Gavekal Knowledge Leaders Emerging Markets ETF

KLEM: $23.47
NAV as of February 10, 2017

 Gavekal Capital Announces Closure of Gavekal Knowledge Leaders Emerging Markets ETF

Investment Objective: To provide investment results that, before fees and expenses, correspond generally to the total return performance of the Gavekal Knowledge Leaders Emerging Markets 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 diversified emerging markets equities.

Key Facts

(as of February 10, 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:
KLEM 
KNLGE 
Equity 
Diversified Emerging Markets 
07/07/2015 
0.95% 
$4,694,318 
200,000 

NYSE Arca 
30151E509 
$22.75 | +0.12
$22.78
$-0.69 | -2.94%

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-emerging.

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)

KLEM
MSCI EM Index
Beta
0.81
1.00
Alpha (%)
-3.91
0.00
Standard Deviation (%)
18.50
21.06
Sharpe Ratio
-0.18
0.14
Treynor Ratio
-4.18
0.50
Correlation (%)
93.00
100.00
Upside Capture (%)
77.58
100.00
Downside Capture (%)
81.23
100.00
Max Drawdown (%)
-19.56
-26.21
Active Share
89.25
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
Ambev SA Sponsored ADR
0.93
Arca Continental SAB de CV
0.99
Aspen Pharmacare Holdings Limited
0.75
BRF SA Sponsored ADR
0.49
China Mobile Limited
0.49
Chunghwa Telecom Co., Ltd Sponsored ADR
0.82
Coca-Cola FEMSA SAB de CV Class L
0.92
Grupo Bimbo SAB de CV Class A
0.79
Hyundai Motor Company
0.79
Mondi Limited
0.72
Samsung Electronics Co., Ltd.
0.74
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR
1.07
Tencent Holdings Ltd.
0.91
Tiger Brands Limited
0.97
TIM Participacoes S.A.
0.72
Vodacom Group Limited
0.69
Woolworths Holdings Limited
0.55
Yandex NV Class A
0.86

 View Portfolio Holdings

Fund Materials & Commentary

A complete guide to this ETFdownload

Everything you need to know to investdownload

Quarterly performance and commentary
download

Investment Strategy

keimagessemi-1

The Gavekal Knowledge Leaders Emerging Markets 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
December 21, 2015

How to Invest in the Emerging Markets’ Strongest Growth Trend: The Consumer

August 14, 2015

Getting Smart About Emerging Markets ETFs

 

July 9, 2015

Pair of ETFs to Play the Accounting Quirks of Innovation

 

July 13, 2015

Knowledge Leadership in a new Emerging Markets ETF

July 13, 2015

Gavekal Capital Launches Gavekal Knowledge Leaders ETFs

PDFJuly 13, 2015

Gavekal Capital Launches Gavekal Knowledge Leaders ETFs

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.

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