Largest China Tech ETF in U.S. Wipes Out Nine Years of Gains
- KWEB ETF declines about 28% over the past three days
- Investors had flocked to fund, despite stock losing streak
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The selloff in Chinese stocks has been so intense that it’s erased all the gains in the largest China tech exchange-traded fund in the U.S. since the debut in 2013.
KraneShares CSI China Internet Fund (KWEB), a $4.9 billion ETF that invests in Chinese tech companies, slumped more than 11% Monday, bringing its decline over the past three days to 28%. Its loss this year has surpassed 42%, wiping out all the gains, including dividend payouts, since it started trading nine years ago.