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Launched · SEC filings

KraneShares 90% KWEB Defined Outcome January 2027 ETF

KBUFNYSE ArcaKraneSharesF

$25.24+0.16 (+0.64%)

As of Nov 2, 2026, 3:55 PM ET

F24/ 100

Rank 21 of 24 in Other Floor Protected

F24/100Rank 21 of 24inOther Floor Protected
Intraday session: up, 72 prints from 25.08 to 25.24. Range 25.08 to 25.24. Use the arrow keys to read each point.25.1025.1325.1525.1825.2010 AM12 PM2 PM4 PM
Expense ratio
0.97%
Fund size
$6M
1Y total return
−20.0%
Yield · Last 12 months
9.14%
Holdings
3
Avg volume · 30D
4.52K sh
52W range
low $25.07high $34.14
Launched
Filings
SEC EDGAR

The ETF.net KBUF Grade

Based on 5 of 6 pillars

F

Score 24 out of 100

Category
Other Floor Protected⁠
Rank
21 of 24
Six-pillar profile for KBUF. Scores out of 100: Cost 9, Risk 14, Mission not scored, Tradability 52, Holdings 38, Durability 61. Strongest: Durability (61). Weakest: Cost (9). Based on 5 of 6 pillars.

Score 24 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F9 out of 100
    Rank 22 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F14 out of 100
    Rank 22 of 24

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C52 out of 100
    Rank 13 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D38 out of 100
    Rank 8 of 10

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B61 out of 100
    Rank 9 of 24

Our read on KBUF

ETF.net Research

In short

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

  • A 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
  • The 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
  • The 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

  • At 0.97% a year it runs above the defined-outcome median. The Calamos structured protection funds (CPRY, CPRJ, CPRO) charge 0.69%.
  • The 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
  • Small and lightly traded next to mainstream buffer funds, so spreads can be wider and limit orders matter more at the open and close.

KBUF Performance

Launched Feb 7, 2024

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.
KBUF$7,995
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. KBUF $7,995. SPY $11,199. Use the arrow keys to read each point.$8,000$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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−17.8%
1 month−1.4%
3 months−8.9%
1 year−20.0%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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−17.8%
2025+18.0%
2024+16.6%

History from Feb 8, 2024

KBUF in the news

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 Oct 30, 2026.
9.14%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

$10,000 in KBUF 1 year ago paid $680 in dividends.

KBUF Risk

Risk pillarF14 out of 100Rank 22 of 24 in Other Floor Protected
How much the fund’s monthly returns vary, scaled to a year.
13.0%
Annualised · 32 months to Oct 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.
0.02
vs 3-month T-bills · 32 months to Oct 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.
−22.9%
32 months · trough Oct 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.
0.18
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.

FMP measures it over up to five years of monthly returns.

KBUF Cost

Compare KBUF and ISWN

Overpaying vs ISWN, cheapest in Other Floor Protected

$8,406

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KBUF 0.97%

    $18,198

  • ISWN 0.49% Cheapest

    $9,792

$10,000
30 years

Cost over time

  • KBUF 0.97%
  • ISWN 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KBUF $18,198ISWN $9,792

Year by year

YearKBUFISWNOverpaying
10$1,712$883$829
20$6,443$3,394$3,049
30$18,198$9,792$8,406

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