0883.HK vs. KMLM

Last updated Jun 13, 2026

0883.HK (CNOOC Ltd) is a stock, while KMLM (KFA Mount Lucas Index Strategy ETF) is Systematic Trend fund tracking the KFA MLM Index. Over the past 5 years, 0883.HK returned 34.47%/yr vs 4.30%/yr for KMLM. At a 0.03 correlation, their price movements are largely independent.

Performance

0883.HK vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in CNOOC Ltd (0883.HK) and KFA Mount Lucas Index Strategy ETF (KMLM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

0883.HK is traded in HKD, while KMLM is traded in USD. To make them comparable, the KMLM values have been converted to HKD using the latest available exchange rates.

Returns By Period

In the year-to-date period, 0883.HK achieves a 19.57% return, which is significantly higher than KMLM's 9.05% return.

0883.HK

• 1D: 0.81%
• 1M: -3.60%
• YTD: 19.57%
• 6M: 21.97%
• 1Y: 41.30%
• 3Y*: 39.61%
• 5Y*: 34.47%
• 10Y*: 18.72%

KMLM

• 1D: -0.54%
• 1M: -5.10%
• YTD: 9.05%
• 6M: 10.40%
• 1Y: 13.04%
• 3Y*: -1.51%
• 5Y*: 4.30%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

0883.HK vs. KMLM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
0883.HK CNOOC Ltd	19.57%	19.77%	57.91%	44.90%	46.98%	19.64%	-7.35%
KMLM KFA Mount Lucas Index Strategy ETF	9.05%	-2.79%	-2.20%	-5.67%	30.84%	7.62%	5.78%

Correlation

The correlation between 0883.HK and KMLM is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Dec 2, 2020	0.03

Return for Risk

0883.HK vs. KMLM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

0883.HK

0883.HK Risk / Return Rank: 82
0883.HK Sharpe Ratio Rank: 85
0883.HK Sortino Ratio Rank: 81
0883.HK Omega Ratio Rank: 79
0883.HK Calmar Ratio Rank: 82
0883.HK Martin Ratio Rank: 83

KMLM

KMLM Risk / Return Rank: 36
KMLM Sharpe Ratio Rank: 33
KMLM Sortino Ratio Rank: 31
KMLM Omega Ratio Rank: 32
KMLM Calmar Ratio Rank: 41
KMLM Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

0883.HK vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CNOOC Ltd (0883.HK) and KFA Mount Lucas Index Strategy ETF (KMLM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	0883.HK	KMLM	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.04	+0.56
Sortino ratio: Return per unit of downside risk	2.26	1.48	+0.78
Omega ratio: Gain probability vs. loss probability	1.27	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.65	1.77	+0.88
Martin ratio: Return relative to average drawdown	7.00	5.08	+1.92

0883.HK vs. KMLM - Sharpe Ratio Comparison

The current 0883.HK Sharpe Ratio is 1.60, which is higher than the KMLM Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of 0883.HK and KMLM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

0883.HK vs. KMLM - Drawdown Comparison

The maximum 0883.HK drawdown since its inception was -74.17%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for 0883.HK and KMLM.

Drawdown Indicators

	0883.HK	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	-74.17%	-27.47%	-46.70%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-6.75%	-10.42%
Max Drawdown (3Y) Largest decline over 3 years	-30.80%	-22.03%	-8.77%
Max Drawdown (5Y) Largest decline over 5 years	-30.80%	-27.47%	-3.33%
Max Drawdown (10Y) Largest decline over 10 years	-56.59%	—	—
Current Drawdown Current decline from peak	-16.50%	-15.70%	-0.80%
Average Drawdown Average peak-to-trough decline	-24.10%	-12.99%	-11.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	2.37%	+4.06%

Volatility

0883.HK vs. KMLM - Volatility Comparison

CNOOC Ltd (0883.HK) has a higher volatility of 8.11% compared to KFA Mount Lucas Index Strategy ETF (KMLM) at 3.36%. This indicates that 0883.HK's price experiences larger fluctuations and is considered to be riskier than KMLM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	0883.HK	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.11%	3.36%	+4.75%
Volatility (6M) Calculated over the trailing 6-month period	24.22%	9.82%	+14.40%
Volatility (1Y) Calculated over the trailing 1-year period	28.40%	11.51%	+16.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.79%	14.63%	+15.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.86%	14.71%	+17.15%

Dividends

0883.HK vs. KMLM - Dividend Comparison

0883.HK's dividend yield for the trailing twelve months is around 5.14%, more than KMLM's 4.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
0883.HK CNOOC Ltd	5.14%	6.53%	7.32%	10.31%	18.84%	6.85%	9.05%	5.63%	4.96%	3.83%	3.81%	7.06%
KMLM KFA Mount Lucas Index Strategy ETF	4.64%	5.02%	0.82%	0.00%	13.22%	6.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both 0883.HK and KMLM in my portfolio?

0883.HK and KMLM have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.