KBDU – KraneShares 2x Long BIDU Daily ETF – ETF Investment Strategy | Morningstar

Morningstar

Strategy

The investment seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the ADR of Baidu Inc. (NASDAQ: BIDU). Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the Underlying Stock and financial instruments, such as swap agreements and options, that, in combination, provide investment exposure to 2 times (200%) the performance of the Underlying Stock. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
KBDU	KraneShares 2x Long BIDU Daily ETF	ETF	Open	—	—	Nov 18, 2025	$874,920.00	1.250%	—	—	—

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