Rankings / KLIP
KraneShares China Internet & Covered Call ETF
6.7
Overall Score
KLIP buys shares of KWEB, the KraneShares CSI China Internet ETF, and sells FLEX call options on KWEB, which appears to cover the whole position. The listed calls expire monthly with strikes close to the current price. Krane Funds Advisors manages it actively and it pays monthly. KWEB is its benchmark and its only equity holding.
The fund buys shares of the KraneShares CSI China Internet ETF (KWEB) and writes covered call options on KWEB. The premium collected from option sales is distributed monthly. Because calls are written on KWEB, the fund forgoes upside above the strike. Since inception, down-capture has been lower than up-capture on a monthly basis, though the strategy does not eliminate market declines. The fund is concentrated in Chinese internet companies, which carry additional regulatory and geopolitical risks.
Halved KWEB's drawdown (-18.4% vs -38.2%) and beat it by 35 points since 2023, but distributions fell 33% in a year and the fund lost 12.8% in 2026.
Cumulative total return of KLIP against KWEB, distributions reinvested.
Cumulative total return, rebased to 0% at the start of each period. Distributions reinvested. Data through end of previous month.
Calendar-year total return, distributions reinvested.
| Year | KLIP | KWEB |
|---|---|---|
| 2026 YTD | -12.76% | -28.02% |
| 2025 | +16.95% | +23.47% |
| 2024 | +3.41% | +11.94% |
| 2023 | +10.08% | -9.03% |
Historical years are frozen. YTD is refreshed monthly.
Composite score from six weighted criteria, measured since inception.
Performance since inception against the benchmark.
How much of the benchmark drawdown the fund absorbed.
How much of the benchmark rally the fund kept.
Frequency of distribution cuts below 85% of the previous payment.
Inversely proportional to the annual management fee.
Assets under management on a log scale.
Sector and geographic composition of KLIP underlying holdings.
| # | Symbol | Name | Weight |
|---|---|---|---|
| 1 | KWEB | KraneShares CSI China Internet ETF | 101.20% |
Holdings data from fund disclosures, updated periodically. Percentages may not sum to 100% due to cash, options, and other positions not shown.
The same six criteria, applied to different trailing periods. Pro subscribers see the full breakdown.
Since inception
6.7
3 years
8.0
1 year
7.4
3 months
6.5
How has KLIP ranked across inception, 3 years, 1 year, and 3 months? Pro subscribers can compare a fund's trajectory over every window, across all 28 funds.
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Expense Ratio
0.950%
Inception Date
January 11, 2023
Benchmark
KWEB
Category
Covered Call - China Internet
Distribution Frequency
Monthly
Maturity Rating
2/5 stars
Scores calculated using CoveredRank methodology. Every formula is published and reproducible.
See full methodology→Disclaimer: CoveredRank provides independent educational content only. This is not financial advice. Please consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results.