IBIL vs. KMLM
IBIL (iShares iBonds Oct 2035 Term TIPS ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - IBIL is a Inflation-Protected Bonds fund tracking the ICE 2035 Maturity US Treasury TIPS Index, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. Both are passively managed. Over the past year, IBIL returned 2.51% vs 13.72% for KMLM. Their -0.16 correlation means they have often moved in opposite directions in the past. IBIL charges 0.10%/yr vs 0.90%/yr for KMLM.
Performance
IBIL vs. KMLM - Performance Comparison
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Returns By Period
In the year-to-date period, IBIL achieves a 0.60% return, which is significantly lower than KMLM's 9.25% return.
IBIL
- 1D
- 0.13%
- 1M
- -0.59%
- 6M
- 0.56%
- YTD
- 0.60%
- 1Y
- 2.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.96%
KMLM
- 1D
- -1.25%
- 1M
- 3.35%
- 6M
- 6.30%
- YTD
- 9.25%
- 1Y
- 13.72%
- 3Y*
- -0.73%
- 5Y*
- 5.03%
- 10Y*
- —
- ALL TIME*
- 6.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $384.77K | $347.69K | $275.27K | |
| $10.97M | $9.97M | $8.03M |
IBIL vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 0.60% | 4.77% |
KMLM KFA Mount Lucas Index Strategy ETF | 9.25% | -0.50% |
Correlation
The correlation between IBIL and KMLM is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.16 |
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Return for Risk
IBIL vs. KMLM — Risk / Return Rank
IBIL
KMLM
IBIL vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) 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.
| IBIL | KMLM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.21 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.43 | -0.52 |
| Martin ratioReturn relative to average drawdown | 2.03 | 4.60 | -2.57 |
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Drawdowns
IBIL vs. KMLM - Drawdown Comparison
The maximum IBIL drawdown since its inception was -5.28%, smaller than the maximum KMLM drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for IBIL and KMLM.
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Drawdown Indicators
| IBIL | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.28% | -27.47% | +22.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -9.61% | +6.85% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.28% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.47% | — |
Current DrawdownCurrent decline from peak | -1.62% | -14.81% | +13.19% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -12.79% | +11.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 2.99% | -1.75% |
Volatility
IBIL vs. KMLM - Volatility Comparison
The current volatility for iShares iBonds Oct 2035 Term TIPS ETF (IBIL) is 1.01%, while KFA Mount Lucas Index Strategy ETF (KMLM) has a volatility of 4.59%. This indicates that IBIL experiences smaller price fluctuations and is considered to be less risky than KMLM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIL | KMLM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 4.59% | -3.58% |
Volatility (6M)Calculated over the trailing 6-month period | 3.30% | 10.19% | -6.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.55% | 11.73% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 14.56% | -6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.85% | 14.69% | -6.84% |
IBIL vs. KMLM - Expense Ratio Comparison
IBIL has a 0.10% expense ratio, which is lower than KMLM's 0.90% expense ratio.
Dividends
IBIL vs. KMLM - Dividend Comparison
IBIL's dividend yield for the trailing twelve months is around 5.14%, more than KMLM's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBIL iShares iBonds Oct 2035 Term TIPS ETF | 5.14% | 2.93% | 0.00% | 0.00% | 0.00% | 0.00% |
KMLM KFA Mount Lucas Index Strategy ETF | 4.60% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% |
Frequently Asked Questions
IBIL and KMLM have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMLM has higher volatility (4.59%) compared to IBIL (1.01%). In terms of maximum drawdown, IBIL dropped -5.28% vs KMLM's -27.47%.
On 1-year performance, KMLM leads with 13.72% vs 2.51% for IBIL. On fees, IBIL is cheaper at 0.10% per year. On volatility, IBIL has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KMLM has performed better with a 13.72% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIL is cheaper with a 0.10% expense ratio, compared with 0.90% for KMLM.
IBIL has the higher dividend yield at 5.14%, compared with 4.60% for KMLM.
IBIL is categorized as Inflation-Protected Bonds, while KMLM is Systematic Trend. IBIL tracks ICE 2035 Maturity US Treasury TIPS Index, while KMLM tracks KFA MLM Index. They also come from different issuers: iShares and KraneShares. Their fees differ too: 0.10% for IBIL and 0.90% for KMLM.
KMLM currently has the higher Sharpe Ratio (1.18 vs 0.46), 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.
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