Overview
The price of polluting — EU, California and UK carbon-allowance futures in the first global carbon-credit fund.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| KCSH | KraneShares Ultra Short Duration ETF | 48.8% |
| CORP | GS Finance MTN (carbon-linked) | 19.6% |
| FUT | Krane Carbon futures entity | 12.8% |
| CASH | State Street Gov Money Market | 9.0% |
| CASH | Cash | 7.4% |
| CASH | Sterling cash | 2.4% |
Fund Details
Investment Thesis
Carbon allowances are a government-engineered bull market: caps shrink by law every year, so the long-run supply curve only tightens. A flat year reflects Europe's industrial slowdown, not the mechanism — and every prior lull has resolved upward as compliance deadlines bite. KRBN's returns correlate with nothing else in a portfolio, which alongside the regulatory ratchet is the whole case for a small structural position.
Who It's For
Diversifiers who want an uncorrelated, regulation-driven asset — the carbon price as a long-term policy ratchet, held small.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | $24.63 | -- |
| 2021 | $50.90 | +106.7% |
| 2022 | $36.47 | -28.3% |
| 2023 | $36.49 | +0.1% |
| 2024 | $29.31 | -19.7% |
| 2025 | $35.40 | +20.8% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | -- |
| 2019 | -- |
| 2020 | 0.50% |
| 2021 | 0.50% |
| 2022 | 21.77% |
| 2023 | 7.95% |
| 2024 | 7.61% |
| 2025 | 1.93% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | -- | -- |
| 2019 | -- | -- |
| 2020 | $0.05B | -- |
| 2021 | $0.1B | +100.0% |
| 2022 | $0.1B | +0.0% |
| 2023 | $0.1B | +0.0% |
| 2024 | $0.1B | +0.0% |
| 2025 | $0.1B | +0.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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