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KMLI

GradeCNASDAQ Global Select

KraneShares 2x Long MELI Daily ETF

Leveraged · Single-Stock Leveraged · KraneShares · Inception 2025-06-11

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$8.84−0.28 (−3.10%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Jun 12, 2025.
Intraday session: down, 43 prints from 9.12 to 8.84. Range 8.74 to 9.17. Use the arrow keys to read each point.$9.00$9.2010 AM12 PM2 PM4 PM
Expense ratio
1.26%
Fund size
$6M
1Y return
−59.8%
Yield · Last 12 months
Data unavailable
Holdings
2
Volume · 30D
0.1M sh
NAV per share
$9.11
52W range
low $6.74high $26.67

The ETF.net KMLI Grade

C

45/ 100

Rank 105 of 380 in Single-Stock Long Leveraged⁠

Confidence High

Six-pillar profile for KMLI. Scores out of 100: Cost 39, Risk 48, Mission 89, Tradability 51, Holdings not scored, Durability 59. Strongest: Mission (89). Weakest: Cost (39). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 39
    Category rank234/380 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 89
    Category rank88/147 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank143/285 · top 50%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 51
    Category rank169/380 · top 44%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 59
    Category rank135/380 · top 36%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on KMLI

ETF.net Research

CThe leveraged single-stock aisle is stacked with the same US mega-caps. KMLI points the machinery somewhere else: twice Mercado Libre's daily percentage move, before fees and expenses.

Stated mandate

The fund seeks daily investment results equal to twice the daily percentage change of Mercado Libre Inc., before fees and expenses.

Why people hold it

  1. 01Twice MELI's daily percentage move, before fees, from a standard brokerage account. No margin loan, no options chain, no share borrow to arrange.kraneshares.com
  2. 02Most geared single-stock funds crowd into names like Apple and Alphabet (AAPU, GGLL). A 2x wrapper on Mercado Libre is a rarer item on the shelf.
  3. 03Its daily results track the stated 2x target closely, and it stands in the upper half of a crowded field of leveraged single-stock bulls.

Worth knowing

  1. 01The leverage resets daily. Hold past one session and compounding takes over: a choppy stretch can leave the fund well off 2x the stock's move over that period.
  2. 02The 1.26% expense ratio sits above the typical fee in this cohort, and the cost of maintaining leverage rides on top of it.
  3. 03Launched in 2025, small, and only moderately traded, so spreads can run wider than the mega-cap-linked funds beside it.

KMLI Holdings

As of Sep 21, 2026, 3:50 AM
Asset class
Stocks
Holdings
2
Top-10 weight
100%
Largest holding
MercadoLibre, Inc.66.7%

Sectors

  • Consumer Discr.100.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—MercadoLibre, Inc.66.66%6,598$12M1
002—Cash33.34%-5,888,998$6M104

Showing 1–2 of 2 holdings

KMLI Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

KMLI$4,023
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. KMLI $4,023. SPY $11,723. Use the arrow keys to read each point.$2,534$7,490$12,445Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for KMLI. Periods over one year show the average yearly return.
PeriodKMLI
Year to date−33.9%
1 month−11.5%
3 months+23.7%
1 year−59.8%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for KMLI
YearReturn barKMLI
2026 YTD−33.9%
2025−38.0%

History from Jun 12, 2025

KMLI in the news

ETF.net Research hasn’t filed on KMLI yet — coverage lands here as it’s written.

KMLI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 22, 2025 $1.45; Dec 30, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Dec 31, 2025$0.02
Dec 22, 2025Dec 23, 2025$1.45

KMLI Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
50.6%
Annualised · 14 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−1.37
vs 3-month T-bills · 14 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−73.2%
15 months · trough May 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.69
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

KMLI Cost

Expense ratio1.26%
  • The middle half of Single-Stock Long Leveraged funds
  • Median 0.98%

228 of the 329 Single-Stock Long Leveraged funds charge less.

KMLI costs $126.00 a year on $10,000. The median Single-Stock Long Leveraged fund costs $98.00.