# KMLI (KraneShares 2x Long MELI Daily ETF)

KraneShares · Leveraged ETFs · data as of Oct 2, 2026

Three months to Oct 2, 2026: KMLI returned −13.3% where its own daily promise gave −10.0%, 3.3 points short.

## Key facts

- KMLI, what MELI did: −3.8%, as of Oct 2, 2026.
- KMLI, what 2 times a day gives: −10.0%, as of Oct 2, 2026.
- KMLI, what the fund returned: −13.3%, as of Oct 2, 2026.
- KMLI, the fund itself cost: −3.3 pts, as of Oct 2, 2026.
- KMLI, net assets: $6m (issuer page, as of Oct 2, 2026).
- KMLI, expense ratio: 1.26% (485BPOS XBRL, Jul 29, 2026).

## KMLI over each window to Oct 2, 2026

| Window | Fund | MELI | +2x the move | Difference | MELI moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −29.9% | −15.4% | −30.9% | +1.1 pts | 24% |
| 3 months | −13.3% | −3.8% | −7.6% | −5.7 pts | 34% |
| 6 months | −15.1% | −1.1% | −2.2% | −12.8 pts | 38% |
| 1 year | −58.1% | −24.5% | −49.0% | −9.1 pts | 40% |
| Since launch | −64.9% | −28.4% | −56.8% | −8.2 pts | 38% |

## 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 | MELI moved −3.8% over this window, too little to read a multiple from | ETFIQ |
| Underlying | MELI | ETFIQ |
| Segment | single stock, company | ETFIQ |
| Net assets | $6m | issuer page, as of Oct 2, 2026 |
| Expense ratio | 1.26% | 485BPOS XBRL, Jul 29, 2026 |
| Launched | Jun 12, 2025 | ETFIQ |
| Underlying volatility over the window | 34% annualized | ETFIQ |

## Questions

### Did KMLI return +2 times MELI?

Over the window to Oct 2, 2026, MELI moved −3.8% and KMLI returned −13.3%. 2 times that move is −7.6%, so the fund came out 5.7 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 Oct 2, 2026. https://etfiq.com/funds/kmli
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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