KMLM vs. IB01.L
KMLM (KFA Mount Lucas Index Strategy ETF) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - KMLM is a Systematic Trend fund tracking the KFA MLM Index, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, KMLM returned 4.15%/yr vs 3.23%/yr for IB01.L. At a correlation of -0.14, they often move in opposite directions. KMLM charges 0.90%/yr vs 0.07%/yr for IB01.L.
Performance
KMLM vs. IB01.L - Performance Comparison
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Returns By Period
In the year-to-date period, KMLM achieves a 7.90% return, which is significantly higher than IB01.L's 1.56% return.
KMLM
- 1D
- -0.39%
- 1M
- -6.17%
- YTD
- 7.90%
- 6M
- 9.07%
- 1Y
- 12.79%
- 3Y*
- -0.78%
- 5Y*
- 4.15%
- 10Y*
- —
IB01.L
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.77%
- 1Y
- 3.96%
- 3Y*
- 4.71%
- 5Y*
- 3.23%
- 10Y*
- —
KMLM vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 7.90% | -2.98% | -1.69% | -5.66% | 30.61% | 7.04% | 5.74% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.56% | 4.34% | 5.25% | 4.92% | 1.08% | -0.85% | -0.00% |
Correlation
The correlation between KMLM and IB01.L is -0.17, 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 (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2020 | -0.14 |
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Return for Risk
KMLM vs. IB01.L — Risk / Return Rank
KMLM
IB01.L
KMLM vs. IB01.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KFA Mount Lucas Index Strategy ETF (KMLM) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L). 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.
| KMLM | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -10.79 | ||
| Sortino ratioReturn per unit of downside risk | -35.21 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 7.99 | -6.78 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 114.79 | -113.01 |
| Martin ratioReturn relative to average drawdown | 6.05 | 574.12 | -568.07 |
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Drawdowns
KMLM vs. IB01.L - Drawdown Comparison
The maximum KMLM drawdown since its inception was -27.47%, which is greater than IB01.L's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for KMLM and IB01.L.
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Drawdown Indicators
| KMLM | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -1.28% | -26.19% |
Max Drawdown (1Y)Largest decline over 1 year | -7.19% | -0.03% | -7.16% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -0.09% | -22.19% |
Max Drawdown (5Y)Largest decline over 5 years | -27.47% | -1.15% | -26.32% |
Current DrawdownCurrent decline from peak | -15.87% | 0.00% | -15.87% |
Average DrawdownAverage peak-to-trough decline | -12.74% | -0.24% | -12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.12% | 0.01% | +2.11% |
Volatility
KMLM vs. IB01.L - Volatility Comparison
KFA Mount Lucas Index Strategy ETF (KMLM) has a higher volatility of 3.31% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 0.09%. This indicates that KMLM's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMLM | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.31% | 0.09% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.74% | 0.23% | +9.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.47% | 0.33% | +11.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.62% | 0.54% | +14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.70% | 0.79% | +13.91% |
KMLM vs. IB01.L - Expense Ratio Comparison
KMLM has a 0.90% expense ratio, which is higher than IB01.L's 0.07% expense ratio.
Dividends
KMLM vs. IB01.L - Dividend Comparison
KMLM's dividend yield for the trailing twelve months is around 4.66%, while IB01.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
KMLM KFA Mount Lucas Index Strategy ETF | 4.66% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% |
Frequently Asked Questions
KMLM and IB01.L have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IB01.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IB01.L is cheaper with a 0.07% expense ratio, compared with 0.90% for KMLM.
KMLM is categorized as Systematic Trend, while IB01.L is Government Bonds. KMLM tracks KFA MLM Index, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: KraneShares and iShares. Their fees differ too: 0.90% for KMLM and 0.07% for IB01.L.
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