MUSQ vs. KWEB ETF Comparison

Comparison of MUSQ Global Music Industry ETF (MUSQ) to KraneShares CSI China Internet ETF (KWEB)

MUSQ

MUSQ Global Music Industry ETF

MUSQ Description

The index is comprised of publicly-traded global companies that generate at least 50% of their annual revenue or $1 billion in annual sales from one or more of the sub-segments of the global music industry. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of Global Music Investments. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$23.78

Average Daily Volume

1,557

Number of Holdings ^*

* may have additional holdings in another (foreign) market

KWEB

KraneShares CSI China Internet ETF

KWEB Description

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of a specific foreign equity securities benchmark. The fund will normally invest at least 80% of its total assets in equity securities of its current benchmark, the CSI Overseas China Internet Index or in depositary receipts representing securities of the underlying index. The underlying index is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$30.61

Average Daily Volume

30,469,366

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	MUSQ	KWEB
30 Days	2.41%	-3.14%
60 Days	5.95%	16.59%
90 Days	2.66%	19.31%
12 Months	0.60%	13.29%

1 Overlapping Holdings

	Symbol	Grade	Weight in MUSQ	Weight in KWEB	Overlap
	TME	D	2.96%	2.87%	2.87%

MUSQ Overweight 14 Positions Relative to KWEB

Symbol	Grade	Weight
AMZN	B	5.56%
GOOGL	B	5.31%
SPOT	A	4.87%
SONY	B	4.82%
AAPL	C	4.79%
IHRT	C	4.05%
LYV	A	3.75%
SONO	C	3.25%
WMG	B	3.24%
EDR	A	3.1%
DLB	B	3.09%
TSQ	F	3.05%
MSGE	F	2.75%
RSVR	A	1.41%

MUSQ Underweight 15 Positions Relative to KWEB

Symbol	Grade	Weight
BABA	D	-9.61%
PDD	F	-6.04%
BEKE	C	-4.75%
TCOM	B	-4.63%
BILI	D	-3.66%
YMM	C	-3.6%
VIPS	F	-3.38%
BIDU	D	-3.29%
TAL	F	-2.9%
QFIN	A	-2.81%
BZ	F	-2.4%
ATHM	C	-1.17%
YY	B	-0.79%
WB	C	-0.48%
IQ	F	-0.42%