KEMX
KraneShares MSCI Emerging Markets EX China Index ETF
KEMX is benchmarked to the MSCI Emerging Markets ex China Index, which tracks large-cap and mid-cap companies within emerging market countries, excluding China.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
73.6 M
ASSETS UNDER MGMT
24 bp
EXPENSES
Fund Basics
| Fund sponsor | KraneShares |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 12, 2019 |
| Assets (mns) | $74 |
| Expense ratio | 24 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 13.0 % |
| SAMSUNG ELECTRONICS CO LTD | 5.9 % |
| RELIANCE INDS-SPONS GDR 144A | 5.1 % |
| HYNIX SEMICONDUCTOR INC | 4.0 % |
| NASPERS LTD CLASS N | 1.4 % |
| HDFC BANK LIMITED | 1.3 % |
| ICICI BANK LTD | 1.3 % |
| INFOSYS TECHNOLOGIES-SP ADR | 1.3 % |
| MEDIATEK INC | 1.2 % |
| HON HAI PRECISION INDUSTRY | 1.2 % |
Constituent Breakdown
| Number of holdings | 301 |
| Herfindahl-Hirschman Index | 357 |
| Wgt avg mkt cap (mns) | $262,198 |
| Large cap (>$10bn) | 93.9% |
| Mid cap ($2-10bn) | 13.6% |
| Small cap (<$2bn) | 0.1% |
| Developed mkts. | 0.9% |
| Emerging mkts. | 110.0% |
Country Exposure
 |
TAIWAN | 26.0 % |
 |
INDIA | 24.2 % |
 |
SOUTH KOREA | 20.7 % |
 |
BRAZIL | 5.9 % |
 |
SOUTH AFRICA | 3.4 % |
 |
MEXICO | 3.1 % |
 |
MALAYSIA | 2.2 % |
 |
POLAND | 2.1 % |
 |
INDONESIA | 1.9 % |
 |
UAE | 1.7 % |
Historical Performance
Standardized Performance (as of 12/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 33.8% | 33.8% | 14.0% | 15.4% | 4.7% | -- | -- | 5.8% |
| Dividend Yield | 4.3% | 4.3% | 3.7% | 3.3% | 3.6% | -- | -- | 3.4% |
| Total Returns | 38.1% | 38.1% | 17.7% | 18.7% | 8.3% | -- | -- | 9.3% | Ann. Volatility | 17.4% | 17.4% | 16.2% | 15.5% | 16.9% | -- | -- | 20.1% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.69 | 60% |
| MSCI EAFE | 0.84 | 63% |
| MSCI Emg Mkts | 0.92 | 86% |
Liquidity Measures
| Avg. volume (000) | 7 |
| ADV traded (mns) | $0 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.30% |
Technical Indicators
| 30d moving avg. (EMA) | $36.89 |
| Relative strength (RSI) | 68 |
| MACD/Signal | 0.82/0.63 |
| Bollinger Bands (Upper/Lower) | $39.29/$34.74 |
| Short interest (% of AUM) | 2.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. KEMX |
Expenses vs. KEMX |
ALTAR Score™ vs. KEMX |
|---|---|---|---|---|
| STXE | Strive Emerging Markets Ex-China ETF | 63.6% | +8 bp | +7.0% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 63.3% | +1 bp | +6.6% |
| XCEM | Columbia EM Core ex-China ETF | 59.5% | -8 bp | +6.6% |
| DGRE | WisdomTree Emerging Markets Quality Dividend Growth Fund | 51.3% | +8 bp | +6.1% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 50.8% | +42 bp | +8.7% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 50.8% | +25 bp | +9.0% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 50.7% | -9 bp | +9.4% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 49.9% | +6 bp | +9.5% |
| EEM | iShares MSCI Emerging Markets ETF | 48.9% | +45 bp | +9.2% |
| XCNY | SPDR S&P Emerging Markets ex-China ETF | 48.6% | -9 bp | +6.7% |
Risk and Returns: KEMX vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 1/11/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
KEMX
6.6%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 136 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
2.5%. KEMX's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places KEMX in the 32nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
KEMXSELL
U/W
HOLD
O/W
BUY