KBND is benchmarked to the Bloomberg Barclays China Treasury and Policy Bank 9% Capped Index, which is designed to track the performance of China’s onshore renminbi-denominated government and government-related bond market. The Fund seeks to invest at least 80% of its assets in a basket of fixed income securities issued by either China’s Ministry of Finance itself or government-owned banks within China.
- Invests in treasuries (i.e. government bonds) and attempts to provide attractive yields relative to other government bond markets with a monthly distribution.
- KBND offers access to the securities being included in Bloomberg Barclays broad fixed income indexes and investment opportunities within the second largest bond market in the world.
- For investors seeking diversification within their global government bond allocations, KBND offers low correlations to other major government bond markets.
Bloomberg Barclays China Bond Inclusion Overview:
- The inclusion process began in April 2019 and is expected to conclude at the end of 2020.
- The market estimates nearly $150 billion of fund inflows into China’s $13 trillion onshore bond market.1
- China’s government bonds are a focus of the inclusion and China has already replaced South Korea as the top issuer by weight within the Bloomberg Barclays Emerging Market Local Currency Government Bond Index.
1. Financial Times, “Bloomberg adds Chinese government bonds to flagship index”, 31/03/2019.
Data as of 08/07/2020
|Net Asset Value||$24.83 |
Cumulative %Data as of: 07/31/2020
Cumulative % Data as of quarter end: 06/30/2020
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.
Top 10 Holdings
Data as of 08/07/2020
Full Holdings .CSV
|Rank||Company Name||% of Net Assets||Ticker||Shares Held||Market Value($)|
CGB 2.94 10/17/24
CGB 3.17 04/19/23
CGB 3.13 11/21/29
EXIMCH 3.37 06/03/22
ADBCH 4.37 05/25/23
SDBC 3.18 05/17/22
CGB 4.22 03/19/48
CGB 4 06/24/69
CGB 3.54 08/16/28
Holdings are subject to change.