KraneShares CSI China Internet ETF
ALTAR
Score™		 -0.7% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 12.0x P/Sales
ratio		 1.5x
P/BV
ratio		 1.5x Div.
yield		 0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The KraneShares CSI China Internet ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the CSI Overseas China Internet Index. The index is designed to measure the performance of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Krane Fund Advisors LLC
Website www.kraneshares.com
Inception date Jul 31, 2013
Assets (mns) $5,785
Currency USD
Expense ratio 69 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 33
Wgt avg mkt cap (mns) $83,805
Large cap (>$10bn) 75.2%
Mid cap ($2-10bn) 24.2%
Small cap (<$2bn) 0.6%
Developed mkts 20.3%
Emerging mkts 79.7%

TOP TEN HOLDINGS
ALIBABA GROUP HOLDING LTD. 9.4 %
TENCENT HOLDINGS LTD 9.0 %
MEITUAN DIANPING 7.3 %
PINDUODUO, INC. SPONSORED ADR CLAS 7.2 %
NETEASE, INC 6.4 %
TRIP.COM GROUP LTD. 5.5 %
TAL EDUCATION GROUP UNSPONSORED AD 4.5 %
VIPSHOP HOLDINGS LTD SPONSORED ADR 4.4 %
KANZHUN LTD. SPONSORED ADR 4.3 %
TENCENT MUSIC ENTERTAINMENT GROUP 4.3 %
Total 62.4 %

TOP COUNTRY EXPOSURE
CHINA 93.6 %
HONG KONG 1.4 %









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.
-6.1% -17.3% -10.1% -2.0% 1.2%

Market Correlations
versus... Beta R-squared
S&P500 0.35 2%
MSCI EAFE 1.00 13%
MSCI Emg. Mkts. 2.05 59%

Technical Indicators
Recent close $28.01
30d moving avg. $27.51
Annualized volatility 47.0%
Short interest (ETF) 14.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 16,961
Turnover 8.2%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $2,494

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 182 potential alternatives to the KraneShares CSI China Internet ETF ETF based on the alternatives' overlap in portfolio holdings with KWEB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KWEB Expense: 69 bp ALTAR Score™: -0.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KWEB
Ticker Fund
Name		 Overlap1
vs KWEB
(%)		 Expense
ratio
(bp)		 Savings
vs KWEB
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KWEB
(%)
KTEC KraneShares Hang Seng TECH Index ETF 52.6 69 0 -3.9 -3.3
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 47.5 86 -17 1.9 +2.6
FDNI First Trust Dow Jones International Internet ETF 44.2 65 4 2.8 +3.4
FXI iShares China Large-Cap ETF 40.4 74 -5 9.6 +10.2
TCHI iShares MSCI China Multisector Tech ETF 39.5 59 10 3.0 +3.7
CQQQ Invesco China Technology ETF 37.4 70 -1 -5.7 -5.0
MCH Matthews China Active ETF 37.1 79 -10 6.1 +6.7
CHIQ Global X MSCI China Consumer Discretionary ETF 36.9 65 4 5.3 +6.0
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 36.1 60 9 0.9 +1.6
FLCH Franklin FTSE China ETF 34.7 19 50 9.6 +10.2
MCHI iShares MSCI China ETF 34.4 59 10 8.9 +9.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 33.4 32 37 5.7 +6.3
GXC SPDR S&P China ETF 28.7 59 10 9.0 +9.7
JCHI JPMorgan Active China ETF 24.8 65 4 7.9 +8.6
KALL KraneShares MSCI All China Index ETF 24.2 49 20 9.4 +10.0
CN Xtrackers MSCI All China Equity ETF 23.7 50 19 8.7 +9.3
PGJ Invesco Golden Dragon China ETF 21.7 70 -1 4.9 +5.6
AIA iShares Asia 50 ETF 21.6 50 19 6.9 +7.5
ECON Columbia Emerging Markets Consumer ETF 20.5 49 20 4.8 +5.4
BKF iShares MSCI BIC ETF 20.3 69 0 7.1 +7.7
SOCL Global X Social Media ETF 16.8 65 4 -5.8 -5.1
CGRO CoreValues Alpha Greater China Growth ETF 16.0 75 -6 2.6 +3.2
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 14.0 20 49 7.5 +8.1
LDEM iShares ESG MSCI EM Leaders ETF 13.3 17 52 7.8 +8.4
EEMA iShares MSCI Emerging Markets Asia ETF 13.0 49 20 6.7 +7.3
AAXJ iShares MSCI All Country Asia ex Japan ETF 11.9 70 -1 6.3 +6.9
EMC Global X Emerging Markets Great Consumer ETF 11.6 75 -6 4.9 +5.5
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 11.1 30 39 7.5 +8.2
FLAX Franklin FTSE Asia Ex Japan ETF 11.0 19 50 7.2 +7.8
GMF SPDR S&P Emerging Asia Pacific ETF 11.0 49 20 6.4 +7.0
IVRS iShares Future Metaverse Tech and Communications ETF 10.9 47 22 -5.3 -4.7
ESPO VanEck Video Gaming and eSports ETF 10.8 56 13 4.5 +5.2
SCHE Schwab Emerging Markets Equity ETF 10.4 11 58 7.6 +8.2
ODDS Pacer BlueStar Digital Entertainment ETF 10.3 60 9 3.0 +3.7
MINV Matthews Asia Innovators Active ETF 10.2 79 -10 2.8 +3.5
PXH Invesco FTSE RAFI Emerging Markets ETF 10.2 49 20 12.4 +13.1
EEM iShares MSCI Emerging Markets ETF 10.1 69 0 7.0 +7.6
EMXF iShares ESG Advanced MSCI EM ETF 9.9 16 53 7.4 +8.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 9.9 15 54 7.1 +7.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 9.8 66 3 7.2 +7.9
OND ProShares On-Demand ETF 9.7 58 11 -2.5 -1.8
MEM Matthews Emerging Markets Equity Active ETF 9.7 79 -10 5.7 +6.4
VWO Vanguard FTSE Emerging Markets ETF 9.6 8 61 7.6 +8.2
ESGE iShares ESG Aware MSCI EM ETF 9.3 25 44 7.7 +8.3
DINT Davis Select International ETF 9.2 55 14 4.7 +5.4
IWFH iShares Virtual Work and Life Multisector ETF 9.1 47 22 -3.5 -2.8
ISHP First Trust Nasdaq Retail ETF 9.1 60 9 3.2 +3.8
BKEM BNY Mellon Emerging Markets Equity ETF 9.0 11 58 7.7 +8.4
FDEM Fidelity Emerging Markets Multifactor ETF 8.8 25 44 11.9 +12.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 8.7 33 36 7.2 +7.8
IEMG iShares Core MSCI Emerging Markets ETF 8.6 9 60 7.5 +8.2
EMFQ Amplify Emerging Markets FinTech ETF 8.6 69 0 5.4 +6.1
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 8.5 36 33 7.5 +8.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 8.5 32 37 6.3 +6.9
DEHP Dimensional Emerging Markets High Profitability ETF 8.4 41 28 7.3 +7.9
SPEM SPDR Portfolio Emerging Markets ETF 8.4 7 62 7.5 +8.2
NUEM Nuveen ESG Emerging Markets Equity ETF 8.3 36 33 6.8 +7.4
MOTI VanEck Morningstar International Moat ETF 8.3 58 11 6.9 +7.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 7.8 45 24 8.6 +9.2
EMGF iShares Emerging Markets Equity Factor ETF 7.5 25 44 8.7 +9.3
GGME Invesco Next Gen Media and Gaming ETF 7.4 60 9 4.1 +4.8
ONLN ProShares Online Retail ETF 7.2 58 11 3.1 +3.7
DFAE Dimensional Emerging Core Equity Market ETF 7.2 35 34 7.7 +8.4
DWLD Davis Select Worldwide ETF 7.1 63 6 5.6 +6.3
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 7.0 41 28 7.8 +8.5
CHAT Roundhill Generative AI & Technology ETF 7.0 75 -6 4.2 +4.9
DSTX Distillate International Fundamental Stability & Value ETF 6.8 55 14 8.0 +8.7
IXP iShares Global Comm Services ETF 6.8 42 27 5.3 +6.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 6.5 39 30 12.5 +13.2
OGIG ALPS O'Shares Global Internet Giants ETF 6.2 48 21 0.5 +1.1
EBIZ Global X E-Commerce ETF 6.2 50 19 1.2 +1.8
ARVR First Trust Indxx Metaverse ETF 6.0 70 -1 2.5 +3.2
FMET Fidelity Metaverse ETF 5.9 39 30 4.4 +5.0
DFEM Dimensional Emerging Markets Core Equity 2 ETF 5.8 38 31 8.2 +8.9
IRBO iShares Robotics and Artificial Intelligence Multisector ETF 5.7 47 22 0.7 +1.3
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 5.6 95 -26 11.4 +12.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.5 59 10 9.6 +10.2
IBUY Amplify Online Retail ETF 5.4 65 4 1.8 +2.4
WUGI AXS Esoterica NextG Economy ETF 5.2 75 -6 2.1 +2.8
METV Roundhill Ball Metaverse ETF 5.2 59 10 3.4 +4.0
FPXI First Trust International Equity Opportunities ETF 5.1 70 -1 3.6 +4.3
JHEM John Hancock Multifactor Emerging Markets ETF 5.0 49 20 8.3 +9.0
EDOC Global X Telemedicine & Digital Health ETF Registered 4.7 68 1 -5.5 -4.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 4.7 30 39 8.5 +9.2
AVEM Avantis Emerging Markets Equity ETF 4.6 33 36 9.1 +9.7
AIQ Global X Artificial Intelligence & Technology ETF 4.6 68 1 4.2 +4.8
GBUY Goldman Sachs Future Consumer Equity ETF 4.6 75 -6 3.1 +3.8
RXI iShares Global Consumer Discretionary ETF 4.3 41 28 5.5 +6.2
FEEM FlexShares ESG & Climate Emerging Markets Core Index ETF 4.2 18 51 7.9 +8.5
JIG JPMorgan International Growth ETF 3.8 55 14 4.3 +5.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 3.7 40 29 7.1 +7.8
PTEC Global X PropTech ETF 3.5 50 19 1.7 +2.3
ANEW ProShares MSCI Transformational Changes ETF 3.5 45 24 3.3 +4.0
BUYZ Franklin Disruptive Commerce ETF 3.5 50 19 2.1 +2.7
WRND IQ Global Equity R&D Leaders ETF 3.5 18 51 7.2 +7.8
IPOS Renaissance International IPO ETF 3.3 80 -11 -168.9 -168.3
DFEV Dimensional Emerging Markets Value ETF 3.3 43 26 10.9 +11.6
FDHT Fidelity Digital Health ETF 3.3 39 30 -2.4 -1.8
ACWX iShares MSCI ACWI ex U.S. ETF 2.8 34 35 6.7 +7.4
MRAD SmartETFs Advertising & Marketing Technology ETF 2.8 68 1 4.2 +4.8
CWI SPDR MSCI ACWI ex-US ETF 2.7 30 39 6.8 +7.5
VEU Vanguard FTSE All-World ex-US Index Fund 2.7 8 61 7.2 +7.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.7 41 28 6.7 +7.3
GTEK Goldman Sachs Future Tech Leaders Equity ETF 2.7 75 -6 3.2 +3.8
MOTG VanEck Morningstar Global Wide Moat ETF 2.6 52 17 5.8 +6.4
AADR AdvisorShares Dorsey Wright ADR ETF 2.5 110 -41 5.4 +6.0
IXUS iShares Core MSCI Total International Stock ETF 2.5 7 62 6.9 +7.6
VXUS Vanguard Total International Stock ETF 2.5 7 62 7.1 +7.8
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 2.4 57 12 3.8 +4.5
KOIN Capital Link Global Fintech Leaders ETF 2.4 75 -6 4.6 +5.3
TTAI FCF International Quality ETF 2.3 59 10 7.4 +8.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 2.2 42 27 6.8 +7.5
XNTK SPDR NYSE Technology ETF 2.2 35 34 4.0 +4.6
AVES Avantis Emerging Markets Value ETF 2.1 36 33 12.1 +12.7
GINN Goldman Sachs Innovate Equity ETF 2.0 52 17 2.7 +3.4
VSGX Vanguard ESG International Stock ETF 2.0 12 57 6.8 +7.5
AWAY ETFMG Travel Tech ETF 2.0 76 -7 -4.1 -3.5
ECNS iShares MSCI China Small-Cap ETF 1.8 59 10 14.2 +14.8
UMMA Wahed Dow Jones Islamic World ETF 1.8 65 4 4.3 +5.0
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 1.6 61 8 -4.0 -3.4
IPO Renaissance IPO ETF 1.6 60 9 -3.2 -2.6
GAMR Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T 1.5 75 -6 5.2 +5.9
BWEB Bitwise Web3 ETF 1.4 85 -16 0.9 +1.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.4 50 19 10.5 +11.2
KOCG FIS Knights of Columbus Global Belief ETF 1.4 75 -6 5.3 +6.0
ROAM Hartford Multifactor Emerging Markets ETF 1.4 44 25 11.7 +12.3
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 1.4 60 9 10.0 +10.7
MVPS Amplify Thematic All-Stars ETF 1.2 49 20 1.7 +2.3
EMMF WisdomTree Emerging Markets Multifactor Fund 1.2 48 21 9.4 +10.0
DFAX Dimensional World ex U.S. Core Equity 2 ETF 1.2 30 39 7.8 +8.4
JFWD Jacob Forward ETF 1.2 75 -6 0.0 +0.7
SATO Invesco Alerian Galaxy Crypto Economy ETF 1.1 61 8 -13.0 -12.3
ACWI iShares MSCI ACWI ETF 1.0 32 37 5.5 +6.1
IOO iShares Global 100 ETF 1.0 41 28 4.8 +5.5
HTEC ROBO Global Healthcare Technology and Innovation ETF 1.0 68 1 1.1 +1.8
TRFM AAM Transformers ETF 1.0 49 20 1.3 +1.9
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.0 20 49 5.6 +6.3
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.0 9 60 5.7 +6.4
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 1.0 58 11 4.8 +5.5
APIE ActivePassive International Equity ETF 1.0 45 24 7.7 +8.4
KOMP SPDR S&P Kensho New Economies Composite ETF 0.9 20 49 2.1 +2.7
VT Vanguard Total World Stock ETF 0.9 7 62 5.8 +6.5
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 57 5.1 +5.7
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.9 65 4 8.4 +9.0
CGXU Capital Group International Focus Equity ETF 0.9 54 15 4.1 +4.8
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 0.8 35 34 4.8 +5.5
QINT American Century Quality Diversified International ETF 0.8 39 30 7.4 +8.1
FEMS First Trust Emerging Markets Small Cap AlphaDEX Fund 0.7 80 -11 14.2 +14.8
NBCC Neuberger Berman Next Generation Connected Consumer ETF 0.7 56 13 1.7 +2.3
DGT SPDR Global Dow ETF 0.6 50 19 6.7 +7.3
QQQ Invesco QQQ Trust Series I 0.6 20 49 4.6 +5.3
QQQM Invesco NASDAQ 100 ETF 0.6 15 54 4.7 +5.4
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.6 47 22 10.3 +10.9
IQDF FlexShares International Quality Dividend Index Fund 0.6 47 22 10.7 +11.4
JETS U.S. Global Jets ETF 0.6 60 9 -15.6 -15.0
IQDE FlexShares International Quality Dividend Defensive Index ET 0.5 47 22 10.7 +11.3
IGPT Invesco AI and Next Gen Software ETF 0.5 60 9 3.8 +4.5
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 0.5 65 4 1.6 +2.3
FINX Global X FinTech ETF 0.4 68 1 3.2 +3.9
SDIV Global X Superdividend ETF 0.4 58 11 17.6 +18.3
XT iShares Exponential Technologies ETF 0.4 46 23 3.9 +4.5
ONEQ Fidelity Nasdaq Composite Index ETF 0.4 21 48 3.9 +4.6
QQMG Invesco ESG NASDAQ 100 ETF 0.3 20 49 4.7 +5.4
FPAG FPA Global Equity ETF 0.3 49 20 5.7 +6.3
JRNY ALPS Global Travel Beneficiaries ETF 0.3 65 4 0.0 +0.7
PNQI Invesco NASDAQ Internet ETF 0.3 60 9 2.6 +3.3
FBCG Fidelity Blue Chip Growth ETF 0.3 59 10 2.6 +3.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 0.3 70 -1 11.4 +12.0
TDIV First Trust NASDAQ Technology Dividend Index Fund 0.2 50 19 5.8 +6.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 0.2 70 -1 7.2 +7.9
OCEN IQ Clean Oceans ETF 0.1 45 24 5.3 +6.0
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.1 44 25 10.3 +11.0
SDG iShares MSCI Global Sustainable Development Goals ETF 0.1 49 20 5.8 +6.4
GLOF iShares Global Equity Factor ETF 0.1 20 49 7.1 +7.7
VYMI Vanguard International High Dividend Yield ETF 0.1 22 47 9.7 +10.4
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -20 4.8 +5.4
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 0.0 20 49 10.7 +11.4
ACWV iShares MSCI Global Min Vol Factor ETF 0.0 20 49 6.7 +7.4
IQSI IQ Candriam International Equity ETF 0.0 15 54 6.4 +7.1
GSID Goldman Sachs MarketBeta International Equity ETF 0.0 20 49 6.7 +7.3
BKIE BNY Mellon International Equity ETF 0.0 4 65 6.9 +7.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 0.0 39 30 7.6 +8.3

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 CSI China Internet 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 0.0 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 69 bp
Equals: ALTAR Score -0.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.23 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.