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KPDD

GradeCNASDAQ Global Select

KraneShares 2X Long PDD Daily ETF

Leveraged · Single-Stock Leveraged · KraneShares · Inception 2025-03-11

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$4.70−0.14 (−2.89%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Mar 12, 2025.
Intraday session: down, 31 prints from 4.84 to 4.70. Range 4.65 to 4.73. Use the arrow keys to read each point.$4.66$4.68$4.7210 AM12 PM2 PM4 PM
Expense ratio
1.26%
Fund size
$15M
1Y return
−69.4%
Yield · Last 12 months
Data unavailable
Holdings
4
Volume · 30D
0.3M sh
NAV per share
$4.84
52W range
low $4.10high $29.15

The ETF.net KPDD Grade

C

47/ 100

Rank 98 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for KPDD. Scores out of 100: Cost 39, Risk 45, Mission 89, Tradability 59, Holdings not scored, Durability 68. Strongest: Mission (89). Weakest: Cost (39). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C 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 39
    Category rank235/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 89
    Category rank89/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 45
    Category rank159/285 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 59
    Category rank135/380 · top 36%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 68
    Category rank73/380 · top 19%

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

Our read on KPDD

ETF.net Research

CKraneShares built its name on China exposure. KPDD narrows that to a single name: a fund that aims to deliver twice the daily percentage move of Temu parent PDD Holdings' US-listed shares, reset every trading day.

Stated mandate

The Fund seeks daily investment results equal to twice the daily percentage change of PDD Holdings Inc.'s ADR.

Why people hold it

  1. 01One of only two US funds targeting 2x daily PDD, and the cheaper of the pair at 1.26% a year against PDDL's 1.51%.
  2. 02Gets there by holding the underlying ADR alongside swaps and options, rebalanced daily, so the leverage arrives without posting collateral or borrowing yourself.globenewswire.com
  3. 03Has hit its stated 2x daily target closely, one of the tighter implementations in the leveraged single-stock crowd.
  4. 04Launched March 2025 as the debut of KraneShares' single-stock levered suite, next to a 2x Alibaba twin. A China specialist working in familiar territory.globenewswire.com

Worth knowing

  1. 01The 2x objective resets daily. Over any longer stretch compounding takes the wheel, and results can diverge widely from twice PDD's move across that period.
  2. 02At 1.26%, the fee sits above the roughly 1% median for 2x single-stock funds. That is the toll for a narrower underlying.
  3. 03Everything rides on one Chinese e-commerce ADR, so company news, Beijing policy and US listing rules all land at double strength.

KPDD Holdings

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
4
Top-10 weight
100%
Largest holding
PDD HOLDINGS INC66.7%

Sectors

  • Consumer Discr.100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—PDD HOLDINGS INC66.67%355,551$28M1
002—Cash33.33%-13,669,967$14M104

Showing 1–2 of 2 holdings

KPDD Performance

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

KPDD$3,059
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. KPDD $3,059. SPY $11,723. Use the arrow keys to read each point.$1,967$7,227$12,487Sep 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 KPDD. Periods over one year show the average yearly return.
PeriodKPDD
Year to date−57.9%
1 month−18.7%
3 months+0.0%
1 year−69.4%
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 KPDD
YearReturn barKPDD
2026 YTD−57.9%
2025−26.6%

History from Mar 12, 2025

KPDD in the news

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

KPDD 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$6.65 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 22, 2025 $6.65. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 23, 2025$6.65

KPDD Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
64.1%
Annualised · 17 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.
−0.89
vs 3-month T-bills · 17 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.
−77.8%
18 months · trough Jun 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.
0.77
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.

KPDD Cost

Expense ratio1.26%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

228 of the 329 Single-Stock Long Leveraged funds charge less.

KPDD costs $126.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.