KraneShares 90% KWEB Defined Outcome January 2027 ETF (KBUF)

The KraneShares 90% KWEB Defined Outcome January 2027 ETF (KBUF) is a defined-outcome fund from Krane Funds Advisors. It seeks to provide returns linked to the KraneShares CSI China Internet ETF (KWEB) up to a cap, while protecting against 90% of that fund's losses over an outcome period ending in January 2027.

The fund uses options on KWEB to create its payoff. In exchange for a high level of downside protection, the potential upside is limited by a cap set at the start of the outcome period.

KWEB itself holds Chinese internet and technology companies, so this fund offers a way to participate in that sector with substantially reduced downside exposure. The stated protection and cap apply to investors who hold shares through the full outcome period.