# KMLM (KraneShares Mount Lucas Managed Futures Index Strategy ETF)

KraneShares · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, KMLM rose 0.75% a week on average.

## Key facts

- KMLM, correlation with the S&P 500: −0.24, as of Sep 18, 2026.
- KMLM, beta to the S&P 500: −0.22, as of Sep 18, 2026.
- KMLM, down-week capture: −60.3%, as of Sep 18, 2026.
- KMLM, against T-bills, 52 weeks: +16.1 pts, as of Sep 18, 2026.
- KMLM, net assets: $536m (issuer page, as of Sep 18, 2026).
- KMLM, expense ratio: 0.90% (485BPOS XBRL, Jul 29, 2026).

## KMLM over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +10.8% | +2.3% | +8.5 pts |
| 6 months | +10.2% | +18.0% | −7.8 pts |
| 1 year | +19.6% | +16.6% | +3.1 pts |
| 3 years | +0.6% | +78.4% | −77.8 pts |
| Since it listed | +57.1% | +125.2% | −68.1 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | KraneShares | ETFIQ |
| Strategy | Managed futures | ETFIQ, from its prospectus |
| Expense ratio | 0.90% | 485BPOS XBRL, Jul 29, 2026 |
| Net assets | $536m | issuer page, as of Sep 18, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| KMLM in those weeks, on average | +0.75% | ETFIQ |
| KMLM total return over those weeks | +19.7% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Dec 2, 2020 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does KMLM move with the S&P 500?

Over the year to Sep 18, 2026, KMLM’s weekly returns had a correlation of −0.24 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was −0.22, so for each 1% the index moved it moved about 0.22% the other way.

### What did KMLM do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks KMLM rose 0.75% on average, a down-week capture of −60.3%.

### Did KMLM earn more than cash?

Over the same 52 weeks KMLM returned +19.7% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. KMLM finished 16.1 percentage points ahead of it.

### What does KMLM cost?

The prospectus expense ratio is 0.90% a year.

### Why is KMLM listed as managed futures?

ETFIQ files each fund by what its own prospectus says it does, and KMLM’s, filed Jul 29, 2026, describes a managed futures fund.


## Cite this page

ETFIQ, KMLM, data as of Sep 18, 2026. https://etfiq.com/funds/kmlm
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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