KCNY

KraneShares E Fund China Commercial Paper ETF
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*Unless otherwise stated, data provided by FactSet.

KCNY Fund Description

KCNY tracks an index of China onshore investment-grade commercial paper denominated in renminbi and issued by corporations and sovereign and quasi-sovereign entities.

KCNY Factset Analytics Insight

KCNY aims to provide a money market mutual fund-like combination of capital preservation, current income and liquidity in the context of the Chinese market. To do so, the fund relies on RMB Qualified Foreign Institutional Investors (R-QFII) quota and access to China's interbank market. The fund holds investment-grade coupon-bearing commercial paper issued by government and quasi-government entities and corporations (both state-owned and private). The fund tries to minimize credit and duration risk by holding only investment-grade paper with less than 1 year remaining in maturity. Since the fund holds securities denominated in renminbi and doesn't use any currency hedges, FX volatility will play a role in the fund's performance. KCNY sees poor trading volume and the spreads are sizeable, though it also experiences sporadic volume spikes. Underlying liquidity is strong, however. KCNY charges a reasonable fee for its unique exposure to China's onshore debt market, but the turnover in the commercial paper market poses a hurdle to tracking, and the fund's modest asset base raises some closure concerns.

KCNY CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
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  • 5 Years
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COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/18/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
KCNY 0.78% -2.22% 1.74% 1.64% 2.59% -- --
KCNY (NAV) 0.57% -1.91% 1.49% 1.01% 2.47% -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

KCNY Top 10 Holdings

KCNY Summary Data

KraneShares
12/03/14
Open-Ended Fund
0.62%
$20.04M
$151.97K
0.32%

KCNY Portfolio Data

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07/05/16
3

KCNY Index Data

Market Value
Credit Rating
N/A

KCNY Portfolio Management

0.62%
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KCNY Tax Exposures

20.00% / 39.60%
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Ordinary income
No

KCNY Fund Structure

Open-Ended Fund
No
No
No Policy
N/A
N/A
High
Daily
Cboe Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

KCNY Factset Analytics Block Liquidity

As of 07/19/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of KCNY. KCNY is rated a N/A out of 5.

KCNY Tradability

4,364
$151.97K
2,075
$70.37K
0.32%
$0.11
-0.06%
0.75% / -1.29%
None
0.00%
50,000
0.04
0.06%
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$33.37
N/A

KCNY Top 10 Holdings

83.05%
13.27%
3.68%
100%

KCNY Performance Statistics

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KCNY HOLDINGS STATISTICS

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3
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KCNY AVG LIFE MATURITY DISTRIBUTION

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KCNY OAS BREAKDOWN

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