# KBDU (KraneShares 2x Long BIDU Daily ETF)

KraneShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: KBDU returned −42.8% where its own daily promise gave −41.1%, 1.7 points short.

## Key facts

- KBDU, what BIDU did: −21.1%, as of Sep 11, 2026.
- KBDU, what +2 times a day gives: −41.1%, as of Sep 11, 2026.
- KBDU, what the fund returned: −42.8%, as of Sep 11, 2026.
- KBDU, the fund itself cost: −1.7 pts, as of Sep 11, 2026.
- KBDU, net assets: $487,025 (source, as filed for Jun 30, 2026).
- KBDU, expense ratio: 1.25% (485BPOS XBRL, Jul 29, 2026).

## KBDU over each window to Sep 11, 2026

| Window | Fund | BIDU | +2x the move | Difference | BIDU moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −27.1% | −12.8% | −25.6% | −1.5 pts | 56% |
| 3 months | −42.8% | −21.1% | −42.1% | −0.7 pts | 45% |
| 6 months | −55.0% | −26.3% | −52.7% | −2.4 pts | 50% |
| Since launch | −49.1% | −17.3% | −34.5% | −14.6 pts | 50% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of BIDU, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +2.03 times, against +2 stated | ETFIQ |
| Underlying | BIDU | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $487,025 | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.25% | 485BPOS XBRL, Jul 29, 2026 |
| Launched | Nov 20, 2025 | ETFIQ |
| Underlying volatility over the window | 45% annualized | ETFIQ |

## Questions

### Did KBDU return +2 times BIDU?

Over the window to Sep 11, 2026, BIDU moved −21.1% and KBDU returned −42.8%. 2 times that move is −42.1%, so the fund came out 0.7 points short of it.

### Why does KBDU not return +2 times over a year?

Because it resets daily. KBDU aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x BIDU ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the arithmetic.


## Cite this page

ETFIQ, KBDU, data as of Sep 11, 2026. https://etfiq.com/funds/KBDU
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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