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Overview

Performance

Distributions

Growth of $10,000

Holdings

Fund Documents

Overview

Investment Strategy:

KIQQ is designed for investors seeking to maintain equity exposure to the Nasdaq-100® Index through volatile and uncertain markets. The underlying approach is similar to a common trading strategy known as a “collar”, where an investor owns a stock position and simultaneously sells call options to generate option income while purchasing put options to hedge against downside risk. KIQQ takes this strategy one step further by utilizing the Nasdaq InspereX Dynamic Buffered High Income™ Index as its benchmark. The Index uses futures on the Nasdaq-100 Futures Excess Return™ Index to delta-replicate loss-limiting puts, while selling out-of-the-money calls to generate option income. This enhanced approach seeks to provide upside participation, a potential reduction in hedging costs, and monthly distributions.

Why KIQQ:

  • KIQQ was developed in partnership with InspereX, who specializes in structured risk-managed solutions. KraneShares has also initially engaged Goldman Sachs as a swap counterparty for the fund’s option exposure.
  • KIQQ is designed for investors seeking to maintain equity exposure through volatile and uncertain markets, like in 2025, where the Nasdaq 100 continued to hit all-time highs even as valuations and concentration risk increased.
  • KIQQ’s Index utilizes an enhanced collar strategy to potentially serve as a useful building block for portfolios seeking growth potential while limiting losses and mitigating downside risk.

There is no guarantee that losses will be limited or that the strategy will be effective in all market conditions. Distributions are not guaranteed and may vary. The Fund may engage one or more financial institutions as swap counterparties to implement its derivatives strategy. Counterparties are subject to change without notice. Goldman Sachs is not an advisor, promoter or affiliate of KIQQ or KraneShares and has no responsibility regarding the advisability or suitability of the KIQQ fund as an investment.

Delta-replicate loss-limiting puts: An options strategy involving put options structured to limit downside risk, where the "delta" is closely matched (replicated) to the underlying asset’s movements, providing targeted risk exposure or protection. The core objective is to hedge a position while effectively capping potential losses through a controlled options purchase. This approach is mainly used to ensure a portfolio against significant declines while retaining upside potential.

Fund Details

Data as of 02/20/2026
Ticker KIQQ
Primary Exchange NASDAQ
CUSIP 500767199
ISIN US5007671994
Net Assets $2,417,132
Shares Outstanding 100,002
Total Annual Fund Operating Expense 0.79%
Inception Date 1/6/2026
Distribution Frequency Monthly

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Daily Performance

Data as of 02/20/2026
Daily Net Asset Value (NAV) and Market Price
NAV $24.17
NAV Daily Change 0.79%
Market Price $24.11
Market Price Daily Change 0.63%
30 Day Median Bid/Ask Spread
0.38%
30 Day Median Bid/Ask Spread as of 02/19/2026.The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer ("NBBO") as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

Performance History

Cumulative %
Data as of: 01/31/2026
Fund NAV Closing Price Underlying Index
1 Month – – –
3 Month – – –
6 Month – – –
YTD – – –
Since Inception -0.57% 0.19% -0.21%
Cumulative %
Data as of quarter end: 12/31/2025
Fund NAV Closing Price Underlying Index
Since Inception – – –

InspereX Nasdaq Dynamic Buffered High Income™ Index (the “Underlying Index”): The Underlying Index is designed to track the performance of a systematic enhanced collar strategy that seeks to limit losses while providing option income on the Nasdaq-100® Index.

Nasdaq-100 Futures Excess Return™ Index: A benchmark designed to track the performance of a hypothetical strategy that holds continual (rolled) long positions in Nasdaq-100 futures contracts, accounting for gains/losses in the underlying while excluding the interest earned on collateral cash balances. This index represents leveraged, unfunded exposure to the Nasdaq-100® Index and is often used in structured financial products to provide "excess return" without the cash financing component. The index is systematically rolled forward to maintain continuous futures exposure and remove the cost of carry or financing from the index return.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Distribution History

2026 Distributions
Ex-Date Record Date Payable Date Amount
01/29/2026 01/29/2026 01/30/2026 0.188997

Future calendar dates are subject to change. There is no guarantee that dividends will be paid. Past distributions are not indicative of future trends. This material is provided for educational purposes only and does not constitute investment advice.

Distributions are issued to brokers on the payable date, and are subject to broker payment schedules.

Topics:

Growth of $10,000

Data as of 02/20/2026

The Growth of $10,000 chart reflects an initial investment of $10,000 on the day prior to the selected time period and assumes reinvestment of dividends and capital gains. For the growth of $10,000 chart since inception, the initial investment of $10,000 is instead made on the inception date of the Fund. Fund expenses, including management fees and other expenses were deducted. The growth of a $10,000 investment in the fund is hypothetical and for illustration purposes only. Fund performance data used in this chart is based on Fund NAV and represents past performance. Past performance does not guarantee future results.

Top 10 Holdings

Data as of 02/20/2026 Full Holdings .CSV
Rank Name % of Net Assets Ticker Identifier Type Shares Held Market Value($)
1 RECV +NDXDBHIO/-FED FUNDS 98.40% – – Total Return Swaps 31,613 2,378,550
2 NVIDIA CORP 9.14% NVDA US67066G1040 Stock - Common 1,164 220,950
3 APPLE INC 7.92% AAPL US0378331005 Stock - Common 724 191,556
4 MICROSOFT CORP 5.72% MSFT US5949181045 Stock - Common 348 138,236
5 AMAZON.COM INC 4.14% AMZN US0231351067 Stock - Common 476 100,012
6 META PLATFORMS INC 3.80% META US30303M1027 Stock - Common 140 91,792
7 Cash 3.77% – – Cash 91,205 91,205
8 TESLA INC 3.68% TSLA US88160R1014 Stock - Common 216 88,953
9 ALPHABET INC-CL A 3.60% GOOGL US02079K3059 Stock - Common 276 86,934
10 ALPHABET INC-CL C 3.39% GOOG US02079K1079 Stock - Common 260 81,874

Holdings are subject to change.

Fund Documents

©2026 Krane Funds Advisors, LLC
280 Park Avenue, 32nd Floor, New York, NY 10017 [email protected]

Carefully consider the Funds’ investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Funds’ full and summary prospectus, which may be obtained by visiting www.kraneshares.com. Read the prospectus carefully before investing.

Risk Disclosures:

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. Indices are unmanaged and do not include the effect of fees. One cannot invest directly in an index.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change. Certain content represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results; material is as of the dates noted and is subject to change without notice.

The Fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund’s gains or losses. A derivative (i.e., futures/forward contracts, swaps, and options) is a contract that derives its value from the performance of an underlying asset. The primary risk of derivatives is that changes in the asset’s market value and the derivative may not be proportionate, and some derivatives can have the potential for unlimited losses. Derivatives are also subject to liquidity and counterparty risk. The Fund is subject to liquidity risk, meaning that certain investments may become difficult to purchase or sell at a reasonable time and price. If a transaction for these securities is large, it may not be possible to initiate, which may cause the Fund to suffer losses. Counterparty risk is the risk of loss in the event that the counterparty to an agreement fails to make required payments or otherwise comply with the terms of the derivative.

Hedges may have imperfect matching between the derivative and the underlying security; there is no assurance that hedging will be effective. Hedging may reduce or eliminate losses or gains.

Options are derivative contracts that give the holder, for a premium, the right to buy or sell an underlying asset at a set price within a specified period, while the writer must fulfill the obligation if exercised. Their value is highly sensitive to factors such as changes in the underlying asset, interest and currency rates, implied volatility, time to expiration, and global economic or political events. These instruments can be illiquid and may not perfectly track the reference asset. Writing options can reduce market risk but limits upside potential, while purchasing options risks losing the premium paid. Market disruptions or lack of liquidity may impair strategy effectiveness, so options may not always reduce volatility and could result in losses.​

The Fund earns option premium income from selling options, which is generally classified as a return of capital for financial reporting and shown as such on monthly 19(a) notices. These notices, however, do not reflect the tax treatment, which is determined after year-end. For tax purposes, this income is typically considered taxable investment income and may not reduce your tax basis in Fund shares when distributed.​ The use of options involves risks and strategies that differ from traditional securities. Options prices can be highly volatile and influenced by changes in the underlying asset, interest rates, currency exchange rates, and market expectations. Options may be illiquid or imperfectly correlated with the underlying asset. Purchasing options can result in the loss of the entire premium, while writing options may limit gains and create significant obligations if exercised. Market disruptions or lack of liquidity may reduce the effectiveness of options strategies, and there is no guarantee they will reduce portfolio volatility. ​

Certain derivatives, including options, may be centrally cleared through a clearing house such as the OCC, which introduces risks related to margin, commingled accounts, and clearing member defaults. If a clearing member or the OCC fails to meet obligations, the Fund could suffer losses. ​

Futures contracts also involve risks, including imperfect correlation with reference assets, potential illiquidity, and substantial daily margin calls that may require selling securities at disadvantageous times. ​

Swap transactions generally do not involve delivery of the reference asset or notional amount, and losses are typically limited to net payments owed. Swaps are of limited duration, and the ability to maintain or renew positions depends on available counterparties and agreed terms. Limited counterparties or defaults could impair the Fund’s ability to implement its investment strategy.​

The Fund is new and does not yet have a significant number of shares outstanding. If the Fund does not grow in size, it will be at greater risk than larger funds of wider bid-ask spreads for its shares, trading at a greater premium or discount to NAV, liquidation and/or a trading halt. Narrowly focused investments typically exhibit higher volatility. The Fund’s assets are expected to be concentrated in a sector, industry, market, or group of concentrations to the extent that the Underlying Index has such concentrations. The securities or futures in that concentration could react similarly to market developments. Thus, the Fund is subject to loss due to adverse occurrences that affect that concentration. KIQQ is non-diversified.

ETF shares are bought and sold on an exchange at market price (not NAV) and are not individually redeemed from the Fund. However, shares may be redeemed at NAV directly by certain authorized broker-dealers (Authorized Participants) in very large creation/redemption units. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns. Beginning 12/23/2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer ("NBBO") as of the time the ETF calculates the current NAV per share. Prior to that date, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time.

The KraneShares ETFs and KFA Funds ETFs are distributed by SEI Investments Distribution Company (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Krane Funds Advisors, LLC, the Investment Adviser for the Funds, or any sub-advisers for the Funds.

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