KJD vs. KMLM
KJD (KraneShares 2X Long JD Daily ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - KJD is a Leveraged Equities fund actively managed by KraneShares, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. KJD is actively managed, while KMLM is passively managed. At a 0.10 correlation, their price movements are largely independent. KJD charges 1.26%/yr vs 0.90%/yr for KMLM.
Performance
KJD vs. KMLM - Performance Comparison
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Returns By Period
In the year-to-date period, KJD achieves a -24.25% return, which is significantly lower than KMLM's 5.59% return.
KJD
- 1D
- -5.23%
- 1M
- -31.64%
- YTD
- -24.25%
- 6M
- -26.83%
- 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*
- —
KJD vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KJD KraneShares 2X Long JD Daily ETF | -24.25% | -28.21% |
KMLM KFA Mount Lucas Index Strategy ETF | 5.59% | 0.53% |
Correlation
The correlation between KJD and KMLM is 0.10, 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 (All Time) Calculated using the full available price history since Oct 15, 2025 | 0.10 |
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Return for Risk
KJD vs. KMLM — Risk / Return Rank
KJD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KMLM
KJD vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares 2X Long JD Daily ETF (KJD) 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.
| KJD | 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
KJD vs. KMLM - Drawdown Comparison
The maximum KJD drawdown since its inception was -49.41%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for KJD and KMLM.
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Drawdown Indicators
| KJD | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.41% | -27.47% | -21.94% |
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 | -49.41% | -17.67% | -31.74% |
Average DrawdownAverage peak-to-trough decline | -29.28% | -12.76% | -16.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.44% | — |
Volatility
KJD vs. KMLM - Volatility Comparison
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Volatility by Period
| KJD | 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 | 61.65% | 11.34% | +50.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.65% | 14.58% | +47.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.65% | 14.69% | +46.96% |
KJD vs. KMLM - Expense Ratio Comparison
KJD has a 1.26% expense ratio, which is higher than KMLM's 0.90% expense ratio.
Dividends
KJD vs. KMLM - Dividend Comparison
KJD 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 |
|---|---|---|---|---|---|---|
KJD KraneShares 2X Long JD 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
KJD and KMLM have a correlation of 0.10, 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 KJD.
KMLM has the higher dividend yield at 4.76%, compared with 0.00% for KJD.
KJD is categorized as Leveraged Equities, while KMLM is Systematic Trend. Their fees differ too: 1.26% for KJD and 0.90% for KMLM.
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