IVV vs KMLM
iShares Core S&P 500 ETF vs KraneShares Mount Lucas Managed Futures Index Strategy ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | KMLM | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.90% | |
| AUM | $907.0B | $389M | |
| Dividend Yield | 1.10% | 4.47% | |
| Holdings | 508 | 32 | |
| YTD Return | +13.22% | +11.15% | |
| 1Y Return | +21.62% | +13.64% | |
| 3Y Return (annualized) | +22.17% | -0.75% | |
| 5Y Return (annualized) | +13.42% | +5.77% | |
| Volatility (annualized) | 15.1% | 12.9% | |
| Max Drawdown | -56.5% | -27.5% | |
| Fund Family | iShares by BlackRock (US) | KraneShares | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Dec 1, 2020 |
IVV vs KMLM Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and KraneShares Mount Lucas Managed Futures Index Strategy ETF (KMLM) is a ETF from KraneShares. Over the past year IVV returned +21.62% while KMLM returned +13.64%. Year to date, IVV is up 13.22% versus a gain of 11.15% for KMLM.
Over three years, IVV compounded at +22.17% per year against -0.75% for KMLM; over five years the annualized figures are +13.42% and +5.77% respectively. Across the full 6-year window we track, KMLM has the edge at +7.13% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 12.9% for KMLM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -27.5% for KMLM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at -0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while KMLM charges 0.90%. On a $10,000 position that is $3 vs $90 annually, a gap of $87 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 4.47% for KMLM.
Holdings Overlap
IVV and KMLM share 15 holdings out of 505 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or KMLM?
IVV has an expense ratio of 0.03% while KMLM charges 0.90%. IVV is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, IVV or KMLM?
Over the past year IVV returned +21.62% vs +13.64% for KMLM, so IVV leads on 1-year performance. Over the longest common window we track (6 years), IVV annualized +7.02% vs +7.13% for KMLM. Past performance does not guarantee future results.
Which is riskier, IVV or KMLM?
IVV has been the more volatile fund at 15.1% annualized versus 12.9% for KMLM. Worst drawdown: IVV -56.5% vs KMLM -27.5%.
Should I hold both IVV and KMLM?
IVV and KMLM have a monthly-return correlation of -0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and KMLM?
IVV and KMLM share 15 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, IVV or KMLM?
IVV yields 1.10% while KMLM yields 4.47%, so KMLM currently pays the higher dividend yield.
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