KBUY — KraneShares MSCI All China Consumer Discretionary Index ETF ☆

The investment seeks to provide investment results that, before fees and expenses, track the price and yield performance of a specific foreign equity securities index. The fund's current index is the MSCI China All Shares Consumer Discretionary Index. Under normal circumstances, the fund will invest at least 80% of its total assets in components of the underlying index, depositary receipts. The underlying index is a free float adjusted market capitalization weighted index designed to track the equity market performance of Chinese companies engaged in the consumer discretionary sector. The fund is non-diversified.