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Launched

KraneShares Wahed Alternative Income Index ETF

KWINNYSE ArcaKraneSharesA

$25.92+0.01 (+0.04%)

At close: Nov 2, 2026, 4:00 PM ET

A87/ 100

Rank 1 of 72 in Single-Stock Option Income

A87/100Rank 1 of 72inSingle-Stock Option Income
Intraday session: up, 63 prints from 25.91 to 25.92. Range 25.87 to 25.97. Use the arrow keys to read each point.25.8825.9425.9610 AM12 PM2 PM4 PM
Expense ratio
0.51%
Fund size
$63M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
55
Avg volume · 30D
14K sh
52W range
low $24.41high $27.11
Launched

The ETF.net KWIN Grade

Based on 5 of 6 pillars

A

Score 87 out of 100

Category
Single-Stock Option Income⁠
Rank
1 of 72
Six-pillar profile for KWIN. Scores out of 100: Cost 100, Risk 86, Mission not scored, Tradability 70, Holdings 89, Durability 68. Strongest: Cost (100). Weakest: Durability (68). Based on 5 of 6 pillars.

Score 87 of 100 falls in the A 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.
    A100 out of 100
    Rank 1 of 72

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A86 out of 100
    Rank 5 of 70

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A70 out of 100
    Rank 6 of 72

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A89 out of 100
    Rank 1 of 11

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 20 of 72

Our read on KWIN

ETF.net Research

In short

AAn income fund built for investors who can't own interest. KWIN holds stocks, then sells calls and buys puts on each one, aiming for a delta-neutral book whose payout comes from options premium instead of a coupon.

Stated mandate

KWIN seeks alternative option income by holding long positions in selected equities while selling calls and buying puts against each position. The strategy is intended to produce a delta-neutral portfolio and is marketed as an alternative to traditional interest income.

Why people hold it

  • 0.51% a year, less than half the roughly 1.07% median of its options-income cohort. In a category where 1%-plus is the norm, that is a real head start.
  • The mechanics are unusually explicit: long a selected stock, short a call, long a put, position by position. The collars are the strategy, not a bolt-on overlay.kraneshares.com
  • Tracks the Wahed Shariah Alternative Income Index, so income is sourced from options premium rather than interest. Few option-income ETFs are built to that screen.kraneshares.com
  • On cost and measured risk it stands among the strongest implementations in a peer group of 64 single-stock option-income funds.

Worth knowing

  • Launched in November 2025. The record is short, so any read on how the collars behave across different markets rests on limited history.
  • Delta-neutral by design: the sold calls and bought puts are there to strip out the stock move, not to ride it. This is an income engine, not an equity growth sleeve.
  • Trades lightly next to the household names of the category, so spreads can be wider than headline size suggests. Limit orders matter more here.

KWIN Performance

Launched Nov 5, 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.Not enough history yet.
KWIN$10,273
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,115
Dec 31, 2025 to Nov 2, 2026. KWIN $10,273. SPY $11,115. Use the arrow keys to read each point.$10,000$11,000Dec 2025Jun 2026Nov 2026

Dec 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 KWIN. Periods over one year show the average yearly return.
PeriodKWIN
Year to date+2.7%
1 month+0.2%
3 months+0.7%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 KWIN
YearReturn barKWIN
2026 YTD+2.7%
2025+0.9%

Since listing, Nov 5, 2025

KWIN in the news

KWIN 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 Nov 2, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Nov 2025. No distributions yet.

KWIN Risk

Risk pillarA86 out of 100Rank 5 of 70 in Single-Stock Option Income
How much the fund’s monthly returns vary, scaled to a year.
Launched Nov 2025; fills in after 12 months
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.
Launched Nov 2025; fills in after 12 months
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.
Launched Nov 2025; fills in after 12 months
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.
0.001
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.

FMP measures it over up to five years of monthly returns.

KWIN Cost

Cheapest in Single-Stock Option Income

$10,165

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • KWIN 0.51%

    $10,165

$10,000
30 years

Cost over time

  • KWIN 0.51%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530KWIN $10,165

Year by year

YearKWIN
10$918
20$3,527
30$10,165

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