KMLM vs. KEMX
Compare and contrast key facts about KFA Mount Lucas Index Strategy ETF (KMLM) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX).
KMLM and KEMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KMLM is an actively managed fund by CICC. It was launched on Dec 2, 2020. KEMX is a passively managed fund by CICC that tracks the performance of the MSCI Emerging Markets ex China Index. It was launched on Apr 12, 2019.
Performance
KMLM vs. KEMX - Performance Comparison
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KMLM vs. KEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 8.67% | -2.98% | -1.69% | -5.66% | 30.61% | 7.04% | 5.40% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 9.35% | 38.28% | 0.36% | 20.57% | -19.35% | 10.55% | 7.17% |
Returns By Period
In the year-to-date period, KMLM achieves a 8.67% return, which is significantly lower than KEMX's 9.35% return.
KMLM
- 1D
- -0.28%
- 1M
- 4.21%
- YTD
- 8.67%
- 6M
- 10.01%
- 1Y
- 8.60%
- 3Y*
- 0.44%
- 5Y*
- 5.63%
- 10Y*
- —
KEMX
- 1D
- 4.34%
- 1M
- -11.07%
- YTD
- 9.35%
- 6M
- 21.09%
- 1Y
- 50.32%
- 3Y*
- 20.32%
- 5Y*
- 9.05%
- 10Y*
- —
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KMLM vs. KEMX - Expense Ratio Comparison
KMLM has a 0.90% expense ratio, which is higher than KEMX's 0.25% expense ratio.
Return for Risk
KMLM vs. KEMX — Risk / Return Rank
KMLM
KEMX
KMLM vs. KEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KFA Mount Lucas Index Strategy ETF (KMLM) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX). 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.
| KMLM | KEMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 2.36 | -1.48 |
Sortino ratioReturn per unit of downside risk | 1.27 | 3.00 | -1.73 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.44 | -0.28 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.25 | -2.12 |
Martin ratioReturn relative to average drawdown | 3.31 | 13.60 | -10.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KMLM | KEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 2.36 | -1.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.52 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.50 | -0.02 |
Correlation
The correlation between KMLM and KEMX is -0.05. 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
KMLM vs. KEMX - Dividend Comparison
KMLM's dividend yield for the trailing twelve months is around 4.62%, more than KEMX's 3.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 4.62% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% | 0.00% | 0.00% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 3.00% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% |
Drawdowns
KMLM vs. KEMX - Drawdown Comparison
The maximum KMLM drawdown since its inception was -27.47%, smaller than the maximum KEMX drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for KMLM and KEMX.
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Drawdown Indicators
| KMLM | KEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -38.80% | +11.33% |
Max Drawdown (1Y)Largest decline over 1 year | -6.73% | -15.36% | +8.63% |
Max Drawdown (5Y)Largest decline over 5 years | -27.47% | -30.85% | +3.38% |
Current DrawdownCurrent decline from peak | -15.27% | -11.68% | -3.59% |
Average DrawdownAverage peak-to-trough decline | -12.73% | -9.02% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 3.67% | -1.26% |
Volatility
KMLM vs. KEMX - Volatility Comparison
The current volatility for KFA Mount Lucas Index Strategy ETF (KMLM) is 4.05%, while KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a volatility of 12.58%. This indicates that KMLM experiences smaller price fluctuations and is considered to be less risky than KEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMLM | KEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 12.58% | -8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.22% | 16.96% | -9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.84% | 21.39% | -11.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.57% | 17.55% | -2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.67% | 20.61% | -5.94% |