KraneShares Launches China Internet Covered Call ETF (Ticker: KLIP) on the New York Stock Exchange
2023年1月12日 - 10:30PM
Krane Funds Advisors, LLC (“KraneShares”), an asset management firm
known for its China-focused exchange-traded funds (ETFs) and
innovative investment strategies, announced the launch of the
KraneShares China Internet & Covered Call Strategy ETF (ticker:
KLIP) on the New York Stock Exchange.
KLIP seeks to provide current income by following a “covered
call” or “buy-write” strategy. KLIP buys shares of the KraneShares
CSI China Internet ETF (ticker: KWEB) and “writes” or “sells”
corresponding call options on KWEB. KWEB is one of the world’s
leading China region ETFs with more than nine years of track record
and over $7.5 billion in assets under management.1 KWEB offers
exposure to companies within China’s rapidly growing internet
sector. Top holdings include, Alibaba, Tencent, Meituan, and
JD.com.2
A covered call ETF is an exchange-traded fund that provides
investors with income by writing options on stocks or ETFs. Covered
call ETFs manage the options exposure for investors, which can be
more economical and time efficient than buying individual stock
options. Covered call ETFs can be attractive to investors seeking
both income and more stable equity market returns because covered
calls typically produce higher yields during periods of increasing
market volatility.
Since the China internet sector has historically been more
volatile than the US internet / technology sector, KLIP has the
potential to provide higher yields than covered call strategies
based on those markets.
“We are excited to launch KLIP and bring the significant income
potential of a covered call KWEB strategy to investors,” said
Jonathan Shelon, Chief Operating Officer at KraneShares and KLIP
portfolio manager. “We believe combining allocations to both KWEB
and KLIP can help produce an even more attractive growth and
targeted income strategy. KLIP allows investors to trade
performance uncertainty for more stable income.”
“We are thrilled to add a covered call strategy to our suite of
China ETFs,” said Jonathan Krane, CEO of KraneShares. “By writing
covered calls on KWEB, an established ETF with a deep options
market, KLIP provides investors the opportunity to generate
additional income while potentially reducing volatility in their
portfolio. This strategy can be a valuable tool for those looking
to enhance their income and manage risk in China-focused
investments.”
For additional information on the KraneShares China Internet
& Covered Call Strategy ETF (ticker: KLIP),
visit kraneshares.com/klip or contact your financial
advisor.
About Krane Funds Advisors, LLCKrane Funds
Advisors, LLC is the investment manager for KraneShares ETFs. Our
suite of China-focused ETFs provides investors with solutions to
capture China’s importance as an essential element of a
well-designed investment portfolio. We strive to deliver innovative
first-to-market strategies developed based on our strong
partnerships and deep investing knowledge. We help investors stay
current on global market trends and aim to provide meaningful
diversification. Krane Funds Advisors, LLC, is a signatory of the
United Nations-supported Principles for Responsible Investing (UN
PRI). The firm is majority-owned by China International Capital
Corporation (CICC).
Citations:
- As of Jan 10, 2023
- % of KWEB net assets of holdings mentioned: Alibaba 9.25%,
Tencent 10.05%, Meituan 7.77%, JD.com 6.26% as of Jan 10, 2023.
Holdings are subject to change.
Carefully consider the Fund's investment objectives,
risk factors, charges, and expenses before investing. This and
additional information can be found in the Fund's full and summary
prospectus, which may be obtained by visiting
www.kraneshares.com Read the prospectus
carefully before investing.
Risk Disclosures:Carefully consider the
Funds’ investment objectives, risk factors, charges and expenses
before investing. This and additional information can be found in
the Funds’ full and summary prospectus, which may be obtained by
visiting: KLIP. Read the
prospectus carefully before investing. Please note these links also
contain the Funds' top ten holdings, performance, and other
important information.Risk
Disclosures:Investing involves risk, including possible
loss of principal. There can be no assurance that a Fund will
achieve its stated objectives. Indices are unmanaged and do not
include the effect of fees. One cannot invest directly in an
index.This information should not be relied upon as research,
investment advice, or a recommendation regarding any products,
strategies, or any security in particular. This material is
strictly for illustrative, educational, or informational purposes
and is subject to change. Certain content represents an assessment
of the market environment at a specific time and is not intended to
be a forecast of future events or a guarantee of future results;
material is as of the dates noted and is subject to change without
notice.By writing covered call options in return for the receipt of
premiums, the Fund will give up the opportunity to benefit from
potential increases in the value of the Index above the exercise
prices of such options, but will continue to bear the risk of
declines in the value of the Index. The premiums received from the
options may not be sufficient to offset any losses sustained from
the volatility of the underlying stocks over time. As a result, the
risks associated with writing covered call options may be similar
to the risks associated with writing put options. In addition, the
Fund’s ability to sell the securities underlying the options will
be limited while the options are in effect unless the Fund cancels
out the option positions through the purchase of offsetting
identical options prior to the expiration of the written options.
As the writer of a call option, the Fund may not be able to control
the time when it may be required to fulfill its obligation to the
purchaser of the option; however, the terms of the FLEX options
written by the Fund will make them exercisable only on their
expiration date. Exchanges may suspend the trading of options in
volatile markets. If trading is suspended, the Fund may be unable
to write options at times that may be desirable or advantageous to
do so.The Fund may invest in derivatives, which are often more
volatile than other investments and may magnify the Fund's gains or
losses. A derivative (i.e., futures/forward contracts, swaps, and
options) is a contract that derives its value from the performance
of an underlying asset. The primary risk of derivatives is that
changes in the asset’s market value and the derivative may not be
proportionate, and some derivatives can have the potential for
unlimited losses. Derivatives are also subject to liquidity and
counterparty risk. The Fund is subject to liquidity risk, meaning
that certain investments may become difficult to purchase or sell
at a reasonable time and price. If a transaction for these
securities is large, it may not be possible to initiate, which may
cause the Fund to suffer losses. Counterparty risk is the risk of
loss in the event that the counterparty to an agreement fails to
make required payments or otherwise comply with the terms of the
derivative.The ability of the Fund to achieve its respective
investment objectives is dependent, in part, on the continuous
availability of A Shares and the ability to obtain, if necessary,
additional A Shares quota. If the Fund is unable to obtain
sufficient exposure to limited availability of A Share quota, the
Fund could seek exposure to the component securities of the
Underlying Index by investment in other types of securities. The
Fund is subject to political, social or economic instability within
China which may cause decline in value. Emerging markets involve
heightened risk related to the same factors as well as increase
volatility and lower trading volume. Fluctuations in currency of
foreign countries may have an adverse effect to domestic currency
values. The Fund may invest in Initial Public Offerings (IPOs).
Securities issued in IPOs have no trading history, and information
about the companies may be available for very limited periods. In
addition, the prices of securities sold in IPOs may be highly
volatile. In addition, as the Fund increases in size, the impact of
IPOs on the Fund’s performance will generally decrease.The Fund is
new and does not yet have a significant number of shares
outstanding. If the Fund does not grow in size, it will be at
greater risk than larger funds of wider bid-ask spreads for its
shares, trading at a greater premium or discount to NAV,
liquidation and/or a trading halt. Narrowly focused investments
typically exhibit higher volatility. The Fund’s assets are expected
to be concentrated in a sector, industry, market, or group of
concentrations to the extent that the Underlying Index has such
concentrations. The securities or futures in that concentration
could react similarly to market developments. Thus, the Fund is
subject to loss due to adverse occurrences that affect that
concentration. In addition to the normal risks associated with
investing, investments in smaller companies typically exhibit
higher volatility. KLIP is non-diversified.ETF shares are bought
and sold on an exchange at market price (not NAV) and are not
individually redeemed from the Fund. However, shares may be
redeemed at NAV directly by certain authorized broker-dealers
(Authorized Participants) in very large creation/redemption units.
The returns shown do not represent the returns you would receive if
you traded shares at other times. Shares may trade at a premium or
discount to their NAV in the secondary market. Brokerage
commissions will reduce returns. Beginning 12/23/2020, market price
returns are based on the official closing price of an ETF share or,
if the official closing price isn't available, the midpoint between
the national best bid and national best offer ("NBBO") as of the
time the ETF calculates the current NAV per share. Prior to that
date, market price returns were based on the midpoint between the
Bid and Ask price. NAVs are calculated using prices as of 4:00 PM
Eastern Time.The KraneShares ETFs, KFA Funds ETFs, and KraneShares
Mutual Funds are distributed by SEI Investments Distribution
Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is
not affiliated with Krane Funds Advisors, LLC, the Investment
Adviser for the Funds, or any sub-advisers for the
Funds.[R_US_KS_SEI]
KraneShares CSI China In... (AMEX:KWEB)
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