KCCB
KraneShares CCBS China Corporate High Yield Bond USD Index ETFKCCB Fund Description
KCCB tracks a market-value-weighted index of USD-denominated high-yield bonds issued by Chinese companies. Holdings have between 2 and 5 years to maturity, or are perpetual issues.
KCCB Factset Analytics Insight
KCCB is the first high-yield bond ETF focused exclusively on Chinese firms, which the fund defines to include Hong Kong. All holdings are denominated in USD, bypassing direct exposure to currency movements (as well as avoiding RQFII quotas). However, a weakening renminbi could indirectly raise default risk if issuers struggle to make their debt payments with more expensive dollars. While KCCB primarily holds fixed-rate issues with 2 to 5 years left to maturity, perpetual bonds make up a large portion of the portfolio. Perpetual issues are popular in China and offer some of the highest yields in the bond market, but they carry much greater interest rate exposure than a typical junk bond. Most also include a call option allowing the issuer to redeem them at a future date if interest rates fall. In addition to currency risk, credit risk, interest rate risk, and call risk, KCCB carries significant concentration risk—it holds debt from just a handful of issuers, mostly in the financial industry. For investors willing to take the plunge, however, the fund offers the potential for particularly juicy yields.
KCCB MSCI ESG Analytics Insight
The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of May 21, 2019 the KraneShares CCBS China Corporate High Yield Bond USD Index ETF MSCI ESG Fund Quality Score is 3.16 out of 10.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. KCCB ranks in the 25th percentile within its peer group and in the 2nd percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.
KCCB CHARTS AND PERFORMANCE
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KCCB Top 10 Holdings
KCCB Portfolio Data
KCCB Index Data
KCCB Portfolio Management
KCCB Tax Exposures
KCCB Fund Structure
KCCB Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of KCCB. KCCB is rated a N/A out of 5.
KCCB Tradability
KCCB Top 10 Holdings
KCCB Performance Statistics
KCCB MSCI ESG Ratings
KCCB HOLDINGS STATISTICS
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KCCB MATURITY DISTRIBUTION
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KCCB CREDIT BREAKDOWN
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