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KWIN

GradeANew York Stock Exchange Arca

KraneShares Wahed Alternative Income Index ETF

Option Income · KraneShares · Inception 2025-11-05

$25.91+0.01 (+0.06%)

As of Sep 23, 2026, 1:31 PM EDT

History starts Nov 5, 2025.History starts Nov 5, 2025.
Intraday session: up, 11 prints from 25.89 to 25.91. Range 25.81 to 25.91. Use the arrow keys to read each point.$25.80$25.84$25.8810 AM12 PM2 PM4 PM
Expense ratio
0.51%
Fund size
$62M
1Y return
—
Yield · Last 12 months
—
Volume · 30D
0M sh
NAV per share
$25.81
52W range
low $24.41high $27.11

The ETF.net KWIN Grade

A

87/ 100

Rank 1 of 72 in Single-Stock Option Income⁠

Confidence Low

Six-pillar profile for KWIN. Scores out of 100: Cost 100, Risk 85, Mission not scored, Tradability 70, Holdings 84, Durability 64. Strongest: Cost (100). Weakest: Durability (64). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 87 of 100 sits in the A 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.
    AScore 100
    Category rank1/72 · top 1%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 85
    Category rank6/65 · top 9%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 70
    Category rank7/72 · top 10%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 84
    Category rank1/9 · top 11%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank24/72 · top 33%

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

Our read on KWIN

ETF.net Research

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

  1. 010.51% 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.
  2. 02The 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
  3. 03Tracks 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
  4. 04On cost and measured risk it stands among the strongest implementations in a peer group of 64 single-stock option-income funds.

Worth knowing

  1. 01Launched in November 2025. The record is short, so any read on how the collars behave across different markets rests on limited history.
  2. 02Delta-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.
  3. 03Trades lightly next to the household names of the category, so spreads can be wider than headline size suggests. Limit orders matter more here.

KWIN Holdings

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
—
Top-10 weight
49%
Largest holding
TSLA6.1%

Geography

The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TSLATESLA INC6.06%10,300$4M509
002WDAYWORKDAY INC-CLASS A5.60%17,900$3M389
003SNPSSYNOPSYS INC5.34%8,600$3M376
004VRTXVERTEX PHARMACEUTICALS INC5.25%6,400$3M417
005SMCISUPER MICRO COMPUTER INC4.82%76,400$3M265
006COHRCOHERENT CORP4.82%9,400$3M341
007CRWDCROWDSTRIKE HOLDINGS INC - A4.53%11,800$3M454
008NOWSERVICENOW INC4.37%20,000$3M426
009CDNSCADENCE DESIGN SYS INC4.34%9,500$3M438
010BSXBOSTON SCIENTIFIC CORP4.17%59,600$3M321
011ADBEADOBE INC3.86%9,600$2M475
012CIENCIENA CORP3.77%6,700$2M384
013SNDKSANDISK CORP3.76%1,300$2M450
014AMDADVANCED MICRO DEVICES3.71%4,100$2M618
015AZOAUTOZONE INC3.69%800$2M281

Showing 1–15 of 62 holdings

KWIN Performance

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

KWIN$10,262
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. KWIN $10,262. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 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 KWIN. Periods over one year show the average yearly return.
PeriodKWIN
Year to date+2.6%
1 month+0.5%
3 months+1.2%
1 yearFund is under 1 year old—
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 KWIN
YearReturn barKWIN
2026 YTD+2.6%
2025+0.9%

Since listing, Nov 5, 2025

KWIN in the news

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

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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Nov 2025. No distributions yet.

KWIN Risk

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.

KWIN Cost

Expense ratio0.51%
  • The middle half of Single-Stock Option Income funds
  • Median 1.07%

No Single-Stock Option Income fund charges less.

KWIN costs $51.00 a year on $10,000. The median Single-Stock Option Income fund costs $107.00.