{
 "ticker": "KMLI",
 "name": "KraneShares 2x Long MELI Daily ETF",
 "issuer": "KraneShares",
 "desk": "leverage",
 "url": "https://etfiq.com/funds/kmli",
 "html": "https://etfiq.com/funds/kmli",
 "markdown": "https://etfiq.com/funds/kmli.md",
 "as_of": "2026-10-02",
 "verdict": "Three months to Oct 2, 2026: KMLI returned \u221213.3% where its own daily promise gave \u221210.0%, 3.3 points short.",
 "key_facts": [
  {
   "key": "what_meli_did",
   "label": "What MELI did",
   "value": "\u22123.8%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KMLI, what MELI did: \u22123.8%, as of Oct 2, 2026."
  },
  {
   "key": "what_2_times_a_day_gives",
   "label": "What 2 times a day gives",
   "value": "\u221210.0%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KMLI, what 2 times a day gives: \u221210.0%, as of Oct 2, 2026."
  },
  {
   "key": "what_the_fund_returned",
   "label": "What the fund returned",
   "value": "\u221213.3%",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KMLI, what the fund returned: \u221213.3%, as of Oct 2, 2026."
  },
  {
   "key": "the_fund_itself_cost",
   "label": "The fund itself cost",
   "value": "\u22123.3 pts",
   "source": null,
   "as_of": "2026-10-02",
   "sentence": "KMLI, the fund itself cost: \u22123.3 pts, as of Oct 2, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "issuer page, as of Oct 2, 2026",
   "as_of": "2026-10-02",
   "sentence": "KMLI, net assets: $6m (issuer page, as of Oct 2, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.26%",
   "source": "485BPOS XBRL, Jul 29, 2026",
   "as_of": "2026-10-02",
   "sentence": "KMLI, expense ratio: 1.26% (485BPOS XBRL, Jul 29, 2026)."
  }
 ],
 "fields": [
  {
   "key": "sets_out_to_return",
   "label": "Sets out to return",
   "value": "+2 times the daily move of MELI, reset daily",
   "source": null
  },
  {
   "key": "multiple_a_holder_actually_got_over_the_window",
   "label": "Multiple a holder actually got over the window",
   "value": "MELI moved \u22123.8% over this window, too little to read a multiple from",
   "source": "ETFIQ"
  },
  {
   "key": "underlying",
   "label": "Underlying",
   "value": "MELI",
   "source": null
  },
  {
   "key": "segment",
   "label": "Segment",
   "value": "single stock, company",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$6m",
   "source": "issuer page, as of Oct 2, 2026"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "1.26%",
   "source": "485BPOS XBRL, Jul 29, 2026"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jun 12, 2025",
   "source": null
  },
  {
   "key": "underlying_volatility_over_the_window",
   "label": "Underlying volatility over the window",
   "value": "34% annualized",
   "source": "ETFIQ"
  }
 ],
 "periods": [
  {
   "window": "1 month",
   "Fund": "\u221229.9%",
   "MELI": "\u221215.4%",
   "+2x the move": "\u221230.9%",
   "Difference": "+1.1 pts",
   "MELI moved about": "24%"
  },
  {
   "window": "3 months",
   "Fund": "\u221213.3%",
   "MELI": "\u22123.8%",
   "+2x the move": "\u22127.6%",
   "Difference": "\u22125.7 pts",
   "MELI moved about": "34%"
  },
  {
   "window": "6 months",
   "Fund": "\u221215.1%",
   "MELI": "\u22121.1%",
   "+2x the move": "\u22122.2%",
   "Difference": "\u221212.8 pts",
   "MELI moved about": "38%"
  },
  {
   "window": "1 year",
   "Fund": "\u221258.1%",
   "MELI": "\u221224.5%",
   "+2x the move": "\u221249.0%",
   "Difference": "\u22129.1 pts",
   "MELI moved about": "40%"
  },
  {
   "window": "Since launch",
   "Fund": "\u221264.9%",
   "MELI": "\u221228.4%",
   "+2x the move": "\u221256.8%",
   "Difference": "\u22128.2 pts",
   "MELI moved about": "38%"
  }
 ],
 "questions": [
  {
   "q": "Did KMLI return +2 times MELI?",
   "a": "Over the window to Oct 2, 2026, MELI moved \u22123.8% and KMLI returned \u221213.3%. 2 times that move is \u22127.6%, so the fund came out 5.7 points short of it."
  },
  {
   "q": "Why does KMLI not return +2 times over a year?",
   "a": "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."
  }
 ],
 "generated": "2026-10-03",
 "license": "https://etfiq.com/license/",
 "license_text": "Free to use with attribution. ETFIQ (etfiq.com)."
}