Fund Documents


Investment Strategy:

The KraneShares MSCI China Clean Technology Index UCITS ETF (KGRN) is a passively managed fund that seeks to track the performance of the MSCI China IMI Environment 10/40 (USD Net) Index. The Index is comprised of securities that derive at least 50% of their revenues from environmentally beneficial products and services. The Index is based on four key Clean Technology environmental themes: Alternative Energy, Sustainable Water, Pollution Prevention and Energy Efficiency. The Index aims to serve as a benchmark for investors seeking exposure to Chinese companies that focus on contributing to a more environmentally sustainable economy by making efficient use of scarce natural resources or by mitigating the impact of environmental degradation. Constituent selection is based on data from MSCI Environment, Social, and Governance (ESG). ​

KGRN has been classified as an Article 8 investment under the EU Sustainable Finance Disclosure Regulation (SFDR).

China’s Environmental Protection Highlights:

  • China is expected to remain the global leader in renewable energy over the next five years, accounting for almost half of new renewable power capacity from 2022-20271.
  • China allocated $607 million for its 2022 renewable power subsidy2 and is projected to have renewable energy account for over 40% of its electricity consumption by 20271.
  • China plans to hit peak emissions before 2030 and reach carbon neutrality by 20604. In 2021, China launched its national emission trading scheme (ETS)—now the largest carbon market in the world, which should help the country meet its emission reduction goals.
  • Historically, China has a proven track record of achieving ambitious long term renewable energy goals set forth within The Five-Year Plan.​

KGRN Features:

  • Access to China’s fast-growing environmental protection industry that has rapidly become the largest renewable energy market in the world1.
  • Exposure to companies that stand to benefit from China’s increased focus and spending on clean energy technologies.​
  • Benchmarked to an MSCI ESG Index: MSCI is the #1 Socially Responsible Investment (SRI) and corporate governance research firm for the last four years, as determined by the Extel & SRI Connect Independent Research in Responsible Investment (IRRI) Survey.​

1. EA, “Renewables 2021: Report Extract, Executive Summary,” retrieved on 30/Sep/2023.
2. Reuters, “China sets 2022 renewable power subsidy at $607 mln”, 15/Nov/2021, retrieved on 30/Sep/2023.
3. Bloomberg, “China Steps Up Its Push Into Clean Energy”, 26/Nov/2018, retrieved on 30/Sep/2023.
4. Reuters, “China pledges to achieve CO2 emissions peak before 2030, carbon neutrality before 2060 –Xi”, 22/Nov/2020, retrieved on 30/Sep/2023.​

Daily Performance

Data for USD share class as of 27/Nov/2023
Daily Net Asset Value (NAV)
NAV $23.77
NAV Daily Change -1.78%

Performance History

Cumulative %
Data for USD share class as of: 31/Oct/2023
Fund NAV Index
1 Month
3 Month
6 Month
Since Inception -5.64% -5.25%
Cumulative %
Data for USD share class as of quarter end: 30/Sep/2023
Fund NAV Index
Since Inception

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 27/Nov/2023 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 LI AUTO INC-CLASS A 10.51% 2015 KYG5479M1050 12,300 249,870
2 BYD CO LTD-H 8.40% 1211 CNE100000296 7,000 199,605
3 CONTEMPORARY A-A 7.52% 300750 CNE100003662 7,500 178,696
4 NIO INC - ADR 6.53% NIO US62914V1061 21,602 155,318
5 XPENG INC-A SHRS 5.73% 9868 KYG982AW1003 15,000 136,190
6 CHINA LONGYUAN-H 4.98% 916 CNE100000HD4 150,000 118,385
7 YADEA GROUP HOLDINGS LTD 4.88% 1585 KYG9830F1063 60,000 115,959
8 XINYI SOLAR HOLDINGS LTD 3.75% 968 KYG9829N1025 144,000 89,071
9 CRRC TIMES ELEC 3.24% 3898 CNE1000004X4 25,400 77,089
10 LONGI GREEN EN-A 2.86% 601012 CNE100001FR6 22,300 68,073

Holdings are subject to change.


Data as of 27/Nov/2023
Exchange Ticker Currency Listing Date SEDOL ISIN
London Stock Exchange KGRN LN USD 12/Oct/2023 BQT53D1 IE000Y61WD48
Deutsche Börse Xetra KGNE GY EUR 12/Oct/2023 BQT53D1 IE000Y61WD48
Borsa Italiana KGRN IM EUR 13/Oct/2023 BQT53D1 IE000Y61WD48

Each share class is offered in the base currency noted above. To the extent the fund holds exposure to any positions in a currency different to the base currency, that position is unhedged.