KBDU vs. KMLM
KBDU (KraneShares 2X Long BIDU Daily ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - KBDU is a Leveraged Equities fund actively managed by KraneShares, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. KBDU is actively managed, while KMLM is passively managed. At a correlation of -0.13, they often move in opposite directions. KBDU charges 1.26%/yr vs 0.90%/yr for KMLM.
Performance
KBDU vs. KMLM - Performance Comparison
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Returns By Period
In the year-to-date period, KBDU achieves a -40.49% return, which is significantly lower than KMLM's 5.59% return.
KBDU
- 1D
- -2.84%
- 1M
- -27.80%
- YTD
- -40.49%
- 6M
- -34.08%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KMLM
- 1D
- -1.30%
- 1M
- -6.21%
- YTD
- 5.59%
- 6M
- 5.76%
- 1Y
- 10.89%
- 3Y*
- -1.13%
- 5Y*
- 4.07%
- 10Y*
- —
KBDU vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KBDU KraneShares 2X Long BIDU Daily ETF | -40.49% | 19.79% |
KMLM KFA Mount Lucas Index Strategy ETF | 5.59% | 3.01% |
Correlation
The correlation between KBDU and KMLM is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025 | -0.13 |
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Return for Risk
KBDU vs. KMLM — Risk / Return Rank
KBDU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KMLM
KBDU vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares 2X Long BIDU Daily ETF (KBDU) 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.
| KBDU | KMLM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.17 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.19 | — |
| Martin ratioReturn relative to average drawdown | — | 4.46 | — |
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Drawdowns
KBDU vs. KMLM - Drawdown Comparison
The maximum KBDU drawdown since its inception was -60.20%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for KBDU and KMLM.
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Drawdown Indicators
| KBDU | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.20% | -27.47% | -32.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.18% | — |
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 | -60.20% | -17.67% | -42.53% |
Average DrawdownAverage peak-to-trough decline | -30.99% | -12.76% | -18.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.44% | — |
Volatility
KBDU vs. KMLM - Volatility Comparison
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Volatility by Period
| KBDU | KMLM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 9.90% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 102.83% | 11.34% | +91.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 102.83% | 14.58% | +88.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.83% | 14.69% | +88.14% |
KBDU vs. KMLM - Expense Ratio Comparison
KBDU has a 1.26% expense ratio, which is higher than KMLM's 0.90% expense ratio.
Dividends
KBDU vs. KMLM - Dividend Comparison
KBDU has not paid dividends to shareholders, while KMLM's dividend yield for the trailing twelve months is around 4.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KBDU KraneShares 2X Long BIDU Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KMLM KFA Mount Lucas Index Strategy ETF | 4.76% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% |
Frequently Asked Questions
KBDU and KMLM have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, KMLM is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
KMLM is cheaper with a 0.90% expense ratio, compared with 1.26% for KBDU.
KMLM has the higher dividend yield at 4.76%, compared with 0.00% for KBDU.
KBDU is categorized as Leveraged Equities, while KMLM is Systematic Trend. Their fees differ too: 1.26% for KBDU and 0.90% for KMLM.
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