KPRO was created on 2024-02-08 by KraneShares. The fund's investment portfolio concentrates primarily on downside hedge alternatives. KPRO seeks to track the total return of the KraneShares CSI China Internet ETF (KWEB) up to a cap, with a 100% downside hedge over a two-year outcome period. The actively managed fund holds shares of the underlying ETF and options to obtain exposure.