LULG vs. KMLM
LULG (Leverage Shares 2X Long LULU Daily ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - LULG is a Leveraged Equities fund actively managed by Leverage Shares, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. LULG is actively managed, while KMLM is passively managed. Their -0.23 correlation means they have often moved in opposite directions in the past. LULG charges 0.75%/yr vs 0.90%/yr for KMLM.
Performance
LULG vs. KMLM - Performance Comparison
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Returns By Period
In the year-to-date period, LULG achieves a -73.29% return, which is significantly lower than KMLM's 12.95% return.
LULG
- 1D
- -1.27%
- 1M
- -1.27%
- 6M
- -60.43%
- YTD
- -73.29%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
KMLM
- 1D
- 0.24%
- 1M
- 6.85%
- 6M
- 12.90%
- YTD
- 12.95%
- 1Y
- 18.19%
- 3Y*
- 0.08%
- 5Y*
- 5.77%
- 10Y*
- —
- ALL TIME*
- 7.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.29M | $9.53M | $7.83M | |
| $563.24K | $638.04K | $1.16M |
LULG vs. KMLM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
LULG Leverage Shares 2X Long LULU Daily ETF | -73.29% | 55.59% |
KMLM KFA Mount Lucas Index Strategy ETF | 12.95% | 3.52% |
Correlation
The correlation between LULG and KMLM is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | -0.23 |
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Return for Risk
LULG vs. KMLM — Risk / Return Rank
LULG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
KMLM
LULG vs. KMLM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long LULU Daily ETF (LULG) 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.
| LULG | KMLM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.28 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.86 | — |
| Martin ratioReturn relative to average drawdown | — | 6.03 | — |
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Drawdowns
LULG vs. KMLM - Drawdown Comparison
The maximum LULG drawdown since its inception was -79.88%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for LULG and KMLM.
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Drawdown Indicators
| LULG | KMLM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.88% | -27.47% | -52.41% |
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 DrawdownCurrent decline from peak | -75.26% | -11.93% | -63.33% |
Average DrawdownAverage peak-to-trough decline | -42.46% | -12.79% | -29.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.95% | — |
Volatility
LULG vs. KMLM - Volatility Comparison
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Volatility by Period
| LULG | KMLM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.70% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 85.71% | 11.49% | +74.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 85.71% | 14.53% | +71.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 85.71% | 14.66% | +71.05% |
LULG vs. KMLM - Expense Ratio Comparison
LULG has a 0.75% expense ratio, which is lower than KMLM's 0.90% expense ratio.
Dividends
LULG vs. KMLM - Dividend Comparison
LULG has not paid dividends to shareholders, while KMLM's dividend yield for the trailing twelve months is around 4.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
KMLM KFA Mount Lucas Index Strategy ETF | 4.45% | 5.02% | 0.82% | 0.00% | 13.22% | 6.94% |
LULG Leverage Shares 2X Long LULU Daily ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LULG and KMLM have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LULG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LULG is cheaper with a 0.75% expense ratio, compared with 0.90% for KMLM.
KMLM has the higher dividend yield at 4.45%, compared with 0.00% for LULG.
LULG is categorized as Leveraged Equities, while KMLM is Systematic Trend. They also come from different issuers: Leverage Shares and KraneShares. Their fees differ too: 0.75% for LULG and 0.90% for KMLM.
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