KraneShares Hedgeye Hedged Equity Index ETF

Frequently Asked Questions About KSPY

What does KSPY invest in?

Typically, the fund invests a minimum of 80% of its net assets in constituents of its benchmark index or financial instruments with equivalent economic characteristics. Its underlying benchmark is engineered to track a portfolio of large-capitalization equities that utilizes downside hedging. This hedging aims to deliver reduced volatility compared to an unhedged large-cap portfolio. The fund is non-diversified.

What is the expense ratio of KSPY?

KraneShares Hedgeye Hedged Equity Index ETF (KSPY) charges an expense ratio of 0.88%. This is the annual fee deducted from fund assets to cover management and operations.

What is KSPY's distribution yield?

KSPY's trailing-twelve-month yield is 6.05%, calculated from the sum of distributions over the past year divided by the current price.

How does KSPY's covered-call strategy work?

KSPY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside — when the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is KSPY?

KraneShares Hedgeye Hedged Equity Index ETF (KSPY) manages $120.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is KSPY actively managed or an index fund?

KSPY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.