Those stocks combine for over 18% of KWEB’s weight and 17.4% of PGJ’s weight. The $248.6 million PGJ is not a pure Internet or technology ETF, but the fund does allocate 51.4% of its weight to the tech sector, more than double the weight devoted to consumer discretionary names.
Other stocks are lifting KWEB and PGJ as well and in more significant fashion than Baidu or even Qihoo 360. Since May 8th, 21Vianet Group (NasdaqGS: VNET) is up 11.7%, which sounds impressive until considering the average gain posted by Ctrip.com (NasdaqGS: CTRP) and Vipshop Holdings (NYSE: VIPS) over that time is 26%.
Ctrip’s upside since May 8th is nearly quadruple that of Priceline.com (NasdaqGS: PCLN). The former is PGJ’s largest holding at a weight of 9.1%. The ETF also features a 5.8% weight to Vipshop.
Ctrip, Vipshop and 21Vianet combine for 20.2% of KWEB’s weight, according to KraneShares data.
KraneShares CSI China Internet Fund
