ETF Evaluator:
KraneShares Asia Pacific Hi Inc USD ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Emerging Markets Bond Over the Last Year
| 12.8% | Virtus Stone Harbor Emr Mkt Hi Yld BdETF (VEMY) |
| 11.5% | VanEck Emerging Markets Bond ETF (EMBX) |
| 11.3% | Neuberger Em Mkts Debt Hard Ccy ETF (NEMD) |
| 9.5% | iShares J.P. Morgan EM High Yld Bd ETF (EMHY) |
| 9.4% | Simplify Gamma Emerging Market Bond ETF (GAEM) |
Risk
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Risk
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ETF Details
KraneShares Asia Pacific Hi Inc USD ETF Overview
KraneShares Asia Pacific Hi Inc USD ETF (KHYB) is an actively managed Taxable Bond Emerging Markets Bond exchange-traded fund (ETF). KraneShares launched the ETF in 2018.
The investment seeks to provide a total return that, before fees and expenses, exceeds that of the JP Morgan Asia Credit Index (JACI) Non-Investment Grade Corporate Index (the “underlying index”) over a complete market cycle.
Under normal circumstances, the fund seeks to achieve its objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in fixed income securities of issuers located in the Asia-Pacific region and other instruments that have economic characteristics similar to such securities. The fund is non-diversified.
About KraneShares Asia Pacific Hi Inc USD ETF (KHYB)
There are 2 members of the management team with an average tenure of 3.71 years: Wai Hoong Leong (2021) and Jian Loh (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: JPM Asia Credit TR USD index with a weighting of 100% and JPM ACI Non Investment Grade TR USD index with a weighting of 100%. KraneShares Asia Pacific Hi Inc USD ETF has 76 securities in its portfolio. The top 10 holdings constitute 19.7% 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 Asia Pacific Hi Inc USD ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. KraneShares Asia Pacific Hi Inc USD ETF has 93.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 93.4% (0.0% domestic bond, 93.4% foreign bond and 3.6% convertible bond). KraneShares Asia Pacific Hi Inc USD ETF has 2.9% of the portfolio in cash.
Assets Under Management
The fund has $15 million in total assets, which is below the $1 billion average for the Emerging Markets Bond 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.
KHYB 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 Asia Pacific Hi Inc USD ETF expense ratio is above average compared to funds in the Emerging Markets Bond category. KraneShares Asia Pacific Hi Inc USD ETF has an expense ratio of 0.69%, which is 50% 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 Asia Pacific Hi Inc USD ETF has a portfolio turnover rate of 198%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Emerging Markets Bond category.
Recently, in the month of July 2026, KraneShares Asia Pacific Hi Inc USD ETF returned 0.7%, which earned it a grade of A, as the Emerging Markets Bond category had an average return of -1.1%. 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 Asia Pacific Hi Inc USD ETF has a trailing yield of 8.38%, which is above the 6.13% category average.
The fund normally distributes its income monthly 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.
KraneShares Asia Pacific Hi Inc USD ETF Grades
Year to date, the ETF has returned 3.5%, 1.5 percentage points better than the category, which translates into a grade of A. The fund has returned 8.1% over the past year (grade of B), 9.2% over the past three years (grade of B) and 1.0% per year over the past five years (grade of F).
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KHYB 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 |
|
| KHYB Return (NAV) | 0.7% | 2.1% | 8.1% | 9.2% | 1.0% | na |
| KHYB Return (Price) | 0.7% | 2.2% | 8.3% | 9.2% | 0.9% | na |
| NAV +/- Price Return | -0.041% | -0.041% | -0.194% | 0.079% | 0.110% | na |
| Emerging Markets Bond Avg | -1.1% | 0.6% | 8.0% | 8.7% | 2.3% | 3.6% |
| KHYB Grade (NAV) | A | A | B | B | F | na |
| +/- Category (NAV) | 1.8% | 1.6% | 0.1% | 0.5% | -1.3% | na |
| KHYB Tax-Cost Ratio | na | na | 3.3% | 4.4% | 4.0% | na |
KHYB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KHYB Return (NAV) | 3.5% | 9.8% | 10.5% | 3.7% | -9.4% | -12.8% | 4.1% | 9.2% | na | na | na |
| KHYB Return (Price) | 3.6% | 9.6% | 10.8% | 3.5% | -10.1% | -12.3% | 4.1% | 8.9% | na | na | na |
| NAV +/- Price Ret | 0.032% | -0.025% | 0.024% | -0.058% | 0.084% | -0.040% | 0.012% | -2.6% | na | na | na |
| Emerging Markets Bond Avg | 2.0% | 13.0% | 6.8% | 10.3% | -14.2% | -3.3% | 5.9% | 13.9% | -4.6% | 9.8% | 10.7% |
| KHYB Grade (NAV) | A | F | A | F | A | F | F | F | na | na | na |
| +/- Category | 1.5% | -3.2% | 3.7% | -6.6% | 4.8% | -9.5% | -1.8% | -4.7% | na | na | na |
| Risk Measures | |
| Beta: | 0.43 |
| R-Squared: | 26% |
| Standard Deviation: | 4.8% |
| Category Risk Index: | 0.77 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.39 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 8.4% |
| Total Assets: | $ 16 Mil |
| Share Class Assets: | $ 16 Mil |
| Turnover: | 198.0% |
| Expense Ratio: | 0.69% |
| Index Fund: | No |
| Index Tracked: | JPM Asia Credit TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 5.0 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Leong Wai Hoong (2021), Loh Jian (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 76 |
| % in Top 10 Holdings: | 19.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 93.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 93.4% |
| Convertible Bond: | 3.6% |
| Other: | 0.0% |
| Cash: | 2.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | KraneShares |
| Phone Number: | 855-857-2638 |
| Website: | http://www.kraneshares.com |
| Inception Date: | June 26, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.69% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.46% |
