RTXG vs. KMLM

Last updated Aug 2, 2026

RTXG (Leverage Shares 2X Long RTX Daily ETF) and KMLM (KFA Mount Lucas Index Strategy ETF) are both exchange-traded funds - RTXG is a Leveraged Equities fund actively managed by Leverage Shares, while KMLM is a Systematic Trend fund tracking the KFA MLM Index. RTXG is actively managed, while KMLM is passively managed. Over the past year, RTXG returned 63.09% vs 18.19% for KMLM. Their -0.11 correlation means they have often moved in opposite directions in the past. RTXG charges 0.75%/yr vs 0.90%/yr for KMLM.

Performance

RTXG vs. KMLM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long RTX Daily ETF (RTXG) 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, RTXG achieves a 24.96% return, which is significantly higher than KMLM's 12.95% return.

RTXG

• 1D: 0.90%
• 1M: 15.56%
• 6M: 5.40%
• YTD: 24.96%
• 1Y: 63.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 83.56%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KMLM KFA Mount Lucas Index Strategy ETF	$14.29M	$9.53M	$7.83M
RTXG Leverage Shares 2X Long RTX Daily ETF	$945.29K	$642.88K	$633.54K

RTXG vs. KMLM - Yearly Performance Comparison

	2026 (YTD)	2025
RTXG Leverage Shares 2X Long RTX Daily ETF	24.96%	60.90%
KMLM KFA Mount Lucas Index Strategy ETF	12.95%	2.30%

Correlation

The correlation between RTXG and KMLM is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.10
Correlation (All Time) Calculated using the full available price history since Jun 6, 2025	-0.11

Return for Risk

RTXG vs. KMLM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RTXG

RTXG Risk / Return Rank: 47
RTXG Sharpe Ratio Rank: 48
RTXG Sortino Ratio Rank: 53
RTXG Omega Ratio Rank: 50
RTXG Calmar Ratio Rank: 45
RTXG Martin Ratio Rank: 37

KMLM

KMLM Risk / Return Rank: 61
KMLM Sharpe Ratio Rank: 69
KMLM Sortino Ratio Rank: 65
KMLM Omega Ratio Rank: 67
KMLM Calmar Ratio Rank: 52
KMLM Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RTXG vs. KMLM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long RTX Daily ETF (RTXG) 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.

	RTXG	KMLM	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.55	-0.37
Sortino ratio: Return per unit of downside risk	1.89	2.14	-0.25
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	1.64	1.86	-0.21
Martin ratio: Return relative to average drawdown	3.79	6.03	-2.24

RTXG vs. KMLM - Sharpe Ratio Comparison

The current RTXG Sharpe Ratio is 1.19, which is comparable to the KMLM Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of RTXG and KMLM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RTXG vs. KMLM - Drawdown Comparison

The maximum RTXG drawdown since its inception was -37.49%, which is greater than KMLM's maximum drawdown of -27.47%. Use the drawdown chart below to compare losses from any high point for RTXG and KMLM.

Drawdown Indicators

	RTXG	KMLM	Difference
Max Drawdown Largest peak-to-trough decline	-37.49%	-27.47%	-10.02%
Max Drawdown (1Y) Largest decline over 1 year	-37.49%	-9.61%	-27.88%
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	-4.48%	-11.93%	+7.45%
Average Drawdown Average peak-to-trough decline	-10.35%	-12.79%	+2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.21%	2.95%	+13.26%

Volatility

RTXG vs. KMLM - Volatility Comparison

Leverage Shares 2X Long RTX Daily ETF (RTXG) has a higher volatility of 18.65% compared to KFA Mount Lucas Index Strategy ETF (KMLM) at 3.70%. This indicates that RTXG's price experiences larger fluctuations and is considered to be riskier than KMLM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RTXG	KMLM	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.65%	3.70%	+14.95%
Volatility (6M) Calculated over the trailing 6-month period	40.50%	10.31%	+30.19%
Volatility (1Y) Calculated over the trailing 1-year period	51.89%	11.49%	+40.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.21%	14.53%	+36.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.21%	14.66%	+36.55%

RTXG vs. KMLM - Expense Ratio Comparison

RTXG has a 0.75% expense ratio, which is lower than KMLM's 0.90% expense ratio.

Dividends

RTXG vs. KMLM - Dividend Comparison

RTXG's dividend yield for the trailing twelve months is around 5.09%, more than KMLM's 4.45% yield.

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%
RTXG Leverage Shares 2X Long RTX Daily ETF	5.09%	6.36%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RTXG and KMLM in my portfolio?

RTXG and KMLM have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RTXG or KMLM?

RTXG has higher volatility (18.65%) compared to KMLM (3.70%). In terms of maximum drawdown, RTXG dropped -37.49% vs KMLM's -27.47%.

Which ETF is better, RTXG or KMLM?

On 1-year performance, RTXG leads with 63.09% vs 18.19% for KMLM. On fees, RTXG is cheaper at 0.75% per year. On volatility, KMLM has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RTXG or KMLM?

Over the 1-year period, RTXG has performed better with a 63.09% return vs 18.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RTXG or KMLM?

RTXG is cheaper with a 0.75% expense ratio, compared with 0.90% for KMLM.

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

RTXG has the higher dividend yield at 5.09%, compared with 4.45% for KMLM.

What is the main difference between RTXG and KMLM?

RTXG 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 RTXG and 0.90% for KMLM.

Which has better risk-adjusted returns?

KMLM currently has the higher Sharpe Ratio (1.55 vs 1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.