KraneShares CSI China Internet ETF (KWEB)


Market Price (8/20/2026): $26.665

KraneShares CSI China Internet ETF (KWEB)


Market Price (8/20/2026): $26.665

Key Takeaways

  • KWEB has returned -20.1% YTD vs +13.1% for SPY; -26.7% over the past 12 months (SPY +21.2%). details →
  • Priced in gold, KWEB has returned -54.2% over the past 3 years, vs +6.6% in dollars — its dollar gains have lagged gold. details →
  • KWEB has seen negligible net fund flows over the past month (+0.0% of assets). details →
  • Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.0 vs 0.9. details →
  • KWEB trades 37% below its 52-week high. details →
Last updated: 8/19/2026.

Price Chart

Asset Allocation with KWEB

Risk Tolerance:
ConservativeModerateAggressive
Moderate — 55% equity / 25% bonds / 20% alternatives
10Y Return (ann.)
+4.4%
Volatility
20.5%
Sharpe
0.17
YTD
-9.0%
Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

Learn More →
Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance
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Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Top 20 Holdings for KWEB

Total Weights
Top 5: 27.1% | Top 10: 36.1% | Top 20: 36.1%

TickerHoldingETF Weight
0700.HKTencent Holdings9.71%
nullN/A1.43%
PDDPDD8.27%
YMMFull Truck Alliance4.07%
BZKanzhun3.59%
TALTAL Education3.38%
TMETencent Music Entertainment3.22%
VIPSVipshop2.38%

Performance for KWEB Top Holdings

TickerHoldingWeightMkt Price
8/19
1D Rtn1M RtnYTD Rtn1Y Rtn3Y Rtn5Y Rtn10Y Rtn
KWEBKraneShares CSI China Internet ETF100.00%27.221.6%-0.8%-20.1%-26.7%6.6%-30.3%-16.4%
0700.HKTencent Holdings9.71%        
nullN/A1.43%        
PDDPDD8.27%90.203.4%4.8%-20.5%-24.2%17.2%16.7% 
YMMFull Truck Alliance4.07%8.70-1.1%-5.9%-17.3%-18.2%49.3%-27.5% 
BZKanzhun3.59%16.081.8%3.1%-21.1%-23.1%11.3%-49.5%30.6%
TALTAL Education3.38%12.120.7%17.6%11.1%10.3%81.7%136.3%14.2%
TMETencent Music Entertainment3.22%9.022.6%-1.6%-47.2%-63.4%44.9%26.9% 
VIPSVipshop2.38%14.451.7%-1.0%-14.9%-9.3%7.3%21.1%0.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
KWEB Return-49%-17%-9%12%16%-21%-61%
Peers Return-1%-19%9%9%29%14%41%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
KWEB Win Rate33%50%42%42%67%38% 
Peers Win Rate67%22%50%65%90%62% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
KWEB Max Drawdown-65%-53%-31%-23%-26%-37% 
Peers Max Drawdown-15%-31%-12%-9%-15%-12% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: IEMG, VWO, EEM, SPEM, SCHE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/19/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker1Y3Y5Y
KWEB-0.75-0.01-0.04
Equity Top Results (3Y)   
IALT2.112.112.11
SPMO0.891.380.82
VLUE2.491.260.69
CORO1.331.251.25
CGDV1.351.230.94

Results as of 7312026.

How Low Can It Go

EventKWEBS&P 500
2025 US Tariff Shock
  % Loss-19.2%-18.8%
  % Gain to Breakeven23.7%23.1%
  Time to Breakeven36 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-13.0%-9.5%
  % Gain to Breakeven15.0%10.5%
  Time to Breakeven195 days24 days
2023 SVB Regional Banking Crisis
  % Loss-23.7%-6.7%
  % Gain to Breakeven31.1%7.1%
  Time to Breakeven351 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-49.2%-24.5%
  % Gain to Breakeven96.7%32.4%
  Time to Breakeven708 days427 days
2020 COVID-19 Crash
  % Loss-23.2%-33.7%
  % Gain to Breakeven30.3%50.9%
  Time to Breakeven63 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.3%-19.2%
  % Gain to Breakeven27.1%23.8%
  Time to Breakeven50 days105 days

Compare to IEMG, VWO, EEM, SPEM, SCHE

In The Past

KraneShares CSI China Internet ETF's stock fell -19.2% during the 2025 US Tariff Shock. Such a loss loss requires a 23.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventKWEBS&P 500
2023 SVB Regional Banking Crisis
  % Loss-23.7%-6.7%
  % Gain to Breakeven31.1%7.1%
  Time to Breakeven351 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-49.2%-24.5%
  % Gain to Breakeven96.7%32.4%
  Time to Breakeven708 days427 days
2020 COVID-19 Crash
  % Loss-23.2%-33.7%
  % Gain to Breakeven30.3%50.9%
  Time to Breakeven63 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-21.3%-19.2%
  % Gain to Breakeven27.1%23.8%
  Time to Breakeven50 days105 days
2014-2016 Oil Price Collapse
  % Loss-27.5%-6.8%
  % Gain to Breakeven38.0%7.3%
  Time to Breakeven98 days15 days

Compare to IEMG, VWO, EEM, SPEM, SCHE

In The Past

KraneShares CSI China Internet ETF's stock fell -19.2% during the 2025 US Tariff Shock. Such a loss loss requires a 23.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

KWEB Dip Buy History


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Alerts when dip buy opportunities arise.
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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

TickerNameDip %Mkt PricePrice DatePeak PricePeak Date# Days
IEMGiShares Core MSCI Emerging Markets ETF-6.3%80.57819202686.00622202658
EEMiShares MSCI Emerging Markets ETF-7.2%66.11819202671.21622202658
ASHRXtrackers Harvest CSI 300 China A-Shares ETF-8.1%34.27819202637.30622202658
EWYiShares MSCI South Korea ETF-20.4%174.438192026219.20621202659
EWZiShares MSCI Brazil ETF-17.9%34.26819202641.734142026127
FXIiShares China Large-Cap ETF-8.1%35.68819202638.812222026178
ILFiShares Latin America 40 ETF-11.6%33.67819202638.104142026127
KWEBKraneShares CSI China Internet ETF-17.2%27.22819202632.892182026182
MTUMiShares MSCI USA Momentum Factor ETF-11.4%305.888192026345.22622202658
SPMOInvesco S&P 500 Momentum ETF-8.2%148.358192026161.66622202658
URAGlobal X Uranium ETF-22.7%45.01819202658.265062026105
BOTZGlobal X Funds Global X Robotics & Artificial Intelligence ETF-12.6%36.38819202641.63513202698
ROBOROBO Global Robotics & Automation Index ETF-9.5%81.72819202690.34602202678
LITGlobal X Lithium & Battery Tech ETF-18.6%74.57819202691.625112026100
ICLNiShares Global Clean Energy ETF-24.9%17.83819202623.75602202678
ARKQARK Autonomous Technology & Robotics ETF-12.4%126.018192026143.82528202683
ARKXARK Space & Defense Innovation ETF-10.9%33.64819202637.74528202683
NASATema Space Innovators ETF-40.3%24.99819202641.89527202684
XOVREntrepreneurShares Series Trust ERShares Private-Public Crossover ETF-5.2%20.23819202621.34706202644
AGIXKraneShares Artificial Intelligence ETF-9.9%44.53819202649.40601202679
VGTVanguard Information Technology ETF-5.4%118.808192026125.62602202678
XLKState Street Technology Select Sector SPDR ETF-7.4%183.648192026198.21602202678
XLCState Street Communication Services Select Sector SPDR ETF-6.5%111.328192026119.104192026122
XLUState Street Utilities Select Sector SPDR ETF-7.1%44.02819202647.403012026171
SMHVanEck Semiconductor ETF-16.1%560.928192026668.91622202658
SOXXiShares Semiconductor ETF-20.7%519.678192026655.01622202658
MISLFirst Trust Indxx Aerospace & Defense ETF-7.6%46.79819202650.663022026170
RINGiShares MSCI Global Gold Miners ETF-14.4%85.10819202699.423012026171
SOXQInvesco PHLX Semiconductor ETF-19.7%92.398192026115.11622202658
TLTiShares 20+ Year Treasury Bond ETF-6.9%83.02819202689.153012026171
VGLTVanguard Long-Term Treasury ETF-5.7%53.31819202656.533012026171
SPTLState Street SPDR Portfolio Long Term Treasury ETF-6.1%25.36819202626.993012026171
TLHiShares 10-20 Year Treasury Bond ETF-5.3%97.638192026103.083012026171
EDVVanguard World Funds Extended Duration ETF-10.1%60.59819202667.423012026171
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF-5.7%34.45819202636.53519202692
GSGiShares GSCI Commodity-5.8%30.01819202631.853182026154
GLDSPDR Gold Trust-15.5%413.848192026490.003022026170
IAUiShares Gold Trust-15.5%84.848192026100.383022026170
GLDMSPDR Gold MiniShares Trust-15.4%89.298192026105.543022026170
SGOLETFS Physical Swiss Gold Shares-12.1%44.66819202650.813022026170
BARDirexion Daily Gold Bull 3X Shares-15.6%44.34819202652.533022026170
SLViShares Silver Trust-29.4%60.01819202684.993012026171
SIVRETFS Physical Silver Shares Trust ETF-6.6%83.39819202689.263012026171
PPLTETFS Physical Platinum Shares-23.3%16.46819202621.473012026171
CPERUnited States Copper Index Fund ETV-9.6%33.33819202636.883012026171
PALLETFS Physical Palladium Shares-25.5%24.23819202632.542242026176
USOUnited States Oil Fund LP-14.4%130.918192026152.96519202692
UNGUnited States Natural Gas Fund LP-23.2%10.01819202613.043122026160
BNOUnited States Brent Oil Fund LP ETV-7.1%55.85819202660.135042026107
IBITiShares Bitcoin Trust ETF-16.5%38.78819202646.475112026100
FBTCFidelity Wise Origin Bitcoin Fund-16.5%59.60819202671.355112026100
ETHAiShares Ethereum Trust ETF-13.6%15.88819202618.384192026122

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-08-19

Asset allocation rotation · Past month

  • Equity ETFs drew the largest net inflows (+$67.3B), followed by Bond (+$17.3B), with every major asset class in net inflows.
  • Within the mix, money rotated into US Large Cap Core (+$23.8B) and out of Industry Subsector (−$5.7B).
  • Relative to fund size, CNEQ drew the largest inflow (+84.8% of AUM) and FTXL the largest outflow (−67.8%).
Largest inflows
#TickerNameTypeNet flow% of AUM
1QQQInvesco QQQ Trust, Series 1Equity US Nasdaq Growth+$15.37B+3.2%
2VOOVanguard S&P 500 ETFEquity US Large Cap Core+$14.85B+1.4%
3SPYState Street SPDR S&P 500 ETFEquity US Large Cap Core+$13.11B+1.6%
4SPYMState Street SPDR Portfolio S&P 500 ETFEquity US Large Cap Core+$5.69B+3.4%
5SGOViShares 0-3 Month Treasury Bond ETFCash+$5.26B+5.2%
6VTIVanguard Morningstar Total Stock Market ETFEquity US Total Market+$5.17B+0.8%
7TLTiShares 20+ Year Treasury Bond ETFBond Long Treasury+$5.11B+12.0%
8GLDSPDR Gold SharesCommodity Gold+$4.88B+3.6%
9SCHDSchwab U.S. Dividend Equity ETFEquity Dividend Income+$4.06B+3.9%
10QQQMInvesco NASDAQ 100 ETFEquity US Nasdaq Growth+$3.94B+3.9%
Largest outflows
#TickerNameTypeNet flow% of AUM
1IVViShares Core S&P 500 ETFEquity US Large Cap Core-$9.79B-1.1%
2IEFiShares 7-10 Year Treasury Bond ETFBond Intermediate Treasury-$4.14B-8.8%
3SOXXiShares Semiconductor ETFEquity Industry Subsector-$3.6B-8.3%
4AIRRFirst Trust RBA American Industrial RenaissanceTM ETFOther-$1.72B-16.2%
5FTCSFirst Trust Capital Strength ETFOther-$1.51B-19.0%
6LQDiShares iBoxx $ Investment Grade Corporate Bond ETFBond Intermediate Corporate-$1.4B-4.2%
7SMHVanEck Semiconductor ETFEquity Industry Subsector-$1.36B-1.9%
8VOVanguard Morningstar Mid-Cap ETFEquity US Mid Cap Core-$1.3B-1.2%
9MTUMiShares MSCI USA Momentum Factor ETFEquity Factor Smart Beta-$1.15B-4.5%
10XLFState Street Financial Select Sector SPDR ETFEquity Broad Sector-$1.05B-1.8%

Largest ETF fund flows across ~2622 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About KWEB

0Holdings Count: 30
Expense Ratio: 0.69%
Inception Date: 2013-07-31
KraneShares CSI China Internet ETF
This fund commits at least 80% of its net assets to investments directly replicating its benchmark index, or to securities that possess similar economic attributes. The underlying index is designed to gauge the stock market returns of publicly traded companies based in China whose principal activities are in the internet and related industries. Notably, these companies are listed on exchanges outside of mainland China, a classification determined by the index's creator. The fund itself is designated as non-diversified.
Asset Class: Equity | ETF Website

Recent Active Movers

Peer Comparisons

Peers to compare with:

Profile

KWEBIEMGVWOEEMSPEMSCHEMedian
NameKraneShare.iShares Co.Vanguard F.iShares MS.State Stre.Schwab Eme. 
Asset ClassEquityEquityEquityEquityEquityEquity-
AUM ($ Bil)5.3160.6162.331.317.612.924.5
Expense Ratio0.69%0.09%0.06%0.72%0.07%0.06%0.08%
10-D Avg Volume (Mil)24.5612.278.0227.322.242.9210.14
Latest Day Volume (Mil)20.859.747.8014.670.922.488.77
Holdings Count302,8615,9421,1972,9792,2222,542
Inception Date7/31/201310/18/20123/4/20054/7/20033/20/20071/14/2010-

Fundamentals

KWEBIEMGVWOEEMSPEMSCHEMedian
NameKraneShare.iShares Co.Vanguard F.iShares MS.State Stre.Schwab Eme. 
Net Asset Value27.0281.9160.2367.3752.2036.84-
Premium/Discount0.7%-1.6%-0.3%-1.9%-0.3%-0.4%-0.4%
Distribution Yield7.7%2.2%2.3%1.7%2.5%2.6%2.4%
Sales Yield-41.3%60.1%41.2%73.4%191.1%60.1%
Earnings Yield-4.7%7.4%4.7%5.2%4.6%4.7%

Valuation

KWEBIEMGVWOEEMSPEMSCHEMedian
NameKraneShare.iShares Co.Vanguard F.iShares MS.State Stre.Schwab Eme. 
P/S (TTM)-2.4x1.7x2.4x1.4x0.5x1.7x
P/E (TTM)-21.5x13.5x21.5x19.1x21.9x21.5x
P/FCF (TTM)-22.9x11.6x22.9x32.0x-22.9x
Forward P/E-------
Forward P/S-------

Risk

KWEBIEMGVWOEEMSPEMSCHEMedian
NameKraneShare.iShares Co.Vanguard F.iShares MS.State Stre.Schwab Eme. 
Volatility (1Y)27.9%23.9%17.6%24.7%17.7%18.0%21.0%
Volatility (3Y)34.1%19.1%16.4%19.8%16.4%16.8%18.0%
Volatility (5Y)46.9%19.3%17.6%20.0%17.3%17.9%18.6%
Beta (1Y)1.091.451.121.481.131.141.13
Beta (3Y)0.890.880.760.900.760.780.83
Beta (5Y)1.080.780.700.800.700.710.75
Sharpe Ratio (1Y)-1.011.251.081.291.041.061.07
Sharpe Ratio (3Y)0.171.101.051.051.071.051.05
Sharpe Ratio (5Y)0.010.480.430.380.450.430.43
Max Drawdown (1Y)-45.0%-13.8%-11.2%-14.2%-11.4%-11.3%-12.6%
Max Drawdown (3Y)-45.0%-17.2%-17.4%-17.3%-17.6%-17.1%-17.3%
Max Drawdown (5Y)-64.0%-33.6%-30.9%-36.5%-30.0%-31.4%-32.5%

Returns

KWEBIEMGVWOEEMSPEMSCHEMedian
NameKraneShare.iShares Co.Vanguard F.iShares MS.State Stre.Schwab Eme. 
1M Return0.7%1.6%2.0%1.2%1.8%1.8%1.7%
3M Return-3.7%2.6%3.9%2.9%3.3%4.6%3.1%
6M Return-17.2%7.3%3.7%8.0%3.2%3.9%3.8%
YTD Return-20.1%19.9%11.8%20.8%11.2%12.0%11.9%
1Y Return-27.4%31.2%19.1%33.5%18.4%19.2%19.1%
2Y Return8.3%59.3%45.1%62.2%44.3%45.5%45.3%
3Y Return-0.2%77.7%61.8%76.1%62.9%63.0%62.9%

Short Interest

Short Interest: As Of Date7312026
Short Interest: Shares Quantity41.5 Mil
Short Interest: % Change Since 7152026-2.6%
Average Daily Volume21.5 Mil
Days-to-Cover Short Interest1.9 days