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KraneShares 2X Long PDD Daily ETF

KPDDNasdaqCThis 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.

$4.99+0.13 (+2.70%)

At close: Oct 13, 2026, 4:00 PM

C48/ 100

Rank 89 of 380 in Single-Stock Long Leveraged

C48/100Rank 89 of 380inSingle-Stock Long Leveraged
Intraday session: up, 52 prints from 4.86 to 4.99. Range 4.87 to 5.20. Use the arrow keys to read each point.4.905.105.2010 AM12 PM2 PM4 PM
Expense ratio
1.26%
Fund size
$16M
1Y total return
−66.8%
Yield · Last 12 months
Data unavailable
Holdings
2
Avg volume · 30D
0.3M sh
NAV per share
$4.92
52W range
low $4.10high $29.15
Launched

The ETF.net KPDD Grade

Based on 5 of 6 pillars

C

Score 48 out of 100

Category
Single-Stock Long Leveraged⁠
Rank
89 of 380
Six-pillar profile for KPDD. Scores out of 100: Cost 39, Risk 41, Mission 90, Tradability 67, Holdings not scored, Durability 67. Strongest: Mission (90). Weakest: Cost (39). Based on 5 of 6 pillars.

Score 48 of 100 falls in the C 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.
    D39 out of 100
    Rank 230 of 380

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A90 out of 100
    Rank 86 of 148

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C41 out of 100
    Rank 228 of 363

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B67 out of 100
    Rank 94 of 380

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B67 out of 100
    Rank 78 of 380

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 Oct 13, 2026
Asset class
Stocks
Holdings
2
Top-10 weight
100%
Largest holding
Pdd Holdings Inc66.7%

Sectors

  • Consumer Discretionary100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Pdd Holdings Inc66.67%378,643$30M1
002—Cash33.33%-14,437,741$15M112

Showing 1–2 of 2 holdings

KPDD Performance

Launched Mar 11, 2025

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.
KPDD$3,316
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. KPDD $3,316. SPY $12,044. Use the arrow keys to read each point.$2,149$7,564$12,979Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for KPDD. Periods over one year show the average yearly return.
PeriodKPDD
Year to date−57.7%
1 month+6.2%
3 months−14.2%
1 year−66.8%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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−57.7%
2025−26.6%

History from Mar 12, 2025

KPDD in the news

Filtered to KPDD · Single-Stock Long Leveraged

KPDD Dividends

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.
62.9%
Annualised · 18 months to Sep 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.
−1.02
vs 3-month T-bills · 18 months to Sep 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.
−77.9%
19 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.
0.77
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%

232 of the 333 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.

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