.4
FLCH Franklin FTSE China ETF 5.0 19 46 15.7 +13.0
CGRO CoreValues Alpha Greater China Growth ETF 4.8 75 -10 4.5 +1.8
FID First Trust S&P International Dividend Aristocrats ETF 4.4 60 5 8.0 +5.3
FCA First Trust China AlphaDEX Fund 4.0 80 -15 8.1 +5.4
MINV Matthews Asia Innovators Active ETF 3.8 79 -14 7.2 +4.5
WDIV SPDR S&P Global Dividend ETF 3.5 40 25 9.3 +6.6
MCHI iShares MSCI China ETF 3.4 59 6 17.3 +14.6
GNOM Global X Genomics & Biotechnology ETF 3.3 50 15 -1.0 -3.8
MCH Matthews China Active ETF 3.1 79 -14 14.1 +11.4
KSTR KraneShares SSE STAR Market 50 Index ETF 3.0 89 -24 1.1 -1.7
IQDY FlexShares International Quality Dividend Dynamic Index Fund 2.9 47 18 8.3 +5.6
MDEV First Trust Indxx Medical Devices ETF 2.8 70 -5 4.7 +2.0
GXC SPDR S&P China ETF 2.8 59 6 15.2 +12.5
ROAM Hartford Multifactor Emerging Markets ETF 2.7 44 21 12.0 +9.3
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund 2.4 80 -15 9.1 +6.4
CNYA iShares MSCI China A ETF 2.4 60 5 6.3 +3.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 2.2 32 33 9.0 +6.3
SAGP Strategas Global Policy Opportunities ETF 2.1 65 0 5.4 +2.7
AGNG Global X Aging Population ETF 2.1 50 15 4.9 +2.1
LDEM iShares ESG MSCI EM Leaders ETF 2.1 17 48 13.8 +11.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.1 45 20 10.1 +7.4
RODE Hartford Multifactor Diversified International ETF 2.0 29 36 11.5 +8.7
BKF iShares MSCI BIC ETF 2.0 69 -4 13.6 +10.9
EMXF iShares ESG Advanced MSCI EM ETF 1.9 16 49 8.4 +5.7
NUEM Nuveen ESG Emerging Markets Equity ETF 1.9 36 29 7.7 +5.0
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 1.9 65 0 4.9 +2.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 1.9 90 -25 7.0 +4.3
RAYC Rayliant Quantamental China Equity ETF 1.9 80 -15 7.4 +4.7
EMMF WisdomTree Emerging Markets Multifactor Fund 1.9 48 17 7.4 +4.7
FLAX Franklin FTSE Asia Ex Japan ETF 1.9 19 46 9.0 +6.3
AVSE Avantis Responsible Emerging Markets Equity ETF 1.8 33 32 8.3 +5.6
MEDI Harbor Health Care ETF 1.7 80 -15 -1.4 -4.1
FMED Fidelity Disruptive Medicine ETF 1.7 50 15 -1.1 -3.8
CANC Tema Oncology ETF 1.7 75 -10 -2.6 -5.3
BBP Virtus LifeSci Biotech Products ETF 1.7 79 -14 -2.1 -4.8
FEM First Trust Emerging Markets AlphaDEX Fund 1.6 80 -15 11.5 +8.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.6 66 -1 9.2 +6.5
ESGE iShares ESG Aware MSCI EM ETF 1.4 25 40 9.9 +7.2
AVES Avantis Emerging Markets Value ETF 1.4 36 29 11.1 +8.4
JCHI JPMorgan Active China ETF 1.3 65 0 14.9 +12.2
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 1.3 15 50 10.1 +7.4
AVEM Avantis Emerging Markets Equity ETF 1.3 33 32 8.5 +5.8
EEMA iShares MSCI Emerging Markets Asia ETF 1.3 49 16 10.0 +7.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.3 41 24 8.7 +6.0
GMF SPDR S&P Emerging Asia Pacific ETF 1.3 49 16 9.3 +6.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.3 15 50 7.7 +5.0
JHEM John Hancock Multifactor Emerging Markets ETF 1.2 49 16 10.0 +7.3
SCHE Schwab Emerging Markets Equity ETF 1.2 11 54 10.8 +8.1
BKEM BNY Mellon Emerging Markets Equity ETF 1.2 11 54 9.9 +7.2
XT iShares Exponential Technologies ETF 1.2 46 19 4.7 +2.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 1.2 36 29 9.5 +6.8
AAXJ iShares MSCI All Country Asia ex Japan ETF 1.2 70 -5 9.1 +6.4
UEVM VictoryShares Emerging Markets Value Momentum ETF 1.2 45 20 10.9 +8.2
VWO Vanguard FTSE Emerging Markets ETF 1.1 7 58 10.1 +7.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 1.1 30 35 10.1 +7.4
RNEM First Trust Emerging Markets Equity Select ETF 1.1 75 -10 7.9 +5.2
EEM iShares MSCI Emerging Markets ETF 1.0 69 -4 10.0 +7.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 1.0 44 21 10.6 +7.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.0 38 27 9.2 +6.5
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 1.0 19 46 6.0 +3.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.9 25 40 6.5 +3.8
IEMG iShares Core MSCI Emerging Markets ETF 0.9 9 56 10.3 +7.6
SPEM SPDR Portfolio Emerging Markets ETF 0.9 7 58 10.4 +7.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.8 30 35 9.1 +6.4
UIVM VictoryShares International Value Momentum ETF 0.8 35 30 9.1 +6.3
DFAE Dimensional Emerging Core Equity Market ETF 0.8 35 30 9.2 +6.5
JIG JPMorgan International Growth ETF 0.8 55 10 4.7 +2.0
DEM WisdomTree Emerging Markets High Dividend Fund 0.8 63 2 13.7 +11.0
FDEM Fidelity Emerging Markets Multifactor ETF 0.7 25 40 12.8 +10.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.7 59 6 8.8 +6.1
PXH Invesco FTSE RAFI Emerging Markets ETF 0.7 49 16 15.7 +13.0
ECON Columbia Emerging Markets Consumer ETF 0.6 49 16 12.0 +9.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.5 39 26 16.2 +13.5
MEM Matthews Emerging Markets Equity Active ETF 0.5 79 -14 7.7 +5.0
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.5 33 32 9.8 +7.1
DFEV Dimensional Emerging Markets Value ETF 0.5 43 22 13.3 +10.5
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.5 50 15 11.0 +8.3
VIDI Vident International Equity Strategy ETF 0.4 61 4 10.9 +8.2
EMGF iShares Emerging Markets Equity Factor ETF 0.4 25 40 11.5 +8.8
FXI iShares China Large-Cap ETF 0.4 74 -9 18.5 +15.8
CNXT VanEck ChiNext ETF 0.4 65 0 4.1 +1.3
VSGX Vanguard ESG International Stock ETF 0.4 10 55 7.6 +4.9
IBB iShares Biotechnology ETF 0.4 45 20 0.4 -2.3
WRND IQ Global Equity R&D Leaders ETF 0.4 18 47 8.0 +5.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 24 7.3 +4.6
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.4 18 47 7.9 +5.2
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 16 5.8 +3.1
SYNB Putnam BioRevolution ETF 0.4 70 -5 2.9 +0.2
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.4 30 35 7.8 +5.1
CWI SPDR MSCI ACWI ex-US ETF 0.4 30 35 7.5 +4.8
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.4 42 23 9.9 +7.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.3 4 61 8.0 +5.3
ACWX iShares MSCI ACWI ex U.S. ETF 0.3 34 31 7.6 +4.9
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.3 70 -5 13.3 +10.6
VXUS Vanguard Total International Stock ETF 0.3 5 60 7.8 +5.1
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.3 35 30 17.7 +15.0
FNDC Schwab Fundamental International Small Co. Index ETF 0.3 39 26 5.8 +3.1
IGRO iShares International Dividend Growth ETF 0.3 15 50 7.3 +4.6
IXUS iShares Core MSCI Total International Stock ETF 0.3 7 58 7.8 +5.1
IBBQ Invesco Nasdaq Biotechnology ETF 0.3 19 46 0.4 -2.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.3 95 -30 11.7 +9.0
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 7 10.1 +7.4
FDT First Trust Developed Markets ex-US AlphaDEX Fund 0.2 80 -15 9.5 +6.8
IQSI IQ Candriam International Equity ETF 0.2 15 50 6.6 +3.9
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 20 6.2 +3.5
DEHP Dimensional Emerging Markets High Profitability ETF 0.2 41 24 6.6 +3.9
DEW WisdomTree Global High Dividend Fund 0.1 58 7 8.5 +5.8
VYMI Vanguard International High Dividend Yield ETF 0.1 17 48 9.6 +6.9
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 45 6.9 +4.2
ACWI iShares MSCI ACWI ETF 0.1 32 33 5.5 +2.8
VT Vanguard Total World Stock ETF 0.1 6 59 5.8 +3.1
BKIE BNY Mellon International Equity ETF 0.1 4 61 7.0 +4.3
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 45 6.2 +3.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 53 5.1 +2.4
VIGI Vanguard International Dividend Appreciation ETF 0.1 10 55 6.4 +3.7
DIVI Franklin International Core Dividend Tilt Index ETF 0.1 9 56 8.0 +5.3
FSST Fidelity Sustainable U.S. Equity ETF 0.1 59 6 4.3 +1.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 56 5.6 +2.9
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -24 4.9 +2.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 45 5.6 +2.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 26 7.9 +5.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 8.8 +6.1
KOMP SPDR S&P Kensho New Economies Composite ETF 0.0 20 45 2.3 -0.4
FBCG Fidelity Blue Chip Growth ETF 0.0 59 6 2.8 +0.1
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 44 3.7 +1.0
APIE ActivePassive International Equity ETF 0.0 45 20 7.4 +4.7

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 MSCI All China Health Care Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.6 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 2.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.48 CATEGORY
AVERAGE		 1.51
 
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.