KraneShares MSCI All China Health Care Index ETF
ALTAR
Score™		 2.8% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 25.2x P/Sales
ratio		 3.0x
P/BV
ratio		 3.0x Div.
yield		 0.6%


  • 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) $75
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 50
Wgt avg mkt cap (mns) $17,065
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
BEIGENE, LTD. 9.2 %
INNOVENT BIOLOGICS, INC. 8.6 %
WUXI BIOLOGICS (CAYMAN) INC. 7.7 %
WUXI APPTEC CO., LTD. CLASS A 6.3 %
JIANGSU HENGRUI MEDICINE CO., LTD. 4.6 %
SHENZHEN MINDRAY BIO-MEDICAL ELECT 4.4 %
AKESO, INC. 3.8 %
CHINA PHARMACEUTICAL GROUP 3.8 %
WUXI APPTEC CO., LTD. CLASS H 3.7 %
SINO BIOPHARMACEUTICAL 3.5 %
Total 55.6 %

TOP COUNTRY EXPOSURE
CHINA 83.0 %
HONG KONG 7.3 %
UNITED STATES 1.2 %








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.
-5.8% 2.1% -15.2% -- -2.8%

Market Correlations
versus... Beta R-squared
S&P500 0.66 8%
MSCI EAFE 0.60 11%
MSCI Emg. Mkts. 0.59 19%

Technical Indicators
Recent close $16.86
30d moving avg. $15.50
Annualized volatility 28.5%
Short interest (ETF) 13.5%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 78
Turnover 1.7%
Bid/Ask (% of price) 1.05%
ADV underlying (mns) $2,220

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 129 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™: 2.8%


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
(%)
OZEM Roundhill GLP-1 & Weight Loss ETF 7.1 59 6 5.2 +2.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 6.7 32 33 14.3 +11.6
MCH Matthews China Active ETF 5.4 79 -14 15.1 +12.3
CGRO CoreValues Alpha Greater China Growth ETF 5.3 75 -10 5.5 +2.7
EEMO Invesco S&P Emerging Markets Momentum ETF 5.0 29 36 6.7 +4.0
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 4.6 65 0 6.3 +3.5
FLCH Franklin FTSE China ETF 4.4 19 46 18.9 +16.1
JCHI JPMorgan Active China ETF 4.1 65 0 15.8 +13.1
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 4.1 55 10 6.4 +3.6
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 3.6 90 -25 3.6 +0.8
BMED Future Health ETF 3.2 85 -20 1.1 -1.7
MCHI iShares MSCI China ETF 3.1 59 6 21.2 +18.5
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.9 45 20 9.8 +7.0
GXC SPDR S & P China ETF 2.4 59 6 19.5 +16.7
KSTR KraneShares SSE STAR Market 50 Index ETF 2.1 89 -24 0.4 -2.3
GNOM Global X Genomics & Biotechnology ETF 2.1 50 15 -2.3 -5.1
MINV Matthews Asia Innovators Active ETF 2.0 79 -14 5.3 +2.5
MDEV First Trust Indxx Medical Devices ETF 1.9 70 -5 4.9 +2.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.9 60 5 6.7 +4.0
ROAM Hartford Multifactor Emerging Markets ETF 1.8 44 21 7.7 +4.9
BKF iShares MSCI BIC ETF 1.8 69 -4 15.0 +12.3
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.8 88 -23 7.9 +5.1
FCA First Trust China AlphaDEX Fund 1.7 80 -15 8.8 +6.0
SAGP Strategas Global Policy Opportunities ETF 1.6 65 0 4.8 +2.0
AGNG Global X Aging Population ETF 1.6 50 15 4.2 +1.4
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 1.6 15 50 8.9 +6.1
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 1.5 45 20 8.1 +5.4
NUEM Nuveen ESG Emerging Markets Equity ETF 1.4 36 29 6.1 +3.3
CNYA iShares MSCI China A ETF 1.4 60 5 6.5 +3.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 1.3 32 33 7.5 +4.8
LDEM iShares ESG MSCI EM Leaders ETF 1.3 17 48 13.0 +10.2
AVSE Avantis Responsible Emerging Markets Equity ETF 1.3 33 32 6.7 +3.9
FLAX Franklin FTSE Asia Ex Japan ETF 1.2 19 46 7.2 +4.5
FEM First Trust Emerging Markets AlphaDEX Fund 1.2 80 -15 9.0 +6.2
EMXF iShares ESG Advanced MSCI EM ETF 1.1 16 49 6.7 +3.9
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 1.0 66 -1 7.3 +4.5
ECON Columbia Emerging Markets Consumer ETF 1.0 49 16 6.7 +3.9
EEMA iShares MSCI Emerging Markets Asia ETF 1.0 49 16 7.6 +4.8
AVEM Avantis Emerging Markets Equity ETF 1.0 33 32 7.1 +4.3
BKEM BNY Mellon Emerging Markets Equity ETF 1.0 11 54 8.1 +5.3
BBP Virtus LifeSci Biotech Products ETF 0.9 79 -14 -3.6 -6.4
MEDI Harbor Health Care ETF 0.9 80 -15 -1.3 -4.1
FMED Fidelity Disruptive Medicine ETF 0.9 50 15 -1.1 -3.9
CANC Tema Oncology ETF 0.9 75 -10 -2.2 -5.0
JHEM John Hancock Multifactor Emerging Markets ETF 0.9 49 16 7.7 +4.9
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.9 41 24 7.0 +4.2
GMF SPDR S&P Emerging Asia Pacific ETF 0.9 49 16 8.7 +5.9
SCHE Schwab Emerging Markets Equity ETF 0.9 11 54 9.4 +6.7
ESGE iShares ESG Aware MSCI EM ETF 0.8 25 40 8.4 +5.6
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.8 36 29 7.7 +4.9
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.8 15 50 8.1 +5.3
VWO Vanguard FTSE Emerging Markets ETF 0.8 7 58 9.2 +6.4
EYLD Cambria Emerging Shareholder Yield ETF 0.8 66 -1 9.1 +6.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.7 70 -5 7.0 +4.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.7 30 35 8.0 +5.3
BBAX JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF 0.7 19 46 5.4 +2.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.7 44 21 9.6 +6.9
EEM iShares MSCI Emerging Markets ETF 0.6 69 -4 7.9 +5.2
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.6 38 27 7.1 +4.3
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.6 69 -4 7.6 +4.8
SPEM SPDR Portfolio Emerging Markets ETF 0.6 7 58 9.5 +6.7
ECNS iShares MSCI China Small-Cap ETF 0.6 59 6 10.1 +7.3
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.6 42 23 7.8 +5.0
FXI iShares China Large-Cap ETF 0.6 74 -9 22.1 +19.3
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 0.6 65 0 4.5 +1.7
IEMG iShares Core MSCI Emerging Markets ETF 0.6 9 56 8.3 +5.5
PXH Invesco FTSE RAFI Emerging Markets ETF 0.5 49 16 13.6 +10.9
CNXT VanEck ChiNext ETF 0.5 65 0 2.7 -0.0
DFAE Dimensional Emerging Core Equity Market ETF 0.5 35 30 7.1 +4.3
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.4 35 30 10.3 +7.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.4 30 35 7.7 +4.9
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.4 80 -15 12.2 +9.4
IBB iShares Biotechnology ETF 0.4 45 20 -0.5 -3.3
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.4 59 6 8.6 +5.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.4 49 16 4.7 +1.9
GPT Intelligent Alpha Atlas ETF 0.4 69 -4 6.1 +3.3
FRGN Horizon International Equity ETF 0.4 75 -10 7.8 +5.1
EMGF iShares Emerging Markets Equity Factor ETF 0.4 25 40 9.0 +6.2
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.4 41 24 5.9 +3.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.3 39 26 13.8 +11.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.3 18 47 6.3 +3.6
AVES Avantis Emerging Markets Value ETF 0.3 36 29 9.1 +6.3
VSGX Vanguard ESG International Stock ETF 0.3 10 55 6.6 +3.8
DFEV Dimensional Emerging Markets Value ETF 0.3 43 22 9.5 +6.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 0.3 50 15 8.4 +5.7
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.3 33 32 6.8 +4.0
IBBQ Invesco Nasdaq Biotechnology ETF 0.2 19 46 0.3 -2.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 61 6.7 +4.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.2 30 35 6.5 +3.7
UIVM VictoryShares International Value Momentum ETF 0.2 35 30 8.1 +5.4
VXUS Vanguard Total International Stock ETF 0.2 5 60 6.6 +3.9
ACWX iShares MSCI ACWI ex U.S. ETF 0.2 34 31 6.4 +3.6
CWI SPDR MSCI ACWI ex-US ETF 0.2 30 35 6.5 +3.7
DEHP Dimensional Emerging Markets High Profitability ETF 0.2 41 24 4.9 +2.1
IXUS iShares Core MSCI Total International Stock ETF 0.2 7 58 6.6 +3.9
TPIF Timothy Plan International ETF 0.2 62 3 5.6 +2.8
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.2 70 -5 9.5 +6.7
RNEM First Trust Emerging Markets Equity Select ETF 0.2 75 -10 8.1 +5.3
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 7 8.4 +5.7
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 42 23 4.0 +1.3
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.1 20 45 0.8 -2.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 53 4.4 +1.7
IQSI IQ Candriam International Equity ETF 0.1 15 50 5.6 +2.8
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 26 6.9 +4.1
VYMI Vanguard International High Dividend Yield ETF 0.1 17 48 8.0 +5.2
VT Vanguard Total World Stock ETF 0.1 6 59 5.0 +2.2
ACWI iShares MSCI ACWI ETF 0.1 32 33 4.6 +1.9
BKIE BNY Mellon International Equity ETF 0.1 4 61 6.0 +3.2
GSID Goldman Sachs MarketBeta International Equity ETF 0.1 20 45 5.8 +3.1
XT iShares Exponential Technologies ETF 0.1 46 19 3.9 +1.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.1 25 40 6.1 +3.4
CIL VictoryShares International Volatility Wtd ETF 0.1 45 20 5.9 +3.1
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.1 70 -5 6.6 +3.8
ACWV iShares MSCI Global Min Vol Factor ETF 0.1 20 45 5.7 +2.9
DIVI Franklin International Core Dividend Tilt Index ETF 0.1 9 56 6.6 +3.8
GLOF iShares Global Equity Factor ETF 0.0 20 45 5.6 +2.8
AQLT iShares MSCI Global Quality Factor ETF 0.0 18 47 0.0 -2.8
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -24 4.3 +1.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 56 4.8 +2.1
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 0.0 25 40 5.3 +2.5
FBCG Fidelity Blue Chip Growth ETF 0.0 59 6 2.2 -0.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 20 6.8 +4.0
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 45 4.7 +1.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.0 39 26 7.1 +4.3
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 26 6.3 +3.5
VIGI Vanguard International Dividend Appreciation ETF 0.0 10 55 6.0 +3.2
ONEQ Fidelity Nasdaq Composite Index ETF 0.0 21 44 2.9 +0.1
APIE ActivePassive International Equity ETF 0.0 45 20 6.4 +3.6
DEW WisdomTree Global High Dividend Fund 0.0 58 7 7.1 +4.4

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 9.5 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 2.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.45 CATEGORY
AVERAGE		 1.53
 
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.