KraneShares 2X Long PDD Daily ETF
KPDD
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- KraneShares 2x Long PDD Daily ETF (KPDD) is a leveraged 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 PDD Holdings Inc. (PDD), the parent company of the Temu e-commerce platform; it provides amplified exposure to PDD's stock performance through total return swaps on PDD Holdings, supplemented by cash holdings, and trades on the NASDAQ exchange with a total annual fund operating expense ratio of 1.27%. KPDD targets sophisticated investors seeking short-term bullish positions on PDD, a leading global e-commerce firm operating in over 19 countries with higher historical annual growth rates than Amazon; the fund's portfolio is concentrated solely on PDD exposure, magnifying both gains and losses due to leverage and daily resets, making it unsuitable for long-term holding or risk-averse investors. Launched on March 11, 2025, KPDD represents a key addition to KraneShares' Single-Stock Levered ETF Suite, introduced in March 2025 alongside the KraneShares 2x Long BABA Daily ETF (KBAB), marking the firm's expansion into single-stock leveraged products focused on high-growth Chinese ADRs. KraneShares, founded in 2012 and headquartered at 280 Park Avenue, 32nd Floor, New York, NY, manages a broad lineup of ETFs emphasizing China, climate, and alternative assets, including the flagship KraneShares CSI China Internet ETF (KWEB) where PDD and Alibaba are top holdings. The firm maintains additional offices in San Francisco and London, serving institutional and retail investors globally through innovative strategies like defined outcome ETFs and private company funds. Recent developments at KraneShares include the November 2025 launch of the Shariah-compliant KWIN ETF in partnership with Wahed, a listing of the KWEB strategy on the Hong Kong Stock Exchange with ICBC UBS International in December 2025, and a July 2025 global private company fund tracking an MSCI index of venture-backed firms.