# KSPY (KraneShares Hedgeye Hedged Equity Index ETF)

KraneShares · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, KSPY fell 40% as much as the index.

## Key facts

- KSPY, correlation with the S&P 500: +0.87, as of Sep 18, 2026.
- KSPY, beta to the S&P 500: +0.43, as of Sep 18, 2026.
- KSPY, down-week capture: 39.8%, as of Sep 18, 2026.
- KSPY, against T-bills, 52 weeks: +9.5 pts, as of Sep 18, 2026.
- KSPY, net assets: $127m (issuer page, as of Sep 18, 2026).
- KSPY, expense ratio: 0.88% (485BPOS XBRL, Jul 29, 2026).

## KSPY over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +2.5% | +2.3% | +0.2 pts |
| 6 months | +10.6% | +18.0% | −7.4 pts |
| 1 year | +13.3% | +16.6% | −3.3 pts |
| Since it listed | +28.6% | +38.4% | −9.7 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | KraneShares | ETFIQ |
| Strategy | Hedged equity | ETFIQ, from its prospectus |
| Expense ratio | 0.88% | 485BPOS XBRL, Jul 29, 2026 |
| Net assets | $127m | issuer page, as of Sep 18, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| KSPY in those weeks, on average | −0.49% | ETFIQ |
| KSPY total return over those weeks | +13.1% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Jul 16, 2024 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does KSPY move with the S&P 500?

Over the year to Sep 18, 2026, KSPY’s weekly returns had a correlation of +0.87 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.43, so for each 1% the index moved it moved about 0.43% the same way.

### What did KSPY do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks KSPY fell 0.49% on average, a down-week capture of 39.8%.

### Did KSPY earn more than cash?

Over the same 52 weeks KSPY returned +13.1% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. KSPY finished 9.5 percentage points ahead of it.

### What does KSPY cost?

The prospectus expense ratio is 0.88% a year.

### Why is KSPY listed as hedged equity?

ETFIQ files each fund by what its own prospectus says it does, and KSPY’s, filed Jul 29, 2026, describes a hedged equity fund.


## Cite this page

ETFIQ, KSPY, data as of Sep 18, 2026. https://etfiq.com/funds/kspy
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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