(KCCA) KraneShares California - Ratings and Ratios
Carbon, Credit, Futures, December, California
| Risk via 10d forecast | |
|---|---|
| Volatility | 17.2% |
| Value at Risk 5%th | 24.2% |
| Relative Tail Risk | -14.62% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.62 |
| Alpha | -16.94 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.580 |
| Beta | -0.208 |
| Beta Downside | 0.262 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.88% |
| Mean DD | 14.70% |
| Median DD | 10.27% |
Description: KCCA KraneShares California November 16, 2025
The KraneShares California Carbon Allowance ETF (KCCA) tracks an index composed exclusively of futures contracts on California Carbon Allowances (CCAs) that expire in the December of the next one to two years. The fund aims to mirror the index by holding at least 80% of its net assets in instruments that provide direct exposure to these CCA futures, making it a non-diversified, commodity-focused ETF.
Key market drivers include California’s stringent cap-and-trade program, which currently covers roughly 450 MtCO₂e of emissions annually and has a compliance price that has risen from about $12/ton in 2020 to over $30/ton in 2024, reflecting tightening allowance caps and increasing demand for offsets. Volume in the CCA futures market has expanded, with daily open interest exceeding 1 million contracts, and the state’s policy agenda-such as the upcoming 2030 emissions reduction target-adds upward pressure on allowance prices. Additionally, the potential linkage of California’s market with other regional programs (e.g., Québec’s) could further affect price dynamics and liquidity.
For a deeper quantitative view of KCCA’s risk-adjusted performance and its sensitivity to regulatory changes, you may find ValueRay’s analytical tools useful.
KCCA ETF Overview
| Market Cap in USD | 119m |
| Category | Commodities Focused |
| TER | 0.81% |
| IPO / Inception | 2021-10-04 |
| Return 12m vs S&P 500 | -21.9% |
| Analyst Rating | - |
KCCA Dividends
| Metric | Value |
|---|---|
| Dividend Yield | 5.84% |
| Yield on Cost 5y | 5.01% |
| Yield CAGR 5y | 935.10% |
| Payout Consistency | 75.0% |
| Payout Ratio | - |
KCCA Growth Ratios
| Metric | Value |
|---|---|
| CAGR 3y | 1.09% |
| CAGR/Max DD Calmar Ratio | 0.03 |
| CAGR/Mean DD Pain Ratio | 0.07 |
| Current Volume | 6.1k |
| Average Volume | 33k |
What is the price of KCCA shares?
Over the past week, the price has changed by -0.02%, over one month by -6.03%, over three months by +5.09% and over the past year by -12.21%.
Is KCCA a buy, sell or hold?
What are the forecasts/targets for the KCCA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 26.6 | 59.7% |
KCCA Fundamental Data Overview November 20, 2025
Beta = 0.39
Revenue TTM = 0.0 USD
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 119.3m USD (119.3m + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 119.3m)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 119.3m / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 5.25% (E(119.3m)/V(119.3m) * Re(5.25%) + (debt-free company))
Discount Rate = 5.25% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Fair Price DCF = unknown (Cash Flow 0.0)
Additional Sources for KCCA ETF
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle