KDFI — KFA Dynamic Fixed Income ETF

KDFI Fund Overview

KDFI — KFA Dynamic Fixed Income ETF is a US ETF managed by Krane Shares Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Krane Shares Trust
• Category: Money Market
• Assets under management: $20.27M
• 1-year return: 7.0%
• Ticker: KDFI
• SEC CIK: 0001547576
• SEC series ID: S000067123
• Share class ID: C000215933

KDFI Investment Objective and Strategy

KFA Dynamic Fixed Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Krane Shares Trust.

Investment objective

The KFA Dynamic Fixed Income ETF (the Fund) seeks to provide investment results that, before fees and expenses, track the price and yield performance of a specific fixed income securities index. The Funds current index is the FTSE US High-Yield Treasury Rotation Index (the Underlying Index).

Principal investment strategy

Under normal circumstances, the Fund will invest at least 80% of its total assets in components of the Underlying Index, to-be-announced transactions representing such components, and investment companies that seek to track the performance of a subset of the Underlying Index or of an index that is correlated to one of the three sub-indexes, or instruments that have economic characteristics similar to securities included in the Underlying Index. As of each monthly reconstitution, the Underlying Index will be fully exposed to one of the three following sub-indexes: ? FTSE US Treasury 1-5 Years Index , which includes fixed-rate U.S. Treasury bonds with remaining maturities of 1 to 5 years that have a minimum issue size of $5 billion; ? FTSE US Treasury 7-10 Years Index, which includes fixed-rate U.S.

Treasury bonds with remaining maturities of 7 to 10 years that have a minimum issue size of $5 billion; and ? FTSE US High-Yield Market BB/B-Rated Capped Custom Index, which includes high-yield debt (commonly referred to as junk bonds) securities with remaining maturities of at least one year, have a rating from BB+ by S&P Global (S&P) or Ba1 by Moodys Investors Service, Inc. (Moodys) to B- by S&P or B3 by Moodys and a minimum issue size of $500 million. The Underlying Index will be exposed to the sub-index with the highest prior three-month returns as of the time of the monthly reconstitution, accordingly, at times, the Underlying Index may be invested only in the FTSE High-Yield Market BB/B-Rated Capped Custom Index. Underlying Index components are weighted according to the market capitalization, except that the securities of any particular issuer of the FTSE High-Yield Market BB/B-Rated Capped Custom Index will be capped at 2% as of each rebalance of the Underlying Index.

The securities eligible for inclusion in the Underlying Index include U.S. Treasuries, traditional bonds that make principal and interest payments in cash, zero-coupon bonds (debt securities that do not pay interest, rather they are issued and trade at a discount and offer full face value at maturity), pay-in-kind (PIK) securities (debt securities that pay interest in additional bonds rather than in cash during an initial period), step-up bonds (debt securities that pay an initial interest rate but also have a feature where set rate increases happen at periodic intervals), and Rule 144A bonds (debt securities that are privately issued) issued by corporations domiciled in the United States or Canada. The Fund may invest up to 20% of its assets in instruments that are not included in the Underlying Index, but that the Funds subadviser, SkyRock Investment Management, LLC (SkyRock) believes will help the Fund track its Underlying Index.

These instruments include debt securities not included in the Underlying Index, derivatives (including swaps, forwards, futures, structured notes and options), equity securities and cash and cash equivalents. In addition, the Fund may invest in shares of investment companies, such as exchange traded funds (ETFs), unit investment trusts and closed-end investment companies, including to gain exposure to component securities of the Funds Underlying Index or when such investments present a more cost efficient alternative to investing directly in the securities. The Fund may also invest in U.S. money market funds or other U.S. cash equivalents. The other investment companies in which the Fund may invest may be advised, sponsored or otherwise serviced by Krane, SkyRock and/or their affiliates. The Fund will not purchase shares of an investment company if it would cause the Fund to (i) own more than 3% of such investment companys voting shares; (ii) invest more than 5% of its total assets in such investment company; or (iii) invest more than 10% of its total assets in investment companies.

Although the Fund reserves the right to replicate (or hold all components of) the Underlying Index, the Fund expects to use representative sampling to track the Underlying Index. Representative sampling is a strategy that involves investing in a representative sample of securities that collectively have an investment profile similar to the Underlying Index. As of March 31, 2021, the FTSE US Treasury 1-5 Years Index included 146 issues. As of March 31, 2021, the credit ratings for the rated components in the FTSE US Treasury 1-5 Years Index ranged from AA+ to AA+, as determined by S&P or Moodys. The FTSE US Treasury 1-5 Years Index is rebalanced monthly. As of March 31, 2021, the FTSE US Treasury 7-10 Years Index included 18 issues. As of March 31, 2021 the credit ratings for the rated components in the FTSE US Treasury 7-10 Years Index ranged from AA+ to AA+, as determined by S&P or Moodys.

The FTSE US Treasury 7-10 Years Index is rebalanced monthly. As of March 31, 2021, the FTSE US High-Yield Market BB/B-Rated Capped Custom Index included 1040 issues. As of March 31, 2021, the credit ratings for the rated components in the FTSE US High-Yield Market BB/B-Rated Capped Custom Index ranged from BB+ to B-, as determined by S&P or Moodys. The FTSE US High-Yield Market BB/B-Rated Capped Custom Index is rebalanced monthly. The Fund is non-diversified. The Underlying Index is provided by FTSE Russell (Index Provider). FTSE Russell is a trading name of FTSE International Limited and Frank Russell Company and their respective subsidiary undertakings. The Fund may engage in securities lending.

KDFI Performance

Total returns for KDFI (as of 2026-10-01), from SEC filings.

KDFI Risk Information

Risk metrics for KDFI, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 4.0%

KDFI Costs and Fees

KDFI costs about $48 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.48%
• Gross expense ratio: 0.48%
• Portfolio turnover: 147%
• Brokerage commissions: 0.15 bps of average net assets (SEC N-CEN)

KDFI Cashflows

Over the 12 months to 2021-09, KFA Dynamic Fixed Income ETF had net inflows of $97.47M, from monthly SEC N-PORT filings.

KDFI Debt Constituents

No individual debt constituents are reported in KFA Dynamic Fixed Income ETF's latest SEC N-PORT filing.

KDFI Prospectus and SEC Filings

Official KFA Dynamic Fixed Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2021-07-30
• Prospectus (485BPOS) — filed 2019-12-09
• Portfolio holdings (N-PORT) — filed 2021-11-26
• Portfolio holdings (N-PORT) — filed 2021-08-30
• Portfolio holdings (N-PORT) — filed 2021-05-28
• Annual census (N-CEN) — filed 2021-06-14
• Annual census (N-CEN) — filed 2020-06-15

Related Funds

Other Money Market funds tracked on ABC INVEST:

• Emerald Growth Fund (HSPCX)
• Barings Active Short Duration Bond Fund (BXDIX)
• IVA Worldwide Fund (IVWAX)
• Stadion Tactical Growth Fund (ETFDX)
• BBH Partner Fund - Select Short Term Assets (BBSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.