Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
KraneShares 2X Long BABA Daily ETF
CThis fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.
$6.68+0.04 (+0.56%)
- 1.26%
- $3M
- −62.4%
- 0M sh
- $6.74
- low $4.95high $35.52
The ETF.net KBAB Grade
C
Score 40 out of 100
- 131 of 380
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 44
- This cap took
- −4
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.D39 out of 100Rank 230 of 380Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 15 of 148Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 211 of 363Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C51 out of 100Rank 169 of 380Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B57 out of 100Rank 147 of 380
Our read on KBAB
CAlibaba, doubled, daily. KBAB aims for twice the daily move in BABA's US-listed ADR from a single ticker, no margin account or options chain required. The leverage resets every session, so past one day the math is compounding, not simple 2x.
The fund seeks daily investment results equal to twice the daily percentage change of Alibaba Group Holding Limited's ADR, before fees and expenses.
Why people hold it
- One ticker does the work: the fund targets twice the daily percentage change in Alibaba's ADR, before fees, with the leverage handled inside the wrapper.
- Day to day, it has tracked its stated target closely, landing in line with twice BABA's daily move.
- No index, no basket, no manager discretion. The prospectus mandate is one stock at 2x daily, so what you hold is what the label says.
Worth knowing
- At 1.26%, the fee runs above the other geared BABA plays: BABU at 0.99% and BABX at 1.20%.
- Daily reset means compounding. Hold through a choppy stretch and results can drift well away from twice BABA's move over that same stretch.
- Small and thinly traded next to its category, which typically shows up as wider spreads, and a 2025 launch leaves a short track record.
KBAB Holdings
- Stocks
- 2
- 100%
- Alibaba Group Holding Ltd
Sectors
- Consumer Discretionary100.0%
KBAB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
KBAB$3,762
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | KBAB |
|---|---|
| Year to date | −53.5% |
| 1 month | +0.3% |
| 3 months | −9.3% |
| 1 year | −62.4% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | KBAB |
|---|---|---|
| 2026 YTD | −53.5% | |
| 2025 | −8.3% |
KBAB in the news
KBAB Dividends
- $0.05 per share
- Irregular
Distribution data unavailable.
Distribution history
KBAB Risk
This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.
- 101.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.14
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −79.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 2.65
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
KBAB Cost
1.26%
KBAB1.26%
- The middle half of Single-Stock Long Leveraged funds
- Median 0.98%
232 of the 333 Single-Stock Long Leveraged funds charge less.
Other funds in Single-Stock Long Leveraged
- CJBLGThemes ETF Trust - Leverage Shares 2X Long JBL Daily ETFExpense ratio 0.99%1 year return —
- CJOBCCorgi ETF Trust I - Corgi JOBY 2x Daily ETFExpense ratio 0.45%1 year return —
- CKBDUKraneShares 2x Long BIDU Daily ETFExpense ratio 1.25%1 year return —
- CKEYGThemes ETF Trust - Leverage Shares 2x Long KEYS Daily ETFExpense ratio 0.99%1 year return —
- CKEYXCorgi ETF Trust I - Corgi KEYS 2x Daily ETFExpense ratio 0.45%1 year return —