KraneShares California Carbon Allowance Strategy ETF
$17.00+0.22 (+1.31%)
- 0.95%
- $119M
- −3.3%
- 2.88%
- 0M sh
- $16.92
- low $14.57high $18.05
The ETF.net KCCA Grade
D
Score 32 out of 100
- 13 of 15
Score 32 of 100 falls in the D 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.F21 out of 100Rank 12 of 15Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D25 out of 100Rank 15 of 15Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C51 out of 100Rank 7 of 15Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D39 out of 100Rank 4 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B60 out of 100Rank 6 of 15
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
- 3
- 100%
- KCSH
Sectors
- Financials27.1%
- Technology16.2%
- Industrials15.3%
- Consumer Discretionary10.1%
- Energy7.9%
- Health Care7.6%
- Communication7.3%
- Utilities4.5%
- Consumer 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.
Not enough history yet.
KCCA$9,671
Returns run to the Oct 12, 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 | −0.1% |
| 1 month | −0.5% |
| 3 months | −3.6% |
| 1 year | −3.3% |
| 3 years | −6.9% |
| 5 years | −1.4% |
| 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 | −0.1% | |
| 2025 | −11.8% | |
| 2024 | −16.4% | |
| 2023 | +34.1% | |
| 2022 | −17.5% | |
| 2021 | +8.9% |
KCCA in the news
KCCA Dividends
- 2.88%
- $0.48
- $0.48 per share
- Annual
Distribution history
KCCA Risk
- 19.4%
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.
- −0.53
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
0.95%
KCCA0.95%
- The middle half of Commodity Futures funds
- Median 0.79%
10 of the 14 Commodity Futures funds charge less.
Other funds in Commodity Futures
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- CZSCUSCF ETF Trust - USCF Sustainable Commodity Strategy FundExpense ratio 0.79%1 year return +17.1%
- FCCOMSimplify Chinese Commodities Strategy No K-1 ETFExpense ratio 0.99%1 year return —
- FBDRYBreakwave Dry Bulk Shipping ETFExpense ratio 3.50%1 year return +66.9%