UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22998
CSOP ETF TRUST
(Exact name of registrant as specified in charter)
2801 – 2803, Two Exchange Square,
8 Connaught Place,
Central, Hong Kong
(Address of principal executive offices) (Zip Code)
The Corporation Trust Company
1209 Orange Street
Wilmington, DE 19801
(Name and address of agent for service)
Registrant's telephone number, including area code: 852 3406-5628
Date of fiscal year end: September 30
Date of reporting period: September 30, 2017
Item 1. Report to Stockholders.
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CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
CSOP CHINA CSI 300 A-H DYNAMIC ETF
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LETTER TO SHAREHOLDERS (unaudited)
Dear Shareholder,
LETTER TO SHAREHOLDERS (unaudited) (concluded)
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Trustee and Chairman
CSOP ETF Trust
CSOP FTSE CHINA A50 ETF
MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited)
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| | | 1 Year Return | | | Annualized Since Inception Return | | | Since Inception Date | | |||||||||
CSOP FTSE China A50 ETF (NAV) | | | | | 26.94% | | | | | | 6.02% | | | | | | 3/10/2015 | | |
CSOP FTSE China A50 ETF (Market) | | | | | 25.80% | | | | | | 6.20% | | | | | | 3/10/2015 | | |
FTSE China A50 Net Total Return Index® | | | | | 27.55% | | | | | | 5.43% | | | | | | 3/10/2015 | | |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited) (continued)
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| | | 1 Year Return | | | Annualized Since Inception Return | | | Since Inception Date | | |||||||||
CSOP MSCI China A International Hedged ETF (NAV) | | | | | 14.08% | | | | | | 0.22% | | | | | | 10/20/2015 | | |
CSOP MSCI China A International Hedged ETF (Market) | | | | | 13.01% | | | | | | -0.34% | | | | | | 10/20/2015 | | |
MSCI China A International with CNH 100% Hedged to USD Index® | | | | | 12.97% | | | | | | -1.36% | | | | | | 10/20/2015 | | |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
MANAGEMENT DISCUSSION OF FUND PERFORMANCE (unaudited) (concluded)
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| | | 1 Year Return | | | Annualized Since Inception Return | | | Since Inception Date | | |||||||||
CSOP China CSI 300 A-H Dynamic ETF (NAV) | | | | | 19.10% | | | | | | 4.09% | | | | | | 10/20/2015 | | |
CSOP China CSI 300 A-H Dynamic ETF (Market) | | | | | 18.51% | | | | | | 3.64% | | | | | | 10/20/2015 | | |
CSI 300 Smart Index® | | | | | 19.32% | | | | | | 4.19% | | | | | | 10/20/2015 | | |
DISCLOSURE OF FUND EXPENSES
September 30, 2017
(unaudited)
Fund | | | Beginning Account Value 4/1/2017 | | | Actual Ending Value 9/30/2017 | | | Hypothetical Ending Account Value 9/30/2017 | | | Actual Expenses Paid During the Period(a) | | | Hypothetical Expenses Paid During the Period(a) | | | Annualized Expense Ratio | | ||||||||||||||||||
CSOP FTSE China A50 ETF | | | | $ | 1,000.00 | | | | | $ | 1,211.30 | | | | | $ | 1,021.56 | | | | | $ | 3.88 | | | | | $ | 3.55 | | | | | | 0.70% | | |
CSOP MSCI China A International Hedged ETF | | | | | 1,000.00 | | | | | | 1,097.90 | | | | | | 1,021.11 | | | | | | 4.15 | | | | | | 4.00 | | | | | | 0.79% | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 1,000.00 | | | | | | 1,138.30 | | | | | | 1,021.31 | | | | | | 4.02 | | | | | | 3.80 | | | | | | 0.75% | | |
CSOP FTSE CHINA A50 ETF
SCHEDULE OF INVESTMENTS
September 30, 2017
| | | Shares | | | Market Value | ||||||
Common Stocks – 99.7% | | | | |||||||||
China – 99.7% | | | | |||||||||
Auto Manufacturers – 2.6% | | | | |||||||||
BYD Co. Ltd. Class A | | | | | 5,400 | | | | | $ | 55,375 | |
Guangzhou Automobile Group Co. Ltd. Class A | | | | | 5,100 | | | | | | 20,552 | |
SAIC Motor Corp. Ltd. Class A | | | | | 22,889 | | | | | | 103,749 | |
| | | | | | | | | | | 179,676 | |
Banks – 36.7% | | | | |||||||||
Agricultural Bank of China Ltd. Class A | | | | | 343,200 | | | | | | 196,837 | |
Bank of Beijing Co. Ltd. Class A | | | | | 125,972 | | | | | | 141,094 | |
Bank of China Ltd. Class A | | | | | 205,000 | | | | | | 126,808 | |
Bank of Communications Co. Ltd. Class A | | | | | 194,700 | | | | | | 184,748 | |
Bank of Shanghai Co. Ltd. Class A | | | | | 7,790 | | | | | | 20,889 | |
China CITIC Bank Corp. Ltd. Class A | | | | | 26,538 | | | | | | 25,102 | |
China Construction Bank Corp. Class A | | | | | 87,600 | | | | | | 91,671 | |
China Everbright Bank Co. Ltd. Class A | | | | | 135,500 | | | | | | 82,393 | |
China Merchants Bank Co. Ltd. Class A | | | | | 114,328 | | | | | | 438,571 | |
China Minsheng Banking Corp. Ltd. Class A | | | | | 224,120 | | | | | | 269,868 | |
Industrial & Commercial Bank of China Ltd. Class A | | | | | 209,800 | | | | | | 188,996 | |
Industrial Bank Co. Ltd. Class A | | | | | 134,732 | | | | | | 349,754 | |
Ping An Bank Co. Ltd. Class A | | | | | 70,224 | | | | | | 117,138 | |
Shanghai Pudong Development Bank Co. Ltd. Class A | | | | | 133,881 | | | | | | 258,699 | |
| | | | | | | | | | | 2,492,568 | |
Beverages – 8.0% | | | | |||||||||
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A | | | | | 4,300 | | | | | | 65,529 | |
Kweichow Moutai Co. Ltd. Class A | | | | | 4,247 | | | | | | 330,070 | |
Wuliangye Yibin Co. Ltd. Class A | | | | | 16,800 | | | | | | 144,480 | |
| | | | | | | | | | | 540,079 | |
Coal – 0.9% | | | | |||||||||
China Shenhua Energy Co. Ltd. Class A | | | | | 19,267 | | | | | | 60,574 | |
Commercial Services – 0.4% | | | | |||||||||
Shanghai International Port Group Co. Ltd. Class A | | | | | 29,700 | | | | | | 29,832 | |
Computers – 2.0% | | | | |||||||||
BOE Technology Group Co. Ltd. Class A | | | | | 201,400 | | | | | | 133,048 | |
Diversified Financial Services – 8.8% | | | | |||||||||
CITIC Securities Co. Ltd. Class A | | | | | 75,546 | | | | | | 206,320 | |
GF Securities Co. Ltd. Class A | | | | | 24,741 | | | | | | 70,503 | |
Guotai Junan Securities Co. Ltd. Class A | | | | | 32,200 | | | | | | 104,570 | |
Haitong Securities Co. Ltd. Class A | | | | | 58,300 | | | | | | 129,372 | |
Huatai Securities Co. Ltd. Class A | | | | | 25,400 | | | | | | 86,263 | |
| | | | | | | | | | | 597,028 | |
|
CSOP FTSE CHINA A50 ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Electric – 1.9% | | | | |||||||||
China National Nuclear Power Co. Ltd. Class A | | | | | 38,400 | | | | | $ | 43,010 | |
China Yangtze Power Co. Ltd. Class A | | | | | 38,600 | | | | | | 87,337 | |
| | | | | | | | | | | 130,347 | |
Electronics – 1.9% | | | | |||||||||
Hangzhou Hikvision Digital Technology Co. Ltd. Class A | | | | | 26,963 | | | | | | 129,543 | |
Engineering & Construction – 2.4% | | | | |||||||||
China Communications Construction Co. Ltd. Class A | | | | | 13,700 | | | | | | 31,492 | |
China Railway Construction Corp. Ltd. Class A | | | | | 37,000 | | | | | | 65,884 | |
China Railway Group Ltd. Class A | | | | | 50,700 | | | | | | 65,845 | |
| | | | | | | | | | | 163,221 | |
Home Furnishings – 3.3% | | | | |||||||||
Midea Group Co. Ltd. Class A | | | | | 34,290 | | | | | | 227,503 | |
Insurance – 14.3% | | | | |||||||||
China Life Insurance Co. Ltd. Class A | | | | | 14,345 | | | | | | 59,745 | |
China Pacific Insurance Group Co. Ltd. Class A | | | | | 24,417 | | | | | | 135,384 | |
New China Life Insurance Co. Ltd. Class A | | | | | 5,546 | | | | | | 47,188 | |
Ping An Insurance Group Co. of China Ltd. Class A | | | | | 89,536 | | | | | | 728,069 | |
| | | | | | | | | | | 970,386 | |
Iron/Steel – 0.8% | | | | |||||||||
Baoshan Iron & Steel Co. Ltd. Class A | | | | | 50,800 | | | | | | 56,364 | |
Miscellaneous Manufacturer – 1.6% | | | | |||||||||
CRRC Corp. Ltd. Class A | | | | | 72,430 | | | | | | 105,810 | |
Oil & Gas – 1.9% | | | | |||||||||
China Petroleum & Chemical Corp. Class A | | | | | 93,000 | | | | | | 82,382 | |
PetroChina Co. Ltd. Class A | | | | | 40,000 | | | | | | 47,985 | |
| | | | | | | | | | | 130,367 | |
Pharmaceuticals – 1.6% | | | | |||||||||
Jiangsu Hengrui Medicine Co. Ltd. Class A | | | | | 11,700 | | | | | | 105,275 | |
Real Estate – 8.2% | | | | |||||||||
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | | | | | 20,000 | | | | | | 54,891 | |
China State Construction Engineering Corp. Ltd. Class A | | | | | 116,700 | | | | | | 162,598 | |
China Vanke Co. Ltd. Class A | | | | | 63,000 | | | | | | 248,294 | |
Poly Real Estate Group Co. Ltd. Class A | | | | | 56,900 | | | | | | 88,847 | |
| | | | | | | | | | | 554,630 | |
Shipbuilding – 1.2% | | | | |||||||||
China Shipbuilding Industry Co. Ltd. Class A(a)(b)(c) | | | | | 89,400 | | | | | | 83,354 | |
|
CSOP FTSE CHINA A50 ETF
SCHEDULE OF INVESTMENTS – (concluded)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Telecommunications – 1.2% | | | | |||||||||
China United Network Communications Ltd. Class A(a) | | | | | 74,300 | | | | | $ | 82,773 | |
Total Common Stocks (Cost $5,731,144) | | | | | | | | | | | 6,772,378 | |
Total Investments – 99.7% (Cost $5,731,144)# | | | | | | | | | | | 6,772,378 | |
Other assets in excess of liabilities – 0.3% | | | | | | | | | | | 20,499 | |
Net Assets – 100.0% | | | | | | | | | | $ | 6,792,877 | |
|
| Gross unrealized appreciation | | | | $ | 1,202,073 | | |
| Gross unrealized depreciation | | | | | (603,916) | | |
| Net unrealized appreciation | | | | $ | 598,157 | | |
|
| Summary of Investments by Sector^ | | | | | | | |
| Financials | | | | | 59.7% | | |
| Industrials | | | | | 8.0 | | |
| Consumer Staples | | | | | 8.0 | | |
| Consumer Discretionary | | | | | 6.0 | | |
| Real Estate | | | | | 5.8 | | |
| Information Technology | | | | | 3.9 | | |
| Energy | | | | | 2.8 | | |
| Utilities | | | | | 1.9 | | |
| Health Care | | | | | 1.6 | | |
| Telecommunication Services | | | | | 1.2 | | |
| Materials | | | | | 0.8 | | |
| Other assets in excess of liabilities | | | | | 0.3 | | |
| | | | | | 100.0% | | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS
September 30, 2017
| | | Shares | | | Market Value | ||||||
Common Stocks – 98.6% | | | | |||||||||
China – 98.6% | | | | |||||||||
Advertising – 0.2% | | | | |||||||||
Hunan TV & Broadcast Intermediary Co. Ltd. Class A | | | | | 1,400 | | | | | $ | 2,218 | |
Aerospace/Defense – 1.0% | | | | |||||||||
AECC Aero-Engine Control Co. Ltd. Class A | | | | | 700 | | | | | | 2,099 | |
AECC Aviation Power Co. Ltd. Class A | | | | | 700 | | | | | | 3,286 | |
AVIC Aircraft Co. Ltd. Class A | | | | | 1,400 | | | | | | 4,042 | |
AVIC Helicopter Co. Ltd. Class A | | | | | 300 | | | | | | 1,969 | |
Jihua Group Corp. Ltd. Class A | | | | | 2,100 | | | | | | 2,636 | |
| | | | | | | | | | | 14,032 | |
Agriculture – 0.3% | | | | |||||||||
Beijing Dabeinong Technology Group Co. Ltd. Class A | | | | | 1,800 | | | | | | 1,665 | |
Heilongjiang Agriculture Co. Ltd. Class A | | | | | 900 | | | | | | 1,612 | |
Hunan Dakang International Food & Agriculture Co. Ltd. Class A(a) | | | | | 1,960 | | | | | | 915 | |
| | | | | | | | | | | 4,192 | |
Airlines – 1.2% | | | | |||||||||
Air China Ltd. Class A | | | | | 3,000 | | | | | | 3,928 | |
China Eastern Airlines Corp. Ltd. Class A | | | | | 3,700 | | | | | | 3,755 | |
China Southern Airlines Co. Ltd. Class A | | | | | 3,800 | | | | | | 4,718 | |
Hainan Airlines Holding Co. Ltd. Class A | | | | | 6,400 | | | | | | 3,123 | |
Spring Airlines Co. Ltd. Class A | | | | | 300 | | | | | | 1,505 | |
| | | | | | | | | | | 17,029 | |
Auto Manufacturers – 2.8% | | | | |||||||||
Beiqi Foton Motor Co. Ltd. Class A | | | | | 3,600 | | | | | | 1,676 | |
BYD Co. Ltd. Class A | | | | | 700 | | | | | | 7,178 | |
China Avionics Systems Co. Ltd. Class A | | | | | 800 | | | | | | 1,952 | |
Chongqing Changan Automobile Co. Ltd. Class A | | | | | 2,000 | | | | | | 4,255 | |
FAW CAR Co. Ltd. Class A(a) | | | | | 800 | | | | | | 1,653 | |
Hubei Energy Group Co. Ltd. Class A | | | | | 2,900 | | | | | | 2,168 | |
Pang Da Automobile Trade Co. Ltd. Class A(a) | | | | | 3,500 | | | | | | 1,498 | |
SAIC Motor Corp. Ltd. Class A | | | | | 3,500 | | | | | | 15,864 | |
Zhengzhou Yutong Bus Co. Ltd. Class A | | | | | 1,200 | | | | | | 4,432 | |
| | | | | | | | | | | 40,676 | |
Auto Parts & Equipment – 1.4% | | | | |||||||||
Fuyao Glass Industry Group Co. Ltd. Class A | | | | | 1,100 | | | | | | 4,210 | |
Huayu Automotive Systems Co. Ltd. Class A | | | | | 1,100 | | | | | | 3,724 | |
Wanxiang Qianchao Co. Ltd. Class A | | | | | 1,440 | | | | | | 2,616 | |
Weichai Power Co. Ltd. Class A | | | | | 3,200 | | | | | | 3,599 |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Auto Parts & Equipment – 1.4% (continued) | | | | |||||||||
Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co. Ltd. Class A | | | | | 1,200 | | | | | $ | 4,018 | |
Zhejiang Wanfeng Auto Wheel Co. Ltd. Class A | | | | | 840 | | | | | | 2,465 | |
| | | | | | | | | | | 20,632 | |
Banks – 15.0% | | | | |||||||||
Agricultural Bank of China Ltd. Class A | | | | | 33,800 | | | | | | 19,385 | |
Bank of Beijing Co. Ltd. Class A | | | | | 8,640 | | | | | | 9,677 | |
Bank of China Ltd. Class A | | | | | 21,200 | | | | | | 13,114 | |
Bank of Communications Co. Ltd. Class A | | | | | 18,700 | | | | | | 17,744 | |
Bank of Nanjing Co. Ltd. Class A | | | | | 4,536 | | | | | | 5,387 | |
Bank of Ningbo Co. Ltd. Class A | | | | | 2,730 | | | | | | 6,468 | |
China CITIC Bank Corp. Ltd. Class A | | | | | 4,200 | | | | | | 3,973 | |
China Construction Bank Corp. Class A | | | | | 5,100 | | | | | | 5,337 | |
China Everbright Bank Co. Ltd. Class A | | | | | 18,900 | | | | | | 11,492 | |
China Merchants Bank Co. Ltd. Class A | | | | | 8,200 | | | | | | 31,456 | |
Huaxia Bank Co. Ltd. Class A | | | | | 5,040 | | | | | | 7,015 | |
Industrial & Commercial Bank of China Ltd. Class A | | | | | 23,200 | | | | | | 20,900 | |
Industrial Bank Co. Ltd. Class A | | | | | 9,800 | | | | | | 25,440 | |
Ping An Bank Co. Ltd. Class A | | | | | 8,160 | | | | | | 13,611 | |
Shanghai Pudong Development Bank Co. Ltd. Class A | | | | | 12,584 | | | | | | 24,316 | |
| | | | | | | | | | | 215,315 | |
Beverages – 4.9% | | | | |||||||||
Beijing Yanjing Brewery Co. Ltd. Class A | | | | | 1,500 | | | | | | 1,451 | |
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A | | | | | 400 | | | | | | 6,096 | |
Kweichow Moutai Co. Ltd. Class A | | | | | 500 | | | | | | 38,859 | |
Luzhou Laojiao Co. Ltd. Class A | | | | | 600 | | | | | | 5,054 | |
Tsingtao Brewery Co. Ltd. Class A | | | | | 400 | | | | | | 1,850 | |
Wuliangye Yibin Co. Ltd. Class A | | | | | 2,000 | | | | | | 17,200 | |
| | | | | | | | | | | 70,510 | |
Biotechnology – 0.3% | | | | |||||||||
Hualan Biological Engineering, Inc. Class A | | | | | 480 | | | | | | 1,961 | |
MeiHua Holdings Group Co. Ltd. Class A | | | | | 3,100 | | | | | | 2,979 | |
| | | | | | | | | | | 4,940 | |
Building Materials – 1.3% | | | | |||||||||
Anhui Conch Cement Co. Ltd. Class A | | | | | 2,100 | | | | | | 7,873 | |
Gree Electric Appliances, Inc. of Zhuhai Class A | | | | | 1,200 | | | | | | 6,828 | |
Luxin Venture Capital Group Co. Ltd. Class A | | | | | 400 | | | | | | 1,095 | |
Suzhou Gold Mantis Construction Decoration Co. Ltd. Class A | | | | | 1,500 | | | | | | 2,486 | |
| | | | | | | | | | | 18,282 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Chemicals – 2.1% | | | | |||||||||
China Hainan Rubber Industry Group Co. Ltd. Class A(a) | | | | | 2,200 | | | | | $ | 2,124 | |
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A | | | | | 4,000 | | | | | | 3,033 | |
Kingenta Ecological Engineering Group Co. Ltd. Class A | | | | | 1,800 | | | | | | 2,175 | |
Qinghai Salt Lake Industry Co. Ltd. Class A | | | | | 900 | | | | | | 2,557 | |
Sinopec Shanghai Petrochemical Co. Ltd. Class A | | | | | 3,200 | | | | | | 3,032 | |
Tianqi Lithium Corp. Class A | | | | | 500 | | | | | | 5,276 | |
Wanhua Chemical Group Co. Ltd. Class A | | | | | 1,440 | | | | | | 9,113 | |
Zhejiang Longsheng Group Co. Ltd. Class A | | | | | 1,800 | | | | | | 2,773 | |
| | | | | | | | | | | 30,083 | |
Coal – 1.1% | | | | |||||||||
China Shenhua Energy Co. Ltd. Class A | | | | | 2,900 | | | | | | 9,117 | |
Jizhong Energy Resources Co. Ltd. Class A | | | | | 1,900 | | | | | | 1,951 | |
Shanxi Lu’an Environmental Energy Development Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,462 | |
Shanxi Xishan Coal & Electricity Power Co. Ltd. Class A | | | | | 1,700 | | | | | | 2,632 | |
| | | | | | | | | | | 16,162 | |
Commercial Services – 0.5% | | | | |||||||||
Dalian Port PDA Co. Ltd. Class A | | | | | 4,140 | | | | | | 1,815 | |
Eternal Asia Supply Chain Management Ltd. Class A | | | | | 1,000 | | | | | | 1,263 | |
Shanghai International Port Group Co. Ltd. Class A | | | | | 3,300 | | | | | | 3,315 | |
Yingkou Port Liability Co. Ltd. Class A | | | | | 2,900 | | | | | | 1,489 | |
| | | | | | | | | | | 7,882 | |
Computers – 2.3% | | | | |||||||||
Aisino Corp. Class A | | | | | 1,000 | | | | | | 2,824 | |
BOE Technology Group Co. Ltd. Class A | | | | | 16,100 | | | | | | 10,636 | |
Chengdu Santai Holding Group Co. Ltd. Class A(a) | | | | | 750 | | | | | | 825 | |
Dawning Information Industry Co. Ltd. Class A | | | | | 300 | | | | | | 1,662 | |
DHC Software Co. Ltd. Class A | | | | | 3,000 | | | | | | 5,063 | |
Fujian Newland Computer Co. Ltd. Class A | | | | | 900 | | | | | | 3,047 | |
GRG Banking Equipment Co. Ltd. Class A | | | | | 900 | | | | | | 1,058 | |
Inspur Electronic Information Industry Co. Ltd. Class A | | | | | 650 | | | | | | 1,873 | |
Tsinghua Tongfang Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,931 | |
Venustech Group, Inc. Class A | | | | | 800 | | | | | | 2,659 | |
| | | | | | | | | | | 32,578 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Distribution/Wholesale – 0.5% | | | | |||||||||
Liaoning Cheng Da Co. Ltd. Class A(a) | | | | | 800 | | | | | $ | 2,175 | |
Minmetals Development Co. Ltd. Class A(a) | | | | | 500 | | | | | | 1,034 | |
Shanghai Jahwa United Co. Ltd. Class A(b)(d) | | | | | 400 | | | | | | 1,932 | |
Sinochem International Corp. Class A | | | | | 1,100 | | | | | | 1,695 | |
| | | | | | | | | | | 6,836 | |
Diversified Financial Services – 8.6% | | | | |||||||||
Anxin Trust Co. Ltd. Class A | | | | | 1,980 | | | | | | 3,761 | |
Bohai Financial Investment Holding Co. Ltd. Class A | | | | | 2,700 | | | | | | 2,684 | |
Changjiang Securities Co. Ltd. Class A | | | | | 2,600 | | | | | | 3,802 | |
China Merchants Securities Co. Ltd. Class A | | | | | 2,800 | | | | | | 8,992 | |
CITIC Securities Co. Ltd. Class A | | | | | 4,700 | | | | | | 12,836 | |
Dongxing Securities Co. Ltd. Class A | | | | | 900 | | | | | | 2,485 | |
Everbright Securities Co. Ltd. Class A | | | | | 1,600 | | | | | | 3,731 | |
Founder Securities Co. Ltd. Class A(a) | | | | | 4,400 | | | | | | 5,681 | |
GF Securities Co. Ltd. Class A | | | | | 2,800 | | | | | | 7,979 | |
Guosen Securities Co. Ltd. Class A | | | | | 2,200 | | | | | | 4,522 | |
Guotai Junan Securities Co. Ltd. Class A | | | | | 2,400 | | | | | | 7,794 | |
Guoyuan Securities Co. Ltd. Class A | | | | | 1,650 | | | | | | 3,491 | |
Haitong Securities Co. Ltd. Class A | | | | | 3,900 | | | | | | 8,654 | |
Huatai Securities Co. Ltd. Class A | | | | | 2,600 | | | | | | 8,830 | |
Industrial Securities Co. Ltd. Class A | | | | | 3,560 | | | | | | 4,527 | |
Northeast Securities Co. Ltd. Class A | | | | | 1,300 | | | | | | 2,010 | |
Orient Securities Co. Ltd. Class A | | | | | 2,700 | | | | | | 6,510 | |
Pacific Securities Co. Ltd. Class A | | | | | 3,525 | | | | | | 2,207 | |
SDIC Essence Holdings Co. Ltd. Class A | | | | | 1,300 | | | | | | 3,183 | |
Sealand Securities Co. Ltd. Class A | | | | | 2,250 | | | | | | 1,986 | |
Shanxi Securities Co. Ltd. Class A | | | | | 1,200 | | | | | | 2,036 | |
Shenwan Hongyuan Group Co. Ltd. Class A | | | | | 8,910 | | | | | | 7,799 | |
Sinolink Securities Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,818 | |
SooChow Securities Co. Ltd. Class A | | | | | 1,300 | | | | | | 2,383 | |
Southwest Securities Co. Ltd. Class A | | | | | 3,000 | | | | | | 2,622 | |
| | | | | | | | | | | 123,323 | |
Electric – 3.7% | | | | |||||||||
China National Nuclear Power Co. Ltd. Class A | | | | | 6,200 | | | | | | 6,944 | |
China Yangtze Power Co. Ltd. Class A | | | | | 7,200 | | | | | | 16,291 | |
GD Power Development Co. Ltd. Class A | | | | | 9,400 | | | | | | 4,685 | |
Huadian Power International Corp. Ltd. Class A | | | | | 4,400 | | | | | | 2,907 | |
Huaneng Power International, Inc. Class A | | | | | 3,700 | | | | | | 3,855 | |
Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd. Class A | | | | | 3,100 | | | | | | 1,438 |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Electric – 3.7% (continued) | | | | |||||||||
SDIC Power Holdings Co. Ltd. Class A | | | | | 3,600 | | | | | $ | 3,967 | |
Shanghai Electric Power Co. Ltd. Class A | | | | | 1,200 | | | | | | 2,011 | |
Shenergy Co. Ltd. Class A | | | | | 2,500 | | | | | | 2,237 | |
Shenzhen Energy Group Co. Ltd. Class A | | | | | 2,100 | | | | | | 2,034 | |
Sichuan Chuantou Energy Co. Ltd. Class A | | | | | 2,300 | | | | | | 3,253 | |
Zhejiang Zheneng Electric Power Co. Ltd. Class A | | | | | 4,700 | | | | | | 3,775 | |
| | | | | | | | | | | 53,397 | |
Electrical Components & Equipment – 1.2% | | | | |||||||||
AVIC Jonhon OptronicTechnology Co. Ltd. Class A | | | | | 390 | | | | | | 2,178 | |
Changyuan Group Ltd. Class A | | | | | 720 | | | | | | 2,151 | |
China XD Electric Co. Ltd. Class A | | | | | 2,800 | | | | | | 2,295 | |
Chinese Universe Publishing & Media Co. Ltd. Class A | | | | | 800 | | | | | | 2,657 | |
Dongfang Electric Corp. Ltd. Class A(a) | | | | | 1,100 | | | | | | 1,723 | |
Xinjiang Goldwind Science & Technology Co. Ltd. Class A | | | | | 1,430 | | | | | | 2,804 | |
Zhejiang Chint Electrics Co. Ltd. Class A | | | | | 600 | | | | | | 1,927 | |
Zhongshan Broad Ocean Motor Co. Ltd. Class A | | | | | 900 | | | | | | 1,156 | |
| | | | | | | | | | | 16,891 | |
Electronics – 3.1% | | | | |||||||||
Dongxu Optoelectronic Technology Co. Ltd. Class A | | | | | 1,800 | | | | | | 3,059 | |
GoerTek, Inc. Class A | | | | | 1,600 | | | | | | 4,862 | |
Hangzhou Hikvision Digital Technology Co. Ltd. Class A | | | | | 4,950 | | | | | | 23,782 | |
Han’s Laser Technology Industry Group Co. Ltd. Class A | | | | | 600 | | | | | | 3,928 | |
Luxshare Precision Industry Co. Ltd. Class A | | | | | 1,575 | | | | | | 4,886 | |
Tianjin Zhonghuan Semiconductor Co. Ltd. Class A(c)(d) | | | | | 2,300 | | | | | | 2,845 | |
Unigroup Guoxin Co. Ltd. Class A | | | | | 300 | | | | | | 1,675 | |
| | | | | | | | | | | 45,037 | |
Energy-Alternate Sources – 0.3% | | | | |||||||||
LONGi Green Energy Technology Co. Ltd. Class A | | | | | 1,000 | | | | | | 4,425 | |
Engineering & Construction – 3.2% | | | | |||||||||
China CAMC Engineering Co. Ltd. Class A | | | | | 576 | | | | | | 1,727 | |
China Communications Construction Co. Ltd. Class A | | | | | 2,100 | | | | | | 4,827 | |
China Gezhouba Group Co. Ltd. Class A | | | | | 2,400 | | | | | | 3,740 | |
China National Chemical Engineering Co. Ltd. Class A | | | | | 2,700 | | | | | | 2,753 | |
China Railway Construction Corp. Ltd. Class A | | | | | 3,600 | | | | | | 6,410 | |
China Railway Group Ltd. Class A | | | | | 7,400 | | | | | | 9,611 | |
Metallurgical Corp. of China Ltd. Class A | | | | | 6,700 | | | | | | 5,150 | |
Power Construction Corp. of China Ltd. Class A | | | | | 4,000 | | | | | | 4,823 |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Engineering & Construction – 3.2% (continued) | | | | |||||||||
Shanghai Construction Group Co. Ltd. Class A | | | | | 3,142 | | | | | $ | 1,807 | |
Shanghai International Airport Co. Ltd. Class A | | | | | 500 | | | | | | 2,851 | |
Shanghai Tunnel Engineering Co. Ltd. Class A | | | | | 1,700 | | | | | | 2,473 | |
| | | | | | | | | | | 46,172 | |
Entertainment – 0.6% | | | | |||||||||
Shenzhen Overseas Chinese Town Co. Ltd. Class A | | | | | 3,400 | | | | | | 4,171 | |
Wanda Film Holding Co. Ltd. Class A(c)(d) | | | | | 500 | | | | | | 3,907 | |
| | | | | | | | | | | 8,078 | |
Environmental Control – 0.8% | | | | |||||||||
Beijing Capital Co. Ltd. Class A | | | | | 2,600 | | | | | | 2,498 | |
Beijing Orient Landscape & Environment Co. Ltd. Class A | | | | | 1,250 | | | | | | 3,943 | |
Beijing SPC Environment Protection Tech Co. Ltd. Class A | | | | | 1,000 | | | | | | 3,273 | |
Tus-Sound Environmental Resources Co. Ltd. Class A | | | | | 400 | | | | | | 2,159 | |
| | | | | | | | | | | 11,873 | |
Food – 2.1% | | | | |||||||||
COFCO Tunhe Sugar Co. Ltd. Class A | | | | | 1,100 | | | | | | 1,561 | |
Henan Shuanghui Investment & Development Co. Ltd. Class A | | | | | 1,700 | | | | | | 6,355 | |
Inner Mongolia Yili Industrial Group Co. Ltd. Class A | | | | | 3,000 | | | | | | 12,387 | |
Muyuan Foodstuff Co. Ltd. Class A | | | | | 600 | | | | | | 3,339 | |
Shenzhen Agricultural Products Co. Ltd. Class A | | | | | 900 | | | | | | 1,192 | |
Yonghui Superstores Co. Ltd. Class A | | | | | 4,400 | | | | | | 5,278 | |
| | | | | | | | | | | 30,112 | |
Healthcare-Products – 0.2% | | | | |||||||||
Da An Gene Co. Ltd. of Sun Yat-Sen University Class A | | | | | 440 | | | | | | 1,325 | |
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd. Class A | | | | | 450 | | | | | | 1,386 | |
| | | | | | | | | | | 2,711 | |
Healthcare-Services – 0.4% | | | | |||||||||
Shanghai RAAS Blood Products Co. Ltd. Class A | | | | | 1,620 | | | | | | 5,062 | |
Holding Companies-Diversified – 0.7% | | | | |||||||||
Avic Capital Co. Ltd. Class A | | | | | 3,400 | | | | | | 2,986 | |
China Baoan Group Co. Ltd. Class A | | | | | 1,215 | | | | | | 1,640 | |
Humanwell Healthcare Group Co. Ltd. Class A | | | | | 700 | | | | | | 1,904 | |
Zhejiang China Commodities City Group Co. Ltd. Class A | | | | | 2,900 | | | | | | 3,061 | |
| | | | | | | | | | | 9,591 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Home Furnishings – 2.4% | | | | |||||||||
Hisense Electric Co. Ltd. Class A | | | | | 700 | | | | | $ | 1,651 | |
Midea Group Co. Ltd. Class A | | | | | 3,300 | | | | | | 21,895 | |
Qingdao Haier Co. Ltd. Class A | | | | | 2,900 | | | | | | 6,570 | |
Sichuan Changhong Electric Co. Ltd. Class A | | | | | 2,400 | | | | | | 1,265 | |
TCL Corp. Class A | | | | | 5,900 | | | | | | 3,153 | |
| | | | | | | | | | | 34,534 | |
Insurance – 4.2% | | | | |||||||||
China Life Insurance Co. Ltd. Class A | | | | | 1,300 | | | | | | 5,414 | |
China Pacific Insurance Group Co. Ltd. Class A | | | | | 2,500 | | | | | | 13,862 | |
New China Life Insurance Co. Ltd. Class A | | | | | 700 | | | | | | 5,956 | |
Ping An Insurance Group Co. of China Ltd. Class A | | | | | 4,300 | | | | | | 34,966 | |
| | | | | | | | | | | 60,198 | |
Internet – 0.2% | | | | |||||||||
People.cn Co. Ltd. Class A | | | | | 600 | | | | | | 1,247 | |
Searainbow Holding Corp. Class A(a)(c)(d) | | | | | 500 | | | | | | 1,965 | |
| | | | | | | | | | | 3,212 | |
Iron/Steel – 1.9% | | | | |||||||||
Angang Steel Co. Ltd. Class A | | | | | 2,700 | | | | | | 2,655 | |
Baoshan Iron & Steel Co. Ltd. Class A | | | | | 8,824 | | | | | | 9,791 | |
Gansu Gangtai Holding Group Co. Ltd. Class A | | | | | 700 | | | | | | 1,459 | |
Hesteel Co. Ltd. Class A | | | | | 5,700 | | | | | | 3,765 | |
Inner Mongolia BaoTou Steel Union Co. Ltd. Class A(a) | | | | | 18,060 | | | | | | 7,321 | |
Shanxi Taigang Stainless Steel Co. Ltd. Class A | | | | | 3,000 | | | | | | 2,275 | |
| | | | | | | | | | | 27,266 | |
Leisure Time – 0.4% | | | | |||||||||
China International Travel Service Corp. Ltd. Class A | | | | | 1,000 | | | | | | 5,178 | |
Machinery-Construction & Mining – 0.6% | | | | |||||||||
Sany Heavy Industry Co. Ltd. Class A | | | | | 4,100 | | | | | | 4,709 | |
XCMG Construction Machinery Co. Ltd. Class A | | | | | 3,800 | | | | | | 2,100 | |
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class A | | | | | 3,400 | | | | | | 2,287 | |
| | | | | | | | | | | 9,096 | |
Machinery-Diversified – 0.8% | | | | |||||||||
China Shipbuilding Industry Group Power Co. Ltd. Class A | | | | | 600 | | | | | | 2,256 | |
Leo Group Co. Ltd. Class A | | | | | 4,900 | | | | | | 2,229 | |
NARI Technology Co. Ltd. Class A | | | | | 1,300 | | | | | | 3,225 | |
Shanghai Electric Group Co. Ltd. Class A(a) | | | | | 3,200 | | | | | | 3,853 | |
| | | | | | | | | | | 11,563 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Media – 1.1% | | | | |||||||||
China Media Group Class A | | | | | 1,100 | | | | | $ | 1,665 | |
China South Publishing & Media Group Co. Ltd. Class A | | | | | 1,000 | | | | | | 2,292 | |
CITIC Guoan Information Industry Co. Ltd. Class A | | | | | 2,000 | | | | | | 3,363 | |
Jiangsu Broadcasting Cable Information Network Corp. Ltd. Class A(c)(d) | | | | | 1,430 | | | | | | 2,269 | |
Jiangsu Phoenix Publishing & Media Corp. Ltd. Class A | | | | | 1,100 | | | | | | 1,528 | |
Shanghai Oriental Pearl Group Co. Ltd. Class A | | | | | 1,400 | | | | | | 4,265 | |
| | | | | | | | | | | 15,382 | |
Metal Fabricate/Hardware – 0.3% | | | | |||||||||
Jiangsu Shagang Co. Ltd. Class A(a)(c)(d) | | | | | 800 | | | | | | 1,936 | |
Xinxing Ductile Iron Pipes Co. Ltd. Class A | | | | | 2,000 | | | | | | 1,898 | |
| | | | | | | | | | | 3,834 | |
Mining – 2.7% | | | | |||||||||
Aluminum Corp. of China Ltd. Class A(a)(c)(d) | | | | | 5,300 | | | | | | 6,438 | |
China Northern Rare Earth Group High-Tech Co. Ltd. Class A | | | | | 1,700 | | | | | | 4,117 | |
Jiangxi Copper Co. Ltd. Class A | | | | | 1,100 | | | | | | 3,049 | |
Jinduicheng Molybdenum Co. Ltd. Class A(a) | | | | | 1,400 | | | | | | 1,804 | |
Shandong Gold Mining Co. Ltd. Class A | | | | | 700 | | | | | | 3,303 | |
Shandong Nanshan Aluminum Co. Ltd. Class A | | | | | 3,050 | | | | | | 1,827 | |
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. Class A | | | | | 1,200 | | | | | | 2,185 | |
Tongling Nonferrous Metals Group Co. Ltd. Class A(a) | | | | | 4,700 | | | | | | 2,131 | |
Western Mining Co. Ltd. Class A | | | | | 2,400 | | | | | | 3,322 | |
Xiamen Tungsten Co. Ltd. Class A | | | | | 600 | | | | | | 2,894 | |
Zhongjin Gold Corp. Ltd. Class A | | | | | 1,888 | | | | | | 3,039 | |
Zijin Mining Group Co. Ltd. Class A | | | | | 7,500 | | | | | | 4,358 | |
| | | | | | | | | | | 38,467 | |
Miscellaneous Manufacturer – 1.8% | | | | |||||||||
Anhui Zhongding Sealing Parts Co. Ltd. Class A | | | | | 600 | | | | | | 1,878 | |
CRRC Corp. Ltd. Class A | | | | | 10,900 | | | | | | 15,923 | |
Kangde Xin Composite Material Group Co. Ltd. Class A | | | | | 1,199 | | | | | | 3,818 | |
Shenzhen O-film Tech Co. Ltd. Class A | | | | | 1,250 | | | | | | 3,977 | |
| | | | | | | | | | | 25,596 | |
Oil & Gas – 1.4% | | | | |||||||||
China Petroleum & Chemical Corp. Class A | | | | | 13,100 | | | | | | 11,604 | |
PetroChina Co. Ltd. Class A | | | | | 5,100 | | | | | | 6,118 | |
Wintime Energy Co. Ltd. Class A | | | | | 5,000 | | | | | | 2,702 | |
| | | | | | | | | | | 20,424 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Oil & Gas Services – 0.2% | | | | |||||||||
Offshore Oil Engineering Co. Ltd. Class A | | | | | 2,300 | | | | | $ | 2,127 | |
Yantai Jereh Oilfield Services Group Co. Ltd. Class A | | | | | 500 | | | | | | 1,164 | |
| | | | | | | | | | | 3,291 | |
Packaging & Containers – 0.1% | | | | |||||||||
Org Packaging Co. Ltd. Class A(a) | | | | | 1,200 | | | | | | 1,169 | |
Pharmaceuticals – 5.3% | | | | |||||||||
Beijing SL Pharmaceutical Co. Ltd. Class A | | | | | 400 | | | | | | 1,631 | |
Beijing Tongrentang Co. Ltd. Class A | | | | | 800 | | | | | | 3,893 | |
China National Accord Medicines Corp. Ltd. Class A | | | | | 200 | | | | | | 2,032 | |
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. Class A | | | | | 500 | | | | | | 2,097 | |
Dong-E-E-Jiao Co. Ltd. Class A | | | | | 400 | | | | | | 3,899 | |
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd. Class A | | | | | 600 | | | | | | 2,505 | |
Guizhou Bailing Group Pharmaceutical Co. Ltd. Class A | | | | | 700 | | | | | | 1,826 | |
Harbin Gloria Pharmaceuticals Co. Ltd. Class A | | | | | 1,200 | | | | | | 1,209 | |
Harbin Pharmaceutical Group Co. Ltd. Class A(b)(d) | | | | | 1,270 | | | | | | 1,108 | |
Huadong Medicine Co. Ltd. Class A | | | | | 400 | | | | | | 2,947 | |
Jiangsu Hengrui Medicine Co. Ltd. Class A | | | | | 1,584 | | | | | | 14,253 | |
Jilin Aodong Pharmaceutical Group Co. Ltd. Class A | | | | | 650 | | | | | | 2,191 | |
Kangmei Pharmaceutical Co. Ltd. Class A | | | | | 2,300 | | | | | | 6,934 | |
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class A | | | | | 1,000 | | | | | | 5,133 | |
Shenzhen Hepalink Pharmaceutical Group Co. Ltd. Class A | | | | | 640 | | | | | | 1,652 | |
Shenzhen Salubris Pharmaceuticals Co. Ltd. Class A | | | | | 500 | | | | | | 2,320 | |
Shijiazhuang Yiling Pharmaceutical Co. Ltd. Class A | | | | | 600 | | | | | | 1,466 | |
Sichuan Kelun Pharmaceutical Co. Ltd. Class A | | | | | 700 | | | | | | 1,915 | |
Tasly Pharmaceutical Group Co. Ltd. Class A | | | | | 600 | | | | | | 3,167 | |
Tonghua Dongbao Pharmaceutical Co. Ltd. Class A | | | | | 864 | | | | | | 2,504 | |
Yunnan Baiyao Group Co. Ltd. Class A | | | | | 500 | | | | | | 6,809 | |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A | | | | | 300 | | | | | | 2,624 | |
Zhejiang NHU Co. Ltd. Class A | | | | | 600 | | | | | | 2,303 | |
| | | | | | | | | | | 76,418 | |
Pipelines – 0.1% | | | | |||||||||
Guanghui Energy Co. Ltd. Class A | | | | | 2,700 | | | | | | 1,707 | |
Real Estate – 7.0% | | | | |||||||||
Beijing Capital Development Co. Ltd. Class A | | | | | 1,200 | | | | | | 1,996 | |
Beijing Urban Construction Investment & Development Co. Ltd. Class A | | | | | 900 | | | | | | 2,104 | |
China Fortune Land Development Co. Ltd. Class A | | | | | 1,100 | | | | | | 5,133 | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | | | | | 3,162 | | | | | | 8,678 | |
China State Construction Engineering Corp. Ltd. Class A | | | | | 14,300 | | | | | | 19,924 |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Real Estate – 7.0% (continued) | | | | |||||||||
China Vanke Co. Ltd. Class A | | | | | 5,000 | | | | | $ | 19,706 | |
Financial Street Holdings Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,928 | |
Gemdale Corp. Class A | | | | | 2,400 | | | | | | 4,133 | |
Oceanwide Holdings Co. Ltd. Class A | | | | | 1,700 | | | | | | 2,073 | |
Poly Real Estate Group Co. Ltd. Class A | | | | | 5,700 | | | | | | 8,900 | |
RiseSun Real Estate Development Co. Ltd. Class A | | | | | 1,800 | | | | | | 2,584 | |
Shanghai Jinqiao Export Processing Zone Development Co. Ltd. Class A | | | | | 500 | | | | | | 1,321 | |
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class A | | | | | 1,980 | | | | | | 6,647 | |
Shanghai SMI Holding Co. Ltd. Class A(a) | | | | | 1,252 | | | | | | 1,846 | |
Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A | | | | | 900 | | | | | | 2,266 | |
Suning Universal Co. Ltd. Class A | | | | | 2,500 | | | | | | 2,061 | |
Tahoe Group Co. Ltd. Class A | | | | | 500 | | | | | | 1,324 | |
Xinhu Zhongbao Co. Ltd. Class A(a) | | | | | 3,200 | | | | | | 2,061 | |
Youngor Group Co. Ltd. Class A | | | | | 1,400 | | | | | | 2,060 | |
Zhongtian Financial Group Co. Ltd. Class A(c)(d) | | | | | 2,100 | | | | | | 2,317 | |
| | | | | | | | | | | 100,062 | |
Retail – 1.1% | | | | |||||||||
Nanjing Xinjiekou Department Store Co. Ltd. Class A(c)(d) | | | | | 400 | | | | | | 2,315 | |
Shanghai Bailian Group Co. Ltd. Class A | | | | | 900 | | | | | | 2,050 | |
Shanghai Pharmaceuticals Holding Co. Ltd. Class A | | | | | 1,000 | | | | | | 3,564 | |
Suning Commerce Group Co. Ltd. Class A | | | | | 3,900 | | | | | | 7,671 | |
| | | | | | | | | | | 15,600 | |
Semiconductors – 0.5% | | | | |||||||||
Sanan Optoelectronics Co. Ltd. Class A | | | | | 1,920 | | | | | | 6,671 | |
Shipbuilding – 0.9% | | | | |||||||||
China CSSC Holdings Ltd. Class A(a)(b)(d) | | | | | 800 | | | | | | 2,963 | |
China Shipbuilding Industry Co. Ltd. Class A(a)(c)(d) | | | | | 8,800 | | | | | �� | 8,205 | |
CSSC Offshore & Marine Engineering Group Co. Ltd. Class A(b)(d) | | | | | 400 | | | | | | 1,601 | |
| | | | | | | | | | | 12,769 | |
Software – 1.8% | | | | |||||||||
Beijing Shiji Information Technology Co. Ltd. Class A | | | | | 600 | | | | | | 2,119 | |
Hangzhou Lianluo Interactive Information Technology Co. Ltd. Class A | | | | | 1,500 | | | | | | 1,991 | |
Hundsun Technologies, Inc. Class A | | | | | 300 | | | | | | 2,299 | |
Iflytek Co. Ltd. Class A | | | | | 500 | | | | | | 4,027 | |
Jiangsu Protruly Vision Technology Group Co. Ltd. Class A(a)(c)(d) | | | | | 1,200 | | | | | | 1,872 | |
NavInfo Co. Ltd. Class A | | | | | 1,050 | | | | | | 4,039 | |
Neusoft Corp. Class A | | | | | 600 | | | | | | 1,537 |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Software – 1.8% (continued) | | | | |||||||||
Shenzhen Kingdom Sci-Tech Co. Ltd. Class A | | | | | 400 | | | | | $ | 1,193 | |
Yonyou Network Technology Co. Ltd. Class A | | | | | 700 | | | | | | 2,486 | |
Zhejiang Dahua Technology Co. Ltd. Class A | | | | | 1,600 | | | | | | 5,782 | |
| | | | | | | | | | | 27,345 | |
Telecommunications – 2.1% | | | | |||||||||
Addsino Co. Ltd. Class A | | | | | 1,400 | | | | | | 2,516 | |
China Spacesat Co. Ltd. Class A | | | | | 600 | | | | | | 2,537 | |
China United Network Communications Ltd. Class A(a) | | | | | 8,500 | | | | | | 9,469 | |
Dr Peng Telecom & Media Group Co. Ltd. Class A | | | | | 700 | | | | | | 2,082 | |
Fiberhome Telecommunication Technologies Co. Ltd. Class A | | | | | 500 | | | | | | 2,448 | |
Guangzhou Haige Communications Group, Inc. Co. Class A | | | | | 1,200 | | | | | | 2,088 | |
Guoxuan High-Tech Co. Ltd. Class A | | | | | 300 | | | | | | 1,428 | |
ZTE Corp. Class A(a) | | | | | 1,800 | | | | | | 7,648 | |
| | | | | | | | | | | 30,216 | |
Toys/Games/Hobbies – 0.1% | | | | |||||||||
Alpha Group Class A | | | | | 700 | | | | | | 1,560 | |
Transportation – 1.7% | | | | |||||||||
China High-Speed Railway Technology Co. Ltd. Class A | | | | | 1,000 | | | | | | 1,356 | |
China Merchants Energy Shipping Co. Ltd. Class A | | | | | 2,800 | | | | | | 2,081 | |
COSCO Shipping Development Co. Ltd. Class A(a) | | | | | 4,000 | | | | | | 2,288 | |
COSCO Shipping Holdings Co. Ltd. Class A(a) | | | | | 3,800 | | | | | | 3,931 | |
Daqin Railway Co. Ltd. Class A | | | | | 7,100 | | | | | | 9,327 | |
Guangshen Railway Co. Ltd. Class A | | | | | 3,000 | | | | | | 2,279 | |
Ningbo Zhoushan Port Co. Ltd. Class A | | | | | 4,100 | | | | | | 3,613 | |
| | | | | | | | | | | 24,875 | |
Water – 0.1% | | | | |||||||||
Guangdong Golden Dragon Development, Inc. Class A | | | | | 500 | | | | | | 1,599 | |
Total Common Stocks (Cost $1,377,566) | | | | | | | | | | | 1,416,071 | |
Total Investments – 98.6% (Cost $1,377,566)# | | | | | | | | | | | 1,416,071 | |
Other assets in excess of liabilities – 1.4% | | | | | | | | | | | 20,049 | |
Net Assets – 100.0% | | | | | | | | | | $ | 1,436,120 | |
|
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
SCHEDULE OF INVESTMENTS – (concluded)
September 30, 2017
| Gross unrealized appreciation | | | | $ | 241,346 | | |
| Gross unrealized depreciation | | | | | (248,355) | | |
| Net unrealized appreciation | | | | $ | (7,009) | | |
|
| Summary of Investments by Sector^ | | | | | | | |
| Financials | | | | | 28.0% | | |
| Industrials | | | | | 15.6 | | |
| Consumer Discretionary | | | | | 10.4 | | |
| Information Technology | | | | | 8.7 | | |
| Materials | | | | | 7.8 | | |
| Consumer Staples | | | | | 7.8 | | |
| Health Care | | | | | 6.5 | | |
| Real Estate | | | | | 5.8 | | |
| Utilities | | | | | 4.2 | | |
| Energy | | | | | 3.0 | | |
| Telecommunication Services | | | | | 0.8 | | |
| Other assets in excess of liabilities | | | | | 1.4 | | |
| | | | | | 100.0% | | |
|
Open Forward Currency Exchange Contracts
Currency | | | Buy Amount | | | Currency | | | (Sell) Amount | | | Counterparty | | | Settlement Date | | | Unrealized Appreciation/ (Depreciation) | | | ||||||||||||||
USD | | | | | 1,464,456 | | | | | | RMB | | | | | | (9,680,084) | | | | Brown Brothers Harriman & Co. | | | 10/10/2017 | | | | $ | 11,786 | | | | ||
USD | | | | | 1,418,186 | | | | | | RMB | | | | | | (9,440,370) | | | | Brown Brothers Harriman & Co. | | | 11/2/2017 | | | | | 3,687 | | | | ||
USD | | | | | 15,748 | | | | | | RMB | | | | | | (103,224) | | | | Brown Brothers Harriman & Co. | | | 10/10/2017 | | | | | 258 | | | | ||
USD | | | | | 15,056 | | | | | | RMB | | | | | | (100,231) | | | | Brown Brothers Harriman & Co. | | | 11/2/2017 | | | | | 38 | | | | ||
RMB | | | | | 96,280 | | | | | | USD | | | | | | (14,547) | | | | Brown Brothers Harriman & Co. | | | 10/10/2017 | | | | | (98) | | | | ||
RMB | | | | | 246,657 | | | | | | USD | | | | | | (37,325) | | | | Brown Brothers Harriman & Co. | | | 10/10/2017 | | | | | (310) | | | | ||
RMB | | | | | 9,440,370 | | | | | | USD | | | | | | (1,420,288) | | | | Brown Brothers Harriman & Co. | | | 10/10/2017 | | | | | (3,591) | | | | ||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | $ | 11,770 | | | | | |
|
RMB — Chinese Renminbi
USD — United States Dollar
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS
September 30, 2017
| | | Shares | | | Market Value | ||||||
Common Stocks – 96.0% | | | | |||||||||
China – 96.0% | | | | |||||||||
Advertising – 0.3% | | | | |||||||||
Focus Media Information Technology Co. Ltd. Class A | | | | | 1,700 | | | | | $ | 2,565 | |
Hunan TV & Broadcast Intermediary Co. Ltd. Class A | | | | | 1,100 | | | | | | 1,742 | |
| | | | | | | | | | | 4,307 | |
Aerospace/Defense – 0.7% | | | | |||||||||
AECC Aero-Engine Control Co. Ltd. Class A | | | | | 300 | | | | | | 899 | |
AECC Aviation Power Co. Ltd. Class A | | | | | 700 | | | | | | 3,286 | |
AVIC Aircraft Co. Ltd. Class A | | | | | 1,100 | | | | | | 3,176 | |
AVIC Helicopter Co. Ltd. Class A | | | | | 300 | | | | | | 1,969 | |
Jihua Group Corp. Ltd. Class A | | | | | 1,600 | | | | | | 2,008 | |
| | | | | | | | | | | 11,338 | |
Agriculture – 0.2% | | | | |||||||||
Beijing Dabeinong Technology Group Co. Ltd. Class A | | | | | 1,800 | | | | | | 1,665 | |
New Hope Liuhe Co. Ltd. Class A | | | | | 2,100 | | | | | | 2,324 | |
| | | | | | | | | | | 3,989 | |
Airlines – 0.9% | | | | |||||||||
Air China Ltd. Class H | | | | | 4,000 | | | | | | 3,323 | |
China Eastern Airlines Corp. Ltd. Class H | | | | | 6,000 | | | | | | 2,964 | |
China Southern Airlines Co. Ltd. Class H | | | | | 6,000 | | | | | | 4,132 | |
Hainan Airlines Holding Co. Ltd. Class A | | | | | 5,600 | | | | | | 2,733 | |
Spring Airlines Co. Ltd. Class A | | | | | 200 | | | | | | 1,003 | |
| | | | | | | | | | | 14,155 | |
Auto Manufacturers – 2.2% | | | | |||||||||
BYD Co. Ltd. Class H | | | | | 1,000 | | | | | | 9,274 | |
China Avionics Systems Co. Ltd. Class A | | | | | 500 | | | | | | 1,220 | |
Chongqing Changan Automobile Co. Ltd. Class A | | | | | 2,200 | | | | | | 4,681 | |
Great Wall Motor Co. Ltd. Class H | | | | | 1,500 | | | | | | 1,843 | |
SAIC Motor Corp. Ltd. Class A | | | | | 3,100 | | | | | | 14,051 | |
Zhengzhou Yutong Bus Co. Ltd. Class A | | | | | 1,300 | | | | | | 4,801 | |
| | | | | | | | | | | 35,870 | |
Auto Parts & Equipment – 1.1% | | | | |||||||||
Fuyao Glass Industry Group Co. Ltd. Class A | | | | | 1,400 | | | | | | 5,358 | |
Huayu Automotive Systems Co. Ltd. Class A | | | | | 1,300 | | | | | | 4,401 | |
Wanxiang Qianchao Co. Ltd. Class A | | | | | 1,320 | | | | | | 2,398 | |
Weichai Power Co. Ltd. Class H | | | | | 5,000 | | | | | | 5,478 | |
| | | | | | | | | | | 17,635 | |
|
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Banks – 17.5% | | | | |||||||||
Agricultural Bank of China Ltd. Class H | | | | | 50,000 | | | | | $ | 22,400 | |
Bank of Beijing Co. Ltd. Class A | | | | | 14,256 | | | | | | 15,967 | |
Bank of China Ltd. Class H | | | | | 26,000 | | | | | | 12,813 | |
Bank of Communications Co. Ltd. Class H | | | | | 37,000 | | | | | | 26,995 | |
Bank of Jiangsu Co. Ltd. Class A | | | | | 1,300 | | | | | | 1,620 | |
Bank of Nanjing Co. Ltd. Class A | | | | | 5,040 | | | | | | 5,986 | |
Bank of Ningbo Co. Ltd. Class A | | | | | 2,470 | | | | | | 5,852 | |
Bank of Shanghai Co. Ltd. Class A | | | | | 800 | | | | | | 2,145 | |
China CITIC Bank Corp. Ltd. Class H | | | | | 4,000 | | | | | | 2,540 | |
China Construction Bank Corp. Class H | | | | | 9,000 | | | | | | 7,465 | |
China Everbright Bank Co. Ltd. Class H | | | | | 21,000 | | | | | | 9,704 | |
China Merchants Bank Co. Ltd. Class H | | | | | 11,500 | | | | | | 40,407 | |
China Minsheng Banking Corp. Ltd. Class H | | | | | 27,500 | | | | | | 25,203 | |
Huaxia Bank Co. Ltd. Class A | | | | | 6,120 | | | | | | 8,518 | |
Industrial & Commercial Bank of China Ltd. Class H | | | | | 30,000 | | | | | | 22,272 | |
Industrial Bank Co. Ltd. Class A | | | | | 13,500 | | | | | | 35,045 | |
Ping An Bank Co. Ltd. Class A | | | | | 8,500 | | | | | | 14,178 | |
Shanghai Pudong Development Bank Co. Ltd. Class A | | | | | 10,725 | | | | | | 20,724 | |
| | | | | | | | | | | 279,834 | |
Beverages – 4.4% | | | | |||||||||
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd. Class A | | | | | 600 | | | | | | 9,144 | |
Kweichow Moutai Co. Ltd. Class A | | | | | 500 | | | | | | 38,859 | |
Luzhou Laojiao Co. Ltd. Class A | | | | | 700 | | | | | | 5,896 | |
Wuliangye Yibin Co. Ltd. Class A | | | | | 1,800 | | | | | | 15,480 | |
| | | | | | | | | | | 69,379 | |
Biotechnology – 0.1% | | | | |||||||||
Hualan Biological Engineering, Inc. Class A | | | | | 480 | | | | | | 1,961 | |
Building Materials – 2.3% | | | | |||||||||
Anhui Conch Cement Co. Ltd. Class A | | | | | 1,900 | | | | | | 7,123 | |
Gree Electric Appliances, Inc. of Zhuhai Class A | | | | | 4,800 | | | | | | 27,313 | |
Suzhou Gold Mantis Construction Decoration Co. Ltd. Class A | | | | | 1,200 | | | | | | 1,989 | |
| | | | | | | | | | | 36,425 | |
Chemicals – 2.0% | | | | |||||||||
Beijing Sanju Environmental Protection & New Material Co. Ltd. Class A | | | | | 900 | | | | | | 4,119 | |
China Hainan Rubber Industry Group Co. Ltd. Class A(a) | | | | | 1,000 | | | | | | 965 | |
Hubei Biocause Pharmaceutical Co. Ltd. Class A | | | | | 1,300 | | | | | | 1,727 | |
Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd. Class A | | | | | 2,500 | | | | | | 1,896 | |
Kingenta Ecological Engineering Group Co. Ltd. Class A | | | | | 1,200 | | | | | | 1,450 |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Chemicals – 2.0% (continued) | | | | |||||||||
Qinghai Salt Lake Industry Co. Ltd. Class A | | | | | 600 | | | | | $ | 1,705 | |
Sinopec Shanghai Petrochemical Co. Ltd. Class H | | | | | 4,000 | | | | | | 2,381 | |
Tianqi Lithium Corp. Class A | | | | | 600 | | | | | | 6,332 | |
Wanhua Chemical Group Co. Ltd. Class A | | | | | 1,200 | | | | | | 7,594 | |
Zhejiang Longsheng Group Co. Ltd. Class A | | | | | 2,100 | | | | | | 3,235 | |
| | | | | | | | | | | 31,404 | |
Coal – 0.7% | | | | |||||||||
China Shenhua Energy Co. Ltd. Class H | | | | | 2,000 | | | | | | 4,700 | |
Shaanxi Coal Industry Co. Ltd. Class A | | | | | 1,800 | | | | | | 2,378 | |
Shanxi Xishan Coal & Electricity Power Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,477 | |
Yanzhou Coal Mining Co. Ltd. Class H | | | | | 2,000 | | | | | | 1,969 | |
| | | | | | | | | | | 11,524 | |
Commercial Services – 0.3% | | | | |||||||||
Eternal Asia Supply Chain Management Ltd. Class A | | | | | 1,200 | | | | | | 1,515 | |
Shanghai International Port Group Co. Ltd. Class A | | | | | 3,300 | | | | | | 3,315 | |
| | | | | | | | | | | 4,830 | |
Computers – 1.9% | | | | |||||||||
Aisino Corp. Class A | | | | | 1,100 | | | | | | 3,106 | |
BOE Technology Group Co. Ltd. Class A | | | | | 22,800 | | | | | | 15,062 | |
DHC Software Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,700 | |
GRG Banking Equipment Co. Ltd. Class A | | | | | 1,200 | | | | | | 1,411 | |
Inspur Electronic Information Industry Co. Ltd. Class A | | | | | 780 | | | | | | 2,247 | |
Leshi Internet Information & Technology Corp. Beijing Class A(c)(d) | | | | | 1,800 | | | | | | 2,900 | |
Tsinghua Tongfang Co. Ltd. Class A | | | | | 1,600 | | | | | | 2,931 | |
| | | | | | | | | | | 30,357 | |
Distribution/Wholesale – 0.5% | | | | |||||||||
Liaoning Cheng Da Co. Ltd. Class A(a) | | | | | 1,200 | | | | | | 3,263 | |
Wuchan Zhongda Group Co. Ltd. Class A | | | | | 1,755 | | | | | | 2,074 | |
Xiamen C & D, Inc. Class A | | | | | 1,700 | | | | | | 2,973 | |
| | | | | | | | | | | 8,310 | |
Diversified Financial Services – 9.4% | | | | |||||||||
Anxin Trust Co. Ltd. Class A | | | | | 1,980 | | | | | | 3,761 | |
Bohai Financial Investment Holding Co. Ltd. Class A | | | | | 1,800 | | | | | | 1,789 | |
Changjiang Securities Co. Ltd. Class A | | | | | 3,100 | | | | | | 4,533 | |
China Merchants Securities Co. Ltd. Class H | | | | | 3,600 | | | | | | 5,963 | |
CITIC Securities Co. Ltd. Class H | | | | | 9,000 | | | | | | 19,792 | |
Dongxing Securities Co. Ltd. Class A | | | | | 500 | | | | | | 1,381 |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Diversified Financial Services – 9.4% (continued) | | | | |||||||||
Everbright Securities Co. Ltd. Class H | | | | | 2,000 | | | | | $ | 2,719 | |
Founder Securities Co. Ltd. Class A(a) | | | | | 3,900 | | | | | | 5,036 | |
GF Securities Co. Ltd. Class H | | | | | 3,200 | | | | | | 6,955 | |
Guosen Securities Co. Ltd. Class A | | | | | 2,400 | | | | | | 4,933 | |
Guotai Junan Securities Co. Ltd. Class H(a) | | | | | 6,200 | | | | | | 13,364 | |
Guoyuan Securities Co. Ltd. Class A | | | | | 1,500 | | | | | | 3,173 | |
Haitong Securities Co. Ltd. Class H | | | | | 11,600 | | | | | | 18,738 | |
Huatai Securities Co. Ltd. Class H | | | | | 4,400 | | | | | | 9,743 | |
Industrial Securities Co. Ltd. Class A | | | | | 5,190 | | | | | | 6,600 | |
Northeast Securities Co. Ltd. Class A | | | | | 1,280 | | | | | | 1,980 | |
Orient Securities Co. Ltd. Class H | | | | | 8,000 | | | | | | 8,366 | |
Pacific Securities Co. Ltd. Class A | | | | | 6,870 | | | | | | 4,301 | |
SDIC Essence Holdings Co. Ltd. Class A | | | | | 1,100 | | | | | | 2,694 | |
Sealand Securities Co. Ltd. Class A | | | | | 2,100 | | | | | | 1,854 | |
Shanxi Securities Co. Ltd. Class A | | | | | 1,500 | | | | | | 2,545 | |
Shenwan Hongyuan Group Co. Ltd. Class A | | | | | 5,805 | | | | | | 5,081 | |
Sinolink Securities Co. Ltd. Class A | | | | | 1,800 | | | | | | 3,170 | |
SooChow Securities Co. Ltd. Class A | | | | | 2,300 | | | | | | 4,216 | |
Southwest Securities Co. Ltd. Class A | | | | | 2,700 | | | | | | 2,359 | |
Western Securities Co. Ltd. Class A | | | | | 1,700 | | | | | | 3,979 | |
| | | | | | | | | | | 149,025 | |
Electric – 2.3% | | | | |||||||||
China National Nuclear Power Co. Ltd. Class A | | | | | 4,700 | | | | | | 5,264 | |
China Yangtze Power Co. Ltd. Class A | | | | | 6,300 | | | | | | 14,254 | |
GD Power Development Co. Ltd. Class A | | | | | 11,300 | | | | | | 5,633 | |
SDIC Power Holdings Co. Ltd. Class A | | | | | 3,200 | | | | | | 3,526 | |
Shanghai Electric Power Co. Ltd. Class A | | | | | 1,000 | | | | | | 1,676 | |
Sichuan Chuantou Energy Co. Ltd. Class A | | | | | 2,100 | | | | | | 2,970 | |
Zhejiang Zheneng Electric Power Co. Ltd. Class A | | | | | 3,900 | | | | | | 3,133 | |
| | | | | | | | | | | 36,456 | |
Electrical Components & Equipment – 0.7% | | | | |||||||||
Chinese Universe Publishing & Media Co. Ltd. Class A | | | | | 600 | | | | | | 1,993 | |
TBEA Co. Ltd. Class A | | | | | 3,700 | | | | | | 5,477 | |
Xinjiang Goldwind Science & Technology Co. Ltd. Class H | | | | | 2,340 | | | | | | 2,923 | |
| | | | | | | | | | | 10,393 | |
Electronics – 2.8% | | | | |||||||||
China Security & Fire Co. Ltd. Class A(a) | | | | | 800 | | | | | | 835 | |
Dongxu Optoelectronic Technology Co. Ltd. Class A | | | | | 1,300 | | | | | | 2,209 | |
GoerTek, Inc. Class A | | | | | 1,900 | | | | | | 5,774 |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Electronics – 2.8% (continued) | | | | |||||||||
Hangzhou Hikvision Digital Technology Co. Ltd. Class A | | | | | 3,700 | | | | | $ | 17,777 | |
Han’s Laser Technology Industry Group Co. Ltd. Class A | | | | | 900 | | | | | | 5,891 | |
Luxshare Precision Industry Co. Ltd. Class A | | | | | 1,125 | | | | | | 3,490 | |
Shenzhen Inovance Technology Co. Ltd. Class A | | | | | 800 | | | | | | 3,471 | |
Tianjin Zhonghuan Semiconductor Co. Ltd. Class A(c)(d) | | | | | 4,100 | | | | | | 5,072 | |
| | | | | | | | | | | 44,519 | |
Engineering & Construction – 2.2% | | | | |||||||||
China Communications Construction Co. Ltd. Class H | | | | | 2,000 | | | | | | 2,496 | |
China Gezhouba Group Co. Ltd. Class A | | | | | 2,700 | | | | | | 4,208 | |
China National Chemical Engineering Co. Ltd. Class A | | | | | 2,000 | | | | | | 2,039 | |
China Railway Construction Corp. Ltd. Class H | | | | | 3,500 | | | | | | 4,435 | |
China Railway Group Ltd. Class H | | | | | 8,000 | | | | | | 6,615 | |
Metallurgical Corp. of China Ltd. Class H | | | | | 8,000 | | | | | | 2,632 | |
Power Construction Corp. of China Ltd. Class A | | | | | 4,000 | | | | | | 4,823 | |
Shanghai Construction Group Co. Ltd. Class A | | | | | 2,285 | | | | | | 1,314 | |
Shanghai International Airport Co. Ltd. Class A | | | | | 800 | | | | | | 4,562 | |
Shanghai Tunnel Engineering Co. Ltd. Class A | | | | | 1,500 | | | | | | 2,182 | |
| | | | | | | | | | | 35,306 | |
Entertainment – 0.8% | | | | |||||||||
Beijing Enlight Media Co. Ltd. Class A | | | | | 800 | | | | | | 1,314 | |
Huayi Brothers Media Corp. Class A | | | | | 1,798 | | | | | | 2,446 | |
Shenzhen Overseas Chinese Town Co. Ltd. Class A | | | | | 4,000 | | | | | | 4,907 | |
Songcheng Performance Development Co. Ltd. Class A | | | | | 500 | | | | | | 1,405 | |
Wanda Film Holding Co. Ltd. Class A(c)(d) | | | | | 500 | | | | | | 3,907 | |
| | | | | | | | | | | 13,979 | |
Environmental Control – 0.7% | | | | |||||||||
Beijing Capital Co. Ltd. Class A | | | | | 1,600 | | | | | | 1,537 | |
Beijing Orient Landscape & Environment Co. Ltd. Class A | | | | | 1,100 | | | | | | 3,470 | |
Beijing Originwater Technology Co. Ltd. Class A | | | | | 1,479 | | | | | | 3,999 | |
Tus-Sound Environmental Resources Co. Ltd. Class A | | | | | 500 | | | | | | 2,699 | |
| | | | | | | | | | | 11,705 | |
Food – 2.2% | | | | |||||||||
COFCO Tunhe Sugar Co. Ltd. Class A | | | | | 1,000 | | | | | | 1,419 | |
Henan Shuanghui Investment & Development Co. Ltd. Class A | | | | | 900 | | | | | | 3,365 | |
Inner Mongolia Yili Industrial Group Co. Ltd. Class A | | | | | 6,000 | | | | | | 24,773 | |
Yonghui Superstores Co. Ltd. Class A | | | | | 4,000 | | | | | | 4,798 | |
| | | | | | | | | | | 34,355 | |
|
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Healthcare-Services – 0.4% | | | | |||||||||
Meinian Onehealth Healthcare Holdings Co. Ltd. Class A | | | | | 1,200 | | | | | $ | 3,065 | |
Shanghai RAAS Blood Products Co. Ltd. Class A | | | | | 1,080 | | | | | | 3,374 | |
| | | | | | | | | | | 6,439 | |
Holding Companies-Diversified – 0.6% | | | | |||||||||
Avic Capital Co. Ltd. Class A | | | | | 4,800 | | | | | | 4,216 | |
China Baoan Group Co. Ltd. Class A | | | | | 1,485 | | | | | | 2,005 | |
Zhejiang China Commodities City Group Co. Ltd. Class A | | | | | 2,600 | | | | | | 2,744 | |
| | | | | | | | | | | 8,965 | |
Home Furnishings – 2.8% | | | | |||||||||
Hangzhou Robam Appliances Co. Ltd. Class A | | | | | 500 | | | | | | 3,172 | |
Hisense Electric Co. Ltd. Class A | | | | | 800 | | | | | | 1,887 | |
Midea Group Co. Ltd. Class A | | | | | 4,450 | | | | | | 29,524 | |
Qingdao Haier Co. Ltd. Class A | | | | | 2,900 | | | | | | 6,570 | |
TCL Corp. Class A | | | | | 7,000 | | | | | | 3,741 | |
| | | | | | | | | | | 44,894 | |
Insurance – 7.4% | | | | |||||||||
China Life Insurance Co. Ltd. Class H | | | | | 2,000 | | | | | | 5,952 | |
China Pacific Insurance Group Co. Ltd. Class H | | | | | 3,800 | | | | | | 16,367 | |
New China Life Insurance Co. Ltd. Class H | | | | | 1,200 | | | | | | 6,782 | |
Ping An Insurance Group Co. of China Ltd. Class A | | | | | 11,000 | | | | | | 89,447 | |
| | | | | | | | | | | 118,548 | |
Internet – 0.8% | | | | |||||||||
East Money Information Co. Ltd. Class A | | | | | 2,760 | | | | | | 5,731 | |
Hithink RoyalFlush Information Network Co. Ltd. Class A | | | | | 200 | | | | | | 1,877 | |
Searainbow Holding Corp. Class A(a)(c)(d) | | | | | 700 | | | | | | 2,751 | |
Wangsu Science & Technology Co. Ltd. Class A | | | | | 1,498 | | | | | | 2,715 | |
| | | | | | | | | | | 13,074 | |
Iron/Steel – 1.1% | | | | |||||||||
Baoshan Iron & Steel Co. Ltd. Class A | | | | | 8,728 | | | | | | 9,684 | |
Hesteel Co. Ltd. Class A | | | | | 4,000 | | | | | | 2,642 | |
Inner Mongolia BaoTou Steel Union Co. Ltd. Class A(a) | | | | | 13,020 | | | | | | 5,278 | |
| | | | | | | | | | | 17,604 | |
Leisure Time – 0.3% | | | | |||||||||
China International Travel Service Corp. Ltd. Class A | | | | | 800 | | | | | | 4,143 | |
|
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Machinery-Construction & Mining – 0.6% | | | | |||||||||
Sany Heavy Industry Co. Ltd. Class A | | | | | 3,600 | | | | | $ | 4,135 | |
XCMG Construction Machinery Co. Ltd. Class A | | | | | 4,200 | | | | | | 2,321 | |
Zoomlion Heavy Industry Science & Technology Co. Ltd. Class H | | | | | 6,600 | | | | | | 2,906 | |
| | | | | | | | | | | 9,362 | |
Machinery-Diversified – 0.6% | | | | |||||||||
CITIC Heavy Industries Co. Ltd. Class A(a) | | | | | 1,100 | | | | | | 849 | |
NARI Technology Co. Ltd. Class A | | | | | 1,500 | | | | | | 3,720 | |
Shanghai Electric Group Co. Ltd. Class H(a) | | | | | 6,000 | | | | | | 2,642 | |
Siasun Robot & Automation Co. Ltd. Class A(a) | | | | | 660 | | | | | | 2,113 | |
| | | | | | | | | | | 9,324 | |
Media – 1.1% | | | | |||||||||
Beijing Gehua CATV Network Co. Ltd. Class A | | | | | 700 | | | | | | 1,551 | |
China Media Group Class A | | | | | 1,700 | | | | | | 2,573 | |
CITIC Guoan Information Industry Co. Ltd. Class A | | | | | 2,750 | | | | | | 4,625 | |
Jiangsu Broadcasting Cable Information Network Corp. Ltd. Class A(c)(d) | | | | | 780 | | | | | | 1,238 | |
Shanghai Oriental Pearl Group Co. Ltd. Class A | | | | | 1,900 | | | | | | 5,788 | |
Wasu Media Holding Co. Ltd. Class A | | | | | 200 | | | | | | 433 | |
Zhejiang Huace Film & TV Co. Ltd. Class A | | | | | 640 | | | | | | 1,048 | |
| | | | | | | | | | | 17,256 | |
Mining – 2.6% | | | | |||||||||
Aluminum Corp. of China Ltd. Class H(a) | | | | | 12,000 | | | | | | 10,767 | |
China Molybdenum Co. Ltd. Class H | | | | | 9,000 | | | | | | 5,403 | |
China Northern Rare Earth Group High-Tech Co. Ltd. Class A | | | | | 2,000 | | | | | | 4,843 | |
Jiangxi Copper Co. Ltd. Class H | | | | | 2,000 | | | | | | 3,159 | |
Jinduicheng Molybdenum Co. Ltd. Class A(a) | | | | | 800 | | | | | | 1,030 | |
Shandong Gold Mining Co. Ltd. Class A | | | | | 700 | | | | | | 3,303 | |
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd. Class A | | | | | 1,300 | | | | | | 2,368 | |
Tongling Nonferrous Metals Group Co. Ltd. Class A(a) | | | | | 6,400 | | | | | | 2,902 | |
Zhongjin Gold Corp. Ltd. Class A | | | | | 1,534 | | | | | | 2,469 | |
Zijin Mining Group Co. Ltd. Class H | | | | | 16,000 | | | | | | 5,489 | |
| | | | | | | | | | | 41,733 | |
Miscellaneous Manufacturer – 1.9% | | | | |||||||||
CRRC Corp. Ltd. Class H | | | | | 14,000 | | | | | | 12,436 | |
Kangde Xin Composite Material Group Co. Ltd. Class A | | | | | 3,198 | | | | | | 10,184 | |
Shenzhen O-film Tech Co. Ltd. Class A | | | | | 2,000 | | | | | | 6,363 | |
Suzhou Victory Precision Manufacture Co. Ltd. Class A(c)(d) | | | | | 1,700 | | | | | | 1,953 | |
| | | | | | | | | | | 30,936 | |
|
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Oil & Gas – 1.0% | | | | |||||||||
China Petroleum & Chemical Corp. Class H | | | | | 12,000 | | | | | $ | 8,986 | |
PetroChina Co. Ltd. Class H | | | | | 8,000 | | | | | | 5,069 | |
Wintime Energy Co. Ltd. Class A | | | | | 3,300 | | | | | | 1,783 | |
| | | | | | | | | | | 15,838 | |
Oil & Gas Services – 0.2% | | | | |||||||||
Offshore Oil Engineering Co. Ltd. Class A | | | | | 2,100 | | | | | | 1,942 | |
Sinopec Oilfield Service Corp. Class H(a) | | | | | 4,000 | | | | | | 697 | |
| | | | | | | | | | | 2,639 | |
Pharmaceuticals – 3.7% | | | | |||||||||
Aurora Optoelectronics Co. Ltd. Class A(a)(c)(d) | | | | | 800 | | | | | | 2,090 | |
Beijing Tongrentang Co. Ltd. Class A | | | | | 700 | | | | | | 3,406 | |
Dong-E-E-Jiao Co. Ltd. Class A | | | | | 500 | | | | | | 4,875 | |
Huadong Medicine Co. Ltd. Class A | | | | | 400 | | | | | | 2,947 | |
Jiangsu Bicon Pharmaceutical Listed Co. Class A | | | | | 500 | | | | | | 2,021 | |
Jiangsu Hengrui Medicine Co. Ltd. Class A | | | | | 1,440 | | | | | | 12,957 | |
Jilin Aodong Pharmaceutical Group Co. Ltd. Class A | | | | | 910 | | | | | | 3,067 | |
Kangmei Pharmaceutical Co. Ltd. Class A | | | | | 2,900 | | | | | | 8,743 | |
Shanghai Fosun Pharmaceutical Group Co. Ltd. Class H | | | | | 1,500 | | | | | | 6,221 | |
Tasly Pharmaceutical Group Co. Ltd. Class A | | | | | 700 | | | | | | 3,694 | |
Yunnan Baiyao Group Co. Ltd. Class A | | | | | 500 | | | | | | 6,809 | |
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd. Class A | | | | | 300 | | | | | | 2,624 | |
| | | | | | | | | | | 59,454 | |
Pipelines – 0.1% | | | | |||||||||
Guanghui Energy Co. Ltd. Class A | | | | | 3,100 | | | | | | 1,959 | |
Real Estate – 6.3% | | | | |||||||||
Beijing Capital Development Co. Ltd. Class A | | | | | 1,100 | | | | | | 1,830 | |
China Fortune Land Development Co. Ltd. Class A | | | | | 1,300 | | | | | | 6,066 | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd. Class A | | | | | 2,302 | | | | | | 6,318 | |
China State Construction Engineering Corp. Ltd. Class A | | | | | 15,100 | | | | | | 21,039 | |
China Vanke Co. Ltd. Class H | | | | | 7,600 | | | | | | 25,001 | |
Financial Street Holdings Co. Ltd. Class A | | | | | 1,500 | | | | | | 2,745 | |
Future Land Holdings Co. Ltd. Class A | | | | | 900 | | | | | | 2,415 | |
Gemdale Corp. Class A | | | | | 2,200 | | | | | | 3,789 | |
Greenland Holdings Corp. Ltd. Class A | | | | | 2,400 | | | | | | 2,710 | |
Poly Real Estate Group Co. Ltd. Class A | | | | | 7,100 | | | | | | 11,086 | |
RiseSun Real Estate Development Co. Ltd. Class A | | | | | 1,900 | | | | | | 2,727 | |
Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd. Class A | | | | | 720 | | | | | | 2,417 | |
Shanghai SMI Holding Co. Ltd. Class A(a) | | | | | 1,096 | | | | | | 1,616 |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Real Estate – 6.3% (continued) | | | | |||||||||
Shanghai Zhangjiang High-Tech Park Development Co. Ltd. Class A | | | | | 700 | | | | | $ | 1,762 | |
Xinhu Zhongbao Co. Ltd. Class A(a) | | | | | 3,400 | | | | | | 2,190 | |
Youngor Group Co. Ltd. Class A | | | | | 2,240 | | | | | | 3,296 | |
Zhongtian Financial Group Co. Ltd. Class A(c)(d) | | | | | 2,700 | | | | | | 2,980 | |
| | | | | | | | | | | 99,987 | |
Retail – 1.1% | | | | |||||||||
China Grand Automotive Services Co. Ltd. Class A | | | | | 2,080 | | | | | | 2,633 | |
Nanjing Xinjiekou Department Store Co. Ltd. Class A(c)(d) | | | | | 400 | | | | | | 2,315 | |
Shanghai Bailian Group Co. Ltd. Class A | | | | | 700 | | | | | | 1,594 | |
Shanghai Pharmaceuticals Holding Co. Ltd. Class H | | | | | 1,200 | | | | | | 2,931 | |
Suning Commerce Group Co. Ltd. Class A | | | | | 4,200 | | | | | | 8,261 | |
| | | | | | | | | | | 17,734 | |
Semiconductors – 0.6% | | | | |||||||||
Sanan Optoelectronics Co. Ltd. Class A | | | | | 2,560 | | | | | | 8,894 | |
Shipbuilding – 0.7% | | | | |||||||||
China CSSC Holdings Ltd. Class A(a)(b)(d) | | | | | 700 | | | | | | 2,593 | |
China Shipbuilding Industry Co. Ltd. Class A(a)(c)(d) | | | | | 8,800 | | | | | | 8,205 | |
| | | | | | | | | | | 10,798 | |
Software – 1.9% | | | | |||||||||
Beijing Shiji Information Technology Co. Ltd. Class A | | | | | 300 | | | | | | 1,059 | |
Hundsun Technologies, Inc. Class A | | | | | 500 | | | | | | 3,832 | |
Iflytek Co. Ltd. Class A | | | | | 900 | | | | | | 7,249 | |
Jiangsu Protruly Vision Technology Group Co. Ltd. Class A(a)(c)(d) | | | | | 900 | | | | | | 1,404 | |
Neusoft Corp. Class A | | | | | 700 | | | | | | 1,793 | |
Ourpalm Co. Ltd. Class A | | | | | 1,900 | | | | | | 2,131 | |
Shanghai 2345 Network Holding Group Co. Ltd. Class A | | | | | 680 | | | | | | 728 | |
Shenzhen Kingdom Sci-Tech Co. Ltd. Class A | | | | | 500 | | | | | | 1,492 | |
Wonders Information Co. Ltd. Class A | | | | | 700 | | | | | | 1,455 | |
Yonyou Network Technology Co. Ltd. Class A | | | | | 900 | | | | | | 3,197 | |
Zhejiang Dahua Technology Co. Ltd. Class A | | | | | 1,450 | | | | | | 5,240 | |
| | | | | | | | | | | 29,580 | |
Telecommunications – 2.5% | | | | |||||||||
Beijing Xinwei Technology Group Co. Ltd. Class A(c)(d) | | | | | 1,100 | | | | | | 2,410 | |
China Spacesat Co. Ltd. Class A | | | | | 600 | | | | | | 2,537 | |
China United Network Communications Ltd. Class A(a) | | | | | 8,100 | | | | | | 9,024 | |
Dr Peng Telecom & Media Group Co. Ltd. Class A | | | | | 1,100 | | | | | | 3,272 | |
Guangzhou Haige Communications Group, Inc. Co. Class A | | | | | 1,700 | | | | | | 2,958 | |
Guoxuan High-Tech Co. Ltd. Class A | | | | | 500 | | | | | | 2,380 |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (continued)
September 30, 2017
| | | Shares | | | Market Value | ||||||
Telecommunications – 2.5% (continued) | | | | |||||||||
Jiangsu Zhongtian Technology Co. Ltd. Class A | | | | | 2,100 | | | | | $ | 4,505 | |
ZTE Corp. Class H(a) | | | | | 4,000 | | | | | | 13,082 | |
| | | | | | | | | | | 40,168 | |
Toys/Games/Hobbies – 0.1% | | | | |||||||||
Alpha Group Class A | | | | | 500 | | | | | | 1,114 | |
Transportation – 1.4% | | | | |||||||||
China High-Speed Railway Technology Co. Ltd. Class A | | | | | 1,700 | | | | | | 2,305 | |
China Merchants Energy Shipping Co. Ltd. Class A | | | | | 2,100 | | | | | | 1,561 | |
COSCO Shipping Develoment Co. Ltd. Class H(a) | | | | | 8,000 | | | | | | 1,812 | |
COSCO Shipping Holdings Co. Ltd. Class H(a) | | | | | 7,000 | | | | | | 3,754 | |
Daqin Railway Co. Ltd. Class A | | | | | 5,700 | | | | | | 7,488 | |
Guangshen Railway Co. Ltd. Class H | | | | | 4,000 | | | | | | 2,345 | |
Ningbo Zhoushan Port Co. Ltd. Class A | | | | | 3,700 | | | | | | 3,261 | |
| | | | | | | | | | | 22,526 | |
Total Common Stocks (Cost $1,397,075) | | | | | | | | | | | 1,530,025 | |
Total Investments – 96.0% (Cost $1,397,075)# | | | | | | | | | | | 1,530,025 | |
Other assets in excess of liabilities – 4.0% | | | | | | | | | | | 63,078 | |
Net Assets – 100.0% | | | | | | | | | | $ | 1,593,103 | |
|
| Gross unrealized appreciation | | | | $ | 268,133 | | |
| Gross unrealized depreciation | | | | | (179,438) | | |
| Net unrealized appreciation | | | | $ | 88,695 | | |
|
CSOP CHINA CSI 300 A-H DYNAMIC ETF
SCHEDULE OF INVESTMENTS – (concluded)
September 30, 2017
| Summary of Investments by Sector^ | | | | | | | |
| Financials | | | | | 34.7% | | |
| Industrials | | | | | 12.8 | | |
| Consumer Discretionary | | | | | 10.8 | | |
| Information Technology | | | | | 8.8 | | |
| Consumer Staples | | | | | 6.9 | | |
| Materials | | | | | 6.8 | | |
| Real Estate | | | | | 5.0 | | |
| Health Care | | | | | 4.6 | | |
| Utilities | | | | | 2.4 | | |
| Energy | | | | | 2.1 | | |
| Telecommunication Services | | | | | 0.8 | | |
| Communications | | | | | 0.3 | | |
| Other assets in excess of liabilities | | | | | 4.0 | | |
| | | | | | 100.0% | | |
|
STATEMENTS OF ASSETS AND LIABILITIES
September 30, 2017
| | | CSOP FTSE China A50 ETF | | | CSOP MSCI China A International Hedged ETF | | | CSOP China CSI 300 A-H Dynamic ETF | | |||||||||
ASSETS | | | | | |||||||||||||||
Investments in unaffiliated securities, at value | | | | $ | 6,772,378 | | | | | $ | 1,416,071 | | | | | $ | 1,530,025 | | |
Cash | | | | | 7,791 | | | | | | 3,122 | | | | | | 1,108 | | |
Foreign currency, at value* | | | | | 16,390 | | | | | | 6,089 | | | | | | 62,340 | | |
Unrealized appreciation of forward foreign currency exchange contracts | | | | | — | | | | | | 15,769 | | | | | | — | | |
Receivables: | | | | | |||||||||||||||
Dividends | | | | | — | | | | | | — | | | | | | 625 | | |
TOTAL ASSETS | | | | | 6,796,559 | | | | | | 1,441,051 | | | | | | 1,594,098 | | |
LIABILITIES | | | | | |||||||||||||||
Unrealized depreciation of forward foreign exchange currency contracts | | | | | — | | | | | | 3,999 | | | | | | — | | |
Payables: | | | | | |||||||||||||||
Management fees | | | | | 3,682 | | | | | | 932 | | | | | | 995 | | |
TOTAL LIABILITIES | | | | | 3,682 | | | | | | 4,931 | | | | | | 995 | | |
NET ASSETS | | | | $ | 6,792,877 | | | | | $ | 1,436,120 | | | | | $ | 1,593,103 | | |
COMPONENTS OF NET ASSETS | | | | | |||||||||||||||
Paid-in capital | | | | $ | 8,519,699 | | | | | $ | 1,714,239 | | | | | $ | 1,904,788 | | |
Accumulated net investment income (loss) | | | | | 129,213 | | | | | | (64,746) | | | | | | 14,362 | | |
Accumulated net realized gain (loss) on investments and foreign currency transactions | | | | | (2,897,118) | | | | | | (263,590) | | | | | | (459,693) | | |
Net unrealized appreciation (depreciation) on investments and foreign currency translations | | | | | 1,041,083 | | | | | | 50,217 | | | | | | 133,646 | | |
NET ASSETS | | | | $ | 6,792,877 | | | | | $ | 1,436,120 | | | | | $ | 1,593,103 | | |
NET ASSET VALUE PER SHARE | | | | | |||||||||||||||
Net Asset Value | | | | $ | 16.74 | | | | | $ | 28.72 | | | | | $ | 31.86 | | |
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value) | | | | | 405,882 | | | | | | 50,002 | | | | | | 50,002 | | |
COST OF INVESTMENTS | | | | | |||||||||||||||
Investments in unaffiliated securities, at cost | | | | $ | 5,731,144 | | | | | $ | 1,377,566 | | | | | $ | 1,397,075 | | |
Foreign currency, at cost | | | | $ | 16,542 | | | | | $ | 6,146 | | | | | $ | 61,644 | | |
|
STATEMENTS OF OPERATIONS
For the Year Ended September 30, 2017
| | | CSOP FTSE China A50 ETF | | | CSOP MSCI China A International Hedged ETF | | | CSOP China CSI 300 A-H Dynamic ETF | | |||||||||
INVESTMENT INCOME: | | | | | |||||||||||||||
Dividends from unaffiliated investments | | | | $ | 147,325 | | | | | $ | 26,041 | | | | | $ | 32,817 | | |
Interest income | | | | | 56 | | | | | | — | | | | | | — | | |
Other income | | | | | 260 | | | | | | 43 | | | | | | 117 | | |
Less: Foreign taxes withheld | | | | | (15,125) | | | | | | (2,713) | | | | | | (3,406) | | |
Total Investment Income | | | | | 132,516 | | | | | | 23,371 | | | | | | 29,528 | | |
EXPENSES: | | | | | |||||||||||||||
Management fees (See Note 3) | | | | | 40,855 | | | | | | 10,588 | | | | | | 10,739 | | |
Total Expenses | | | | | 40,855 | | | | | | 10,588 | | | | | | 10,739 | | |
NET INVESTMENT INCOME (LOSS) | | | | | 91,661 | | | | | | 12,783 | | | | | | 18,789 | | |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY: | | | | | |||||||||||||||
Net realized gain (loss) on: | | | | | |||||||||||||||
Investments in unaffiliated securities | | | | | (40,296) | | | | | | (472) | | | | | | (15,050) | | |
Forward foreign currency contracts | | | | | — | | | | | | (79,927) | | | | | | — | | |
Foreign currency transactions | | | | | (733) | | | | | | (2) | | | | | | 537 | | |
Net realized gain (loss) | | | | | (41,029) | | | | | | (80,401) | | | | | | (14,513) | | |
Net change in unrealized appreciation (depreciation) on: | | | | | |||||||||||||||
Investments in unaffiliated securities | | | | | 1,293,654 | | | | | | 231,455 | | | | | | 250,602 | | |
Forward foreign currency contracts | | | | | — | | | | | | 15,198 | | | | | | — | | |
Foreign currency translations | | | | | (133) | | | | | | (72) | | | | | | 725 | | |
Net change in unrealized appreciation (depreciation) | | | | | 1,293,521 | | | | | | 246,581 | | | | | | 251,327 | | |
NET REALIZED AND UNREALIZED GAIN (LOSS) | | | | | 1,252,492 | | | | | | 166,180 | | | | | | 236,814 | | |
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | | | | $ | 1,344,153 | | | | | $ | 178,963 | | | | | $ | 255,603 | | |
|
STATEMENTS OF CHANGES IN NET ASSETS
| | | CSOP FTSE CHINA A50 ETF | | |||||||||
| | | For the Year Ended September 30, 2017 | | | For the Year Ended September 30, 2016 | | ||||||
OPERATIONS: | | | | ||||||||||
Net investment income (loss) | | | | $ | 91,661 | | | | | $ | 97,633 | | |
Net realized gain (loss) on investments and foreign currency transactions | | | | | (41,029) | | | | | | (2,627,565) | | |
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations | | | | | 1,293,521 | | | | | | 716,626 | | |
Net increase (decrease) in net assets resulting from operations | | | | | 1,344,153 | | | | | | (1,813,306) | | |
DISTRIBUTIONS TO SHAREHOLDERS FROM: | | | | ||||||||||
Net investment income | | | | | (70,343) | | | | | | (1,564,161) | | |
Total distributions to shareholders | | | | | (70,343) | | | | | | (1,564,161) | | |
CAPITAL TRANSACTIONS: | | | | ||||||||||
Proceeds from Shares issued | | | | | 852,166 | | | | | | 38,026,760 | | |
Cost of Shares redeemed | | | | | (1,415,479) | | | | | | (35,447,203) | | |
Net increase (decrease) in net assets from Capital Transactions | | | | | (563,313) | | | | | | 2,579,557 | | |
Net increase (decrease) in net assets | | | | | 710,497 | | | | | | (797,910) | | |
NET ASSETS | | | | ||||||||||
Beginning of year | | | | | 6,082,380 | | | | | | 6,880,290 | | |
End of year | | | | $ | 6,792,877 | | | | | $ | 6,082,380 | | |
Includes accumulated net investment income (loss) of: | | | | $ | 129,213 | | | | | $ | 53,446 | | |
CHANGES IN SHARES OUTSTANDING | | | | ||||||||||
Shares issued | | | | | 50,000 | | | | | | 2,350,000 | | |
Shares redeemed | | | | | (100,000) | | | | | | (2,350,000) | | |
Net increase (decrease) in Shares outstanding | | | | | (50,000) | | | | | | — | | |
Shares Outstanding, Beginning of Year | | | | | 455,882 | | | | | | 455,882 | | |
Shares Outstanding, End of Year | | | | | 405,882 | | | | | | 455,882 | | |
|
STATEMENTS OF CHANGES IN NET ASSETS
| | | CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF | | |||||||||
| | | For the Year Ended September 30, 2017 | | | For the Period Ended September 30, 2016* | | ||||||
OPERATIONS: | | | | ||||||||||
Net investment income (loss) | | | | $ | 12,783 | | | | | $ | 9,951 | | |
Net realized gain (loss) on investments and foreign currency transactions | | | | | (80,401) | | | | | | (207,696) | | |
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations | | | | | 246,581 | | | | | | (196,364) | | |
Net increase (decrease) in net assets resulting from operations | | | | | 178,963 | | | | | | (394,109) | | |
DISTRIBUTIONS TO SHAREHOLDERS FROM: | | | | ||||||||||
Net investment income | | | | | (63,186) | | | | | | — | | |
Total distributions to shareholders | | | | | (63,186) | | | | | | — | | |
CAPITAL TRANSACTIONS: | | | | ||||||||||
Proceeds from Shares issued | | | | | — | | | | | | 3,000,060** | | |
Cost of Shares redeemed | | | | | — | | | | | | (1,285,608) | | |
Net increase (decrease) in net assets from Capital Transactions | | | | | — | | | | | | 1,714,452 | | |
Net increase (decrease) in net assets | | | | | 115,777 | | | | | | 1,320,343 | | |
NET ASSETS | | | | ||||||||||
Beginning of period | | | | | 1,320,343 | | | | | | — | | |
End of period | | | | $ | 1,436,120 | | | | | $ | 1,320,343 | | |
Includes accumulated net investment income (loss) of: | | | | $ | (64,746) | | | | | $ | 61,329 | | |
CHANGES IN SHARES OUTSTANDING | | | | ||||||||||
Shares issued | | | | | — | | | | | | 100,002** | | |
Shares redeemed | | | | | — | | | | | | (50,000) | | |
Net increase (decrease) in Shares outstanding | | | | | — | | | | | | 50,002 | | |
Shares Outstanding, Beginning of Period | | | | | 50,002 | | | | | | — | | |
Shares Outstanding, End of Period | | | | | 50,002 | | | | | | 50,002 | | |
|
STATEMENTS OF CHANGES IN NET ASSETS
| | | CSOP CHINA CSI 300 A-H DYNAMIC ETF | | |||||||||
| | | For the Year Ended September 30, 2017 | | | For the Period Ended September 30, 2016* | | ||||||
OPERATIONS: | | | | ||||||||||
Net investment income (loss) | | | | $ | 18,789 | | | | | $ | 14,350 | | |
Net realized gain (loss) on investments and foreign currency transactions | | | | | (14,513) | | | | | | (440,147) | | |
Net change in unrealized appreciation (depreciation) on investments and foreign currency translations | | | | | 251,327 | | | | | | (117,681) | | |
Net increase (decrease) in net assets resulting from operations | | | | | 255,603 | | | | | | (543,478) | | |
DISTRIBUTIONS TO SHAREHOLDERS FROM: | | | | | | | | | | | | | |
Net investment income | | | | | (23,896) | | | | | | — | | |
Total distributions to shareholders | | | | | (23,896) | | | | | | — | | |
CAPITAL TRANSACTIONS: | | | | | | | | | | | | | |
Proceeds from Shares issued | | | | | — | | | | | | 4,508,255** | | |
Cost of Shares redeemed | | | | | — | | | | | | (2,603,381) | | |
Net increase (decrease) in net assets from Capital Transactions | | | | | — | | | | | | 1,904,874 | | |
Net increase (decrease) in net assets | | | | | 231,707 | | | | | | 1,361,396 | | |
NET ASSETS | | | | | | | | | | | | | |
Beginning of period | | | | | 1,361,396 | | | | | | — | | |
End of period | | | | $ | 1,593,103 | | | | | $ | 1,361,396 | | |
Includes accumulated net investment income (loss) of: | | | | $ | 14,362 | | | | | $ | 18,095 | | |
CHANGES IN SHARES OUTSTANDING | | | | | | | | | | | | | |
Shares issued | | | | | — | | | | | | 150,002** | | |
Shares redeemed | | | | | — | | | | | | (100,000) | | |
Net increase (decrease) in Shares outstanding | | | | | — | | | | | | 50,002 | | |
Shares Outstanding, Beginning of Period | | | | | 50,002 | | | | | | — | | |
Shares Outstanding, End of Period | | | | | 50,002 | | | | | | 50,002 | | |
|
CSOP FTSE CHINA A50 ETF
FINANCIAL HIGHLIGHTS
| | | For the Year Ended September 30, 2017 | | | For the Year Ended September 30, 2016 | | | For the Period Ended September 30, 2015* | | |||||||||
NET ASSET VALUE, Beginning of Period | | | | $ | 13.34 | | | | | $ | 15.09 | | | | | $ | 17.00 | | |
Income (loss) from operations: | | | | | | | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | | | 0.23 | | | | | | 0.13 | | | | | | 0.17 | | |
Net realized and unrealized gain (loss) | | | | | 3.32 | | | | | | 0.50(b) | | | | | | (2.08)(b) | | |
Total income (loss) from operations | | | | | 3.55 | | | | | | 0.63 | | | | | | (1.91) | | |
Less Distributions From: | | | | | | | | | | | | | | | | | | | |
Net investment income | | | | | (0.15) | | | | | | (2.38) | | | | | | — | | |
Total distributions | | | | | (0.15) | | | | | | (2.38) | | | | | | — | | |
NET ASSET VALUE, End of Period | | | | $ | 16.74 | | | | | $ | 13.34 | | | | | $ | 15.09 | | |
MARKET VALUE, End of Period | | | | $ | 16.81 | | | | | $ | 13.52 | | | | | $ | 14.93 | | |
NET ASSET VALUE, Total Return(c) | | | | | 26.94% | | | | | | 3.07% | | | | | | (11.24)% | | |
MARKET PRICE, Total Return(d) | | | | | 25.80% | | | | | | 5.58% | | | | | | (12.18)% | | |
Net Assets, End of Period (thousands) | | | | $ | 6,793 | | | | | $ | 6,082 | | | | | $ | 6,880 | | |
Ratios of Average Net Assets: | | | | | | | | | | | | | | | | | | | |
Total Expenses | | | | | 0.70% | | | | | | 0.70% | | | | | | 0.99%** | | |
Net Expenses | | | | | 0.70% | | | | | | 0.69% | | | | | | 0.99%** | | |
Net Investment Income (Loss) | | | | | 1.57% | | | | | | 0.95% | | | | | | 1.44%** | | |
Portfolio Turnover Rate(e) | | | | | 34% | | | | | | 410% | | | | | | 266% | | |
CSOP MSCI CHINA A INTERNATIONAL HEDGED ETF
FINANCIAL HIGHLIGHTS
| | | For the Year Ended September 30, 2017 | | | For the Period Ended September 30, 2016* | | ||||||
NET ASSET VALUE, Beginning of Period | | | | $ | 26.41 | | | | | $ | 30.00 | | |
Income (loss) from operations: | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | | | 0.26 | | | | | | 0.13 | | |
Net realized and unrealized gain (loss) | | | | | 3.31 | | | | | | (3.72) | | |
Total income (loss) from operations | | | | | 3.57 | | | | | | (3.59) | | |
Less Distributions From: | | | | | | | | | | | | | |
Net investment income | | | | | (1.26) | | | | | | — | | |
Total distributions | | | | | (1.26) | | | | | | — | | |
NET ASSET VALUE, End of Period | | | | $ | 28.72 | | | | | $ | 26.41 | | |
MARKET VALUE, End of Period | | | | $ | 28.51 | | | | | $ | 26.37 | | |
NET ASSET VALUE, Total Return(b) | | | | | 14.08% | | | | | | (11.97)% | | |
MARKET PRICE, Total Return(c) | | | | | 13.01% | | | | | | (12.10)% | | |
Net Assets, End of Period (thousands) | | | | $ | 1,436 | | | | | $ | 1,320 | | |
Ratios of Average Net Assets: | | | | | | | | | | | | | |
Net Expenses | | | | | 0.79% | | | | | | 0.79%** | | |
Net Investment Income (Loss) | | | | | 0.95% | | | | | | 0.49%** | | |
Portfolio Turnover Rate(d) | | | | | 1% | | | | | | 70% | | |
CSOP CHINA CSI 300 A-H DYNAMIC ETF
FINANCIAL HIGHLIGHTS
| | | For the Year Ended September 30, 2017 | | | For the Period Ended September 30, 2016* | | ||||||
NET ASSET VALUE, Beginning of Period | | | | $ | 27.23 | | | | | $ | 30.00 | | |
Income (loss) from operations: | | | | | | | | | | | | | |
Net investment income (loss)(a) | | | | | 0.38 | | | | | | 0.14 | | |
Net realized and unrealized gain (loss) | | | | | 4.73 | | | | | | (2.91) | | |
Total income (loss) from operations | | | | | 5.11 | | | | | | (2.77) | | |
Less Distributions From: | | | | | | | | | | | | | |
Net investment income | | | | | (0.48) | | | | | | — | | |
Total distributions | | | | | (0.48) | | | | | | — | | |
NET ASSET VALUE, End of Period | | | | $ | 31.86 | | | | | $ | 27.23 | | |
MARKET VALUE, End of Period | | | | $ | 31.62 | | | | | $ | 27.14 | | |
NET ASSET VALUE, Total Return(b) | | | | | 19.10% | | | | | | (9.23)% | | |
MARKET PRICE, Total Return(c) | | | | | 18.51% | | | | | | (9.53)% | | |
Net Assets, End of Period (thousands) | | | | $ | 1,593 | | | | | $ | 1,361 | | |
Ratios of Average Net Assets: | | | | | | | | | | | | | |
Net Expenses | | | | | 0.75% | | | | | | 0.75%** | | |
Net Investment Income (Loss) | | | | | 1.31% | | | | | | 0.53%** | | |
Portfolio Turnover Rate(d) | | | | | 10% | | | | | | 111% | | |
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
At September 30, 2017 | | | Total | | | Level 1 | | | Level 2 | | | Level 3 | | ||||||||||||
Common Stocks | | | | $ | 6,772,378 | | | | | $ | 6,689,024 | | | | | $ | — | | | | | $ | 83,354 | | |
Total Investments, at value | | | | $ | 6,772,378 | | | | | $ | 6,689,024 | | | | | $ | — | | | | | $ | 83,354 | | |
|
At September 30, 2017 | | | Total | | | Level 1 | | | Level 2 | | | Level 3 | | ||||||||||||
Common Stocks | | | | $ | 1,416,071 | | | | | $ | 1,374,398 | | | | | $ | 7,604 | | | | | $ | 34,069 | | |
Total Investments, at value | | | | $ | 1,416,071 | | | | | $ | 1,374,398 | | | | | $ | 7,604 | | | | | $ | 34,069 | | |
Other Financial Instruments | | | | | | | | | | | | | | | | | | | | | | | | | |
Forward Foreign Currency Contracts | | | | $ | 11,770 | | | | | $ | — | | | | | $ | 11,770 | | | | | $ | — | | |
Total Other Financial Instruments | | | | $ | 11,770 | | | | | $ | — | | | | | $ | 11,770 | | | | | $ | — | | |
|
At September 30, 2017 | | | Total | | | Level 1 | | | Level 2 | | | Level 3 | | ||||||||||||
Common Stocks | | | | $ | 1,530,025 | | | | | $ | 1,490,207 | | | | | $ | 2,593 | | | | | $ | 37,225 | | |
Total Investments, at value | | | | $ | 1,530,025 | | | | | $ | 1,490,207 | | | | | $ | 2,593 | | | | | $ | 37,225 | | |
|
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
| | | Common Stocks | | |||
Balance as of September 30, 2016 | | | | $ | — | | |
Total realized gain (loss) | | | | | — | | |
Change in unrealized appreciation (depreciation) | | | | | — | | |
Purchases | | | | | — | | |
(Sales) | | | | | — | | |
Transfer In | | | | | 83,354 | | |
Transfer Out | | | | | — | | |
Balance as of September 30, 2017 | | | | $ | 83,354 | | |
Change in unrealized appreciation (depreciation) from investments held as of September 30, 2017* | | | | $ | — | | |
|
| | | Common Stocks | | |||
Balance as of September 30, 2016 | | | | $ | 50,920 | | |
Total realized gain (loss) | | | | | — | | |
Change in unrealized appreciation (depreciation) | | | | | 5,933 | | |
Purchases | | | | | 2,481 | | |
(Sales) | | | | | (3,467) | | |
Transfer In | | | | | 29,288 | | |
Transfer Out | | | | | (51,086) | | |
Balance as of September 30, 2017 | | | | $ | 34,069 | | |
Change in unrealized appreciation (depreciation) from investments held as of September 30, 2017* | | | | $ | 5,933 | | |
|
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
| | | Common Stocks | | |||
Balance as of September 30, 2016 | | | | $ | 47,932 | | |
Total realized gain (loss) | | | | | — | | |
Change in unrealized appreciation (depreciation) | | | | | 13,682 | | |
Purchases | | | | | 10,062 | | |
(Sales) | | | | | (2,295) | | |
Transfer In | | | | | 25,794 | | |
Transfer Out | | | | | (57,950) | | |
Balance as of September 30, 2017 | | | | $ | 37,225 | | |
Change in unrealized appreciation (depreciation) from investments held as of September 30, 2017* | | | | $ | 13,682 | | |
|
| | | Fair Value at September 30, 2017 | | | Valuation Technique | | | Significant Unobservable Inputs | | | Input/Range | | |||
Common Stocks | | | | $ | 83,354 | | | | Market Approach | | | Adjustments to prior transactions | | | Low – 0% (9/30/2016) High – 0% (9/30/2017) | |
| | | Fair Value at September 30, 2017 | | | Valuation Technique | | | Significant Unobservable Inputs | | | Input/Range | | |||
Common Stocks | | | | $ | 34,069 | | | | Market Approach | | | Adjustments to prior transactions | | | Low – 0% (9/30/2016) High – 0% (9/30/2017) | |
| | | Fair Value at September 30, 2017 | | | Valuation Technique | | | Significant Unobservable Inputs | | | Input/Range | | |||
Common Stocks | | | | $ | 37,225 | | | | Market Approach | | | Adjustments to prior transactions | | | Low – 0% (9/30/2016) High – 0% (9/30/2017) | |
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
Unobservable Input | | | Impact to Valuation if input increases | | | Impact to Valuation if input decreases | |
Adjustments to prior transactions | | | Increase | | | Decrease | |
| | | Asset Derivatives | | | Liability Derivatives | | ||||||||||||
Derivatives Not Accounted For as Hedging Instruments Under ASC 815 | | | Statement of Assets and Liabilities Location | | | Fair Value | | | Statement of Assets and Liabilities Location | | | Fair Value | | ||||||
Foreign Exchange Risk Exposure: | | | | | | | | | | | | | | | | | | | |
Forward Foreign Currency Contracts | | | Unrealized appreciation of forward foreign currency contracts | | | | $ | 15,769 | | | | Unrealized depreciation of forward foreign currency contracts | | | | $ | 3,999 | | |
Derivatives Not Accounted For as Hedging Instruments Under ASC 815 | | | Location of Gain (Loss) On Derivatives | | | Net Realized Gain (Loss) | | | Net Increase (Decrease) In Unrealized Appreciation (Depreciation) | | ||||||
Foreign Exchange Risk Exposure: | | | | | | | | | | | | | | | | |
Forward Foreign Currency Contracts | | | Net realized and unrealized gain (loss) on investments and foreign currency transactions | | | | $ | (79,927) | | | | | $ | 15,198 | | |
| | | Notional Amount | | |||
Foreign Exchange Risk Exposure: | | | | | | | |
Forward Foreign Currency Contracts | | | | $ | 2,439,351 | | |
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
Fund | | | Purchases | | | Sales | | ||||||
CSOP FTSE China A50 ETF | | | | $ | 2,023,250 | | | | | $ | 2,559,701 | | |
CSOP MSCI China A International Hedged ETF | | | | | 7,260 | | | | | | 104,073 | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 144,514 | | | | | | 179,876 | | |
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
NOTES TO FINANCIAL STATEMENTS
September 30, 2017
| | | Ordinary Income | | |||||||||
Fund | | | 2017 | | | 2016 | | ||||||
CSOP FTSE China A50 ETF | | | | $ | 70,343 | | | | | $ | 1,564,161 | | |
CSOP MSCI China A International Hedged ETF | | | | | 63,186 | | | | | | — | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 23,896 | | | | | | — | | |
| | | Undistributed Ordinary Income | | | Net Unrealized Appreciation (Depreciation) | | | Late Year Ordinary Loss Deferral | | | Capital Loss Carryforward | | ||||||||||||||||||||||||||||||||||||
Fund | | | 2017 | | | 2016 | | | 2017 | | | 2016 | | | 2017 | | | 2016 | | | 2017 | | | 2016 | | ||||||||||||||||||||||||
CSOP FTSE China A50 ETF | | | | $ | 388,293 | | | | | $ | 54,058 | | | | | $ | 598,006 | | | | | $ | (611,922) | | | | | $ | — | | | | | $ | — | | | | | $ | (2,713,121) | | | | | $ | (2,442,770) | | |
CSOP MSCI China A International Hedged ETF | | | | | — | | | | | | 63,186 | | | | | | (7,067) | | | | | | (198,454) | | | | | | (7,695) | | | | | | — | | | | | | (263,357) | | | | | | (258,628) | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 58,437 | | | | | | 21,149 | | | | | | 89,391 | | | | | | (120,915) | | | | | | — | | | | | | — | | | | | | (459,513) | | | | | | (443,626) | | |
| | | Increase (Decrease) | | |||||||||||||||
Fund | | | Undistributed Net Investment Income (Loss) | | | Undistributed Net Realized Gain (Loss) | | | Paid-in Capital | | |||||||||
CSOP FTSE China A50 ETF | | | | $ | 54,449 | | | | | $ | (54,447) | | | | | $ | (2) | | |
CSOP MSCI China A International Hedged ETF | | | | | (75,762) | | | | | | 75,672 | | | | | | — | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 1,374 | | | | | | (1,374) | | | | | | — | | |
| | | Capital Loss Carryforward | | |||||||||||||||
Fund | | | Short-Term | | | Long-Term | | | Total | | |||||||||
CSOP FTSE China A50 ETF | | | | $ | 2,077,995 | | | | | $ | 635,126 | | | | | $ | 2,713,121 | | |
CSOP MSCI China A International Hedged ETF | | | | | 258,187 | | | | | | 5,170 | | | | | | 263,357 | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 440,044 | | | | | | 19,469 | | | | | | 459,513 | | |
and the Shareholders of CSOP FTSE China A50 ETF,
CSOP MSCI China A International Hedged ETF, and
CSOP China CSI 300 A-H Dynamic ETF
![[MISSING IMAGE: sig_bbdllpbk.jpg]](https://capedge.com/proxy/N-CSR/0001144204-17-063102/sig_bbdllpbk.jpg)
Philadelphia, Pennsylvania
November 22, 2017
September 30, 2017 (unaudited)
| | | Qualified Dividend Income | | |||
CSOP FTSE China A50 ETF | | | | | 100.00% | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 100.00% | | |
| | | Gross Foreign Income | | | Foreign Taxes Paid | | ||||||||||||||||||
| | | Amount | | | Per Share | | | Amount | | | Per Share | | ||||||||||||
CSOP FTSE China A50 ETF | | | | $ | 147,325 | | | | | $ | 0.3630 | | | | | $ | 15,125 | | | | | $ | 0.0373 | | |
CSOP China CSI 300 A-H Dynamic ETF | | | | | 32,817 | | | | | | 0.6563 | | | | | | 3,406 | | | | | | 0.0681 | | |
Period Covered: October 1, 2016 through September 30, 2017
Premium/Discount Range | | | Number of Days | | | Percentage of Total Days | | ||||||
Greater than 2.0% | | | | | 0 | | | | | | 0.00% | | |
Greater than 1.5% and Less than 2.0% | | | | | 2 | | | | | | 0.85 | | |
Greater than 1.0% and Less than 1.5% | | | | | 3 | | | | | | 1.28 | | |
Greater than 0.5% and Less than 1.0% | | | | | 29 | | | | | | 12.34 | | |
Between 0.5% and -0.5% | | | | | 132 | | | | | | 56.17 | | |
Less than -0.5% | | | | | 69 | | | | | | 29.36 | | |
Total | | | | | 235 | | | | | | 100.00% | | |
|
Period Covered: October 1, 2016 through September 30, 2017
Premium/Discount Range | | | Number of Days | | | Percentage of Total Days | | ||||||
Greater than 2.0% | | | | | 0 | | | | | | 0.00% | | |
Greater than 1.5% and Less than 2.0% | | | | | 0 | | | | | | 0.00 | | |
Greater than 1.0% and Less than 1.5% | | | | | 0 | | | | | | 0.00 | | |
Greater than 0.5% and Less than 1.0% | | | | | 0 | | | | | | 0.00 | | |
Between 0.5% and -0.5% | | | | | 5 | | | | | | 27.78 | | |
Less than -0.5% | | | | | 13 | | | | | | 72.22 | | |
Total | | | | | 18 | | | | | | 100.00% | | |
|
Period Covered: October 1, 2016 through September 30, 2017
Premium/Discount Range | | | Number of Days | | | Percentage of Total Days | | ||||||
Greater than 2.0% | | | | | 0 | | | | | | 0.00% | | |
Greater than 1.5% and Less than 2.0% | | | | | 0 | | | | | | 0.00 | | |
Greater than 1.0% and Less than 1.5% | | | | | 0 | | | | | | 0.00 | | |
Greater than 0.5% and Less than 1.0% | | | | | 5 | | | | | | 11.36 | | |
Between 0.5% and -0.5% | | | | | 21 | | | | | | 47.73 | | |
Less than -0.5% | | | | | 18 | | | | | | 40.91 | | |
Total | | | | | 44 | | | | | | 100.00% | | |
|
Name, Address and Age(1) | | | Position with Trust and Length of Term(2) | | | Principal Occupations in the Past 5 Years | | | Number of Portfolios in Fund Complex(3) Overseen by Trustee | | | Other Directorships Held in the Past 5 Years | |
Interested Trustees | | | | | | | | | | | | | |
Chen Ding (Born: 1969) | | | Trustee(4) (Since 2015) | | | CEO of CSOP Asset Management Limited (2008 – present) | | | 3 | | | CSOP Asset Management Limited (2008 – present); Chinese Asset Management Association of HK Limited (2013 – present); Chinese Securities Association of HK (2013 – present); Source CSOP Markets plc (2013 – present); CSOP Alternative Funds plc (2014 – 2016); CSOP Investment Funds plc (2015 – 2017); Alternative Value Investments Limited (2016 – present); Famous Dragon Capital Limited (2016 – present); The Hong Kong Chinese Enterprises Association (2015 – present); Chinese Financial Association of Hong Kong (2015 – present). | |
Independent Trustees | | | | | | | | | | | | | |
Karl-Otto Hartmann (Born: 1955) | | | Trustee (Since 2015) | | | Founder and CEO of IntelliMagic LLC consulting practice (2005 – present); CEO of 40Act.com, LLC (2012 – present); Adjunct professor at Suffolk University School of Law (2007 – present) | | | 3 | | | Horizons ETF Trust (2014 – 2017); FocusShares Trust (2007 – 2012); The Thirty-Eight Hundred Fund, LLC (2008 – 2012). | |
Chia Ling Chen (Born: 1970) | | | Trustee (Since 2015) | | | CEO of China Asset Management (Hong Kong) Limited (2009 – 2014) | | | 3 | | | Chyang Sheng Dyeing & Finishing Co., Ltd. (2015 – present); China Aircraft Leasing Group Holdings Limited (2016 – present). | |
Name, Address and Age(1) | | | Position with Trust and Length of Term(2) | | | Principal Occupations in Past 5 Years | |
Chen Ding (Born: 1969) | | | President (Since 2015); and Principal Executive Officer (Since 2016) | | | CEO, CSOP Asset Management Limited (2008 – present) | |
Michelle Wong (Born: 1980) | | | Secretary (Since 2015) | | | Executive Director, General Counsel and CCO, CSOP Asset Management Ltd. (2016 – present); Director, China Southern Dragon Dynamic Multi-Strategy Fund SPC (2017 – present); Director, China Southern Dragon Dynamic Fund (2016 – present); Director, CSOP Simpleway Multi Strategy Fund SPC (2016 – present); Director, General Counsel and CCO, CSOP Asset Management Ltd. (2015 – 2016); Director, Legal Counsel, CSOP Asset Management Ltd. (2014 – 2015); Assistant Solicitor, Reed Smith Richards Butler (2009 – 2014). | |
Monique Labbe (Born: 1973) | | | Principal Financial Officer and Treasurer (Since 2015) | | | Fund Principal Financial Officer, Foreside Fund Management Services, LLC (2014 – present); Principal/Assistant Vice President, State Street Global Advisors (2012 – 2014); Director/Assistant Vice President, State Street Corporation (2005 – 2012). | |
Patrick J. Keniston, Esq. (Born: 1964) | | | Chief Compliance Officer (Since 2015) | | | Managing Director of Foreside Fund Officer Services, LLC (October 2008 – present). | |
CSOP FTSE China A50 ETF
Investment Adviser
2801-2803, Two Exchange Square, 8 Connaught Place
Central, Hong Kong
1290 Broadway, Suite 1100
Denver, CO 80203
1111 Pennsylvania Avenue NW
Washington, DC 20004-2541
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Item 2. Code of Ethics.
As of the period ended September 30, 2017, the Registrant has adopted a code of ethics (“Code”) that applies to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party. The Registrant has not amended any provision in its Code that relates to an element of the Code’s definitions enumerated in paragraph (b) of Item 2 of this Form N-CSR. A copy of this Code is filed as an Exhibit to this Form N-CSR pursuant to Item 12(a)(1).
The Registrant has not granted any waiver, including any implicit waiver, from a provision of its Code to the Registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the Registrant or a third party. |
Item 3. Audit Committee Financial Expert.
The Board of Trustees of the Registrant has determined that Karl-Otto Hartmann possesses the attributes identified in Instruction (b) of Item 3 to Form N-CSR to each qualify as an “audit committee financial expert,” and has designated Karl-Otto Hartmann as the Registrant’s audit committee financial expert. Mr. Karl-Otto Hartmann is an “independent” Trustee pursuant to paragraph (a)(2) of Item 3 to Form N-CSR. |
Item 4. Principal Accountant Fees and Services.
(a) | Audit Fees |
The aggregate fees billed for the last two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $39,000 in 2016 and $39,000 in 2017.
(b) | Audit Related Fees |
The aggregate fees billed in each of the last two fiscal years for assurance and related services rendered to the Registrant by the principal accountant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 in 2016 and $0 in 2017.
(c) | Tax Fees |
The aggregate fees billed in each of the last two fiscal years for professional services rendered to the Registrant by the principal accountant for tax compliance, tax advice and tax planning were $12,000 in 2016 and $12,000 in 2017. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local entity tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification.
(d) | All Other Fees |
The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 in 2016 and $0 in 2017.
(e)(1) | Pursuant to the Registrant’s Audit Committee Charter that has been adopted by the audit committee, the audit committee shall approve all audit and permissible non-audit services to be provided to the Registrant and all permissible non-audit services to be provided to its investment adviser or any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant if the engagement relates directly to the operations and financial reporting of the Registrant. |
(e)(2) | The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X, with respect to: Audit-Related Fees were 0%; Tax Fees were 100%; and Other Fees were 0%. |
(f) | Not applicable. |
(g) | The aggregate non-audit fees billed by the Registrant's accountant for services rendered to the Registrant, and rendered to the Registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant for the last two fiscal years of the Registrant were $0 for 2016 and $0 for 2017. |
(h) | The Registrant’s audit committee has considered whether the provision of non-audit services that were rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. |
Item 5. Audit Committee of Listed Registrants.
Not applicable. |
Item 6. Investments.
(a) | This schedule is included as part of the report to shareholders filed under Item 1 of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not Applicable. |
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable. |
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable. |
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no changes to the procedures by which shareholders may recommend nominees by the Registrant’s Board of Trustees that would require disclosures herein. |
Item 11. Controls and Procedures.
(a) | The Registrant’s principal executive and financial officers have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective, as of a date within 90 days of the filing date of this Form N-CSR, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). |
(b) | There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant's last fiscal half-year that has materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. |
Item 12. Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications required by Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are filed as Exhibit 12(a)(2) to this Form N-CSR. |
(a)(3) | Not applicable. |
(b) | Certifications required by Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are furnished as Exhibit 12(b) to this Form N-CSR. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) CSOP ETF Trust
By: (Signature and Title)
/s/ Ding Chen
Ding Chen
Title: Principal Executive Officer
Date: December 11, 2017
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: (Signature and Title)
/s/ Ding Chen
Ding Chen
Title: Principal Executive Officer
Date: December 11, 2017
By: (Signature and Title)
/s/ Monique Labbe
Monique Labbe
Title: Treasurer and Principal Financial Officer
Date: December 11, 2017