- ISIN
- US5007675532
- CUSIP
- 500767553
- Issuer
- KraneShares
- Inception Date
- Oct 4, 2021
- Region
- North America (U.S.)
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P Carbon Credit CCA Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Assets Under Management
- $121M
Share Price Chart
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Performance
KCCA Performance Chart
KraneShares California Carbon Allowance Strategy ETF (KCCA) is up 0.9% since the beginning of the year. KCCA is currently trading at $17 per share.
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Returns By Period
KraneShares California Carbon Allowance Strategy ETF (KCCA) has returned 0.89% so far this year and 14.85% over the past 12 months.
KraneShares California Carbon Allowance Strategy ETF
- 1D
- 0.70%
- 1M
- 7.52%
- YTD
- 0.89%
- 6M
- 2.91%
- 1Y
- 14.85%
- 3Y*
- -3.25%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
KCCA Monthly Returns History
Based on dividend-adjusted daily data since Oct 5, 2021, KCCA's average daily return is 0.00%, while the average monthly return is +0.03%. At this rate, an investment would double in approximately 192.6 years.
Historically, 53% of months were positive and 47% were negative. The best month was Jul 2023 with a return of +13.9%, while the worst month was Jan 2025 at -14.1%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 6 months.
On a daily basis, KCCA closed higher 50% of trading days. The best single day was Mar 9, 2022 with a return of +8.8%, while the worst single day was Nov 24, 2021 at -12.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -9.49% | -0.85% | -1.76% | 1.21% | 7.13% | 5.54% | 0.89% | ||||||
| 2025 | -14.07% | 2.85% | -4.04% | -11.30% | -1.02% | 6.23% | -0.32% | 4.59% | 5.50% | 2.93% | -8.37% | 7.47% | -11.81% |
| 2024 | 2.81% | -1.94% | -5.76% | -1.68% | -0.04% | -2.21% | -9.82% | 3.32% | 3.26% | 5.29% | -9.49% | 0.27% | -16.05% |
| 2023 | -2.67% | 1.59% | 3.79% | 4.19% | -1.33% | 4.55% | 13.85% | -0.90% | -0.75% | 3.74% | 2.00% | 2.57% | 34.07% |
| 2022 | -13.17% | 0.98% | 3.59% | -2.07% | 8.04% | -4.24% | -7.43% | -5.86% | -2.78% | 12.40% | -11.68% | 6.52% | -17.54% |
| 2021 | 5.80% | 2.63% | 1.99% | 10.75% |
Benchmark Metrics
KraneShares California Carbon Allowance Strategy ETF has an annualized alpha of -1.01%, beta of 0.15, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 05, 2021.
- This ETF participated in 22.34% of S&P 500 Index downside but only 3.77% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.15 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -1.01%
- Beta
- 0.15
- R²
- 0.01
- Upside Capture
- 3.77%
- Downside Capture
- 22.34%
Expense Ratio
KCCA has an expense ratio of 0.91%, placing it in the medium range.
Return for Risk
Risk / Return Rank
KCCA ranks 25 for risk / return — below 25% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for KraneShares California Carbon Allowance Strategy ETF (KCCA) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KCCA | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.37 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 2.78 | -1.81 |
| Martin ratioReturn relative to average drawdown | 1.70 | 12.44 | -10.74 |
Dividends
Dividend History
KraneShares California Carbon Allowance Strategy ETF provided a 2.85% dividend yield over the last twelve months, with an annual payout of $0.48 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.48 | $0.48 | $6.00 | $0.94 | $0.06 |
Dividend yield | 2.85% | 2.87% | 30.58% | 3.12% | 0.24% |
Monthly Dividends
The table displays the monthly dividend distributions for KraneShares California Carbon Allowance Strategy ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.48 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.97 | $6.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.74 | $0.94 |
| 2022 | $0.06 | $0.06 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the KraneShares California Carbon Allowance Strategy ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the KraneShares California Carbon Allowance Strategy ETF was 40.88%, occurring on Apr 14, 2025. The portfolio has not yet recovered.
The current KraneShares California Carbon Allowance Strategy ETF drawdown is 28.47%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -40.88%Apr 2025 | 1y 2mo | — | 2y 4moFeb 2024 - now |
Bear market2022 | -34.85%Mar 2022 | 3mo 21d | 1y 10mo | 2y 1moNov 2021 - Jan 2024 |
2021 pullback2021 | -7.15%Oct 2021 | 2d | 14d | 16dOct 2021 - Oct 2021 |
2021 pullback2021 | -2.08%Oct 2021 | 2d | 1d | 3dOct 2021 - Oct 2021 |
2024 pullback2024 | -1.69%Jan 2024 | 1d | 9d | 10dJan 2024 - Feb 2024 |
Drawdown Indicators
| KCCA | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.88% | -56.78% | +15.90% |
Max Drawdown (1Y)Largest decline over 1 year | -15.30% | -9.10% | -6.20% |
Max Drawdown (3Y)Largest decline over 3 years | -40.88% | -18.90% | -21.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -28.47% | -1.80% | -26.67% |
Average DrawdownAverage peak-to-trough decline | -21.51% | -10.71% | -10.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.78% | 2.03% | +6.75% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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