KBND vs. KMLM

Last updated Apr 1, 2026

Compare and contrast key facts about KraneShares Bloomberg China Bond Inclusion Index ETF (KBND) and KFA Mount Lucas Index Strategy ETF (KMLM).

KBND and KMLM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KBND is a passively managed fund by CICC that tracks the performance of the KBND-US - Bloomberg China Inclusion Focused Bond Index. It was launched on Dec 3, 2014. KMLM is an actively managed fund by CICC. It was launched on Dec 2, 2020.

Performance

KBND vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Bloomberg China Bond Inclusion Index ETF (KBND) and KFA Mount Lucas Index Strategy ETF (KMLM). The values are adjusted to include any dividend payments, if applicable.

KBND vs. KMLM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.89%	3.13%	-6.81%	4.41%	0.62%
KMLM KFA Mount Lucas Index Strategy ETF	8.67%	-2.98%	-1.69%	-5.66%	30.61%	7.04%	5.40%

Returns By Period

KBND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMLM

• 1D: -0.28%
• 1M: 4.21%
• YTD: 8.67%
• 6M: 10.01%
• 1Y: 8.60%
• 3Y*: 0.44%
• 5Y*: 5.63%
• 10Y*: —

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

KBND vs. KMLM - Expense Ratio Comparison

KBND has a 0.50% expense ratio, which is lower than KMLM's 0.90% expense ratio.

KMLM

KFA Mount Lucas Index Strategy ETF

KBND

KraneShares Bloomberg China Bond Inclusion Index ETF

Return for Risk

KBND vs. KMLM — Risk / Return Rank

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

KMLM

KMLM Risk / Return Rank: 46
KMLM Sharpe Ratio Rank: 52
KMLM Sortino Ratio Rank: 50
KMLM Omega Ratio Rank: 44
KMLM Calmar Ratio Rank: 48
KMLM Martin Ratio Rank: 38

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.

KBND vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Bloomberg China Bond Inclusion Index ETF (KBND) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	KBND	KMLM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.88	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.49	—

Correlation

The correlation between KBND and KMLM is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

KBND vs. KMLM - Dividend Comparison

KBND has not paid dividends to shareholders, while KMLM's dividend yield for the trailing twelve months is around 4.62%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KBND KraneShares Bloomberg China Bond Inclusion Index ETF	0.00%	0.00%	0.40%	2.20%	2.51%	6.97%	2.27%	3.47%	4.98%	0.00%	0.04%	1.16%
KMLM KFA Mount Lucas Index Strategy ETF	4.62%	5.02%	0.82%	0.00%	13.22%	6.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	KBND	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	—	-27.47%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.47%	—
Current Drawdown Current decline from peak	—	-15.27%	—
Average Drawdown Average peak-to-trough decline	—	-12.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.41%	—

Volatility

Volatility by Period

	KBND	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.84%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.57%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	14.67%	—