Gavekal Knowledge Leaders Developed World ETF

 
 

KLDW: $27.90
NAV as of February 17, 2017

Investment Objective: To provide investment results that, before fees and expenses, correspond generally to the total return performance of the Gavekal Knowledge Leaders Developed World Index.
A Knowledge Leaders Strategy: Gavekal’s strategy seeks to transform the Knowledge Effect into portfolio alpha. The Knowledge Effect is the tendency of highly innovative companies to experience excess returns.
How to Use the Fund: For core exposure to developed world equities.

Key Facts

(as of February 17, 2017)

Ticker:
Related index:
Asset class:
Morningstar Category:
Inception:
Expense ratio:
Net Assets:
Shares outstanding:
Number of holdings:
Primary exchange:
CUSIP:
Market Price (daily change):
Bid/Ask Midpoint:
Bid/Ask Premium/Discount:
KLDW
KNLG
Equity
World Stock
07/07/2015
0.75%
$62,770,770
2,250,001
340
NYSE Arca
30151E608
$27.97 | 0.00%
$27.97
$0.07 | 0.26%

Performance

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the Fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. For the fund’s most recent month end performance, please visit www.gavekalfunds.com/etf-developed.

The NAV is the ETF’s per share. The market price is the price that the ETF share currently trades in the secondary market.

Risk Metrics
(as of 1/31/2017 - Trailing Since Inception)

 
KLDW
MSCI World Index
 
Beta
0.80
1.00
Alpha (%)
2.85
0.00
Standard Deviation (%)
15.08
16.27
Sharpe Ratio
0.65
0.44
Treynor Ratio
7.77
4.12
Correlation (%)
86.00
100.00
Upside Capture (%)
82.48
100.00
Downside Capture (%)
78.84
100.00
Max Drawdown (%)
-13.42
-16.80
Active Share
83.58
0.00

Allocations
(as of 1/31/2017)

Allocations by Sector

Allocations by Region

Bellwether Companies
(as of 1/31/2017)

Bellwether Companies
% Weight in Portfolio
Anheuser-Busch InBev SA/NV
0.25
Apple Inc.
0.28
AT&T Inc.
0.22
Cisco Systems, Inc.
0.28
CSL Limited
0.36
Facebook, Inc. Class A
0.30
Intel Corporation
0.24
KDDI Corporation
0.20
Nippon Telegraph and Telephone Corporation
0.32
Novartis AG
0.30
Oracle Corporation
0.28
Roche Holding Ltd Genusssch.
0.24
Sanofi
0.28
Seven & I Holdings Co., Ltd.
0.29
Shin-Etsu Chemical Co Ltd
0.63
Siemens AG
0.41
Singapore Telecommunications Limited
0.36
Unilever PLC
0.31

  View Portfolio Holdings

Fund Materials & Commentary

A complete guide to this ETFdownload

Everything you need to know to investdownload

Quarterly performance & commentary
download


Gavekal ETF Tool Kit

On Nov. 30, Morningstar will merge open-ended mutual funds and ETFs into the same peer group, finally leveling the playing field for mutual funds and ETFs. We believe this shift is significant and merits deeper analysis. To that end, we’re pleased to share a 5-part series of reports aimed at equipping financial advisors with the tools they need to carry out their fiduciary responsibility amid a new fund rating paradigm. This analysis by our investment team includes the following reports:

Part  1:  Why Morningstar is moving to merge ETFs and mutual funds into the same peer group and a preview of how this will change the landscape for financial advisors

Part 2:  An in-depth analysis of how this move will reveal that in some cases an ETF may better suit clients’ best interests than a mutual fund

Part 3:   How ETFs and tax analysis may help stack the deck in your client’s favor

Part 4:   How to trade ETFs optimally for your clients, including everything you need to know about trading and liquidity

Part 5:   A new paradigm: a financial advisors guide on how to compare ETFs and mutual funds to optimize performance outcomes

This series is available to financial professionals only.
Please email investmentteam@gavekal-usa.com.

Investment Strategy

keimagessemi-1

The Gavekal Knowledge Leaders Developed World ETF is a Knowledge Leaders investment product. The Knowledge Leaders Strategy seeks to transform the Knowledge Effect into portfolio alpha. 

Read about the foundations of our strategy and download research at www.gavekalcapital.com.

News
August 16, 2016

An Outperforming Developed Markets ETF

PDFAugust 15, 2016

Gavekal Knowledge Leaders Developed World ETF Outperforms in First Full Year

 

July 13, 2015

Gavekal Capital Launches Gavekal Knowledge Leaders ETFs

PDFJuly 13, 2015

Gavekal Capital Launches Gavekal Knowledge Leaders ETFs

 

July 13, 2015

Accounting for the Knowledge Effect in a new Developed Markets ETF

 

July 9, 2015

Pair of ETFs to Play the Accounting Quirks of Innovation

Investor Resources

PDF Prospectus
PDF SAI
PDF Semi-Annual Report
PDF Annual Report

XBRL – June 2015

For more information about XBRL (eXtensible Business Reporting Language) and a free XBRL reader, click here.

Definitions

 
Please consider the Fund’s investment objectives, risks, charges and expenses before investing. The prospectus or summary prospectus that contains this and other information about the Funds is available by calling 844-GAVEKAL and should be read carefully.

Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate. Currency Risk is the risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets. The Fund’s return may not match or achieve a high degree of correlation with the return of the Index.

The bellwether companies list is comprised of the top six companies within each region that have the highest market capitalization.

Holdings are subject to change.

The Gavekal ETFs are distributed by Foreside Fund Services, LLC.

Shares of the Funds may be sold throughout the day on the exchange through any brokerage account. However, shares are not individually redeemable, and may only be redeemed directly from the Fund by Authorized Participants, in very large creation/redemption units. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained. Shares may trade above or below NAV.

*  Gavekal Knowledge Leaders Developed World ETF (KLDW) was awarded the 2016 I-Invest Most Innovative International Equity ETF & the I-Invest ETF Alpha Generator Award. Award methodology: Voting forms were sent out to 151,000 subscribers and over 5,000 industry experts, allowing I-Invest to accept third party, peer, public and self-nominations. Winners were determined by three factors: 1) by the number of votes received; 2) using our own in-house research; and 3) by the supporting evidence received. Past performance is no guarantee of future results.

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