KSPY was created on 2024-07-16 by KraneShares. The fund's investment portfolio concentrates primarily on large cap equity. KSPY tracks an index the provides exposure to the S&P 500, with the objective of reducing volatility and dynamically hedging downside risk. The underlying portfolio holds ETFs with exposure to the S&P 500 Index, a fund-of-funds, and weekly Index options. Strategy and allocations are modified based on a proprietary risk model.