# KBDU (KraneShares 2x Long BIDU Daily ETF)

KraneShares · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: KBDU returned −49.8% where its own daily promise gave −48.4%, 1.4 points short.

## Key facts

- KBDU, what BIDU did: −26.3%, as of Sep 30, 2026.
- KBDU, what 2 times a day gives: −48.4%, as of Sep 30, 2026.
- KBDU, what the fund returned: −49.8%, as of Sep 30, 2026.
- KBDU, the fund itself cost: −1.4 pts, as of Sep 30, 2026.
- KBDU, net assets: $778,718 (issuer page, as of Sep 30, 2026).
- KBDU, expense ratio: 1.25% (485BPOS XBRL, Jul 29, 2026).

## KBDU over each window to Sep 30, 2026

| Window | Fund | BIDU | +2x the move | Difference | BIDU moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −18.6% | −8.8% | −17.7% | −0.9 pts | 34% |
| 3 months | −49.8% | −26.3% | −52.7% | +2.9 pts | 41% |
| 6 months | −49.8% | −22.4% | −44.7% | −5.1 pts | 48% |
| Since launch | −54.5% | −21.4% | −42.7% | −11.8 pts | 48% |

## 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 | +1.89 times, against +2 stated | ETFIQ |
| Underlying | BIDU | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $778,718 | issuer page, as of Sep 30, 2026 |
| Expense ratio | 1.25% | 485BPOS XBRL, Jul 29, 2026 |
| Launched | Nov 20, 2025 | ETFIQ |
| Underlying volatility over the window | 41% annualized | ETFIQ |

## Questions

### Did KBDU return +2 times BIDU?

Over the window to Sep 30, 2026, BIDU moved −26.3% and KBDU returned −49.8%. 2 times that move is −52.7%, so the fund came out 2.9 points ahead 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 figure itself.


## Cite this page

ETFIQ, KBDU, data as of Sep 30, 2026. https://etfiq.com/funds/kbdu
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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