ETF Evaluator:
KraneShares Photonic and Optical ETF (LUMA)
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Best Performing in Technology Over the Last Year
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ETF Details
KraneShares Photonic and Optical ETF Overview
KraneShares Photonic and Optical ETF (LUMA) is an actively managed Sector Equity Technology exchange-traded fund (ETF). KraneShares launched the ETF in 2026.
The investment seeks growth of capital.
Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in the equity securities of Photonic and Optical Companies or instruments that have economic characteristics similar to the equity securities of Photonic and Optical Companies. It is non-diversified.
About KraneShares Photonic and Optical ETF (LUMA)
There are 3 members of the management team with an average tenure of 0.04 years: James Maund (2026), Derek Yan (2026) and Jonathan Shelon (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
KraneShares Photonic and Optical ETF has 28 securities in its portfolio. The top 10 holdings constitute 54.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
KraneShares Photonic and Optical ETF is part of the Equity global asset class and is within the Sector Equity ETF group. KraneShares Photonic and Optical ETF has 52.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 46.2% There is 52.3% 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 Photonic and Optical ETF has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $3 billion average for the Technology 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.
LUMA 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 Photonic and Optical ETF expense ratio is high compared to funds in the Technology category. KraneShares Photonic and Optical ETF has an expense ratio of 1.00%, which is 86% higher than its category average, making the fund expense ratio grade a F. 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 Photonic and Optical ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 39% for the Technology category.
Recently, in the month of July 2026, KraneShares Photonic and Optical ETF returned 0.0%, which earned it a grade of NA, as the Technology category had an average return of -9.8%. 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 Photonic and Optical ETF has a trailing yield of 0.00%, which is below the 0.45% category average.
The fund normally distributes its income annually and its capital gains 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.
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LUMA Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LUMA Return (NAV) | na | na | na | na | na | na |
| LUMA Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Technology Avg | -9.8% | 7.3% | 33.6% | 22.3% | 10.5% | 19.0% |
| LUMA Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| LUMA Tax-Cost Ratio | na | na | na | na | na | na |
LUMA Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LUMA Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| LUMA Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Technology Avg | 21.3% | 23.2% | 19.9% | 43.8% | -35.8% | 16.7% | 53.3% | 37.8% | -3.2% | 33.7% | 15.0% |
| LUMA Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | na |
| Expense Ratio: | 1.00% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.0 years | |||
| Average Tenure: 0.0 years | |||
| Managers (Year): Maund James (2026), Yan Derek (2026), Shelon Jonathan (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 28 |
| % in Top 10 Holdings: | 54.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 52.3% |
Portfolio Allocation |
|
| Domestic Stock: | 46.2% |
| Foreign Stock: | 52.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | KraneShares |
| Phone Number: | 855-857-2638 |
| Website: | http://www.kraneshares.com |
| Inception Date: | July 15, 2026 |
Expenses and Fees
| Expense Ratio (%): | 1.00% (Rating: High) |
| Category Average Expense Ratio (%): | 0.54% |
