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KBUF

GradeFNew York Stock Exchange Arca

KraneShares 90% KWEB Defined Outcome January 2027 ETF

Floor Protected · KraneShares · Inception 2024-02-07 · SEC filings

$25.86+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

History starts Feb 8, 2024.
Intraday session: flat, 2 prints from 25.86 to 25.86. Range 25.82 to 25.86. Use the arrow keys to read each point.$25.82$25.8410 AM12 PM2 PM4 PM
Expense ratio
0.97%
Fund size
$6M
1Y return
−19.4%
Yield · Last 12 months
8.89%
Holdings
4
Volume · 30D
0M sh
NAV per share
$25.78
52W range
low $25.51high $35.01

The ETF.net KBUF Grade

F

20/ 100

Rank 23 of 24 in Other Floor Protected⁠

Confidence Medium

Six-pillar profile for KBUF. Scores out of 100: Cost 4, Risk 13, Mission not scored, Tradability 45, Holdings 34, Durability 63. Strongest: Durability (63). Weakest: Cost (4). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 20 of 100 sits in the F band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 4
    Category rank23/24 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 13
    Category rank21/23 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 45
    Category rank15/24 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 34
    Category rank8/10 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 63
    Category rank8/24 · top 33%

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

Our read on KBUF

ETF.net Research

FBuffer ETFs almost always wrap a US index. This one wraps KWEB, KraneShares' China internet basket, with a 90% protection level running to January 2027. A wild reference asset, put inside defined guardrails.

Stated mandate

The fund seeks to track the price return of KWEB during a defined outcome period, subject to a 40.01% cap and a 90% downside buffer.

Why people hold it

  1. 01A defined-outcome structure pointed at China internet stocks instead of the usual US large-cap index: it targets KWEB's price return with a 90% protection level over the outcome period.kraneshares.com
  2. 02The reference basket swings hard, and those rich option premiums are what let the structure pair a defined upside cap with the downside protection.kraneshares.com
  3. 03The options work happens inside a standard 1940 Act fund. One ticket, no options account, no rolling positions, no margin calls to manage.kraneshares.com

Worth knowing

  1. 01At 0.97% a year it runs above the defined-outcome median. The Calamos structured protection funds (CPRY, CPRJ, CPRO) charge 0.69%.
  2. 02The outcomes are engineered for the full period ending January 15, 2027. Buy in partway through and your effective cap and protection differ from the headline terms.kraneshares.com
  3. 03Small and lightly traded next to mainstream buffer funds, so spreads can be wider and limit orders matter more at the open and close.

KBUF Holdings

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
4
Top-10 weight
100%
Largest holding
KWEB88.1%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001KWEBKraneShares CSI China Internet ETF88.07%227,500$6M8
002—2KWEB US 01/15/27 P27.4911.50%2,275$738K1
003—Cash0.54%34,671$35K104

Showing 1–3 of 3 holdings

KBUF Performance

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

KBUF$8,058
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. KBUF $8,058. SPY $11,723. Use the arrow keys to read each point.$7,644$9,855$12,067Sep 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 KBUF. Periods over one year show the average yearly return.
PeriodKBUF
Year to date−15.5%
1 month−2.7%
3 months−0.7%
1 year−19.4%
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 KBUF
YearReturn barKBUF
2026 YTD−15.5%
2025+18.0%
2024+16.6%

History from Feb 8, 2024

KBUF in the news

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

KBUF 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.
8.89%Last 12 months
Payout per share
$2.30Last 12 months
Last payment
$2.30 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 30, 2024 $0.98; Dec 30, 2025 $2.30. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$2.30
Dec 30, 2024Dec 31, 2024$0.98

KBUF Risk

How much the fund’s monthly returns vary, scaled to a year.
13.3%
Annualised · 30 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.
0.16
vs 3-month T-bills · 30 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.
−21.6%
31 months · trough Sep 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.
0.19
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.

KBUF Cost

Expense ratio0.97%
  • The middle half of Other Floor Protected funds
  • Median 0.79%

16 of the 18 Other Floor Protected funds charge less.

KBUF costs $97.00 a year on $10,000. The median Other Floor Protected fund costs $79.50.