KMLM vs SMB

Comparison between KRANESHARES MOUNT LUCAS MANAGED FUTURES INDEX STRATEGY ETF (KMLM, ETF) and VANECK SHORT MUNI ETF (SMB, ETF).

5-Year PerformanceKMLM has outperformed SMB, delivering a return of +4.0% compared to +1.2%

KMLM vs SMB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	KMLM(ETF)	SMB(ETF)
Net Assets	$307M	$305M
Expense Ratio	0.90%	0.07%
Max Drawdown	36.50%	12.64%
Sharpe Ratio	0.76	0.11
5Y Beta	0.03	0.00
5Y Dividends CAGR	N/A	13.74%

Net Assets

Winner

KMLM

$307M

SMB

$305M

Expense Ratio

KMLM

0.90%

Winner

SMB

0.07%

Max Drawdown

KMLM

36.50%

Winner

SMB

12.64%

Sharpe Ratio

Winner

KMLM

0.76

SMB

0.11

5Y Beta

KMLM

0.03

Winner

SMB

0.00

5Y Dividends CAGR

KMLM

N/A

SMB

13.74%

KMLM vs SMB - Historical Returns

Returns include dividend reinvestment.

Period	KMLM	SMB
1 month	-3.83%	+0.58%
3 months	+4.03%	+0.32%
6 months	+12.47%	+1.37%
1 year	+11.83%	+3.78%
5 years(CAGR)	+4.01%	+1.19%
10 years(CAGR)	N/A	+1.55%
Max(CAGR)	+6.94%	+2.04%

KMLM

-3.83%

Winner

SMB

+0.58%

Winner

KMLM

+4.03%

SMB

+0.32%

Winner

KMLM

+12.47%

SMB

+1.37%

Winner

KMLM

+11.83%

SMB

+3.78%

5Y(CAGR)

Winner

KMLM

+4.01%

SMB

+1.19%

10Y(CAGR)

KMLM

N/A

SMB

+1.55%

Max(CAGR)

Winner

KMLM

+6.94%

SMB

+2.04%

KMLM vs SMB - Annual Returns (2008 - 2026)

Returns include dividend reinvestment.

Year	KMLM	SMB
2026	+8.74%	+0.55%
2025	-3.67%	+4.55%
2024	-1.15%	+2.47%
2023	-6.25%	+3.14%
2022	+29.44%	-4.35%
2021	+7.37%	+0.06%
2020	+5.40%	+3.36%
2019	N/A	+4.48%
2018	N/A	+1.75%
2017	N/A	+0.69%
2016	N/A	-0.39%
2015	N/A	+1.20%
2014	N/A	+1.09%
2013	N/A	+0.53%
2012	N/A	+1.47%
2011	N/A	+5.37%
2010	N/A	+1.32%
2009	N/A	+7.86%
2008	N/A	+2.14%

KMLM vs SMB 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 SMB was -12.64%, occurring on Mar 19, 2020. Recovery took 65 trading sessions.

The current KMLM drawdown is -14.93%. The current SMB drawdown is -0.19%.

Rank	KMLM	SMB
#1	-27.61% Oct 14, 2022 - Jun 20, 2025	-12.64% Mar 9, 2020 - Jun 10, 2020
#2	-14.93% Jun 13, 2022 - Sep 26, 2022	-7.48% Jul 20, 2021 - Aug 20, 2024
#3	-9.11% May 12, 2021 - Feb 4, 2022	-5.58% Sep 11, 2008 - Jan 6, 2009
#4	-6.19% Mar 8, 2022 - Mar 24, 2022	-4.11% Aug 26, 2010 - May 17, 2011
#5	-6.02% Sep 27, 2022 - Oct 10, 2022	-4.10% Aug 2, 2016 - Aug 4, 2017
#6	-5.93% Feb 24, 2021 - Apr 26, 2021	-4.07% May 1, 2013 - Feb 14, 2014
#7	-4.58% Apr 18, 2022 - May 4, 2022	-3.84% Jan 29, 2009 - May 22, 2009
#8	-3.99% Mar 25, 2022 - Apr 8, 2022	-2.46% Aug 30, 2017 - Dec 24, 2018
#9	-3.60% May 6, 2022 - May 17, 2022	-2.37% Apr 10, 2008 - Aug 12, 2008
#10	-3.57% May 17, 2022 - Jun 6, 2022	-1.96% Oct 2, 2009 - Nov 27, 2009
#11	-3.46% Jan 5, 2021 - Jan 14, 2021	-1.80% Feb 28, 2025 - May 23, 2025
#12	-2.85% Feb 24, 2022 - Mar 2, 2022	-1.79% Feb 5, 2015 - Oct 16, 2015
#13	-2.05% Jan 14, 2021 - Feb 8, 2021	-1.62% May 22, 2009 - Jul 13, 2009
#14	-1.72% Feb 14, 2022 - Feb 23, 2022	-1.53% Jan 8, 2009 - Jan 12, 2009
#15	-1.50% Dec 23, 2020 - Dec 29, 2020	-1.49% Mar 12, 2010 - May 26, 2010

Correlation

Correlation between KMLM and SMB is -0.40 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.40

-101

Dividend Comparison (2008 - 2026)

KMLM vs SMB dividend yield comparison.

Year	KMLM	SMB
2026	0.00%	1.13%
2025	5.02%	2.63%
2024	0.82%	2.38%
2023	0.00%	1.83%
2022	13.22%	1.32%
2021	6.94%	1.24%
2020	0.00%	1.50%
2019	0.00%	1.58%
2018	0.00%	1.49%
2017	0.00%	1.23%
2016	0.00%	1.12%
2015	0.00%	1.13%
2014	0.00%	1.21%
2013	0.00%	1.38%
2012	0.00%	1.64%
2011	0.00%	1.93%
2010	0.00%	2.40%
2009	0.00%	2.38%
2008	0.00%	2.34%