KraneShares SSE STAR Market 50 Index ETF
ALTAR
Score™		 0.7% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 81.6x P/Sales
ratio		 5.7x
P/BV
ratio		 6.7x Div.
yield		 0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
KSTR tracks an index of the top 50 companies by market-cap that are listed on the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Krane Fund Advisors LLC
Website www.kraneshares.com
Inception date Jan 27, 2021
Assets (mns) $208
Currency USD
Expense ratio 89 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 52
Wgt avg mkt cap (mns) $14,114
Large cap (>$10bn) 51.7%
Mid cap ($2-10bn) 43.4%
Small cap (<$2bn) 1.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
CAMBRICON TECHNOLOGIES CORP. LTD. 10.8 %
MONTAGE TECHNOLOGY CO., LTD. CLASS 8.8 %
HYGON INFORMATION TECHNOLOGY CO., 8.5 %
ADVANCED MICRO-FABRICATION EQUIPME 7.7 %
YUANJIE SEMICONDUCTOR TECHNOLOGY C 5.5 %
PIOTECH, INC. CLASS A 4.8 %
BIWIN STORAGE TECHNOLOGY CO LTD CL 4.8 %
VERISILICON MICROELECTRONICS (SHAN 3.8 %
HUA HONG GRACE SEMICONDUCTOR LTD O 3.6 %
HWATSING TECHNOLOGY CO. LTD. CLASS 3.0 %
Total 61.3 %

TOP COUNTRY EXPOSURE
CHINA 68.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
26.5% 64.5% -2.9% -- -0.9%

Market Correlations
versus... Beta R-squared
S&P500 1.51 19%
MSCI EAFE 1.31 22%
MSCI Emg. Mkts. 1.05 34%

Technical Indicators
Recent close $23.67
30d moving avg. $27.55
Annualized volatility 33.6%
Short interest (ETF) 5.4%
Relative strength (RSI) 45

Liquidity measures
Avg. volume (thou.) 975
Turnover 11.1%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $3,471

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 75 potential alternatives to the KraneShares SSE STAR Market 50 Index ETF ETF based on the alternatives' overlap in portfolio holdings with KSTR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: KSTR Expense: 89 bp ALTAR Score™: 0.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH KSTR
Ticker Fund
Name		 Overlap1
vs KSTR
(%)		 Expense
ratio
(bp)		 Savings
vs KSTR
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs KSTR
(%)
CQQQ Invesco China Technology ETF 11.4 70 19 15.5 +14.8
KBA KraneShares Bosera MSCI China A 50 Connect Index ETF 10.2 55 34 6.4 +5.6
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF 7.3 65 24 6.3 +5.6
TCHI iShares MSCI China Multisector Tech ETF 7.0 59 30 14.4 +13.7
CXSE WisdomTree China ex-State-Owned Enterprises Fund 4.2 32 57 14.1 +13.3
MCH Matthews China Active ETF 4.1 79 10 14.8 +14.1
JCHI JPMorgan Active China ETF 4.1 65 24 15.1 +14.4
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF 3.8 65 24 4.7 +4.0
MINV Matthews Asia Innovators Active ETF 2.3 79 10 5.5 +4.8
AIVC Amplify Bloomberg AI Value Chain ETF 2.1 59 30 3.4 +2.7
AIS VistaShares Artificial Intelligence Supercycle ETF 1.9 75 14 1.0 +0.3
KURE KraneShares MSCI All China Health Care Index ETF 1.9 65 24 2.7 +2.0
KGRN KraneShares MSCI China Clean Technology Index ETF 1.5 79 10 3.6 +2.9
FLCH Franklin FTSE China ETF 1.5 19 70 17.8 +17.1
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.3 75 14 1.8 +1.1
BOTZ Global X Robotics & Artificial Intelligence ETF 1.2 69 20 1.9 +1.2
JADE JPMorgan Active Developing Markets Equity ETF 1.1 65 24 5.9 +5.2
ETEC iShares Breakthrough Environmental Solutions ETF 0.9 47 42 3.0 +2.3
JIG JPMorgan International Growth ETF 0.8 55 34 3.6 +2.9
CNYA iShares MSCI China A ETF 0.8 60 29 6.5 +5.8
ICLN iShares Global Clean Energy ETF 0.8 41 48 2.0 +1.3
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 56 6.7 +6.0
MEM Matthews Emerging Markets Equity Active ETF 0.7 79 10 8.4 +7.7
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.7 32 57 7.5 +6.7
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 74 8.8 +8.1
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.4 25 64 6.0 +5.3
GGME Invesco Next Gen Media and Gaming ETF 0.4 60 29 4.4 +3.7
FLAX Franklin FTSE Asia Ex Japan ETF 0.3 19 70 7.1 +6.4
ECON Columbia Emerging Markets Consumer ETF 0.3 49 40 6.6 +5.9
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 40 4.5 +3.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 53 7.5 +6.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.3 15 74 8.0 +7.2
OBOR KraneShares MSCI One Belt One Road Index ETF 0.3 79 10 7.3 +6.6
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.3 88 1 8.4 +7.7
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.2 66 23 7.3 +6.6
VWO Vanguard FTSE Emerging Markets ETF 0.2 7 82 9.0 +8.3
GXC SPDR S & P China ETF 0.2 59 30 18.7 +17.9
BKEM BNY Mellon Emerging Markets Equity ETF 0.2 11 78 24.0 +23.3
IGPT Invesco AI and Next Gen Software ETF 0.2 60 29 2.4 +1.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.2 59 30 8.5 +7.8
ERTH Invesco MSCI Sustainable Future ETF 0.2 62 27 3.2 +2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.2 41 48 6.9 +6.1
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.2 42 47 4.0 +3.2
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.2 45 44 8.0 +7.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.1 30 59 7.5 +6.7
MCHI iShares MSCI China ETF 0.1 59 30 20.0 +19.2
DFAE Dimensional Emerging Core Equity Market ETF 0.1 35 54 7.0 +6.2
JHEM John Hancock Multifactor Emerging Markets ETF 0.1 49 40 7.5 +6.8
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 64 8.9 +8.2
BKF iShares MSCI BIC ETF 0.1 69 20 14.4 +13.6
VSGX Vanguard ESG International Stock ETF 0.1 10 79 6.4 +5.7
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 40 7.5 +6.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 71 6.2 +5.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 4 85 6.5 +5.8
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.1 38 51 7.0 +6.3
VXUS Vanguard Total International Stock ETF 0.1 5 84 6.5 +5.8
SCHE Schwab Emerging Markets Equity ETF 0.1 11 78 9.3 +8.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 48 5.8 +5.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.0 30 59 7.9 +7.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.0 70 19 6.9 +6.2
EMXF iShares ESG Advanced MSCI EM ETF 0.0 16 73 6.6 +5.8
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.0 69 20 7.6 +6.8
EEM iShares MSCI Emerging Markets ETF 0.0 69 20 7.8 +7.1
SPEM SPDR Portfolio Emerging Markets ETF 0.0 7 82 9.4 +8.6
IEMG iShares Core MSCI Emerging Markets ETF 0.0 9 80 8.2 +7.5
DFEV Dimensional Emerging Markets Value ETF 0.0 43 46 9.4 +8.7
VT Vanguard Total World Stock ETF 0.0 6 83 4.9 +4.2
XT iShares Exponential Technologies ETF 0.0 46 43 3.9 +3.1
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 0.0 44 45 9.3 +8.5
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 34 55 6.2 +5.5
ACWI iShares MSCI ACWI ETF 0.0 32 57 4.5 +3.8
VYMI Vanguard International High Dividend Yield ETF 0.0 17 72 7.7 +6.9
IXUS iShares Core MSCI Total International Stock ETF 0.0 7 82 6.4 +5.7
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.0 30 59 6.3 +5.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 80 4.7 +4.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 KraneShares SSE STAR Market 50 Index ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.3 %
Divided by: Fwd. P/BV 6.4 x
Less: Expense ratio 89 bp
Equals: ALTAR Score 0.7 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.46 CATEGORY
AVERAGE		 1.52
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.