KraneShares 2X Long BIDU Daily ETF
KBDU
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- KraneShares 2x Long BIDU Daily ETF (KBDU) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the American Depositary Receipt (ADR) of Baidu Inc. (NASDAQ: BIDU). The fund achieves this leveraged exposure through direct investments in the underlying stock and financial instruments, including total return swaps and options; under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in these instruments to provide 2x the daily performance of BIDU. KBDU is a non-diversified, single-stock leveraged ETF designed as a short-term tactical tool for bullish bets on Baidu's ADR price movements, with an expense ratio of 1.26% and annual distributions. Launched on November 19, 2025, and listed on NASDAQ, KBDU represents the latest expansion of KraneShares' Single-Stock Levered ETF Suite, following the firm's strategy to offer targeted leveraged exposure to prominent global consumer internet and technology companies. This launch builds on KraneShares' focus on innovative ETFs in China, climate, and alternatives sectors, enabling investors to capitalize on growth trends such as AI, cloud computing, and autonomous vehicles mirrored in Baidu's operations as China's leading search engine, Apollo Go robotaxi fleet, and Ernie Bot large language model. The ETF targets sophisticated investors aware of the amplified risks from leverage, volatility decay, and single-stock concentration, where returns may diverge significantly from BIDU over periods longer than one day. Krane Funds Advisors, LLC, the adviser to KBDU and operator of the KraneShares ETF platform, is headquartered in New York, NY, with additional offices in San Francisco, CA, and London, UK; founded in 2013, the firm serves institutional and financial professional clients globally with high-conviction strategies as a signatory to the UN Principles for Responsible Investment. KBDU's holdings primarily consist of total return swaps on Baidu Inc. and cash equivalents, traded under CUSIP 500767314 and ISIN US5007673149. The fund operates in the leveraged equity segment, focusing on U.S.-listed ADRs of international technology firms for short-term trading by active market participants.