KraneShares

What KraneShares does

KraneShares is a New York-based, privately held asset manager (legal entity: Krane Funds Advisors, LLC) that designs, markets, and operates a specialized line of exchange-traded funds and private funds. Founded in 2013, the firm manages approximately $8.7 billion across 34 ETFs as of June 2026, anchored by the flagship KraneShares CSI China Internet ETF (KWEB, $5.05B AUM) — one of the largest China internet ETFs globally. Product lines span China and emerging markets (KWEB, KBA, KSTR, KPHO, KEMQ, KEMX), AI and emerging technology (AGIX, KOID, KARS, KGRN), income strategies (KLIP, KWIN, KCSH), and alternatives (KRBN, KCCA, KMLM, KSPY, BUYO), plus a suite of leveraged single-stock ETFs and a pre-IPO private fund platform for accredited investors.

Underlying technology consists of proprietary and partnered index methodologies licensed from specialized index providers (MerQube for KOID, Solactive for AGIX, Bosera for KBA, Mount Lucas for KMLM, Value Line for KVLE, Hedgeye for KSPY, Wahed for KWIN), with market data sourced from third parties (Nasdaq, FactSet, Dow Jones, CoinDesk, Kantar Media). The firm distributes exclusively through third-party brokerage platforms (Schwab, Fidelity, Robinhood, E*TRADE, Interactive Brokers) and advisor networks (LPL Financial, Stifel, Merrill Lynch), with cross-listings on LSE, ADX, and HKEX supporting international access.

The business model is asset-based: revenue is generated primarily through ETF management fees, which scale directly with assets under management. Expense ratios range from 0.20% (KCSH net) to 1.27% (KPDD, KBAB), with the largest fund KWEB at 0.70%. Customer segments include financial advisors and RIAs, retail investors, institutional investors (pension funds, endowments), and accredited investors accessing the pre-IPO private funds. The firm is led by founder and CEO Jonathan Krane, with Jonathan Shelon (COO), Brendan Ahern (CIO), Leo Lo (CFO), and a broader leadership team spread across offices in New York, San Francisco, and London.

Name

KraneShares

Legal name

Krane Funds Advisors, LLC

Website

https://kraneshares.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

KraneShares is a privately held New York-based asset manager that designs and operates approximately 34 specialized ETFs and private funds spanning China, AI/robotics, carbon credits, and alternatives, managing roughly $8.7 billion in assets for retail, advisor, and institutional clients.

Ownership category

akta.pro rank

Product category

Exchange-Traded Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Sector & Industry Equity ETFs (FSAAAFAC)

akta.pro secondary industries

Real Assets & Infrastructure ETFs (REITs, Infrastructure, Natural Resources) (FSAAAFAH), DeFi Asset Management & On-Chain Index Protocols (FSADAMAK), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG)

Keywords

• Thematic ETF management
• China internet ETFs
• Carbon credit ETFs
• Humanoid robotics ETFs
• Emerging markets funds

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. ETF Management Fees: KraneShares generates revenue primarily through ETF management fees calculated as an annual percentage of assets under management (AUM). Fee rates vary by fund — the largest ETF KWEB charges 0.70%, KOID charges 0.69% net (0.79% gross), KSTR charges 0.89%, AGIX charges 0.99%, KMLM charges 0.90%, and KRBN charges 0.90%. Revenue scales directly with AUM, which collectively totals approximately $8.7 billion across 34 ETFs.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

KraneShares is a specialized asset manager that designs, issues, and manages thematic exchange-traded funds (ETFs) along with private pre-IPO funds and model portfolios. The firm provides liquid, regulated exposure to high-conviction investment themes including China's internet and technology sector (KWEB), public and pre-IPO AI companies (AGIX), humanoid robotics (KOID), carbon credit markets (KRBN, KCCA), emerging markets, income strategies, and alternative investments. KraneShares manages 34 ETFs with approximately $8.7 billion in total assets under management.

Product overview

KraneShares is a specialized ETF provider offering a diverse portfolio of exchange-traded funds across multiple themes. The core products include KWEB (flagship China internet ETF with $5.05B AUM), AGIX (innovative public-private AI ETF holding Anthropic and SpaceX), KOID (first humanoid robotics and physical AI ETF), KSTR (STAR Market access), and KBA (China A-shares). The suite includes carbon credit ETFs (KRBN, KCCA), managed futures (KMLM), EV and future mobility (KARS), healthcare (KURE), clean technology (KGRN), and leveraged single-stock products. KraneShares also offers private pre-IPO funds for accredited investors and model portfolio advisory services. Sub-advisors include MerQube (KOID), Wahed (KWIN), Dragon Capital (KPHO), and Man Group (BUYO).

Differentiator

Problem solved

Functional benefit

Products and services

• KWEB - KraneShares CSI China Internet ETF Flagship China internet ETF providing exposure to Chinese digital and technology companies including Alibaba, Tencent, and Baidu. Tracks the CSI China Internet Index.
• AGIX - KraneShares Public-Private AI & Technology ETF Innovative ETF providing exposure to both public and pre-IPO AI companies including Anthropic, SpaceX, and xAI. Tracks the Solactive Etna Artificial General Intelligence index with holdings across AI hardware, infrastructure, and applications.
• KOID - KraneShares Global Humanoid Robotics and Physical AI Index ETF First U.S.-listed ETF focused on humanoid robotics and physical AI, tracking the MerQube Global Humanoid and Embodied Intelligence index. Provides exposure to semiconductor brains, actuation and mechanical bodies, and humanoid integrators.
• KSTR - KraneShares SSE STAR Market 50 Index ETF Provides targeted access to China's Science and Technology Innovation Board (STAR Market), focusing on semiconductors, advanced manufacturing, and AI-aligned companies including Unitree, CXMT, and YMTC.
• KBA - KraneShares Bosera MSCI China A 50 Connect Index ETF Offers exposure to 50 large-cap Shanghai and Shenzhen A-shares available through Stock Connect, with top sector shifted from financials to information technology.
• KMLM - KraneShares Mount Lucas Managed Futures Index Strategy ETF Systematic trend-following strategy providing exposure to global macro trends through futures contracts in commodities, currencies, and fixed income.
• KRBN - KraneShares Global Carbon Strategy ETF Provides exposure to global carbon credit markets through futures on major cap-and-trade programs including California, EU, and UK carbon allowances, tracking the IHS Markit Global Carbon Index.
• KCCA - KraneShares California Carbon Allowance Strategy ETF Tracks the S&P Carbon Credit CCA Index providing exposure to California Carbon Allowance futures covering approximately 80% of state GHG emissions.
• KARS - KraneShares Electric Vehicles & Future Mobility Index ETF Provides diversified exposure to China's EV market and future mobility ecosystem including BYD, NIO, Li Auto, Xpeng, and CATL.
• KSPY - KraneShares Hedgeye Hedged Equity Index ETF Tracks Hedgeye Hedged Equity Index providing S&P 500 exposure with downside risk management through options-based strategies utilizing proprietary Risk Range Signals.
• KIQQ - KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF Developed with InspereX, offers Nasdaq-100 exposure with dynamic hedging and income strategies through derivatives including options and swap agreements.
• KWIN - KraneShares Wahed Alternative Income Index ETF Shariah-compliant alternative income ETF launched with Wahed Invest LLC, using options strategy targeting delta-neutral position for faith-aligned investors.
• KLIP - KraneShares KWEB Covered Call Strategy ETF Generates monthly distributions by selling covered call options on KWEB, providing income but capping upside gains during sharp rallies.
• KURE - KraneShares MSCI All China Health Care Index ETF Provides exposure to China's healthcare sector including biotech firms benefiting from outbound cross-border licensing deals.
• KEMX - KraneShares MSCI Emerging Markets ex China Index ETF Provides exposure to emerging markets excluding China, focusing on technology and growth opportunities in Asia and other developing regions.
• KEMQ - KraneShares Emerging Markets Consumer Technology ETF Offers targeted exposure to EM technology and consumer technology companies including SK Hynix, TSMC, and Alibaba.
• KPHO - KraneShares Dragon Capital Growth of Vietnam Index ETF Launched on NYSE with Dragon Capital as sub-advisor, providing exposure to Vietnamese companies in one of the fastest-growing Asia-Pacific economies.
• BUYO - KraneShares Man Buyout Beta Index ETF Liquid private equity-mimicking strategy launched in partnership with Man Group to provide PE-like return drivers while maintaining liquidity.
• KCSH - KraneShares Sustainable Ultra Short Duration Index ETF Sustainable ultra short duration fixed income strategy with net expense ratio of 0.20%.
• KGRN - KraneShares MSCI China Clean Technology Index ETF Provides exposure to Chinese clean energy companies including BYD, NIO, Li Auto, Xpeng, CATL, and Longyuan Power, targeting renewable energy and NEV expansion.
• Leveraged Single-Stock ETFs (KPDD, KBAB, KMLI, KBDU, KJD) Suite of 2X leveraged ETFs providing amplified daily returns for individual stocks including PDD, BABA, MELI, Baidu, and JD.com.
• Private Pre-IPO Funds Accredited investor access to high-growth venture-backed private companies focusing on AI, humanoid robotics, aerospace, and defense. Approved on Schwab and Fidelity platforms.
• Model Portfolios Core, strategic, and thematic model portfolios combining specialized ETFs with deep expertise in international markets and alternative investments.

Quantifiable outcome

• KWEB is one of the largest China ETFs globally with $5.05B in AUM as of June 2026
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Abu Dhabi Securities Exchange (ADX)minorChannel Partner/ Reseller/ Distributor · 17 April 2026KraneShares launched two new ETFs on the Abu Dhabi Securities Exchange (ADX) — KraneShares Artificial Intelligence & Technology ETF (AGIX) and KraneShares Wahed Alternative Income Index ETF (KWIN) — giving retail investors in the Gulf region access to both public and private companies including AI and space technology firms Anthropic and SpaceX. This represents the first US ETFs to cross-list in the GCC region.
• EurexminorChannel Partner/ Reseller/ Distributor · 30 March 2026KraneShares launched options trading on its KWEB UCITS ETF (ticker: KWEB LN) through Eurex, Europe's leading derivatives exchange, as of March 30, 2026. The ETF provides exposure to China's internet sector including AI, e-commerce, online media, cloud computing, and fintech. This launch extends KWEB options availability to European investors following their prior introduction in the U.S. market.
• ICBC UBS InternationalminorChannel Partner/ Reseller/ Distributor · 11 December 2025KraneShares listed the ICBC UBS KraneShares KWEB CSI China Internet ETF on HKEX through partnership with ICBC UBS International in December 2025, providing Hong Kong and international investors exposure to China's digital and technology companies including Alibaba, Tencent, and Baidu.
• Dragon CapitalcoreChannel Partner/ Reseller/ Distributor · 4 December 2025Dragon Capital serves as sub-advisor for the KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO), listed on the NYSE. Dragon Capital provides local research capabilities and Vietnamese market expertise, targeting Vietnam's rapid economic growth and FTSE Russell's reclassification from Frontier to Emerging Market status. Dragon Capital estimates that index upgrades from FTSE Russell and potentially MSCI could drive approximately $25 billion in new inflows into Vietnam's equity market.
• Tether (Hadron Platform)coreStrategic or Co-development Partner · 6 November 2025Tether (Hadron platform), KraneShares, and Bitfinex Securities entered a strategic partnership on November 6, 2025 to accelerate the development and adoption of tokenized securities across global markets. The collaboration leverages Tether's Hadron technology infrastructure, Bitfinex Securities' regulatory and operational capabilities, and KraneShares' ETF expertise. The global tokenized securities market is projected to grow from approximately $30 billion in 2025 to nearly $10 trillion by 2030. The alliance aims to enable cross-border securities trading and leverage El Salvador's digital asset regulatory framework.
• Bitfinex SecuritiescoreStrategic or Co-development Partner · 6 November 2025Bitfinex Securities provides regulatory and operational functions within the Hadron by Tether, KraneShares, and Bitfinex Securities strategic partnership for tokenized securities markets. Bitfinex Securities holds its primary license in El Salvador's digital asset regulatory framework, enabling the partnership to leverage cross-border securities trading infrastructure.
• Wahed Invest LLCcoreImplementation/ SI/ Consulting Partner · 5 November 2025KraneShares launched the KWIN ETF (KraneShares Wahed Alternative Income Index ETF) in partnership with Wahed Invest LLC, with Wahed serving as sub-advisor. KWIN is a Shariah-compliant ETF that tracks the Wahed Shariah Alternative Income Index, employing exchange-traded FLEX contracts and Shariah-compliant stocks to generate returns. The fund targets faith-aligned investors seeking alternative income strategies.
• RoboStoreminorGTM or Marketing PartnerKraneShares partnered with China-based RoboStore to showcase humanoid robots at high-profile events including the Wealth Management EDGE conference and the 2026 Met Gala (AgiBot's A2 humanoid robot appeared alongside designer Alexander Wang). RoboStore is the world's leading distributor of Unitree humanoid robots and rang the Nasdaq opening bell with KraneShares for KOID in June 2025.
• Mount Lucas ManagementcoreTechnology or IntegrationMount Lucas Management serves as the index provider for the KMLM ETF (KraneShares Mount Lucas Managed Futures Index Strategy ETF), providing systematic exposure to global macro trends through futures contracts in commodities, currencies, and fixed income. The ETF uses a rules-based, trend-following approach.
• MerQubecoreTechnology or IntegrationMerQube provides the index methodology for KOID (KraneShares Global Humanoid & Embodied Intelligence Index ETF), tracking the MerQube Global Humanoid and Embodied Intelligence index. KOID provides diversified holdings across the humanoid supply chain.
• AgiBotminorGTM or Marketing PartnerKraneShares promoted its KOID humanoid robotics ETF by partnering with China-based AgiBot to showcase humanoid robots at high-profile events, including AgiBot's A2 humanoid robot appearing at the 2026 Met Gala alongside designer Alexander Wang. Morgan Stanley projects the humanoid robotics TAM at nearly $5 trillion by 2050.
• BoseracoreTechnology or IntegrationBosera serves as index provider/partner for the KBA ETF (KraneShares Bosera MSCI China A 50 Connect Index ETF), providing access to 50 large-cap Shanghai and Shenzhen listed stocks (A-shares) available through Stock Connect. KBA's top sector has shifted from financials to information technology.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ProShares: Direct competitor in leveraged single-stock ETFs and thematic strategies. Overlaps with KraneShares' KPDD, KBAB, KMLI, KBDU, KJD leveraged suite.
• Global X Management Company: Direct competitor in thematic ETFs with overlapping China (China Tech, China Consumer), robotics/AI (ROBO, BOTZ, AIQ), and emerging markets funds. Closest peer given similar thematic, innovation-focused product philosophy.
• Invesco (Invesco QQQ / Invesco China): Direct competitor with China technology ETFs (Invesco Golden Dragon China, Invesco China Technology) and broad thematic exposure. Significant overlap with KraneShares' KWEB and KBA-style products.
• VanEck: Direct peer offering thematic and country-specific ETFs including China, semiconductor, and gaming funds (MOAT, SMH, CNXT). Comparable thematic-driven product strategy targeting specialized exposures.
• WisdomTree Investments: Direct competitor in China small-cap (CNXS), emerging markets, and currency-hedged ETFs. Similar focus on differentiated, specialized exposures beyond plain vanilla index funds.
• Direxion: Direct peer in leveraged and thematic single-stock ETFs, including China-exposed tickers. Competes head-to-head with KraneShares' 2X leveraged single-stock products.
• First Trust Advisors: Direct peer in thematic and income ETFs with comparable product cadence and advisor-channel distribution focus. Comparable AUM scale and target audience (financial advisors and RIAs).

Broad incumbents

• iShares (BlackRock): Largest ETF manager globally with iShares MSCI China and thematic exposures (robotics, AI). Provides scale advantage on distribution and pricing that specialized competitors like KraneShares must navigate around.
• SPDR State Street Global Advisors: Broad incumbent offering thematic and sector ETFs including China and emerging markets exposure. Large-scale distribution provides structural advantage in shelf placement.

Emerging players

• Simplify Asset Management: Emerging thematic ETF manager with comparable options-income and alternatives strategies (covered call, buffered). Smaller scale but similar product innovation philosophy in derivative-driven income and hedged equity funds like KIQQ and KSPY.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/KraneShares
• Facebookfacebook.com/KraneShares
• LinkedInlinkedin.com/company/kraneshares

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KraneShares