KIQQ vs. KMLM

Last updated Jul 2, 2026

KIQQ (KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - KIQQ is a Derivative Income fund actively managed by KraneShares, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. KIQQ is actively managed, while KMLM is passively managed. At a correlation of -0.15, they often move in opposite directions. KIQQ charges 0.79%/yr vs 0.90%/yr for KMLM.

Performance

KIQQ vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF (KIQQ) and KFA Mount Lucas Index Strategy ETF (KMLM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KIQQ

• 1D: -1.11%
• 1M: -2.18%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMLM

• 1D: 0.07%
• 1M: -3.54%
• YTD: 6.13%
• 6M: 6.13%
• 1Y: 9.55%
• 3Y*: -1.44%
• 5Y*: 3.93%
• 10Y*: —

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

KIQQ vs. KMLM - Yearly Performance Comparison

	2026 (YTD)
KIQQ KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF	7.69%
KMLM KFA Mount Lucas Index Strategy ETF	4.12%

Correlation

The correlation between KIQQ and KMLM is -0.15, 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 Jan 7, 2026	-0.15

Return for Risk

KIQQ vs. KMLM — Risk / Return Rank

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

KIQQ

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

KMLM

KMLM Risk / Return Rank: 25
KMLM Sharpe Ratio Rank: 26
KMLM Sortino Ratio Rank: 24
KMLM Omega Ratio Rank: 24
KMLM Calmar Ratio Rank: 23
KMLM Martin Ratio Rank: 28

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.

KIQQ vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF (KIQQ) 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.

	KIQQ	KMLM	Difference
Sharpe ratio: Return per unit of total volatility	—	0.84	—
Sortino ratio: Return per unit of downside risk	—	1.20	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.00	—
Martin ratio: Return relative to average drawdown	—	3.48	—

Drawdowns

KIQQ vs. KMLM - Drawdown Comparison

The maximum KIQQ drawdown since its inception was -8.89%, smaller than the maximum KMLM drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for KIQQ and KMLM.

Drawdown Indicators

	KIQQ	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	-8.89%	-27.47%	+18.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.61%	—
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	-2.71%	-17.25%	+14.54%
Average Drawdown Average peak-to-trough decline	-2.56%	-12.78%	+10.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.75%	—

Volatility

Volatility by Period

	KIQQ	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	11.37%	+4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	14.58%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	14.68%	+1.35%

KIQQ vs. KMLM - Expense Ratio Comparison

KIQQ has a 0.79% expense ratio, which is lower than KMLM's 0.90% expense ratio.

Dividends

KIQQ vs. KMLM - Dividend Comparison

KIQQ's dividend yield for the trailing twelve months is around 4.40%, less than KMLM's 4.73% yield.

Position	TTM	2025	2024	2023	2022	2021
KIQQ KraneShares InspereX Nasdaq Dynamic Buffered High Income Index ETF	4.40%	0.00%	0.00%	0.00%	0.00%	0.00%
KMLM KFA Mount Lucas Index Strategy ETF	4.73%	5.02%	0.82%	0.00%	13.22%	6.94%

Frequently Asked Questions

Can I hold both KIQQ and KMLM in my portfolio?

KIQQ and KMLM have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KIQQ or KMLM?

On fees, KIQQ is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KIQQ or KMLM?

KIQQ is cheaper with a 0.79% expense ratio, compared with 0.90% for KMLM.

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

KMLM has the higher dividend yield at 4.73%, compared with 4.40% for KIQQ.

What is the main difference between KIQQ and KMLM?

KIQQ is categorized as Derivative Income, while KMLM is Systematic Trend. Their fees differ too: 0.79% for KIQQ and 0.90% for KMLM.