KMLM vs LEO

Comparison between KRANESHARES MOUNT LUCAS MANAGED FUTURES INDEX STRATEGY ETF (KMLM, ETF) and BNY Mellon Strategic Municipals Inc (LEO, ETF).

5-Year PerformanceKMLM has outperformed LEO, delivering a return of +5.5% compared to -4.1%

KMLM vs LEO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	KMLM(ETF)	LEO(ETF)
Net Assets	$420M	$420M
Expense Ratio	0.90%	N/A
Max Drawdown	36.50%	54.53%
Sharpe Ratio	0.92	0.57
5Y Beta	-0.02	0.18
5Y Dividends CAGR	N/A	-6.11%

Net Assets

KMLM

$420M

LEO

$420M

Expense Ratio

KMLM

0.90%

LEO

N/A

Max Drawdown

Winner

KMLM

36.50%

LEO

54.53%

Sharpe Ratio

Winner

KMLM

0.92

LEO

0.57

5Y Beta

Winner

KMLM

-0.02

LEO

0.18

5Y Dividends CAGR

KMLM

N/A

LEO

-6.11%

KMLM vs LEO - Historical Returns

Returns include dividend reinvestment.

Period	KMLM	LEO
1 month	+0.20%	-0.65%
3 months	+2.80%	-2.22%
6 months	+8.65%	-2.68%
1 year	+15.07%	+10.17%
5 years(CAGR)	+5.54%	-4.07%
10 years(CAGR)	N/A	+0.87%
Max(CAGR)	+7.31%	+4.69%

Winner

KMLM

+0.20%

LEO

-0.65%

Winner

KMLM

+2.80%

LEO

-2.22%

Winner

KMLM

+8.65%

LEO

-2.68%

Winner

KMLM

+15.07%

LEO

+10.17%

5Y(CAGR)

Winner

KMLM

+5.54%

LEO

-4.07%

10Y(CAGR)

KMLM

N/A

LEO

+0.87%

Max(CAGR)

Winner

KMLM

+7.31%

LEO

+4.69%

KMLM vs LEO - Annual Returns (2001 - 2026)

Returns include dividend reinvestment.

Year	KMLM	LEO
2026	+12.64%	+0.05%
2025	-3.67%	+8.40%
2024	-1.15%	+6.40%
2023	-6.25%	-1.05%
2022	+29.44%	-23.74%
2021	+7.37%	+5.05%
2020	+5.40%	+4.86%
2019	N/A	+22.72%
2018	N/A	-12.42%
2017	N/A	+8.83%
2016	N/A	+3.50%
2015	N/A	+11.03%
2014	N/A	+15.50%
2013	N/A	-16.60%
2012	N/A	+14.70%
2011	N/A	+23.10%
2010	N/A	+3.15%
2009	N/A	+46.92%
2008	N/A	-27.48%
2007	N/A	-7.07%
2006	N/A	+13.96%
2005	N/A	+7.55%
2004	N/A	-7.35%
2003	N/A	+10.84%
2002	N/A	+6.78%
2001	N/A	+22.11%

KMLM vs LEO Drawdown Comparison

The maximum drawdown for KMLM was -27.61%, occurring on Jun 20, 2025. This drawdown has not yet recovered.

The maximum drawdown for LEO was -47.31%, occurring on Oct 10, 2008. Recovery took 671 trading sessions.

The current KMLM drawdown is -11.87%. The current LEO drawdown is -18.76%.

Rank	KMLM	LEO
#1	-27.61% Oct 14, 2022 - Jun 20, 2025	-47.31% May 7, 2007 - Jan 5, 2010
#2	-14.93% Jun 13, 2022 - Sep 26, 2022	-41.48% Aug 27, 2021 - Oct 25, 2023
#3	-9.11% May 12, 2021 - Feb 4, 2022	-30.28% Feb 25, 2020 - Feb 5, 2021
#4	-6.19% Mar 8, 2022 - Mar 24, 2022	-23.62% Jan 8, 2013 - Nov 3, 2015
#5	-6.02% Sep 27, 2022 - Oct 10, 2022	-21.68% Jan 21, 2004 - Sep 7, 2005
#6	-5.93% Feb 24, 2021 - Apr 26, 2021	-19.81% Sep 10, 2010 - Oct 12, 2011
#7	-4.58% Apr 18, 2022 - May 4, 2022	-17.32% Aug 1, 2017 - Jul 2, 2019
#8	-3.99% Mar 25, 2022 - Apr 8, 2022	-12.16% Jul 8, 2016 - Jul 11, 2017
#9	-3.60% May 6, 2022 - May 17, 2022	-11.77% Oct 1, 2002 - Apr 29, 2003
#10	-3.57% May 17, 2022 - Jun 6, 2022	-11.61% Jun 12, 2003 - Jan 7, 2004
#11	-3.46% Jan 5, 2021 - Jan 14, 2021	-9.85% Aug 28, 2001 - Dec 31, 2001
#12	-2.85% Feb 24, 2022 - Mar 2, 2022	-8.30% Sep 7, 2005 - Mar 29, 2006
#13	-2.05% Jan 14, 2021 - Feb 8, 2021	-6.69% Mar 12, 2012 - May 9, 2012
#14	-1.72% Feb 14, 2022 - Feb 23, 2022	-6.02% Nov 29, 2012 - Jan 8, 2013
#15	-1.50% Dec 23, 2020 - Dec 29, 2020	-5.98% Dec 31, 2001 - Apr 5, 2002

Correlation

Correlation between KMLM and LEO is -0.78 which considered as a strong negative correlation - the stocks tend to move in opposite directions.

-0.78

-101

Dividend Comparison (2001 - 2026)

KMLM vs LEO dividend yield comparison.

Year	KMLM	LEO
2026	0.00%	3.52%
2025	5.02%	4.03%
2024	0.82%	3.77%
2023	0.00%	4.37%
2022	13.22%	5.66%
2021	6.94%	4.84%
2020	0.00%	4.95%
2019	0.00%	4.94%
2018	0.00%	5.96%
2017	0.00%	5.97%
2016	0.00%	6.14%
2015	0.00%	6.04%
2014	0.00%	7.11%
2013	0.00%	7.74%
2012	0.00%	6.16%
2011	0.00%	6.61%
2010	0.00%	7.54%
2009	0.00%	6.32%
2008	0.00%	8.94%
2007	0.00%	6.13%
2006	0.00%	5.03%
2005	0.00%	6.51%
2004	0.00%	7.38%
2003	0.00%	7.32%
2002	0.00%	7.14%
2001	0.00%	5.74%