KMLM vs. XEON.DE
KMLM (KFA Mount Lucas Index Strategy ETF) and XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) are both exchange-traded funds - KMLM is a Systematic Trend fund tracking the KFA MLM Index, while XEON.DE is a Money Market fund tracking the Solactive €STR +8.5 Daily Index. Both are passively managed. Over the past 5 years, KMLM returned 6.06%/yr vs 1.39%/yr for XEON.DE. At a correlation of -0.13, they often move in opposite directions. KMLM charges 0.90%/yr vs 0.10%/yr for XEON.DE.
Performance
KMLM vs. XEON.DE - Performance Comparison
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Different Trading Currencies
KMLM is traded in USD, while XEON.DE is traded in EUR. To make them comparable, the XEON.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, KMLM achieves a 12.72% return, which is significantly higher than XEON.DE's -1.60% return.
KMLM
- 1D
- 0.91%
- 1M
- 5.14%
- 6M
- 10.80%
- YTD
- 12.72%
- 1Y
- 15.01%
- 3Y*
- 0.26%
- 5Y*
- 6.06%
- 10Y*
- —
- ALL TIME*
- 7.46%
XEON.DE
- 1D
- 0.00%
- 1M
- -0.13%
- 6M
- -0.80%
- YTD
- -1.60%
- 1Y
- 0.33%
- 3Y*
- 3.90%
- 5Y*
- 1.39%
- 10Y*
- 1.16%
- ALL TIME*
- -0.69%
KMLM vs. XEON.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 12.72% | -2.98% | -1.69% | -5.66% | 30.61% | 7.04% | 5.74% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | -1.60% | 15.43% | -2.15% | 6.56% | -5.55% | -8.43% | 1.85% |
Correlation
The correlation between KMLM and XEON.DE is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2020 | -0.13 |
The correlation between KMLM and XEON.DE shifts across timeframes, from -0.17 (5 years) to 0.03 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
KMLM vs. XEON.DE — Risk / Return Rank
KMLM
XEON.DE
KMLM vs. XEON.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KFA Mount Lucas Index Strategy ETF (KMLM) and Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE). 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 | XEON.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.01 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 0.07 | +1.50 |
| Martin ratioReturn relative to average drawdown | 4.90 | 0.14 | +4.77 |
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Drawdowns
KMLM vs. XEON.DE - Drawdown Comparison
The maximum KMLM drawdown since its inception was -27.47%, smaller than the maximum XEON.DE drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for KMLM and XEON.DE.
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Drawdown Indicators
| KMLM | XEON.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -40.00% | +12.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -4.95% | -4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -22.28% | -7.52% | -14.76% |
Max Drawdown (5Y)Largest decline over 5 years | -27.47% | -19.76% | -7.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.15% | — |
Current DrawdownCurrent decline from peak | -12.11% | -20.50% | +8.39% |
Average DrawdownAverage peak-to-trough decline | -12.79% | -21.76% | +8.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 2.42% | +0.65% |
Volatility
KMLM vs. XEON.DE - Volatility Comparison
KFA Mount Lucas Index Strategy ETF (KMLM) has a higher volatility of 3.60% compared to Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) at 1.22%. This indicates that KMLM's price experiences larger fluctuations and is considered to be riskier than XEON.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMLM | XEON.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 1.22% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 4.48% | +5.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.52% | 6.26% | +5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 7.61% | +6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.67% | 7.25% | +7.42% |
KMLM vs. XEON.DE - Expense Ratio Comparison
KMLM has a 0.90% expense ratio, which is higher than XEON.DE's 0.10% expense ratio.
Dividends
KMLM vs. XEON.DE - Dividend Comparison
KMLM's dividend yield for the trailing twelve months is around 4.46%, while XEON.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 4.46% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% |
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KMLM and XEON.DE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.90% for KMLM.
KMLM is categorized as Systematic Trend, while XEON.DE is Money Market. KMLM tracks KFA MLM Index, while XEON.DE tracks Solactive €STR +8.5 Daily Index. They also come from different issuers: KraneShares and Xtrackers. Their fees differ too: 0.90% for KMLM and 0.10% for XEON.DE.
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