| Investment Objective: |
The KraneShares Photonic and Optical ETF seeks growth of capital. The Fund invests at least 80% of its net assets in the equity securities of Photonic and Optical Companies or instruments that have economic characteristics similar to the equity securities of Photonic and Optical Companies. The Fund defines "Photonic and Optical Companies" as companies that derive at least 50% of their annual revenues or gross profits from the development, manufacturing, or sale of one or more of the following products: (1) Optical transceivers, pluggable modules, and co-packaged optics ("CPO") used in data center, telecommunications, or AI compute interconnect applications; (2) Photonic integrated circuits ("PICs") or silicon photonics components, including light sources, modulators, photodetectors and wavelength-division multiplexing ("WDM") devices, which may be designed and fabricated on semiconductor substrates; (3) Optical fiber, optical fiber cable, or fiber-optic cable assemblies used in high-speed data transmission applications; and (4) Optical networking systems, including coherent transmission platforms, reconfigurable optical add-drop multiplexers ("ROADMs"), optical line systems, and WDM transmission equipment used in telecommunications or data center interconnect applications. |
