KraneShares CSI China Internet ETF
KWEB ThematicUpdated: Jul 4, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| Alibaba Group Holding Ltd Ordinary Shares | 9988.HK | 9.46% | |
| Tencent Holdings Ltd | 0700.HK | 9.3% | |
| PDD Holdings Inc ADR | PDD | 7.66% | |
| NetEase Inc Ordinary Shares | 9999.HK | 7.02% | |
| Meituan Class B | 3690.HK | 6.8% | |
| Baidu Inc | 9888.HK | 5.49% | |
| KE Holdings Inc Class A | 2423.HK | 5.19% | |
| JD.com Inc Ordinary Shares - Class A | 9618.HK | 5.15% | |
| Full Truck Alliance Co Ltd ADR | YMM | 3.99% | |
| Trip.com Group Ltd | 9961.HK | 3.6% |
Sector Allocation
About This ETF
The KraneShares CSI China Internet ETF (KWEB) is a Thematic ETF with an expense ratio (TER) of 0.7% and $6.2B in assets under management., with its largest holdings being Alibaba Group Holding Ltd Ordinary Shares, Tencent Holdings Ltd, PDD Holdings Inc ADR. The ETF currently yields 7.85% in dividends. Year-to-date, KWEB has returned -29.86%.
The fund will invest at least 80% of its net assets in instruments in its underlying index or in instruments that have economic characteristics similar to those in the underlying index. The index is designed to measure the equity market performance of investable publicly traded "China-based companies" whose primary business or businesses are in the Internet and Internet-related sectors, and are listed outside of Mainland China, as determined by the index provider. The fund is non-diversified.
FAQ — KWEB
What is the TER of KWEB (KraneShares CSI China Internet ETF)?
KWEB has a Total Expense Ratio (TER) of 0.70 % per year. That sits above the thematic category median (0.68 % across 15 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has KWEB delivered?
Performance for KWEB: YTD: -29.86 % · 3-year p.a.: +0.36 % · 5-year p.a.: -14.81 %. Over 5 years, KWEB underperforms the thematic category median of +2.05 % by -16.86 pp. Past performance is no guarantee of future returns.
What are the top holdings of KWEB?
The five largest positions in KWEB are: 9988.HK, 0700.HK, PDD, 9999.HK, 3690.HK. The full holdings list is updated daily on this page.
Does KWEB pay dividends?
KWEB has a current dividend yield of 7.85 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for KWEB?
KWEB is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What is the KraneShares CSI China Internet ETF?
The KraneShares CSI China Internet ETF (KWEB) is a focused thematic bet on Chinese internet and platform companies listed outside the mainland. With around $6.3B in assets, it bundles heavyweights such as Tencent, Alibaba and PDD. It is explicitly not a diversified core holding but a highly concentrated trend play on digital consumption across China & Hong Kong – carrying outsized opportunity and outsized risk in equal measure.
Performance in context
The figures show the swings typical of a narrow theme. Year to date the fund stands at −25.18 %, the five-year return is −14.30 %, while the three-year figure is positive at +4.96 %. The price sits near its 52-week low of $26.23, well below the high of $43.37. The main drivers are Chinese regulatory policy, the macro cycle and sentiment toward Hong Kong-listed shares. The 7.42 % distribution yield reflects fallen prices and special factors rather than a stable dividend strategy.
Risk profile
KWEB is far more volatile than a broad index and can stay out of favour for years. Key risks:
- Concentration: communication services (39.97 %) and consumer cyclical (38.39 %) dominate; the top names carry a large share.
- Regulation & politics: Beijing’s interventions can hit individual business models abruptly.
- Currency risk: the fund trades in USD – euro-area investors also bear EUR/USD exchange-rate risk.
- Cost: at 0.70 % the expense ratio is higher than broad standard ETFs.
Deep drawdowns must be factored in explicitly.
Who is this ETF for?
KWEB suits experienced, risk-tolerant investors who want targeted exposure to a recovery in Chinese internet names and can stomach drawdowns of 50 % or more. A long horizon and a small satellite position within a broadly diversified portfolio make the most sense.
It is not suitable as a core holding, for safety-oriented savers, for short investment horizons, or for anyone seeking stable income or low volatility. Investors without a strong view on Chinese regulation and the macro cycle should avoid the concentration. This is general information, not investment advice.
How it compares to similar ETFs
Within the same theme, KWEB competes with other China technology and internet funds:
- Invesco China Technology ETF (CQQQ): broader Chinese technology exposure including hardware and semiconductors, not just internet.
- KraneShares CICC China 5G & Semiconductor ETF (KFVG): focused on connectivity and chips rather than platform companies.
- iShares MSCI China ETF (MCHI): far broader across all sectors of Chinese equities.
Of these, KWEB is the purest and most concentrated bet on Chinese internet platforms – and therefore potentially the most volatile.
Where can I buy KWEB?
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