Fund Description: KraneShares Emerging Markets Consumer Technology Index ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of KraneShares Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The KraneShares Emerging Markets Consumer Technology Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Solactive Emerging Market Consumer Technology Index. INDEX DESCRIPTION: The Solactive Emerging Market Consumer Technology Index is composed of the equity securities of the 50 companies with the largest market capitalization that are headquartered in selected emerging market and frontier countries and focuses on issuers engaged in the consumer or technology sectors. Issuers eligible for inclusion in the Index must be classified under the FactSet Revere Business Industry Classification system as engaged in one or more industries identified by Solactive AG (Index Provider) as being consumer technology oriented. The Index components will be ranked according to their market capitalization. The China-related securities that may be included in the Index and/or represent investments of the Fund: China A-Shares; China B-Shares; China H-Shares; China N-Shares; P-Chips; and Red Chips. The Index is rebalanced annually and may be adjusted quarterly to account for initial public offerings. FUND STRATEGY: 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 Fund may invest up to 20% of its assets in instruments that are not included in the Index, but that the Adviser believes will help the Fund track the Index. These investments may include equity securities and depositary receipts of issuers whose securities are not components of the Index, derivative instruments (including swaps, futures and options contracts), other investment companies (including ETFs) and cash or cash equivalents (including money market funds). Although the Fund reserves the right to use a replication strategy, the Fund expects to use representative sampling to track the Index. Representative sampling is a strategy that involves investing in a representative sample of securities that collectively have an investment profile similar to the Index. FUND MANAGEMENT: Krane Funds Advisors LLC serves as the investment adviser to the Fund.