Overview

Performance

Growth of USD 10,000

Holdings

Listings

Fund Documents

Overview

Investment Strategy:

KSTR seeks to track the performance of the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index (STAR 50 Index). The Index is comprised of the 50 largest companies listed on the SSE Science and Technology Innovation Board (STAR Market) as determined by market capitalization and liquidity.

STAR Market Highlights:

  • Facilitates the fast-tracking of private science and technology companies to an initial public offering (IPO).
  • Since its establishment in July 2019, the STAR Market has become one of the largest IPO markets globally1 and a premier listing venue for prominent Chinese unicorns (privately held startup companies valued at over $1 billion).
  • Recent increases in fund-raising activity on Chinese exchanges can largely be attributed to the STAR Market, which accounted for 41% of capital raised across China’s Mainland A-Share market in 20222.
  • Potential inclusion in the SSE Composite Index and Shanghai-Hong Kong Stock Connect could result in greater flows for STAR Market securities.

KSTR Features:

  • Exposure to companies poised to be China’s future leaders across industries that could represent the growth engine of China for decades to come.
  • Innovation-driven science and technology companies in China that offer a potential source of uncorrelated, long-term growth.
  • Includes companies from industries such as new-generation information technology, biomedicine, new energy, and environmental protection.

1. YiCai Global, “China’s Year-Old Star Market Outshines the Venerable Nasdaq”, 2020/Jul/23. Retrieved 2024/Mar/31.
2. PWC, “A-share IPOs lead the world; fundraising sets a new record in 2022”, 2022/Dec/5. Retrieved 2024/Mar/31.

Fund Details

Data as of 17/Apr/2025
Ticker KSTR
Primary SEDOL BMBNL20
Primary ISIN IE00BKPJY434
Net Assets $9,344,244
Total Annual Fund Operating Expense 0.82%
Inception Date 26/May/2021
Distribution Frequency Accumulating

Daily Performance

Data for USD share class as of 17/Apr/2025
Daily Net Asset Value (NAV)
NAV $14.26
NAV Daily Change 0.35%

Performance History

Cumulative %
Data for USD share class as of: 31/Mar/2025
Fund NAV Underlying Index
1 Month -4.42% -4.69%
3 Month 5.38% 4.14%
6 Month 8.94% 13.51%
YTD 5.38% 4.14%
Since Inception -42.00% -32.70%
Avg Annualized %
Data for USD share class as of quarter end: 31/Mar/2025
Fund NAV Underlying Index
1 Year 25.87% 34.57%
3 Year -10.01% -5.83%
Since Inception -13.19% -9.77%

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.

Topics:

Growth of USD 10,000

Data as of 17/Apr/2025

The Growth of USD 10,000 chart reflects an initial investment of USD 10,000 in the Fund's USD share class on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of USD 10,000 chart since inception, the initial investment of USD 10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a USD 10,000 investment in the fund is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 17/Apr/2025 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Shares Held Market Value($)
1 CHINESE YUAN RENMINBI 114.63% – – 36,400,360 4,983,620
2 HYGON INFORMAT-A 10.50% 688041 BMZNGH6 21,659 456,666
3 CAMBRICON TECHNOLOGIES-A 10.37% 688256 CNE1000041R8 4,863 450,746
4 MONTAGE TECHNO-A 6.13% 688008 CNE100003MN7 26,617 266,389
5 ADVANCED MICRO-A 6.12% 688012 CNE100003MM9 10,149 266,092
6 BEIJING KINGSO-A 5.59% 688111 CNE100003PM2 5,720 243,163
7 SHANGHAI UNITE-A 4.20% 688271 BN47MR8 10,193 182,662
8 SHENZHEN TRANS-A 3.00% 688036 CNE100003P74 11,283 130,348
9 VERISILICON MI-A 2.87% 688521 CNE100004413 8,664 124,705
10 SUPCON TECHNOLOGY CO-A 2.36% 688777 CNE100005D92 15,645 102,494

Holdings are subject to change.

Listings

Data as of 17/Apr/2025
Exchange Ticker Currency Listing Date SEDOL ISIN
London Stock Exchange KSTR LN USD 26/May/2021 BMBNL20 IE00BKPJY434
Borsa Italiana KSTR IM EUR 21/Jul/2021 — IE00BKPJY541
London Stock Exchange KSTP LN GBP 17/May/2023 BRSDHB9 IE00BKPJY434
Deutsche Börse KSRE GY EUR 10/Oct/2023 — IE00BKPJY434

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.

Fund Documents

©2025 Krane Funds Advisors, LLC
280 Park Avenue, 32nd Floor, New York, NY 10017

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. The Funds are subject to political, social or economic instability within China which may cause decline in value. Fluctuations in currency of foreign countries may have an adverse effect to domestic currency values. Emerging markets involve heightened risk related to the same factors as well as increase volatility and lower trading volume.

Narrowly focused investments typically exhibit higher volatility. Internet companies are subject to rapid changes in technology, worldwide competition, rapid obsolescence of products and services, loss of patent protections, evolving industry standards and frequent new product productions. Such changes may have an adverse impact on performance.

This material is for information only and does not constitute an offer or recommendation to buy or sell any investment, or subscribe to any investment management or advisory service. It is not, under any circumstances, intended for distribution to the general public. You are accessing information which constitutes a financial promotion under section 21 of the Financial Services and Markets Act 2000 ("FSMA"). In relation to the United Kingdom, this information is only directed at, and may only be distributed to, persons who are “Investment Professionals” (being persons having professional experience in matters relating to investments) within the meaning of article 19(5) of the FSMA (Financial Promotion) Order 2005 (the “Financial Promotion Order ”), persons to whom any of paragraphs (2)(a) to (d) of article 49 (high net worth companies, unincorporated associations etc.) of the financial promotion order apply, or persons to whom distribution may otherwise lawfully be made.

Any investment, and investment activity or controlled activity, to which this information relates is available only to such persons and will be engaged in only with such persons. Persons that do not have professional experience should not rely or act upon this information unless they are persons to whom any of paragraphs (2)(a) to (d) of article 49 apply to whom distribution of this information may otherwise lawfully be made.

The views and opinions expressed in this material are those of the authors Krane Fund Advisors. These opinions have been given in good faith but are subject to change without notice. It is the responsibility of the investor to evaluate the accuracy, completeness and usefulness of any opinions, advice, services, or other information provided.

This material may not be suitable for all investors. Any performance quoted represents past performance and is no guarantee of future results. Past performance is not indicative or a guarantee of future performance. Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information, including historical and the most recent month-end performance, can be found in the Fund Literature (Prospectus, Supplement, KIID, PRIIP), which may be obtained at our website www.kraneshares.eu or at the website of our management company www.waystone.com. KIID and PRIIP documents are available in the language of any Member State where such fund is distributed.

Krane Funds Advisors, LLC is appointed to act as investment manager in accordance with the requirements of the Central Bank. Waystone Management Company (IE) Limited is appointed to provide management services to the ICAV in accordance with the requirements of the Central Bank. The Management Company may decide to terminate the arrangements made for the marketing of the Fund in accordance with Article 93a of Directive 2009/65/EC.

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Disclaimer: 

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