KCCA ETF — KraneShares California Carbon Allowance ETF

KraneShares California Carbon Allowance ETF (KCCA)

Updated October 16, 2026.

KCCA is an ETF. its distribution rate is 2.87%, its trailing-12-month yield is 2.87%, its expense ratio is 0.95%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is -10.8% over the past 5 years, 99.2 points behind SPY at 88.4%.

KraneShares California Carbon Allowance ETF is a non-diversified fund that invests at least 80% of its assets in futures contracts tied to California Carbon Allowances, which are emission permits issued under the state's cap-and-trade regulatory program designed to reduce greenhouse gas emissions. The fund carries a modest current distribution rate and distributes semi-annually, with an expense ratio of 0.95%. It appeals to investors seeking commodity exposure linked to environmental policy and carbon markets rather than traditional equity or fixed-income income.

KCCA performance versus SPY

Price and return data through 2026-10-16.

Total return is -10.8% over the past 5 years, 99.2 points behind SPY at 88.4%. Over the past year its total return — price change plus distributions reinvested — is -3.8%. Its deepest 1-year drawdown was 15.3%.

KCCA key facts

Distribution Safety Score™

50 · Unproven

Issuer

KraneShares

Asset type

ETF

Asset class

Commodity

Inception date

10/04/2021

Expense ratio

0.95%

Distribution rate

2.87%

Distribution frequency

Semi-Annual

Trailing yield

2.87%

Last close

$16.82 (as of 2026-10-16)

AUM

$116,256,903

Average volume

1258.0

Dividend

$0.483

Ex-dividend date

12/22/2025

Payment date

12/23/2025

Beta

-0.22

How Dividend Vision calculates yield and returns

Distribution rate (2.87%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (2.87%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: KraneShares; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

KCCA risks and drawbacks

KCCA's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are semi-annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 15.3%.

Who may consider KCCA — and who may not

KCCA may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (KCCA pays semi-annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on KCCA

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Frequently asked questions

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