KraneShares CSI China Internet Fund (NasdaqGM: KWEB)
April decline: 15.4%
Comment: Many of the same factors that have afflicted SOCL and other Internet-related ETFs pressured KWEB in April. The ETF does, however, have an important catalyst coming down the pike: Alibaba’s initial public offering, which is expected later this year. KWEB will likely be among the first ETFs to add Alibaba to its lineup following the IPO. [Alibaba Results Nudge China Internet ETF Higher]
KWEB was not April’s only China Internet ETF offender.The Powershares Golden Dragon Halter USX China Portfolio (NYSEArca: PGJ) and the Guggenheim China Technology ETF (NYSEArca: CQQQ) also struggled during the month.