RDYY vs. KMLM

Last updated Jun 4, 2026

RDYY (YieldMax RDDT Option Income Strategy ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - RDYY is a Derivative Income fund actively managed by YieldMax, while KMLM is a Long-Short fund actively managed by CICC. Both are actively managed. At a correlation of -0.03, they often move in opposite directions. RDYY charges 0.99%/yr vs 0.90%/yr for KMLM.

Performance

RDYY vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax RDDT Option Income Strategy ETF (RDYY) and KFA Mount Lucas Index Strategy ETF (KMLM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RDYY achieves a -22.78% return, which is significantly lower than KMLM's 10.79% return.

RDYY

• 1D: 0.78%
• 1M: 2.65%
• YTD: -22.78%
• 6M: -20.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMLM

• 1D: 0.17%
• 1M: -2.41%
• YTD: 10.79%
• 6M: 13.19%
• 1Y: 13.68%
• 3Y*: -0.47%
• 5Y*: 4.33%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

RDYY vs. KMLM - Yearly Performance Comparison

	2026 (YTD)	2025
RDYY YieldMax RDDT Option Income Strategy ETF	-22.78%	-6.52%
KMLM KFA Mount Lucas Index Strategy ETF	10.79%	1.42%

Correlation

The correlation between RDYY and KMLM 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 (All Time) Calculated using the full available price history since Sep 10, 2025	-0.03

Return for Risk

RDYY vs. KMLM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KMLM

KMLM Risk / Return Rank: 36
KMLM Sharpe Ratio Rank: 33
KMLM Sortino Ratio Rank: 31
KMLM Omega Ratio Rank: 32
KMLM Calmar Ratio Rank: 43
KMLM Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

RDYY vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax RDDT Option Income Strategy ETF (RDYY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	RDYY	KMLM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.20	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	0.49	-1.16

Drawdowns

RDYY vs. KMLM - Drawdown Comparison

The maximum RDYY drawdown since its inception was -51.16%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for RDYY and KMLM.

Drawdown Indicators

	RDYY	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	-51.16%	-27.47%	-23.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.47%	—
Current Drawdown Current decline from peak	-34.14%	-13.61%	-20.53%
Average Drawdown Average peak-to-trough decline	-28.62%	-12.74%	-15.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.91%	—

Volatility

Volatility by Period

	RDYY	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.63%	—
Volatility (1Y) Calculated over the trailing 1-year period	54.12%	11.43%	+42.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.12%	14.62%	+39.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.12%	14.73%	+39.39%

RDYY vs. KMLM - Expense Ratio Comparison

RDYY has a 0.99% expense ratio, which is higher than KMLM's 0.90% expense ratio.

Dividends

RDYY vs. KMLM - Dividend Comparison

RDYY's dividend yield for the trailing twelve months is around 83.18%, more than KMLM's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021
KMLM KFA Mount Lucas Index Strategy ETF	4.53%	5.02%	0.82%	0.00%	13.22%	6.94%
RDYY YieldMax RDDT Option Income Strategy ETF	83.18%	25.20%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RDYY and KMLM in my portfolio?

RDYY and KMLM 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.

Which ETF is better, RDYY or KMLM?

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.

Which ETF is cheaper, RDYY or KMLM?

KMLM is cheaper with a 0.90% expense ratio, compared with 0.99% for RDYY.

Which ETF pays a higher dividend yield, RDYY or KMLM?

RDYY has the higher dividend yield at 83.18%, compared with 4.53% for KMLM.

What is the main difference between RDYY and KMLM?

RDYY is categorized as Derivative Income, while KMLM is Long-Short. They also come from different issuers: YieldMax and CICC. Their fees differ too: 0.99% for RDYY and 0.90% for KMLM.