KraneShares KWEB Covered Call Strategy ETF (NYSE : KLIP) Stock

Fund seeks to provide current income. The Fund employs a covered call strategy. The Fund invests 80% of its net assets (plus borrowings for investment purposes) in the component securities of the CSI Overseas China Internet Index (Index) or in instruments that have economic characteristics similar to those in the Index and writes (sells) covered call options on the Index or in instruments that have economic characteristics similar to writing covered call options on the Index. Currently, the Fund intends to invest in KraneShares CSI China Internet ETF (Underlying Fund), which is an exchange-traded fund advised by Krane that seeks to track the Index, and to write (sell) covered call options on the Underlying Fund. The Fund intends to write covered call options on the Underlying Fund on the full amount of its investment in the Underlying Fund.