The KraneShares 2x Long BABA Daily ETF (KBAB) is an exchange-traded fund that seeks to achieve daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the American Depositary Receipt (ADR) of Alibaba Group Holding Limited (NYSE: BABA). The fund utilizes derivatives, such as swap agreements and options, to attain its investment objective.