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KBDU

GradeCNASDAQ

KraneShares 2x Long BIDU Daily ETF

Leveraged · Single-Stock Leveraged · KraneShares · Inception 2025-11-19

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.

$11.15−0.68 (−5.74%)

As of Sep 23, 2026, 3:01 PM EDT

History starts Nov 21, 2025.History starts Nov 21, 2025.
Intraday session: down, 16 prints from 11.83 to 11.15. Range 10.95 to 11.28. Use the arrow keys to read each point.$11.00$11.10$11.20$11.3010 AM12 PM2 PM4 PM
Expense ratio
1.25%
Fund size
$1M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$11.80
52W range
low $10.89high $46.99

The ETF.net KBDU Grade

C

40/ 100

Rank 168 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for KBDU. Scores out of 100: Cost 39, Risk 51, Mission 97, Tradability 35, Holdings not scored, Durability 45. Strongest: Mission (97). Weakest: Tradability (35). 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 earned41This cap took−1Published score40 Grade C

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank232/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 97
    Category rank30/147 · top 20%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 51
    Category rank123/285 · top 43%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 35
    Category rank253/380 · 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.
    CScore 45
    Category rank219/380 · mid-pack

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

Our read on KBDU

ETF.net Research

CMost 2x single-stock ETFs chase US megacaps. KBDU points the same machinery at Baidu's ADR, China's search giant turned AI and robotaxi player, aiming for 200% of its daily move before fees.

Stated mandate

KBDU seeks daily investment results, before fees and expenses, equal to two times the daily percentage change of Baidu Inc.'s ADR.

Why people hold it

  1. 01Rare exposure: the levered single-stock aisle is stacked with US megacaps. KBDU aims at Baidu's ADR, China's biggest search engine and operator of the Apollo Go robotaxi fleet.kraneshares.com
  2. 02It sticks tightly to its stated job: two times the daily percentage change of Baidu's ADR, before fees, with little drift from that target.
  3. 03Leverage without a margin account. No borrowing, no collateral to post, and the most you can lose is what you put in.kraneshares.com

Worth knowing

  1. 01The 1.25% expense ratio runs above the typical 2x single-stock fund, and a rival 2x BIDU product (BIDG) lists a 0.75% fee.leverageshares.com
  2. 02Daily reset: the 2x target starts fresh each morning, so over longer stretches choppy trading in Baidu can leave returns well short of twice the stock's move.kraneshares.com
  3. 03Launched November 2025, it sits among the smaller, lightly traded names in this corner, so bid-ask spreads can run wider than on the megacap levered funds.

KBDU Holdings

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
—
Top-10 weight
100%
Largest holding
Baidu Inc.66.7%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Baidu Inc.66.67%12,446$1M1
002—Cash33.33%-547,165$560K104

Showing 1–2 of 2 holdings

KBDU Performance

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

KBDU$3,848
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. KBDU $3,848. SPY $11,430. Use the arrow keys to read each point.$2,630$9,247$15,864Dec 2025May 2026Sep 2026

Dec 31, 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 KBDU. Periods over one year show the average yearly return.
PeriodKBDU
Year to date−61.5%
1 month−3.8%
3 months−37.2%
1 yearFund is under 1 year old—
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 KBDU
YearReturn barKBDU
2026 YTD−61.5%
2025+33.9%

History from Nov 21, 2025

KBDU in the news

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

KBDU 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.
—Last 12 months
Payout per share
—Last 12 months

Listed Nov 2025. No distributions yet.

KBDU 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.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
—
Launched Nov 2025; fills in after 12 months
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.
3.27
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.

KBDU Cost

Expense ratio1.25%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

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

KBDU costs $125.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.