KMED — KraneShares Emerging Markets Healthcare Index ETF ☆

The investment seeks to provide investment results that, before fees and expenses, track the price and yield performance of the Solactive Emerging Markets Healthcare Index (the index). Under normal circumstances, the fund will invest at least 80% of its total assets in components of the index, depositary receipts, including American depositary receipts ("ADRs"), representing such components, and securities underlying depositary receipts in the index. The index is a free float adjusted market capitalization weighted index designed to track the equity market performance of emerging market companies engaged in the healthcare business. The fund is non-diversified.