KraneShares CSI China Internet ETF (KWEB)
Market Price (9/9/2026): $24.95
KraneShares CSI China Internet ETF (KWEB)
Market Price (9/9/2026): $24.95
Key Takeaways
- KWEB has returned -25.5% YTD vs +12.6% for SPY; -35.0% over the past 12 months (SPY +19.1%). details →
- Priced in gold, KWEB has returned -57.8% over the past 3 years, vs -2.9% in dollars. details →
- Over the past month, KWEB has seen net outflows of −$134M (−2.6% of assets). details →
- Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.0 vs 1.0. details →
- KWEB trades 41% below its 52-week high. details →
Asset Allocation with KWEB
Top 20 Holdings for KWEB
Total Weights Top 5: 25.3% | Top 10: 31.2% | Top 20: 31.2%
| Ticker | Holding | ETF Weight |
|---|---|---|
| 0700.HK | Tencent Holdings | 10.11% |
| null | N/A | 1.57% |
| PDD | PDD | 8.06% |
| YMM | Full Truck Alliance | 2.92% |
| BZ | Kanzhun | 2.66% |
| TAL | TAL Education | 2.27% |
| TME | Tencent Music Entertainment | 2.07% |
| VIPS | Vipshop | 1.53% |
Performance for KWEB Top Holdings
| Ticker | Holding | Weight | Mkt Price9/8 | 1D Rtn | 1M Rtn | YTD Rtn | 1Y Rtn | 3Y Rtn | 5Y Rtn | 10Y Rtn |
|---|---|---|---|---|---|---|---|---|---|---|
| KWEB | KraneShares CSI China Internet ETF | 100.00% | 25.36 | -2.6% | -11.5% | -25.5% | -35.0% | -2.9% | -45.5% | -23.4% |
| 0700.HK | Tencent Holdings | 10.11% | ||||||||
| null | N/A | 1.57% | ||||||||
| PDD | PDD | 8.06% | 79.75 | -3.0% | -13.1% | -29.7% | -36.2% | -16.4% | -23.5% | |
| YMM | Full Truck Alliance | 2.92% | 8.43 | -2.5% | -12.5% | -19.8% | -34.4% | 33.2% | -50.3% | |
| BZ | Kanzhun | 2.66% | 16.62 | -1.8% | 0.9% | -18.4% | -30.1% | 15.9% | -56.7% | 35.0% |
| TAL | TAL Education | 2.27% | 11.82 | -4.7% | -4.5% | 8.3% | 13.9% | 64.4% | 118.9% | 13.2% |
| TME | Tencent Music Entertainment | 2.07% | 8.06 | -2.4% | -15.4% | -52.8% | -66.3% | 27.6% | -2.9% | |
| VIPS | Vipshop | 1.53% | 13.03 | -1.3% | -16.9% | -23.3% | -22.0% | -3.2% | -4.0% | 7.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KWEB Return | -49% | -17% | -9% | 12% | 16% | -23% | -62% |
| Peers Return | -1% | -19% | 9% | 9% | 29% | 19% | 46% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| KWEB Win Rate | 33% | 50% | 42% | 42% | 67% | 44% | |
| Peers Win Rate | 67% | 22% | 50% | 65% | 90% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
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 9/8/2026 (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.
Results as of 8312026.How Low Can It Go
| Event | KWEB | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -19.2% | -18.8% |
| % Gain to Breakeven | 23.7% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.0% | -9.5% |
| % Gain to Breakeven | 15.0% | 10.5% |
| Time to Breakeven | 195 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.7% | -6.7% |
| % Gain to Breakeven | 31.1% | 7.1% |
| Time to Breakeven | 351 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.2% | -24.5% |
| % Gain to Breakeven | 96.7% | 32.4% |
| Time to Breakeven | 708 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -23.2% | -33.7% |
| % Gain to Breakeven | 30.3% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.3% | -19.2% |
| % Gain to Breakeven | 27.1% | 23.8% |
| Time to Breakeven | 50 days | 105 days |
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.
| Event | KWEB | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -23.7% | -6.7% |
| % Gain to Breakeven | 31.1% | 7.1% |
| Time to Breakeven | 351 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -49.2% | -24.5% |
| % Gain to Breakeven | 96.7% | 32.4% |
| Time to Breakeven | 708 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -23.2% | -33.7% |
| % Gain to Breakeven | 30.3% | 50.9% |
| Time to Breakeven | 63 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -21.3% | -19.2% |
| % Gain to Breakeven | 27.1% | 23.8% |
| Time to Breakeven | 50 days | 105 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -27.5% | -6.8% |
| % Gain to Breakeven | 38.0% | 7.3% |
| Time to Breakeven | 98 days | 15 days |
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.
Current Dip Buy Opportunities Across ETFs
ETFs currently down 5% or more from trailing 6M peaks.
| Ticker | Name | Dip % | Mkt Price | Price Date | Peak Price | Peak Date | # Days |
|---|---|---|---|---|---|---|---|
| AKRE | Akre Focus ETF | -6.5% | 57.82 | 9082026 | 61.85 | 8302026 | 9 |
| IWP | iShares Russell Mid-Cap Growth ETF | -5.6% | 139.44 | 9082026 | 147.70 | 8172026 | 22 |
| IJK | iShares S&P Mid-Cap 400 Growth ETF | -5.1% | 113.03 | 9082026 | 119.11 | 8172026 | 22 |
| MDYG | State Street SPDR S&P 400 Mid Cap Growth ETF | -5.1% | 107.84 | 9082026 | 113.69 | 8172026 | 22 |
| VBK | Vanguard Small-Cap Growth ETF | -5.0% | 347.90 | 9082026 | 366.24 | 8172026 | 22 |
| IJT | iShares S&P Small-Cap 600 Growth ETF | -5.3% | 169.53 | 9082026 | 179.07 | 8042026 | 35 |
| SLYG | State Street SPDR S&P 600 Small Cap Growth ETF | -5.3% | 113.18 | 9082026 | 119.50 | 8042026 | 35 |
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | -8.6% | 34.09 | 9082026 | 37.30 | 6222026 | 78 |
| EWY | iShares MSCI South Korea ETF | -13.4% | 189.91 | 9082026 | 219.20 | 6212026 | 79 |
| EWZ | iShares MSCI Brazil ETF | -7.5% | 38.61 | 9082026 | 41.73 | 4142026 | 147 |
| FXI | iShares China Large-Cap ETF | -8.5% | 35.00 | 9082026 | 38.26 | 5132026 | 118 |
| KWEB | KraneShares CSI China Internet ETF | -18.2% | 25.36 | 9082026 | 30.99 | 3102026 | 182 |
| MTUM | iShares MSCI USA Momentum Factor ETF | -10.6% | 308.69 | 9082026 | 345.22 | 6222026 | 78 |
| SPHQ | Invesco S&P 500 Quality ETF | -5.6% | 85.06 | 9082026 | 90.10 | 6302026 | 70 |
| SPMO | Invesco S&P 500 Momentum ETF | -6.9% | 150.47 | 9082026 | 161.66 | 6222026 | 78 |
| URA | Global X Uranium ETF | -18.5% | 47.50 | 9082026 | 58.26 | 5062026 | 125 |
| BOTZ | Global X Funds Global X Robotics & Artificial Intelligence ETF | -14.5% | 35.61 | 9082026 | 41.63 | 5132026 | 118 |
| ROBO | ROBO Global Robotics & Automation Index ETF | -11.8% | 79.65 | 9082026 | 90.34 | 6022026 | 98 |
| LIT | Global X Lithium & Battery Tech ETF | -19.5% | 73.79 | 9082026 | 91.62 | 5112026 | 120 |
| ICLN | iShares Global Clean Energy ETF | -22.9% | 18.31 | 9082026 | 23.75 | 6022026 | 98 |
| ARKQ | ARK Autonomous Technology & Robotics ETF | -13.7% | 124.05 | 9082026 | 143.82 | 5282026 | 103 |
| ARKX | ARK Space & Defense Innovation ETF | -13.8% | 32.52 | 9082026 | 37.74 | 5282026 | 103 |
| NASA | Tema Space Innovators ETF | -41.9% | 24.32 | 9082026 | 41.89 | 5272026 | 104 |
| AGIX | KraneShares Artificial Intelligence ETF | -6.1% | 46.37 | 9082026 | 49.40 | 6012026 | 99 |
| DRSK | Aptus Defined Risk ETF | -5.1% | 28.17 | 9082026 | 29.67 | 6012026 | 99 |
| GDE | WisdomTree Efficient Gold Plus Equity Strategy Fund | -6.3% | 66.78 | 9082026 | 71.30 | 8252026 | 14 |
| XLK | State Street Technology Select Sector SPDR ETF | -5.2% | 187.87 | 9082026 | 198.21 | 6022026 | 98 |
| XLI | State Street Industrial Select Sector SPDR ETF | -6.5% | 174.42 | 9082026 | 186.51 | 8162026 | 23 |
| XLC | State Street Communication Services Select Sector SPDR ETF | -6.4% | 111.52 | 9082026 | 119.10 | 4192026 | 142 |
| XLY | State Street Consumer Discretionary Select Sector SPDR ETF | -6.6% | 113.99 | 9082026 | 122.06 | 5282026 | 103 |
| XLU | State Street Utilities Select Sector SPDR ETF | -7.8% | 43.45 | 9082026 | 47.15 | 4092026 | 152 |
| IYJ | iShares U.S. Industrials ETF | -5.9% | 159.88 | 9082026 | 169.86 | 8042026 | 35 |
| SMH | VanEck Semiconductor ETF | -14.2% | 573.73 | 9082026 | 668.91 | 6222026 | 78 |
| SOXX | iShares Semiconductor ETF | -19.3% | 528.40 | 9082026 | 655.01 | 6222026 | 78 |
| ITA | iShares U.S. Aerospace & Defense ETF | -11.7% | 223.53 | 9082026 | 253.22 | 8162026 | 23 |
| IGV | iShares Expanded Tech-Software Sector ETF | -6.9% | 102.66 | 9082026 | 110.32 | 8272026 | 12 |
| IYT | iShares U.S. Transportation ETF | -7.8% | 82.97 | 9082026 | 90.01 | 7162026 | 54 |
| MISL | First Trust Indxx Aerospace & Defense ETF | -11.8% | 43.38 | 9082026 | 49.19 | 5282026 | 103 |
| RING | iShares MSCI Global Gold Miners ETF | -7.3% | 86.40 | 9082026 | 93.17 | 8252026 | 14 |
| SOXQ | Invesco PHLX Semiconductor ETF | -18.7% | 93.60 | 9082026 | 115.11 | 6222026 | 78 |
| TLT | iShares 20+ Year Treasury Bond ETF | -5.3% | 82.20 | 9082026 | 86.78 | 6292026 | 71 |
| EDV | Vanguard World Funds Extended Duration ETF | -7.8% | 60.30 | 9082026 | 65.43 | 6242026 | 76 |
| GSG | iShares GSCI Commodity | -5.8% | 30.01 | 9082026 | 31.85 | 3182026 | 174 |
| GLD | SPDR Gold Trust | -16.4% | 399.72 | 9082026 | 477.86 | 3102026 | 182 |
| IAU | iShares Gold Trust | -14.8% | 83.39 | 9082026 | 97.85 | 3102026 | 182 |
| GLDM | SPDR Gold MiniShares Trust | -16.2% | 86.23 | 9082026 | 102.89 | 3102026 | 182 |
| SGOL | ETFS Physical Swiss Gold Shares | -9.8% | 44.66 | 9082026 | 49.53 | 3102026 | 182 |
| BAR | Direxion Daily Gold Bull 3X Shares | -13.4% | 44.34 | 9082026 | 51.20 | 3102026 | 182 |
| SLV | iShares Silver Trust | -25.3% | 59.82 | 9082026 | 80.09 | 3102026 | 182 |
| PPLT | ETFS Physical Platinum Shares | -17.7% | 16.46 | 9082026 | 20.00 | 3102026 | 182 |
| CPER | United States Copper Index Fund ETV | -7.7% | 33.33 | 9082026 | 36.12 | 3112026 | 181 |
| PALL | ETFS Physical Palladium Shares | -19.0% | 24.43 | 9082026 | 30.16 | 3102026 | 182 |
| UNG | United States Natural Gas Fund LP | -19.8% | 10.46 | 9082026 | 13.04 | 3122026 | 180 |
| BNO | United States Brent Oil Fund LP ETV | -7.1% | 55.85 | 9082026 | 60.13 | 5042026 | 127 |
| SCHH | Schwab U.S. REIT ETF | -5.6% | 23.47 | 9082026 | 24.86 | 7262026 | 44 |
| REET | iShares Global REIT ETF | -5.3% | 27.36 | 9082026 | 28.89 | 7262026 | 44 |
| USRT | iShares Core U.S. REIT ETF | -6.4% | 65.33 | 9082026 | 69.82 | 7262026 | 44 |
ETF Fund Flows
Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.
Asset allocation rotation · Past month
- Equity ETFs drew the largest net inflows (+$21.8B), followed by Bond (+$18.0B), while Real Estate (−$384M) saw the largest outflows.
- Within the mix, money rotated into Short Treasury (+$9.2B) and out of Broad Sector (−$6.3B).
- Relative to fund size, CNEQ drew the largest inflow (+82.2% of AUM) and SNXX the largest outflow (−40.3%).
| # | Ticker | Name | Net flow | % of AUM |
|---|---|---|---|---|
| 1 | VOO | Vanguard S&P 500 ETF | +$37.8B | +3.6% |
| 2 | VTI | Vanguard Morningstar Total Stock Market ETF | +$7.1B | +1.0% |
| 3 | SGOV | iShares 0-3 Month Treasury Bond ETF | +$6.45B | +6.1% |
| 4 | VGSH | Vanguard Short-Term Treasury ETF | +$4.7B | +15.2% |
| 5 | GLD | SPDR Gold Shares | +$4.67B | +3.1% |
| 6 | SCHD | Schwab U.S. Dividend Equity ETF | +$3.67B | +3.3% |
| 7 | AVLV | Avantis U.S. Large Cap Value ETF | +$3.36B | +15.6% |
| 8 | IBIT | iShares Bitcoin Trust ETF | +$2.79B | +4.6% |
| 9 | RSP | Invesco S&P 500 Equal Weight ETF | +$2.78B | +2.8% |
| 10 | VXUS | Vanguard Total International Stock ETF | +$2.71B | +1.6% |
| # | Ticker | Name | Net flow | % of AUM |
|---|---|---|---|---|
| 1 | IVV | iShares Core S&P 500 ETF | -$41.27B | -4.7% |
| 2 | QQQ | Invesco QQQ Trust, Series 1 | -$4.38B | -0.9% |
| 3 | XLF | State Street Financial Select Sector SPDR ETF | -$3.77B | -6.8% |
| 4 | LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | -$2.79B | -8.5% |
| 5 | VGIT | Vanguard Intermediate-Term Treasury ETF | -$2.6B | -6.1% |
| 6 | HYG | iShares iBoxx $ High Yield Corporate Bond ETF | -$2.41B | -14.6% |
| 7 | DRAM | Roundhill Memory ETF | -$1.99B | -7.6% |
| 8 | GOVT | iShares U.S. Treasury Bond ETF | -$1.86B | -4.2% |
| 9 | SPYM | State Street SPDR Portfolio S&P 500 ETF | -$1.79B | -1.0% |
| 10 | IWM | iShares Russell 2000 ETF | -$1.01B | -1.2% |
Largest ETF fund flows across ~2634 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.
About KWEB
| Holdings Count: 30Expense Ratio: 0.69%Inception Date: 2013-07-31 | KraneShares CSI China Internet ETFThis fund commits at least 80% of its net assets to investments directly replicating its benchmark index, or to securities that possess similar economic attributes. The underlying index is designed to gauge the stock market returns of publicly traded companies based in China whose principal activities are in the internet and related industries. Notably, these companies are listed on exchanges outside of mainland China, a classification determined by the index's creator. The fund itself is designated as non-diversified.Asset Class: Equity | ETF Website |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is This KWEB Plunge A Bargain Or A Trap? | 07/24/2026 | |
| KWEB's History Has A Warning For Dip Buyers | 06/23/2026 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Profile
| Median | |
|---|---|
| Name | |
| Asset Class | - |
| AUM ($ Bil) | 24.8 |
| Expense Ratio | 0.08% |
| 10-D Avg Volume (Mil) | 9.91 |
| Latest Day Volume (Mil) | 1.88 |
| Holdings Count | 2,542 |
| Inception Date | - |
Fundamentals
| Median | |
|---|---|
| Name | |
| Net Asset Value | - |
| Premium/Discount | 0.4% |
| Distribution Yield | 2.3% |
| Sales Yield | 62.9% |
| Earnings Yield | 4.7% |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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