KMLI vs QQQ
KraneShares 2x Long MELI Daily ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | KMLI | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 1.26% | 0.18% | |
| AUM | $9M | $496.3B | |
| Dividend Yield | 14.47% | 0.44% | |
| Holdings | 2 | 108 | |
| YTD Return | -22.34% | +16.23% | |
| 1Y Return | -50.47% | +26.23% | |
| 3Y Return (annualized) | - | +25.75% | |
| 5Y Return (annualized) | - | +14.78% | |
| Volatility (annualized) | 50.5% | 30.6% | |
| Max Drawdown | -73.2% | -83.0% | |
| Fund Family | KraneShares | Invesco (US) | |
| Category | Alternative | Equity | |
| Inception | Jun 11, 2025 | Mar 10, 1999 |
KMLI vs QQQ Performance
KraneShares 2x Long MELI Daily ETF (KMLI) is a ETF from KraneShares and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year KMLI returned -50.47% while QQQ returned +26.23%. Year to date, KMLI is down 22.34% versus a gain of 16.23% for QQQ.
Risk: Volatility and Drawdowns
KMLI has been the more volatile fund, with annualized monthly volatility of 50.5% compared with 30.6% for QQQ. 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 -73.2% for KMLI and -83.0% for QQQ. 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 0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KMLI charges 1.26% per year while QQQ charges 0.18%. On a $10,000 position that is $126 vs $18 annually, a gap of $108 per year that compounds over a long holding period. On income, KMLI currently yields 14.47% against 0.44% for QQQ.
Holdings Overlap
KMLI and QQQ share 1 holdings out of 102 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in KMLI | Weight in QQQ | Difference |
|---|---|---|---|
| MELI | 199.99% | 0.43% | 199.56% |
Frequently Asked Questions
Which is cheaper, KMLI or QQQ?
KMLI has an expense ratio of 1.26% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $108 per year of difference.
Which performed better, KMLI or QQQ?
Over the past year KMLI returned -50.47% vs +26.23% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), KMLI annualized -47.70% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, KMLI or QQQ?
KMLI has been the more volatile fund at 50.5% annualized versus 30.6% for QQQ. Worst drawdown: KMLI -73.2% vs QQQ -83.0%.
Should I hold both KMLI and QQQ?
KMLI and QQQ have a monthly-return correlation of 0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KMLI and QQQ?
KMLI and QQQ share 1 common holdings with a 0.4% weight overlap. Combined, they hold 102 unique securities.
Which pays a higher dividend, KMLI or QQQ?
KMLI yields 14.47% while QQQ yields 0.44%, so KMLI currently pays the higher dividend yield.
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