KWEB — KraneShares CSI China Internet ETF

KWEB Price Performance — Growth of $10,000

Value of a $10,000 investment in KWEB over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

KWEB Drawdown

The "underwater" chart: KWEB's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The KraneShares CSI China Internet ETF (KWEB) is an emerging market single-country fund issued by KraneShares with $4.50 billion in assets under management. It holds an ETFValuer grade of F, ranking 21st out of 22 peers in its category and 453rd of 458 tracked ETFs overall. The fund charges an expense ratio of 0.69%, which exceeds the category median of 0.59%. Despite the high cost, it offers a dividend yield of 9.06%, significantly above the category median of 2.68%. The portfolio is concentrated, with the top ten holdings representing 60.8% of assets, led by Tencent Holdings Limited at 10.4%.

KWEB has experienced substantial declines across multiple time horizons, with one-year returns of -37.79% trailing the category median of +7.84%. Short-term momentum remains negative, showing losses of -0.30% over one day and -5.20% over one week. The fund’s price of $23.14 sits at the very bottom of its 52-week range, representing only 1.1% of the distance between its low and high. Year-to-date performance has dropped by 35.05%, while the three-year return stands at -3.01%. The ETFValuer grade has remained unchanged at F for the last 35 tracked days, and price history is available for only 3.0 years.

The fund exhibits high volatility at 26.30% annualized, accompanied by a beta of 0.73, indicating it moves less than the broader market. A Sharpe ratio of -1.63 suggests poor risk-adjusted returns relative to the risk taken. Maximum drawdowns have reached -42.83%, highlighting significant potential for capital erosion. Liquidity is robust, with an average daily volume of 17,112,885 shares facilitating easy entry and exit. These metrics collectively describe a history of high risk and negative performance without predicting future behavior.

AI-generated summary based on the data on this page.

KWEB Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 60.8% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how KWEB's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With KWEB

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with KWEB's top 10 — MCHI overlaps most, holding 5 of the same companies as KWEB's top 10 (39.9% of KWEB's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

KWEB Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 17.1M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $4.50B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: KWEB is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

KWEB Performance History

How KWEB Compares to Other Single Country - Emerging ETFs