KraneShares SSE STAR Market 50 Index ETF (KSTR) is an exchange-traded fund that seeks to track the performance of the Shanghai Stock Exchange Science and Technology Innovation Board 50 Index (STAR 50 Index), comprising the 50 largest companies listed on the SSE STAR Market by market capitalization and liquidity. The fund provides investors with exposure to innovative Chinese science and technology companies across sectors including semiconductors, next-generation information technology, biotechnology, new energy, and advanced manufacturing; top holdings include Cambricon Technologies Corporation Limited (10.33%), Hygon Information Technology Co., Ltd. (9.04%), Montage Technology Co., Ltd. (6.39%), Beijing Kingsoft Office Software, Inc. (4.22%), and Shanghai United Imaging Healthcare Co., Ltd. (3.73%). Launched on January 26, 2021, and listed on NYSE Arca, KSTR is managed by Krane Funds Advisors, LLC, a New York-based asset manager founded in 2011 and headquartered at 280 Park Avenue, with additional offices in San Francisco and London.
KSTR targets institutional and retail investors seeking thematic exposure to China's high-growth STAR Market, which since its 2019 inception has become a leading venue for technology IPOs and unicorns; the ETF maintains approximately 51 holdings with a total annual fund operating expense ratio of 0.89% and net assets of around $42 million. Geographically, it focuses exclusively on mainland China-listed A-shares via the STAR Market in Shanghai, serving global investors through U.S., European, and UCITS share classes including a London Stock Exchange listing launched in May 2021 in partnership with ICBCCS.
In recent developments, KSTR has benefited from strong performance in its semiconductor holdings amid China's AI push, with top holding Cambricon Technologies—dubbed "China's answer to Nvidia"—driving a 2025 rally as the company plans to triple AI chip production by 2026; KraneShares highlighted this exposure in October 2025 commentary. The issuer Krane Funds Advisors has pursued strategic expansions, including a December 2025 partnership with ICBC UBS International to list its flagship KWEB CSI China Internet ETF on the Hong Kong Stock Exchange in HKD, USD, and RMB counters, alongside ongoing 2025 estimated per-share distribution updates and market commentaries on China's tech bull market and 15th Five-Year Plan goals. No major acquisitions or funding rounds specific to KSTR were reported in the last 1-2 years, though the firm maintains a 2017 strategic alliance with China International Capital Corporation (CICC).