# KMLI (KraneShares 2x Long MELI Daily ETF)

KraneShares · Leveraged ETFs · data as of Sep 11, 2026

Three months to Sep 11, 2026: KMLI returned +33.4% where its own daily promise gave +38.0%, 4.7 points short.

## Key facts

- KMLI, what MELI did: +19.4%, as of Sep 11, 2026.
- KMLI, what +2 times a day gives: +38.0%, as of Sep 11, 2026.
- KMLI, what the fund returned: +33.4%, as of Sep 11, 2026.
- KMLI, the fund itself cost: −4.7 pts, as of Sep 11, 2026.
- KMLI, net assets: $9m (source, as filed for Jun 30, 2026).
- KMLI, expense ratio: 1.26% (485BPOS XBRL, Jul 29, 2026).

## KMLI over each window to Sep 11, 2026

| Window | Fund | MELI | +2x the move | Difference | MELI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | +5.1% | +3.8% | +7.6% | −2.4 pts | 36% |
| 3 months | +33.4% | +19.4% | +38.7% | −5.4 pts | 36% |
| 6 months | +12.3% | +13.6% | +27.2% | −14.9 pts | 39% |
| 1 year | −51.8% | −18.9% | −37.7% | −14.1 pts | 41% |
| Since launch | −55.5% | −19.9% | −39.8% | −15.7 pts | 39% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of MELI, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.72 times, against +2 stated | ETFIQ |
| Underlying | MELI | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $9m | source, as filed for Jun 30, 2026 |
| Expense ratio | 1.26% | 485BPOS XBRL, Jul 29, 2026 |
| Launched | Jun 12, 2025 | ETFIQ |
| Underlying volatility over the window | 36% annualized | ETFIQ |

## Questions

### Did KMLI return +2 times MELI?

Over the window to Sep 11, 2026, MELI moved +19.4% and KMLI returned +33.4%. 2 times that move is +38.7%, so the fund came out 5.4 points short of it.

### Why does KMLI not return +2 times over a year?

Because it resets daily. KMLI aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.


## Cite this page

ETFIQ, KMLI, data as of Sep 11, 2026. https://etfiq.com/funds/KMLI
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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