Overview
Focused specifically on Chinese internet companies — e-commerce, social media, online gaming, and fintech. Most pure-play China internet ETF available.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| TCEHY | Tencent Holdings | 14.8% |
| BABA | Alibaba Group | 12.4% |
| 3690 | Meituan | 9.8% |
| PDD | PDD Holdings | 8.4% |
| JD | JD.com Inc. | 7.8% |
| NTES | NetEase Inc. | 6.4% |
| BIDU | Baidu Inc. | 5.8% |
| TCOM | Trip.com Group | 5.4% |
| KUAI | Kuaishou Tech. | 4.8% |
| BILI | Bilibili Inc. | 4.4% |
Fund Details
Investment Thesis
KWEB offers the purest expression of the Chinese consumer internet thesis, concentrating exclusively on e-commerce, social media, online gaming, search, and fintech companies. Tencent and Alibaba alone operate platforms serving over a billion users each with monetization rates far below Western comparables. Normalization of Chinese internet regulation and government support for the private sector could unlock significant valuation re-rating.
Who It's For
Investors seeking concentrated exposure to China's leading consumer internet companies at historically depressed valuations relative to their global peers. KWEB is a high-conviction, high-risk position for those who believe the Chinese internet regulatory cycle has bottomed and that consumer spending recovery will drive revenue growth. Not suitable as a core holding, best used as a focused tactical satellite position.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $47.82 | -- |
| 2019 | $43.42 | -9.2% |
| 2020 | $73.82 | +70.0% |
| 2021 | $54.18 | -26.6% |
| 2022 | $24.18 | -55.4% |
| 2023 | $31.82 | +31.6% |
| 2024 | $28.42 | -10.7% |
| 2025 | $34.92 | +22.9% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | -- |
| 2018 | 0.38% |
| 2019 | 0.34% |
| 2020 | 0.28% |
| 2021 | 0.24% |
| 2022 | 0.32% |
| 2023 | 0.28% |
| 2024 | 0.26% |
| 2025 | 0.28% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | -- | -- |
| 2018 | $1.2B | -- |
| 2019 | $1.2B | +0.0% |
| 2020 | $2.8B | +133.3% |
| 2021 | $6.8B | +142.9% |
| 2022 | $3.2B | -52.9% |
| 2023 | $4.2B | +31.2% |
| 2024 | $4.8B | +14.3% |
| 2025 | $5.6B | +16.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related Country ETFs ETFs
Markets. Intelligence. Daily.
Full briefs on 400+ ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →