KMLM vs VOO
KraneShares Mount Lucas Managed Futures Index Strategy ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | KMLM | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.03% | |
| AUM | $389M | $997.4B | |
| Dividend Yield | 4.47% | 1.08% | |
| Holdings | 32 | 509 | |
| YTD Return | +11.15% | +13.20% | |
| 1Y Return | +13.64% | +21.62% | |
| 3Y Return (annualized) | -0.75% | +22.16% | |
| 5Y Return (annualized) | +5.77% | +13.42% | |
| Volatility (annualized) | 12.9% | 14.1% | |
| Max Drawdown | -27.5% | -34.3% | |
| Fund Family | KraneShares | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Dec 1, 2020 | Sep 7, 2010 |
KMLM vs VOO Performance
KraneShares Mount Lucas Managed Futures Index Strategy ETF (KMLM) is a ETF from KraneShares and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year KMLM returned +13.64% while VOO returned +21.62%. Year to date, KMLM is up 11.15% versus a gain of 13.20% for VOO.
Over three years, KMLM compounded at -0.75% per year against +22.16% for VOO; over five years the annualized figures are +5.77% and +13.42% respectively. Across the full 6-year window we track, VOO has the edge at +13.51% annualized vs +7.13%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.1% 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 -27.5% for KMLM and -34.3% for VOO. 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
KMLM charges 0.90% per year while VOO charges 0.03%. On a $10,000 position that is $90 vs $3 annually, a gap of $87 per year that compounds over a long holding period. On income, KMLM currently yields 4.47% against 1.08% for VOO.
Holdings Overlap
KMLM and VOO 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, KMLM or VOO?
KMLM has an expense ratio of 0.90% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $87 per year of difference.
Which performed better, KMLM or VOO?
Over the past year KMLM returned +13.64% vs +21.62% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (6 years), KMLM annualized +7.13% vs +13.51% for VOO. Past performance does not guarantee future results.
Which is riskier, KMLM or VOO?
VOO has been the more volatile fund at 14.1% annualized versus 12.9% for KMLM. Worst drawdown: KMLM -27.5% vs VOO -34.3%.
Should I hold both KMLM and VOO?
KMLM and VOO 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 KMLM and VOO?
KMLM and VOO share 15 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, KMLM or VOO?
KMLM yields 4.47% while VOO yields 1.08%, so KMLM currently pays the higher dividend yield.
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