KEMX ETF — Holdings & Analysis

The KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) offers targeted exposure to emerging market equities, excluding China, with an AUM of $0.11 billion.

KEMX distinguishes itself by focusing on emerging markets outside of China, providing a unique diversification strategy. With an expense ratio of 0.59%, the fund seeks to replicate the performance of the MSCI Emerging Markets ex China Index, offering investors access to mid- and large-cap companies in emerging economies.

KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) ETF — Price, Holdings & Analysis

The KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) offers targeted exposure to emerging market equities, excluding China, with an AUM of $0.11 billion. KEMX distinguishes itself by focusing on emerging markets outside of China, providing a unique diversification strategy. With an expense ratio of 0.59%, the fund seeks to replicate the performance of the MSCI Emerging Markets ex China Index, offering investors access to mid- and large-cap companies in emerging economies.

ETF Overview

Under normal circumstances, the fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in instruments in its underlying index or in instruments that have economic characteristics similar to those in the underlying index. The underlying index is a free float-adjusted market capitalization weighted index designed to measure the equity market performance of mid- and large-cap companies of emerging market countries, excluding China.

KEMX aims to track the MSCI Emerging Markets ex China Index, providing investors with exposure to emerging market equities while specifically excluding China. This strategy is designed for investors seeking diversification within emerging markets, without the concentration of Chinese equities. The fund invests at least 80% of its assets in instruments within the index or similar economic characteristics. KEMX's top holdings include significant allocations to Taiwan Semiconductor Manufacturing Co Ltd (14.64%), Samsung Electronics Co Ltd (7.63%), and SK Hynix Inc (4.61%). Sector allocation is heavily weighted towards Technology (37.5%) and Financial Services (22.4%), reflecting the composition of the underlying index. The fund's country exposure is primarily in Taiwan (27.5%), South Korea (23.7%), and India (18.6%). KEMX is suitable for investors looking for targeted exposure to emerging markets outside of China, offering a distinct investment profile compared to broader emerging market ETFs.

Risk Metrics

KEMX carries several risks inherent to its investment strategy. The fund's concentration in specific sectors, particularly Technology (37.5%) and Financial Services (22.4%), exposes it to sector-specific risks. Country concentration is also a factor, with significant exposure to Taiwan (27.5%) and South Korea (23.7%), making it vulnerable to economic and political developments in those regions. The fund's beta of 1.04 indicates a slightly higher volatility compared to the broader market. With an expense ratio of 0.59%, the fund's cost can create a drag on performance, especially in periods of lower returns. Investors should also consider the risks associated with emerging markets, including currency fluctuations and political instability. Past performance does not guarantee future results.

Expense Ratio

0.59%

What does KEMX hold?

Holding	Weight
Taiwan Semiconductor Manufacturing Co Ltd (2330.TW)	14.64%
Samsung Electronics Co Ltd (005930.KS)	7.63%
SK Hynix Inc (000660.KS)	4.61%
MediaTek Inc (2454.TW)	1.38%
Reliance Industries Ltd (RELIANCE.NS)	1.15%
Delta Electronics Inc (2308.TW)	1.09%
HDFC Bank Ltd (HDFCBANK.NS)	1.09%
ICICI Bank Ltd (ICICIBANK.NS)	1.06%
Hon Hai Precision Industry Co Ltd (2317.TW)	1.05%
Vale SA (VALE3.SA)	0.95%

How Is the Fund Allocated?

Sector	Weight
Technology	37.5%
Financial Services	22.4%
Basic Materials	9.0%
Industrials	8.7%
Consumer Cyclical	6.2%
Energy	4.4%
Communication Services	3.4%
Consumer Defensive	3.0%
Utilities	2.1%
Healthcare	1.8%
Real Estate	1.5%

Country	Weight
Taiwan	27.5%
South Korea	23.7%
India	18.6%
Brazil	6.7%
South Africa	4.3%
Mexico	3.5%
Malaysia	2.1%
Poland	2.0%
Indonesia	1.6%
United Arab Emirates	1.6%

Dividend Yield

0.00%

State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio

KraneShares Artificial Intelligence & Technology ETF (AGIX) (Equity) — 0.99% expense ratio
Quadratic Deflation ETF (BNDD) (Equity) — 1.02% expense ratio
KraneShares European Carbon Allowance Strategy ETF (KEUA) (Equity) — 0.87% expense ratio
KraneShares Emerging Markets Consumer Technology ETF (KEM) (Equity) — 0.80% expense ratio
KraneShares Wahed Alternative Income Index ETF (KWIN) (Equity) — 0.51% expense ratio
KraneShares China Alpha Index ETF (KCAI) (Equity) — 0.79% expense ratio

Risk Metrics

Beta: 1.04

Questions & Answers

What is KEMX and what does it track?

The KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) is an exchange-traded fund designed to track the performance of the MSCI Emerging Markets ex China Index.

This index focuses on mid- and large-cap companies in emerging market countries, specifically excluding China.

What is the expense ratio for KEMX?

The expense ratio for KEMX is 0.59%. This means that for every $10,000 invested in the fund, $59 is used to cover the fund's operating expenses annually.

While this expense ratio impacts overall returns, it is a key consideration for investors. When evaluating KEMX, investors should compare its expense ratio to similar emerging market ETFs to assess its cost-effectiveness. Past performance does not guarantee future results.

What are the top holdings in KEMX?

As of 2026-03-15, the top holdings in KEMX include Taiwan Semiconductor Manufacturing Co Ltd (14.64%), Samsung Electronics Co Ltd (7.63%), and SK Hynix Inc (4.61%). These holdings reflect the fund's significant exposure to the technology sector within emerging markets.

Other notable holdings include MediaTek Inc (1.38%) and Reliance Industries Ltd (1.15%). The fund's top holdings are subject to change based on market conditions and index rebalancing.

Is KEMX a good long-term investment?

Whether KEMX is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and market outlook. KEMX offers targeted exposure to emerging markets excluding China, which can be attractive for diversification purposes.

The fund's performance will be influenced by the economic growth and political stability of the countries it invests in.

How does KEMX compare to similar ETFs?

KEMX distinguishes itself from other emerging market ETFs by excluding China from its investment universe. This provides a unique exposure profile compared to broad emerging market ETFs that include Chinese equities.

With an AUM of $0.11 billion, KEMX is smaller than some of the larger emerging market ETFs.

Does KEMX pay dividends?

As of 2026-03-15, KEMX has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders.

The dividend yield can vary over time depending on the dividend policies of the underlying companies in the index and the fund's distribution policy. Investors seeking income may want to consider other ETFs with a higher dividend yield.