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KBAB

GradeCNASDAQ Global Select

KraneShares 2X Long BABA Daily ETF​

Leveraged · Single-Stock Leveraged · KraneShares · Inception 2025-03-11

This 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.

$6.76−0.68 (−9.17%)

As of Sep 23, 2026, 3:10 PM EDT

History starts Mar 12, 2025.
Intraday session: down, 42 prints from 7.45 to 6.76. Range 6.73 to 6.91. Use the arrow keys to read each point.$6.80$6.85$6.9010 AM12 PM2 PM4 PM
Expense ratio
1.26%
Fund size
$3M
1Y return
−61.7%
Yield · Last 12 months
Data unavailable
Holdings
4
Volume · 30D
0M sh
NAV per share
$7.45
52W range
low $4.95high $41.12

The ETF.net KBAB Grade

C

40/ 100

Rank 167 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for KBAB. Scores out of 100: Cost 39, Risk 46, Mission 97, Tradability 44, Holdings not scored, Durability 58. Strongest: Mission (97). Weakest: Cost (39). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E. A structural cap ceilings this fund at 40, so B and A are out of reach.

Ceiling 40 · B and A out of reach

The pillars earned43This cap took−3Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank231/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 97
    Category rank29/147 · top 20%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 46
    Category rank158/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 44
    Category rank205/380 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 58
    Category rank148/380 · top 39%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on KBAB

ETF.net Research

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.

Stated mandate

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

  1. 01One 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.
  2. 02Day to day, it has tracked its stated target closely, landing in line with twice BABA's daily move.
  3. 03No 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

  1. 01At 1.26%, the fee runs above the other geared BABA plays: BABU at 0.99% and BABX at 1.20%.
  2. 02Daily reset means compounding. Hold through a choppy stretch and results can drift well away from twice BABA's move over that same stretch.
  3. 03Small 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

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
4
Top-10 weight
100%
Largest holding
ALIBABA GROUP HOLDING LTD66.7%

Sectors

  • Consumer Discr.100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—ALIBABA GROUP HOLDING LTD66.67%49,940$6M3
002—Cash33.33%-2,777,559$3M104

Showing 1–2 of 2 holdings

KBAB Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

KBAB$3,828
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. KBAB $3,828. SPY $11,723. Use the arrow keys to read each point.$1,906$7,915$13,924Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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.

Trailing total return for KBAB. Periods over one year show the average yearly return.
PeriodKBAB
Year to date−47.8%
1 month−6.4%
3 months+14.2%
1 year−61.7%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for KBAB
YearReturn barKBAB
2026 YTD−47.8%
2025−8.3%

History from Mar 12, 2025

KBAB in the news

ETF.net Research hasn’t filed on KBAB yet — coverage lands here as it’s written.

KBAB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.05 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 22, 2025 $8.49; Dec 30, 2025 $0.05. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.05
Dec 22, 2025Dec 23, 2025$8.49

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.

How much the fund’s monthly returns vary, scaled to a year.
104.4%
Annualised · 17 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.06
vs 3-month T-bills · 17 months to Aug 2026
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.

The largest fall from a peak to the low that followed.
−79.1%
18 months · trough Jun 2026
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.

How strongly the fund’s returns move with its asset-class index.
2.61
vs its asset-class index
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

Expense ratio1.26%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

228 of the 329 Single-Stock Long Leveraged funds charge less.

KBAB costs $126.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.