CGRO vs. KWEB ETF Comparison

Comparison of CoreValues Alpha Greater China Growth ETF (CGRO) to KraneShares CSI China Internet ETF (KWEB)

CGRO

CoreValues Alpha Greater China Growth ETF

CGRO Description

CGRO aims to benefit from high-growth sectors in Greater China without compromising American values and interests. The fund includes companies of all sizes located or primarily traded in mainland China, Taiwan, and Chinas special administrative regions, such as Hong Kong. The portfolio construction starts with top-down macro research, which utilizes publicly available data to identify sectors with the highest growth potential. The fund also conducts on-the-ground due diligence wherein it gains insights from 15 investment professionals located in China. Lastly, a fundamental bottom-up approach is used to analyze company-specific data such as financial reports and management expertise. The weight of each sector and company is determined by the sub-advisers assessment of its growth potential, which may change over time. The fund may invest in China A-shares, depositary receipts, and issuers listed on exchanges outside China.

Grade (RS Rating)

Last Trade

$22.44

Average Daily Volume

747

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KWEB

KraneShares CSI China Internet ETF

KWEB Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of a specific foreign equity securities benchmark. The fund will normally invest at least 80% of its total assets in equity securities of its current benchmark, the CSI Overseas China Internet Index or in depositary receipts representing securities of the underlying index. The underlying index is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$29.85

Average Daily Volume

30,869,670

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	CGRO	KWEB
30 Days	-6.43%	-7.30%
60 Days	11.80%	9.62%
90 Days	14.69%	13.15%
12 Months	10.13%	7.81%

8 Overlapping Holdings

Symbol	Grade	Weight in CGRO	Weight in KWEB	Overlap
BABA	D	3.58%	9.61%	3.58%
BEKE	D	4.55%	4.75%	4.55%
BIDU	F	2.08%	3.29%	2.08%
BILI	D	0.91%	3.66%	0.91%
PDD	F	9.47%	6.04%	6.04%
TCOM	B	7.4%	4.63%	4.63%
TME	D	2.54%	2.87%	2.54%
YMM	C	2.97%	3.6%	2.97%

CGRO Overweight 2 Positions Relative to KWEB

	Symbol	Grade	Weight
	LI	F	1.17%
	NTES	D	0.35%

CGRO Underweight 8 Positions Relative to KWEB

Symbol	Grade	Weight
VIPS	F	-3.38%
TAL	F	-2.9%
QFIN	B	-2.81%
BZ	F	-2.4%
ATHM	D	-1.17%
YY	C	-0.79%
WB	D	-0.48%
IQ	F	-0.42%