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KraneShares Mount Lucas Managed Futures Index Strategy (KMLM) ETF Holdings & Analysis
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What KMLM does
The KMLM fund strives for overall capital appreciation by strategically employing both long and short positions, informed by daily trading signals, across futures contracts in commodities, currencies, and global fixed income. For tax efficiency, KMLM accesses futures markets through a wholly-owned subsidiary situated in the Cayman Islands, rather than holding the contracts directly. Annually, an index committee selects 22 distinct futures contracts from these three broad asset categories. The weighting assigned to each of the three categories is determined by their historical volatility, with all contracts within a chosen category being equally weighted. The portfolio is rebalanced on a monthly basis, and contracts are rolled over on a market-specific schedule as they approach expiration. The fund also has the discretion to invest in instruments not part of the index, including equities or various derivatives such as swaps, forwards, structured notes, and options. Historically, the fund was actively managed before April 1, 2022, and was known as the KFA Mount Lucas Index Strategy ETF until November 10, 2022. A future rebranding is scheduled for August 1, 2024, at which point "KFA" will be replaced by "KraneShares" in the fund's name.
Fund profile
Top holdings
| Holding | Weight | |
|---|---|---|
| Cash | 35.10% | |
| B 09/29/26 | 14.14% | |
| B 10/29/26 | 14.10% | |
| B 11/03/26 | 14.09% | |
| B 09/17/26 | 12.98% | |
| B 10/20/26 | 8.23% | |
| EURO | 0.38% | |
| JAPANESE YEN | 0.36% | |
| BRITISH STERLING POUND | 0.35% | |
| CANADIAN DOLLAR | 0.26% |
Geographic allocation
| Other | 100.00% |
PortView Portfolio Insights
PortView analyzes how KMLM fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.
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Frequently asked questions
- What does KMLM track?
- KMLM is the KraneShares Mount Lucas Managed Futures Index Strategy ETF, a Other ETF.
- What is the expense ratio of KMLM?
- Expense ratio data for KMLM is shown on the page when available from our data provider.
- What are the largest holdings in KMLM?
- Top holdings include Cash, B 09/29/26, B 10/29/26, B 11/03/26, B 09/17/26.
- How can PortView analyze KMLM overlap with other ETFs?
- PortView computes the holdings overlap between KMLM and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.
The information provided by PortView is for informational and educational purposes only and does not constitute investment advice. Market data may be delayed. Past performance does not guarantee future results.