At a glance
KEMQ charges 0.49% a year, above the 0.24% average of the 6 funds most like it (the 6th cheapest of 7). It has $38.5M in assets, the 7th largest of that group; it paid 5.63% of its price in distributions over the past 12 months, annual. Over the past year it returned −10.3% with distributions reinvested (S&P 500: +11.5%), the weakest of those 7 funds; over three years it returned +22.8% a year. At its worst it fell 30.7% in the 2020 crash (S&P 500: 33.7%) and 46.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 34 months after the lows. Its ten largest positions make up 36.2% of the fund, out of 53 in all.
The short version
KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has been renamed the KraneShares Public-Private Emerging Markets Internet and Technology ETF. It is an actively managed fund that holds about 50 internet and chip stocks from Hong Kong, Taiwan, India, South Korea and elsewhere, and it aims to put about 10% into private companies. After a fee waiver it charges 0.49% a year. That is about double the 0.24% average of broad emerging-market funds.
Price history
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KEMQ -10.3% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| KEMQ official prospectus, to Dec 31, 2025 | — | +55.15% | — | -4.15% | — | +1.17% |
| MSCI Emerging Markets Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +33.57% | — | +4.20% | — | +5.29% |
| Solactive Emerging Markets Consumer Technology Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +55.06% | — | -3.55% | — | +2.04% |
| KEMQ price data to Oct 27, 2026 | -6.4% | -10.3% | +22.8% | -2.7% | — | +0.2% |
- Over the year to Oct 27, 2026, KEMQ returned -10.3%, 7th of 7 among similar funds.
- Its 5-year annualized return was -2.7%.
- In the 2020 COVID crash it fell 30.7% and regained its old high 2.6 months after the low.
- Its worst full calendar year was 2022 (-38.1%); its best was 2025 (+56.2%).
- The deepest fall in its price history was 70.7% (Feb 16, 2021 to Oct 24, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -6.4% | — |
| 2025 | +56.2% | +55.15% |
| 2024 | +13.8% | +13.98% |
| 2023 | +0.8% | +0.97% |
| 2022 | -38.1% | -37.95% |
| 2021 | -27.3% | -26.99% |
| 2020 | +39.2% | +39.13% |
| 2019 | +28.2% | +27.69% |
| 2018 | -25.5% | -24.79% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 30.7% over that stretch · deepest drop along the way 30.7%, back to its old high 2.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 46.4% over that stretch · deepest drop along the way 46.4%, back to its old high 34.2 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $1.3000 | +983.3% |
| 2024 | $0.1200 | +200.0% |
| 2023 | $0.0400 | -42.9% |
| 2021 | $0.0700 | -90.5% |
| 2020 | $0.7400 | +76.2% |
| 2019 | $0.4200 |
What's inside
As of Jun 30, 2026, the fund held 53 securities; the ten largest made up 36.21% of assets.
| Holding | Weight | |
|---|---|---|
| United Microelectronics Corporation | 4.44% | |
| SEA LIMITED | 3.91% | |
| SK hynix Inc. | 3.91% | |
| Hua Hong Grace Semiconductor Limited | 3.85% | |
| MercadoLibre, Inc. | 3.58% | |
| Taiwan Semiconductor Manufacturing Company Limited | 3.54% | |
| NETEASE, INC. | 3.47% | |
| Vanguard International Semiconductor Corporation | 3.29% | |
| PDD Holdings Inc. | 3.11% | |
| NANYA TECHNOLOGY CORPORATION | 3.10% | |
| Tencent Holdings Limited | 3.09% | |
| MEITUAN | 2.89% | |
| Meesho Ltd | 2.82% | |
| Alibaba Group Holding Limited | 2.74% | |
| Powerchip Semiconductor Manufacturing Corporation | 2.73% |
By country
Hong Kong 32.4%Taiwan 23.44%United States 15.62%India 9.68%South Korea 9.24%By asset type
Stocks 98.69%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $15.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.66%, +7.18%, +9.90%.
How it works
Krane Funds Advisors, LLC manages the fund actively, and its goal is growth of capital. At least 80% of net assets go into public or private internet and technology companies in emerging markets. For listed stocks, the fund uses the Solactive Emerging Markets Internet and Technology Index. It expects to hold every stock in that index, but it may instead hold a representative sample, meaning a smaller group of stocks chosen to behave like the index.
To qualify, a company must earn most of its revenue in one of the emerging markets the index lists, such as China, Taiwan, India, South Korea or Brazil. It must also be in a named industry, from software, games and online retail to food delivery, chip foundries and memory chips. Stocks whose main listing is in Shanghai or Shenzhen are excluded. The index takes the 50 largest companies by market value. Each quarter it resets their weights by rank: 3.5% each for ranks 1 to 10, 2.5% for ranks 11 to 30 and 0.75% for ranks 31 to 50. This keeps any one giant from dominating.
About 10% of net assets, measured at purchase, is meant for private companies that resemble index members, such as firms preparing for an initial public offering. The fund may hold these directly or through special purpose vehicles. Private holdings are harder to value and sell than listed shares. The fund may also use swaps, futures and currency forwards. Portfolio turnover was 72%.
What it really costs
- KEMQ charges 0.49% a year, versus an average of 0.24% for the similar funds below (6th of 7, cheapest first).
- Of that, 0.78% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.3% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $920 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| KEMQ | $50 | $191 | $378 | $920 |
In a retirement portfolio
It is a narrow, volatile bet on emerging-market internet and chip stocks, with a one-year beta of 1.56 (it moved about 1.56 times as much as the market), so it fits as a small add-on rather than a core holding.
KEMQ adds focused exposure to emerging-market internet and chip stocks, but its swings are large. In the 2020 COVID crash it fell 30.7% and recovered within 2.6 months. In the 2022 bear market it dropped 46.4% and needed 34.2 months to recover, until August 18, 2025. Its worst calendar year was 2022, when it lost 38.1%. Its deepest fall was 70.7%, from February 2021 to October 2022, and it had not fully recovered from that as of October 27, 2026. The fund launched in 2017, so it has no 2008 record. Anyone forced to sell in a slump could lock in deep losses.
Its trailing 12-month yield was 5.63% as of October 27, 2026. It pays once a year, and the amount may vary widely. In the SEC's standard example, $10,000 invested costs $50 in the first year and $920 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, concentrated stake in emerging-market internet and chip companies such as TSMC, SK hynix, Tencent and MercadoLibre.
- Owners of a broad emerging-markets fund who want extra tech exposure. No similar fund shares more than 16% of its holdings.
- Long-term holders who could sit through a fall like the 70.7% drop from 2021 to 2022 without needing to sell.
Look elsewhere if
- Cost-focused investors: VWO charges 0.07% and IEMG 0.09%, against this fund's 0.49% after a fee waiver.
- Anyone who needs steady income or a smooth ride. It pays once a year, and its one-year volatility was 27.2% with a beta of 1.56.
- Investors wary of private holdings or small funds. Net assets were about $38.5 million on June 30, 2026, after about $15.6 million of net outflows over three months.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| KEMQ this fund | — | 0.49% | $38.5M | -10.3% | +22.8% |
| EEM iShares MSCI Emerging Markets ETF | 16% | 0.72% | $31.21B | +12.7% | +20.3% |
| IEMG iShares Core MSCI Emerging Markets ETF | 15% | 0.09% | $160.90B | +11.7% | +19.8% |
| SCHE Schwab Emerging Markets Equity ETF | 14% | 0.11% | $13.00B | +4.4% | +16.7% |
| VWO Vanguard FTSE Emerging Markets ETF | 13% | 0.07% | $162.04B | +3.3% | +16.8% |
| DFEM Dimensional Emerging Markets Core Equity 2 … | 12% | 0.39% | $8.96B | +14.6% | +21.4% |
| SPEM SPDR Portfolio Emerging Markets ETF | 11% | 0.07% | $17.31B | +5.0% | +16.8% |
Questions investors ask
Is KEMQ good for retirement?
It may suit a small, higher-risk part of a retirement portfolio rather than the core. KEMQ lost 46.4% in the 2022 bear market and took 34.2 months to recover. Its 70.7% drop from February 2021 to October 2022 had not been fully regained as of October 27, 2026. Its 0.49% expense ratio is also about double the 0.24% average of broad emerging-market funds.
What's the difference between KEMQ and EEM?
EEM, the iShares MSCI Emerging Markets ETF, is a broad emerging-markets fund. KEMQ holds about 50 internet and technology stocks and plans a private-company slice. Only 16% of their holdings overlap. EEM is much larger and charges 0.72%, against KEMQ's 0.49%. Over one year, EEM returned 12.3% through October 30, 2026, while KEMQ lost 10.3% through October 27, 2026. Over three years, KEMQ averaged 22.8% a year and EEM 21.1%.
Does KEMQ pay dividends?
Yes, KEMQ pays a distribution once a year. Over the trailing 12 months it paid $1.30 per share, a yield of 5.63% as of October 27, 2026. The fund's stated goal is growth of capital, not income, and it pays only once a year. That means the amount can change sharply from one year to the next, and the 5.63% figure may not repeat.
Did KEMQ change its name?
Yes. Its prospectus filed July 29, 2026 calls it the KraneShares Public-Private Emerging Markets Internet and Technology ETF, formerly the KraneShares Emerging Markets Consumer Technology Index ETF. It is actively managed and uses the Solactive Emerging Markets Internet and Technology Index to choose its listed stocks. It also aims to put about 10% of net assets into private companies, which are harder to value and sell than listed shares.
What are KEMQ's top holdings?
As of June 30, 2026, the largest holdings were United Microelectronics (4.4%), Sea Limited (3.9%), SK hynix (3.9%), Hua Hong Grace Semiconductor (3.9%), MercadoLibre (3.6%), Taiwan Semiconductor Manufacturing (3.5%) and NetEase (3.5%). The top 10 made up 36.2% of the fund, spread across 53 holdings. By country, Hong Kong led at 32.4%, followed by Taiwan at 23.4% and the United States at 15.6%.