KraneShares California Carbon Allowance Strategy ETF
$16.28−0.11 (−0.67%)
- Expense ratio
- 0.95%
- Fund size
- $114M
- 1Y return
- −1.7%
- Yield · Last 12 months
- 2.95%
- Holdings
- 4
- Volume · 30D
- 0M sh
- NAV per share
- $16.35
- 52W range
The ETF.net KCCA Grade
Score 31 of 100 sits in the D 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 21Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 25Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 49Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.FScore 22Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 59Category rank
Our read on KCCA
DMost commodity funds ride weather and geology. KCCA tracks futures on California carbon allowances, a market where supply is set by state regulators and the auction floor price ratchets up 5% plus inflation every year.
KCCA provides targeted exposure to California Carbon Allowances through the cap-and-invest market and is benchmarked to an index tracking actively traded CCA futures.
Why people hold it
- A pure play, not a blend: the fund is benchmarked to an index of the most traded California carbon allowance futures, giving you one compliance market rather than a mixed commodity basket.kraneshares.comsec.gov
- The supply side is written into regulation. California's allowance cap declines over time toward the state's 2045 carbon-neutrality goal, and the program's auction floor price rises 5% plus CPI each year.sec.govcongress.gov
- Running since 2021 and part of a dedicated KraneShares carbon lineup spanning global, European, California and Eastern US programs. The California sleeve is a deliberate slice, not a one-off launch.sec.gov
Worth knowing
- The 0.95% fee sits above the typical futures-based commodity fund, where diversified baskets like PDBC (0.74%) and DBB (0.81%) charge less. Specialist access carries a specialist price.
- One market, one rule-maker. Pricing turns on California regulators, auction outcomes and legislation, so this reacts to Sacramento policy news rather than global commodity cycles.congress.govsec.gov
- Thinly traded next to the big commodity ETFs, so spreads and order size deserve a look. It also holds futures through a Cayman subsidiary and is regulated as a commodity pool.kraneshares.com
KCCA Holdings
- Stocks
- 4
- 100%
- KCSH
Sectors
- Financials27.1%
- Technology16.2%
- Industrials15.3%
- Consumer Discr.10.1%
- Energy7.9%
- Health Care7.6%
- Communication7.3%
- Utilities4.5%
- Cons. Staples4.1%
Geography
- United States100.00%
KCCA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | KCCA |
|---|---|
| Year to date | −2.6% |
| 1 month | −3.6% |
| 3 months | −3.5% |
| 1 year | −1.7% |
| 3 years | −8.6% |
| 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 | KCCA |
|---|---|---|
| 2026 YTD | −2.6% | |
| 2025 | −11.8% | |
| 2024 | −16.4% | |
| 2023 | +34.1% | |
| 2022 | −17.5% | |
| 2021 | +8.9% |
KCCA in the news
ETF.net Research hasn’t filed on KCCA yet — coverage lands here as it’s written.
KCCA Dividends
- 2.95%
- $0.48
- $0.48 per share
- Annual
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Dec 22, 2025 | Dec 23, 2025 | $0.48 |
| Dec 17, 2024 | Dec 18, 2024 | $0.97 |
| Jun 27, 2024 | Jun 28, 2024 | $5.03 |
| Dec 18, 2023 | Dec 20, 2023 | $0.74 |
| Jun 28, 2023 | Jun 30, 2023 | $0.20 |
| Dec 28, 2022 | Dec 30, 2022 | $0.06 |
KCCA Risk
- 19.2%
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.
- −0.46
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.
- −41.1%
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.
- −0.14
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
KCCA Cost
- The middle half of Commodity Futures funds
- Median 0.79%
9 of the 13 Commodity Futures funds charge less.