ETF Evaluator:
KraneShares MSCI China Clean Tech ETF (KGRN)
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(as of Jul 31)
Best Performing in Greater China Region Over the Last Year
| 131.8% | KraneShares SSE STAR Market 50 ETF (KSTR) |
| 116.9% | VanEck ChiNext Innovators ETF (CNXT) |
| 103.9% | Franklin FTSE Taiwan ETF (FLTW) |
| 98.9% | iShares MSCI Taiwan ETF (EWT) |
| 85.9% | Matthews China Innovators Active ETF (MCHS) |
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ETF Details
KraneShares MSCI China Clean Tech ETF Overview
KraneShares MSCI China Clean Tech ETF (KGRN) is a passively managed International Equity Greater China Region exchange-traded fund (ETF). KraneShares launched the ETF in 2017.
The investment seeks to provide investment results that correspond to the price and yield performance of the MSCI China IMI Environment 10/40 Index.
The fund will invest at least 80% of its net assets in instruments in its index or in instruments that have economic characteristics similar to those in the index. The underlying index is a free-float adjusted market capitalization weighted index modified per the 10/40 Constraint designed to measure the equity market performance of Chinese companies in the industrial, utility, real estate and technology sectors that contribute to a more environmentally sustainable economy. It is non-diversified.
About KraneShares MSCI China Clean Tech ETF (KGRN)
There are 2 members of the management team with an average tenure of 7.19 years: James Maund (2020) and Jonathan Shelon (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI China All Shares NR USD index with a weighting of 100% and MSCI CHINA IMI ENVIRONMENT 10-40 NR USD index with a weighting of 100%. KraneShares MSCI China Clean Tech ETF has 54 securities in its portfolio. The top 10 holdings constitute 52.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
KraneShares MSCI China Clean Tech ETF is part of the Equity global asset class and is within the International Equity ETF group. KraneShares MSCI China Clean Tech ETF has 99.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 99.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). KraneShares MSCI China Clean Tech ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $52 million in total assets, which is below the $1 billion average for the Greater China Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
KGRN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The KraneShares MSCI China Clean Tech ETF expense ratio is above average compared to funds in the Greater China Region category. KraneShares MSCI China Clean Tech ETF has an expense ratio of 0.79%, which is 19% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. KraneShares MSCI China Clean Tech ETF has a portfolio turnover rate of 35%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Greater China Region category.
Recently, in the month of June 2026, KraneShares MSCI China Clean Tech ETF returned -13.6%, which earned it a grade of F, as the Greater China Region category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
KraneShares MSCI China Clean Tech ETF has a trailing yield of 0.98%, which is below the 3.30% category average.
The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
KraneShares MSCI China Clean Tech ETF Grades
Year to date, the ETF has returned -13.2%, 19.4 percentage points worse than the category, which translates into a grade of D. The fund has returned -8.8% over the past year (grade of D), -4.2% over the past three years (grade of F) and -12.7% per year over the past five years (grade of D).
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KGRN Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| KGRN Return (NAV) | -13.6% | -16.0% | -8.8% | -4.2% | -12.7% | na |
| KGRN Return (Price) | -13.2% | -17.3% | -8.4% | -4.3% | -12.7% | na |
| NAV +/- Price Return | -0.404% | 1.228% | -0.350% | 0.068% | 0.034% | na |
| Greater China Region Avg | -1.6% | 9.3% | 25.1% | 12.4% | -3.2% | 5.6% |
| KGRN Grade (NAV) | F | F | D | F | D | na |
| +/- Category (NAV) | -12.0% | -25.3% | -33.9% | -16.6% | -9.5% | na |
| KGRN Tax-Cost Ratio | na | na | 0.3% | 0.3% | 0.3% | na |
KGRN Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KGRN Return (NAV) | -13.2% | 19.9% | 0.2% | -14.8% | -39.7% | 5.5% | 136.1% | 11.9% | -29.6% | na | na |
| KGRN Return (Price) | -12.3% | 21.4% | -1.1% | -14.7% | -40.4% | 5.9% | 138.5% | 12.2% | -29.3% | na | na |
| NAV +/- Price Ret | -0.071% | 0.076% | -6.667% | -0.004% | 0.020% | 0.083% | 0.018% | 2.5% | -0.8% | na | na |
| Greater China Region Avg | 6.2% | 30.4% | 11.2% | -10.5% | -25.1% | -7.2% | 42.8% | 26.9% | -22.9% | 45.1% | -6.2% |
| KGRN Grade (NAV) | D | F | F | D | F | B | A | F | F | na | na |
| +/- Category | -19.4% | -10.5% | -11.0% | -4.3% | -14.6% | 12.6% | 93.3% | -15.1% | -6.7% | na | na |
| Risk Measures | |
| Beta: | 0.62 |
| R-Squared: | 8% |
| Standard Deviation: | 30.1% |
| Category Risk Index: | 1.17 |
| Category Risk Rating: | High |
| Total Risk Index: | 2.48 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 1.0% |
| Total Assets: | $ 53 Mil |
| Share Class Assets: | $ 53 Mil |
| Turnover: | 35.0% |
| Expense Ratio: | 0.79% |
| Index Fund: | Yes |
| Index Tracked: | MSCI China All Shares NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 7.9 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Shelon Jonathan (2018), Maund James (2020) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 52.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 99.6% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 99.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | KraneShares |
| Phone Number: | 855-857-2638 |
| Website: | http://www.kraneshares.com |
| Inception Date: | October 12, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.79% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.67% |
