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KLIP · KraneShares KWEB Covered Call Strategy ETF

Know the company

Company overview

KraneShares KWEB Covered Call Strategy ETF (KLIP) is a U.S.-domiciled exchange-traded investment fund. Combines exposure to the KraneShares China internet equity ETF with a covered-call strategy. The underlying exposure is a portfolio of businesses.

Business
International option-income ETF
Listing
KLIP · ARCX
Reporting period
2026-03-31
Dividend schedule
Monthly

How the business works

Portfolio interest and dividends, realized investment results and any derivative activity contribute to distribution resources after expenses. Taxable income and cash distributions can differ from reported net investment income.

KraneShares KWEB Covered Call Strategy ETF: financial report supporting reported earnings

Dividend & earnings snapshot

Reported earnings

Each measure shown separately, per share

Net investment income$1.86

Apr 1, 2025 to Mar 31, 2026

Distribution yield30.48%Sourced distributions divided by dated market price
Reported annual income yield7.24%Reported net investment income $1.8600 per share for 2025-04-01 to 2026-03-31, divided by approved 2026-03-31 market price $25.7000. Excludes capital gains; historical, not a current yield or forecast.
Trailing 12-month distributions$6.78Recorded recurring payments per share, not a forecast
Distribution supportSee period evidenceReported net investment income and total distributions for the same period are needed.
Verified dividend dates and payment components

Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.

Verified earnings history and sources

The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.

Reporting periodEarnings measurePer shareSource
Apr 1, 2025 to Mar 31, 2026Net investment income$1.86Issuer source 1
Announced Jun 8, 2026

Business and earnings charts

Financial snapshot: 2026-03-31. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The assets it owns

$93.148 million net assetsInternational option-income ETF

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

KraneShares KWEB Covered Call Strategy ETF: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2025-04-01 to 2026-03-31 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$1.8600
Total cash distributions in the same period$7.2000

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

KraneShares KWEB Covered Call Strategy ETF: financial report supporting reported earnings

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting periodEnding NAVNAV changeDistributions / shareReported NAV total returnSource
Apr 1, 2025 to Mar 31, 2026$25.69-21.80%$7.20-0.27%Verified issuer financial highlights for this exact fiscal period; total return is reported, not inferred.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Why the annual trend is limited

The covered-call strategy continued, but a reverse share split and a new distribution policy took effect in January 2025, inside fiscal 2025. Compare distribution amounts across these years with that change in mind.

Read the source filing or issuer notice

Reported distribution and income history

Net investment income and total cash distributions are separate reported figures. Investment gains, option activity where applicable, and other sources can contribute to distributions, so net investment income alone is not a coverage verdict. Partial periods are not annualized.

Reporting periodNet investment income/shareTotal distributions/share
2024-04-01 to 2025-03-31 $0.99 $14.20
2025-04-01 to 2026-03-31 $1.86 $7.20

Risk monitor

RiskCurrent conditionDirectionWhy it matters
Portfolio and strategy riskIncome and capital are exposed to China internet-company concentration, international markets and option trade-offs.MonitorA change can affect future distributions or shareholder capital.
Distribution variabilityPayments can change and can include gains or return of capital. A high trailing yield does not establish earnings coverage or total return.MonitorA change can affect future distributions or shareholder capital.
Market and implementation riskMarket liquidity, trading costs, derivative execution where used, and fund expenses can reduce shareholder returns.MonitorA change can affect future distributions or shareholder capital.

The assets behind the earnings

How KLIP makes money

Financial snapshot: 2026-03-31. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The income-producing business

Portfolio interest and dividends, realized investment results and any derivative activity contribute to distribution resources after expenses. Taxable income and cash distributions can differ from reported net investment income.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

KraneShares KWEB Covered Call Strategy ETF: financial report supporting reported earnings

What the reported earnings support

KraneShares KWEB Covered Call Strategy ETF reported $1.8600 per share for 2025-04-01 to 2026-03-31, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

KraneShares KWEB Covered Call Strategy ETF: financial report supporting reported earnings

What would change the earnings picture?

For KraneShares KWEB Covered Call Strategy ETF, follow Fund net investment income per common share; actual reporting period, not annualized in the next financial report, the announced cash distribution and financing costs. Key exposures to reassess: portfolio and strategy risk, distribution variability.

Net asset value (NAV)

NAV per share$21.8300Sep 29, 2026
Market price$21.8800Sep 29, 2026
PREMIUM / DISCOUNT TO NAV0.23% premiumCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

Fund issuer-reported ETF NAV and market price, both dated 2026-09-29. The premium or discount is calculated from these two issuer-reported values. Older audited NAV history remains unchanged.

NAV source · Market-price source

Current evidence and recent developments

  • Reported fund net investment income per share: $1.86 for 2025-04-01 to 2026-03-31; actual period, not annualized.
  • Trailing distribution screen: 30.48% on 2026-09-11.
  • Latest announced cash distribution in the checked history: $0.4733; usual frequency monthly.

What to watch next

  • The next distribution declaration and any change in the payment policy.
  • Portfolio results and risks, particularly China internet-company concentration, international markets and option trade-offs.
  • Issuer financial reports, fund strategy changes and final distribution tax character.

Fly High context

Assess the fund’s earning resources, portfolio risks and distribution composition together before interpreting its yield.

Loading current company feeds…

U.S. federal · Tax year 2025

Dividend tax treatment

For KLIP's December 31, 2025 payment, the issuer's year-end report listed $0.336341 short-term gain and $0.282754 other ordinary income per share. Both generally fall under ordinary dividends for federal tax reporting.

Total ordinary dividends
100%
Qualified dividends
Not confirmed
Capital-gain distributions
0%
Return of capital
Not confirmed

This is a close look at the payment dates named above, not a verdict on every distribution paid in 2025. Other payments can have a different mix. Use this estimate to understand those checks, then compare the whole year with your tax statement.

Read the source behind these figures. Your Form 1099-DIV is the guide for your own filing.

The issuer calls this breakdown an estimate. This is an issuer estimate for the December 31 payment only, not KLIP's full 2025 mix. The two listed amounts total $0.619095 per share. Short-term capital gain is generally reported as ordinary dividends rather than long-term capital-gain distributions. Qualified-dividend and return-of-capital amounts are not confirmed by this report. The issuer says amounts can change; use your Form 1099-DIV for filing. Your Form 1099-DIV may show a different final mix. See the issuer's estimate.

Tax year: 2025.

Tax details and source
Total ordinary dividends (includes qualified)
100%
Section 199A portion (within ordinary dividends)
Not confirmed
Exempt-interest distributions
Not confirmed
Reporting form
Form 1099-DIV
Source date
2025-12-30

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

Public Research updated September 30, 2026 4:13 am

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