KraneShares Dragon Capital Vietnam Growth Index ETF
KPHO
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- KraneShares Trust - KraneShares Dragon Capital Vietnam Growth Index ETF (Ticker: KPHO) is an exchange-traded fund that seeks to track the performance of the Dragon Capital Merqube Vietnam Growth Index, providing investors with targeted exposure to Vietnamese companies selected based on fundamental growth and value metrics, strong corporate governance, and alignment with Vietnam's key economic drivers; the index focuses on large-cap stocks listed on the Ho Chi Minh Stock Exchange (HOSE), incorporating liquidity and growth screens with weights determined by adjusted free-float market capitalization and constraints on individual holdings; for securities with foreign ownership limits, the index proxies exposure through the DCVFMVN Diamond ETF, alongside direct holdings in leading firms such as Saigon - Hanoi Commercial Joint Stock Bank (SHB), Hoa Phat Group JSC (HPG), Vietnam Prosperity Joint Stock Commercial Bank (VPB), Nam A Commercial Joint Stock Bank (NAB), Duc Giang Chemicals JSC (DGC), Bank for Foreign Trade JSC (VCB), Gemadept Corp (GMD), and Vietnam Export-Import Commercial Bank (EIB). KPHO operates within the emerging markets equity segment, targeting institutional and retail investors seeking diversification into Southeast Asia's high-growth economies, with a focus on Vietnam's export-led development, domestic consumption, and supply chain shifts; the fund maintains offices in New York, San Francisco, and London as part of KraneShares' global platform, while leveraging Vietnam-based sub-advisor Dragon Capital, the country's largest asset manager by assets under management with over 30 years of local expertise. Launched on December 4, 2025, and listed on the New York Stock Exchange, KPHO represents a recent strategic partnership between KraneShares and Dragon Capital to deliver U.S.-listed access to Vietnam's equity market amid the country's FTSE Russell upgrade to Emerging Market status effective September 2026 and potential MSCI reclassification, which could attract up to $25 billion in inflows; this inaugural Vietnam-focused ETF from KraneShares addresses foreign ownership barriers through its innovative structure, capitalizing on Vietnam's 7.5% GDP growth in the first half of 2025 and positioning the fund for inflows as global benchmarks evolve.