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KraneShares Trust - KraneShares California Carbon Allowance Strategy ETF is an exchange traded fund launched and managed by Krane Funds Advisors, LLC. The fund is co-managed by Climate Finance Partners LLC. It invests in fixed income markets. The fund invests directly and through derivatives in investment grade government securities and corporate or other non-government fixed-income securities with maturities between 1-2 years. It uses derivatives such as futures and swaps to create its portfolio. The fund seeks to invest in carbon credit futures through its subsidiary operating under Cayman Islands law. It seeks to track the performance of the IHS Markit Carbon CCA Index. KraneShares Trust - KraneShares California Carbon Allowance Strategy ETF was formed on October 5, 2021 and is domiciled in the United States.