AGIX vs. KMLM

Last updated Aug 6, 2026

AGIX (KraneShares Artificial Intelligence & Technology ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - AGIX is a Artificial Intelligence fund tracking the Solactive Etna Artificial General Intelligence Index, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. Both are passively managed. Over the past year, AGIX returned 41.17% vs 13.78% for KMLM. Their -0.01 correlation means they have often moved in opposite directions in the past. AGIX charges 1.00%/yr vs 0.90%/yr for KMLM.

Performance

AGIX vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Artificial Intelligence & Technology ETF (AGIX) and KFA Mount Lucas Index Strategy ETF (KMLM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGIX achieves a 22.77% return, which is significantly higher than KMLM's 9.36% return.

AGIX

• 1D: -1.61%
• 1M: -2.11%
• 6M: 33.77%
• YTD: 22.77%
• 1Y: 41.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.94%

KMLM

• 1D: 0.11%
• 1M: 3.01%
• 6M: 6.61%
• YTD: 9.36%
• 1Y: 13.78%
• 3Y*: -0.70%
• 5Y*: 5.08%
• 10Y*: —
• ALL TIME*: 6.83%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGIX KraneShares Artificial Intelligence & Technology ETF	$6.66M	$6.82M	$17.79M
KMLM KFA Mount Lucas Index Strategy ETF	$11.29M	$10.11M	$8.06M

AGIX vs. KMLM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AGIX KraneShares Artificial Intelligence & Technology ETF	22.77%	29.24%	12.92%
KMLM KFA Mount Lucas Index Strategy ETF	9.36%	-2.98%	-5.44%

Correlation

The correlation between AGIX and KMLM is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.07
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024	-0.01

Return for Risk

AGIX vs. KMLM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AGIX

AGIX Risk / Return Rank: 47
AGIX Sharpe Ratio Rank: 50
AGIX Sortino Ratio Rank: 48
AGIX Omega Ratio Rank: 45
AGIX Calmar Ratio Rank: 51
AGIX Martin Ratio Rank: 42

KMLM

KMLM Risk / Return Rank: 39
KMLM Sharpe Ratio Rank: 41
KMLM Sortino Ratio Rank: 38
KMLM Omega Ratio Rank: 40
KMLM Calmar Ratio Rank: 36
KMLM Martin Ratio Rank: 39

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AGIX vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Artificial Intelligence & Technology ETF (AGIX) 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.

	AGIX	KMLM	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.18	+0.25
Sortino ratio: Return per unit of downside risk	1.98	1.64	+0.34
Omega ratio: Gain probability vs. loss probability	1.24	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	2.08	1.44	+0.64
Martin ratio: Return relative to average drawdown	5.16	4.58	+0.58

AGIX vs. KMLM - Sharpe Ratio Comparison

The current AGIX Sharpe Ratio is 1.43, which is comparable to the KMLM Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of AGIX 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

AGIX vs. KMLM - Drawdown Comparison

The maximum AGIX drawdown since its inception was -31.48%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for AGIX and KMLM.

Drawdown Indicators

	AGIX	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-27.47%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	-19.85%	-9.61%	-10.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.47%	—
Current Drawdown Current decline from peak	-9.78%	-14.72%	+4.94%
Average Drawdown Average peak-to-trough decline	-6.19%	-12.79%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.99%	3.01%	+4.98%

Volatility

AGIX vs. KMLM - Volatility Comparison

KraneShares Artificial Intelligence & Technology ETF (AGIX) has a higher volatility of 10.35% compared to KFA Mount Lucas Index Strategy ETF (KMLM) at 4.54%. This indicates that AGIX'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

	AGIX	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	4.54%	+5.81%
Volatility (6M) Calculated over the trailing 6-month period	24.26%	10.15%	+14.11%
Volatility (1Y) Calculated over the trailing 1-year period	29.00%	11.72%	+17.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.23%	14.55%	+15.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.23%	14.68%	+15.55%

AGIX vs. KMLM - Expense Ratio Comparison

AGIX has a 1.00% expense ratio, which is higher than KMLM's 0.90% expense ratio.

Dividends

AGIX vs. KMLM - Dividend Comparison

AGIX's dividend yield for the trailing twelve months is around 0.98%, less than KMLM's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021
AGIX KraneShares Artificial Intelligence & Technology ETF	0.98%	1.21%	0.77%	0.00%	0.00%	0.00%
KMLM KFA Mount Lucas Index Strategy ETF	4.59%	5.02%	0.82%	0.00%	13.22%	6.94%

Frequently Asked Questions

Can I hold both AGIX and KMLM in my portfolio?

AGIX and KMLM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGIX or KMLM?

AGIX has higher volatility (10.35%) compared to KMLM (4.54%). In terms of maximum drawdown, AGIX dropped -31.48% vs KMLM's -27.47%.

Which ETF is better, AGIX or KMLM?

On 1-year performance, AGIX leads with 41.17% vs 13.78% for KMLM. On fees, KMLM is cheaper at 0.90% per year. On volatility, KMLM has been the lower-risk option at 4.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGIX or KMLM?

Over the 1-year period, AGIX has performed better with a 41.17% return vs 13.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGIX or KMLM?

KMLM is cheaper with a 0.90% expense ratio, compared with 1.00% for AGIX.

Which ETF pays a higher dividend yield, AGIX or KMLM?

KMLM has the higher dividend yield at 4.59%, compared with 0.98% for AGIX.

What is the main difference between AGIX and KMLM?

AGIX is categorized as Artificial Intelligence, while KMLM is Systematic Trend. AGIX tracks Solactive Etna Artificial General Intelligence Index, while KMLM tracks KFA MLM Index. Their fees differ too: 1.00% for AGIX and 0.90% for KMLM.

Which has better risk-adjusted returns?

AGIX currently has the higher Sharpe Ratio (1.43 vs 1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.