KEMQ vs. KMLM
KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - KEMQ is a Emerging Markets Equities fund tracking the Solactive Emerging Markets Consumer Technology Index, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. Both are passively managed. Over the past 5 years, KEMQ returned -4.34%/yr vs 4.22%/yr for KMLM. At a correlation of -0.10, they often move in opposite directions. KEMQ charges 0.60%/yr vs 0.90%/yr for KMLM.
Performance
KEMQ vs. KMLM - Performance Comparison
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Returns By Period
In the year-to-date period, KEMQ achieves a 1.76% return, which is significantly lower than KMLM's 6.32% return.
KEMQ
- 1D
- -0.74%
- 1M
- -1.91%
- YTD
- 1.76%
- 6M
- 1.71%
- 1Y
- 17.94%
- 3Y*
- 22.81%
- 5Y*
- -4.34%
- 10Y*
- —
KMLM
- 1D
- 0.69%
- 1M
- -4.50%
- YTD
- 6.32%
- 6M
- 6.50%
- 1Y
- 11.18%
- 3Y*
- -0.73%
- 5Y*
- 4.22%
- 10Y*
- —
KEMQ vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 1.76% | 56.28% | 13.81% | 0.77% | -38.09% | -27.31% | 7.19% |
KMLM KFA Mount Lucas Index Strategy ETF | 6.32% | -2.98% | -1.69% | -5.66% | 30.61% | 7.04% | 5.74% |
Correlation
The correlation between KEMQ and KMLM is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2020 | -0.10 |
The correlation between KEMQ and KMLM shifts across timeframes, from -0.13 (5 years) to -0.02 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KEMQ vs. KMLM — Risk / Return Rank
KEMQ
KMLM
KEMQ vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) 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.
| KEMQ | KMLM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.18 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 1.22 | -0.40 |
| Martin ratioReturn relative to average drawdown | 2.11 | 4.48 | -2.37 |
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Drawdowns
KEMQ vs. KMLM - Drawdown Comparison
The maximum KEMQ drawdown since its inception was -70.72%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for KEMQ and KMLM.
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Drawdown Indicators
| KEMQ | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.72% | -27.47% | -43.25% |
Max Drawdown (1Y)Largest decline over 1 year | -21.94% | -9.18% | -12.76% |
Max Drawdown (3Y)Largest decline over 3 years | -21.94% | -22.28% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -66.02% | -27.47% | -38.55% |
Current DrawdownCurrent decline from peak | -31.65% | -17.10% | -14.55% |
Average DrawdownAverage peak-to-trough decline | -35.64% | -12.76% | -22.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.53% | 2.50% | +6.03% |
Volatility
KEMQ vs. KMLM - Volatility Comparison
KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a higher volatility of 11.21% compared to KFA Mount Lucas Index Strategy ETF (KMLM) at 3.15%. This indicates that KEMQ'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.
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Volatility by Period
| KEMQ | KMLM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.21% | 3.15% | +8.06% |
Volatility (6M)Calculated over the trailing 6-month period | 22.81% | 9.89% | +12.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.14% | 11.34% | +15.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.14% | 14.58% | +17.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.66% | 14.69% | +14.97% |
KEMQ vs. KMLM - Expense Ratio Comparison
KEMQ has a 0.60% expense ratio, which is lower than KMLM's 0.90% expense ratio.
Dividends
KEMQ vs. KMLM - Dividend Comparison
KEMQ's dividend yield for the trailing twelve months is around 5.18%, more than KMLM's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF | 5.18% | 5.27% | 0.73% | 0.29% | 0.00% | 0.28% | 2.28% | 1.76% |
KMLM KFA Mount Lucas Index Strategy ETF | 4.72% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% | 0.00% | 0.00% |
Frequently Asked Questions
KEMQ and KMLM have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMQ has higher volatility (11.21%) compared to KMLM (3.15%). In terms of maximum drawdown, KEMQ dropped -70.72% vs KMLM's -27.47%.
On 5-year performance, KMLM leads with 4.22% vs -4.34% for KEMQ. On fees, KEMQ is cheaper at 0.60% per year. On volatility, KMLM has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KMLM has performed better with a 4.22% return vs -4.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMQ is cheaper with a 0.60% expense ratio, compared with 0.90% for KMLM.
KEMQ has the higher dividend yield at 5.18%, compared with 4.72% for KMLM.
KEMQ is categorized as Emerging Markets Equities, while KMLM is Systematic Trend. KEMQ tracks Solactive Emerging Markets Consumer Technology Index, while KMLM tracks KFA MLM Index. They also come from different issuers: CICC and KraneShares. Their fees differ too: 0.60% for KEMQ and 0.90% for KMLM.
KMLM currently has the higher Sharpe Ratio (0.99 vs 0.66), 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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