KraneShares KWEB Covered Call Strategy ETF
$22.53−0.33 (−1.45%)
- Expense ratio
- 0.94%
- Fund size
- $95M
- 1Y return
- −12.8%
- Yield · Last 12 months
- 29.69%
- Holdings
- 11
- Volume · 30D
- 0M sh
- NAV per share
- $22.87
- 52W range
The ETF.net KLIP Grade
Score 35 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.DScore 33Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 70Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.FScore 23Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 46Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 34Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 54Category rank
Our read on KLIP
DCovered calls, pointed at China internet stocks. KLIP owns KWEB and sells calls on it, turning one of the world's jumpiest equity baskets into option premium, paid out monthly. Fat premiums are the draw; a lid on sharp rebounds is the trade.
KLIP uses a covered-call strategy by purchasing shares of KWEB and selling corresponding call options on that underlying ETF.
Why people hold it
- The mechanism is one sentence: hold KWEB, sell calls on it. No options account, no rolling contracts, no margin paperwork on your end.
- Volatile underlyings command richer option premiums, and China internet is about as volatile as equity baskets get. KLIP is built to sell that swing rather than sit through it.
- Distributions come monthly, and the exposure underneath is a single named ETF rather than a black-box basket, so you always know what the calls are written against.
- Running since 2023, so the strategy has been through a full cycle of China internet drawdowns and violent snapback rallies, not just a calm stretch.
Worth knowing
- At 0.94% a year, it costs more than the typical option-income fund in its group (median 0.75%). You are paying up for the overlay and the niche.
- Selling calls caps how much of a rebound you capture while leaving the downside of China internet stocks intact. In a market that moves in bursts, that asymmetry matters.
- It is a smaller fund that does not trade heavily, so bid-ask spreads can widen, especially outside the calmest parts of the session.
KLIP Holdings
- Stocks
- 11
- 102%
- KWEB
Sectors
Geography
KLIP 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 | KLIP |
|---|---|
| Year to date | −10.5% |
| 1 month | −2.6% |
| 3 months | +2.4% |
| 1 year | −12.8% |
| 3 years | +5.2% |
| 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 | KLIP |
|---|---|---|
| 2026 YTD | −10.5% | |
| 2025 | +18.0% | |
| 2024 | +3.4% | |
| 2023 | +10.6% |
KLIP in the news
ETF.net Research hasn’t filed on KLIP yet — coverage lands here as it’s written.
KLIP Dividends
- 29.69%
- $6.78
- $0.47 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Aug 31, 2026 | $0.47 |
| Jul 30, 2026 | Jul 31, 2026 | $0.49 |
| Jun 29, 2026 | Jun 30, 2026 | $0.46 |
| May 28, 2026 | May 29, 2026 | $0.51 |
| Apr 29, 2026 | Apr 30, 2026 | $0.53 |
| Mar 30, 2026 | Mar 31, 2026 | $0.52 |
| Feb 26, 2026 | Feb 27, 2026 | $0.58 |
| Jan 29, 2026 | Jan 30, 2026 | $0.64 |
| Dec 30, 2025 | Dec 31, 2025 | $0.62 |
| Nov 26, 2025 | Nov 28, 2025 | $0.63 |
| Oct 30, 2025 | Oct 31, 2025 | $0.67 |
| Sep 29, 2025 | Sep 30, 2025 | $0.67 |
KLIP Risk
- 14.3%
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.
- 0.14
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.
- −21.4%
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.
- 0.34
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
KLIP Cost
- The middle half of Index Option Income funds
- Median 0.81%
16 of the 25 Index Option Income funds charge less.