KMLM vs SDS

Comparison between KRANESHARES MOUNT LUCAS MANAGED FUTURES INDEX STRATEGY ETF (KMLM, ETF) and ProShares UltraShort S&P500 -2x Shares (SDS, ETF).

5-Year PerformanceKMLM has outperformed SDS, delivering a return of +5.5% compared to -20.4%

KMLM vs SDS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	KMLM(ETF)	SDS(ETF)
Net Assets	$420M	$418M
Expense Ratio	0.90%	N/A
Max Drawdown	36.50%	99.90%
Sharpe Ratio	0.92	-1.28
5Y Beta	-0.02	-1.92
5Y Dividends CAGR	N/A	22.27%

Net Assets

Winner

KMLM

$420M

SDS

$418M

Expense Ratio

KMLM

0.90%

SDS

N/A

Max Drawdown

Winner

KMLM

36.50%

SDS

99.90%

Sharpe Ratio

Winner

KMLM

0.92

SDS

-1.28

5Y Beta

KMLM

-0.02

Winner

SDS

-1.92

5Y Dividends CAGR

KMLM

N/A

SDS

22.27%

KMLM vs SDS - Historical Returns

Returns include dividend reinvestment.

Period	KMLM	SDS
1 month	+0.20%	-7.66%
3 months	+2.80%	-4.44%
6 months	+8.65%	-19.83%
1 year	+15.07%	-27.07%
5 years(CAGR)	+5.54%	-20.36%
10 years(CAGR)	N/A	-27.36%
Max(CAGR)	+7.31%	-25.15%

Winner

KMLM

+0.20%

SDS

-7.66%

Winner

KMLM

+2.80%

SDS

-4.44%

Winner

KMLM

+8.65%

SDS

-19.83%

Winner

KMLM

+15.07%

SDS

-27.07%

5Y(CAGR)

Winner

KMLM

+5.54%

SDS

-20.36%

10Y(CAGR)

KMLM

N/A

SDS

-27.36%

Max(CAGR)

Winner

KMLM

+7.31%

SDS

-25.15%

KMLM vs SDS - Annual Returns (2006 - 2026)

Returns include dividend reinvestment.

Year	KMLM	SDS
2026	+12.64%	-19.84%
2025	-3.67%	-27.18%
2024	-1.15%	-30.24%
2023	-6.25%	-32.17%
2022	+29.44%	+32.17%
2021	+7.37%	-44.54%
2020	+5.40%	-48.99%
2019	N/A	-41.12%
2018	N/A	+7.54%
2017	N/A	-30.97%
2016	N/A	-26.29%
2015	N/A	-9.61%
2014	N/A	-27.06%
2013	N/A	-42.30%
2012	N/A	-27.66%
2011	N/A	-17.21%
2010	N/A	-29.93%
2009	N/A	-47.35%
2008	N/A	+57.43%
2007	N/A	-4.12%
2006	N/A	-19.87%

KMLM vs SDS 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 SDS was -99.86%, occurring on Aug 13, 2026. This drawdown has not yet recovered.

The current KMLM drawdown is -11.87%. The current SDS drawdown is -99.85%.

Rank	KMLM	SDS
#1	-27.61% Oct 14, 2022 - Jun 20, 2025	-99.86% Mar 9, 2009 - Aug 13, 2026
#2	-14.93% Jun 13, 2022 - Sep 26, 2022	-41.04% Nov 20, 2008 - Mar 5, 2009
#3	-9.11% May 12, 2021 - Feb 4, 2022	-33.06% Jul 17, 2006 - Jul 11, 2008
#4	-6.19% Mar 8, 2022 - Mar 24, 2022	-31.02% Oct 27, 2008 - Nov 20, 2008
#5	-6.02% Sep 27, 2022 - Oct 10, 2022	-22.44% Oct 10, 2008 - Oct 27, 2008
#6	-5.93% Feb 24, 2021 - Apr 26, 2021	-14.92% Jul 15, 2008 - Sep 17, 2008
#7	-4.58% Apr 18, 2022 - May 4, 2022	-13.57% Sep 17, 2008 - Sep 29, 2008
#8	-3.99% Mar 25, 2022 - Apr 8, 2022	-8.50% Sep 29, 2008 - Oct 3, 2008
#9	-3.60% May 6, 2022 - May 17, 2022	-0.43% Mar 5, 2009 - Mar 9, 2009
#10	-3.57% May 17, 2022 - Jun 6, 2022	N/A
#11	-3.46% Jan 5, 2021 - Jan 14, 2021	N/A
#12	-2.85% Feb 24, 2022 - Mar 2, 2022	N/A
#13	-2.05% Jan 14, 2021 - Feb 8, 2021	N/A
#14	-1.72% Feb 14, 2022 - Feb 23, 2022	N/A
#15	-1.50% Dec 23, 2020 - Dec 29, 2020	N/A

Correlation

Correlation between KMLM and SDS is -0.22 which considered as a very weak or no correlation - the stocks move independently of each other.

-0.22

-101

Dividend Comparison (2006 - 2026)

KMLM vs SDS dividend yield comparison.

Year	KMLM	SDS
2026	0.00%	1.91%
2025	5.02%	5.88%
2024	0.82%	7.89%
2023	0.00%	5.77%
2022	13.22%	0.35%
2021	6.94%	0.00%
2020	0.00%	0.92%
2019	0.00%	1.84%
2018	0.00%	1.28%
2017	0.00%	0.09%
2008	0.00%	22.43%
2007	0.00%	3.30%
2006	0.00%	1.24%