KraneShares 2X Long BABA Daily ETF
KBAB
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- KraneShares 2X Long BABA Daily ETF (KBAB) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the US listings or American Depositary Receipts (ADRs) of Alibaba Group Holding Limited (NYSE: BABA). 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, total return swaps, and options that, in combination, provide leveraged exposure to 2 times the daily performance of BABA; it is non-diversified and focuses on a single stock within the consumer cyclical sector and emerging Asia region. Launched on March 11, 2025, and listed on NASDAQ, KBAB has a net expense ratio of 1.00% (with contractual fee waivers until August 1, 2026), annual distributions, and as of recent data holds approximately 200% exposure via swaps on Alibaba alongside cash offsets. KBAB forms part of the KraneShares Single-Stock Levered ETF Suite, managed by Krane Funds Advisors, LLC, a specialist in China-focused and alternative ETFs domiciled in the United States with headquarters at 280 Park Avenue, 32nd Floor, New York, NY 10017, and additional offices in San Francisco and London. The suite targets experienced investors seeking short-term, bullish leveraged exposure to key e-commerce players, including alongside the KraneShares 2X Long PDD Daily ETF (KPDD) for PDD Holdings; it emphasizes daily targets suitable for active monitoring amid volatility, with warnings on potential divergence from underlying performance over multi-day holds. KraneShares, founded in 2013, operates globally with a focus on uncorrelated assets like China equities and climate strategies. In March 2025, KraneShares launched the Single-Stock Levered ETF Suite, debuting KBAB and KPDD to provide 2x daily leveraged access to Alibaba and PDD Holdings ADRs, marking a strategic expansion into single-stock leveraged products amid interest in global e-commerce leaders. No subsequent major acquisitions, partnerships, funding rounds, or reorganizations for KBAB have been reported as of late 2025, with ongoing operations emphasizing risk disclosures for leveraged single-stock ETFs. The fund maintains a 30-day median bid/ask spread of 0.44% and serves sophisticated investors in public equity markets through derivatives.