AQLT vs. KLMT

Last updated Jun 4, 2026

AQLT (iShares MSCI Global Quality Factor ETF) and KLMT (Invesco MSCI Global Climate 500 ETF) are both Global Equities funds - AQLT tracks the MSCI ACWI Quality Index (Net) while KLMT tracks the MSCI ACWI Select Climate 500 Index. Both are passively managed. Over the past year, AQLT returned 29.00% vs 27.86% for KLMT. Their correlation of 0.94 suggests significant overlap in exposure. AQLT charges 0.20%/yr vs 0.10%/yr for KLMT.

Performance

AQLT vs. KLMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Quality Factor ETF (AQLT) and Invesco MSCI Global Climate 500 ETF (KLMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AQLT having a 12.40% return and KLMT slightly lower at 12.04%.

AQLT

• 1D: -0.37%
• 1M: 4.34%
• YTD: 12.40%
• 6M: 12.67%
• 1Y: 29.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KLMT

• 1D: -0.78%
• 1M: 5.23%
• YTD: 12.04%
• 6M: 12.88%
• 1Y: 27.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AQLT vs. KLMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AQLT iShares MSCI Global Quality Factor ETF	12.40%	17.65%	-3.14%
KLMT Invesco MSCI Global Climate 500 ETF	12.04%	21.31%	-3.08%

Correlation

The correlation between AQLT and KLMT is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.94

The correlation between AQLT and KLMT has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

AQLT vs. KLMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AQLT

AQLT Risk / Return Rank: 64
AQLT Sharpe Ratio Rank: 66
AQLT Sortino Ratio Rank: 67
AQLT Omega Ratio Rank: 64
AQLT Calmar Ratio Rank: 55
AQLT Martin Ratio Rank: 67

KLMT

KLMT Risk / Return Rank: 67
KLMT Sharpe Ratio Rank: 68
KLMT Sortino Ratio Rank: 68
KLMT Omega Ratio Rank: 67
KLMT Calmar Ratio Rank: 60
KLMT Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AQLT vs. KLMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Quality Factor ETF (AQLT) and Invesco MSCI Global Climate 500 ETF (KLMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AQLT	KLMT	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.22	-0.04
Sortino ratio: Return per unit of downside risk	3.08	3.10	-0.01
Omega ratio: Gain probability vs. loss probability	1.39	1.40	-0.01
Calmar ratio: Return relative to maximum drawdown	2.73	2.93	-0.21
Martin ratio: Return relative to average drawdown	12.25	12.75	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AQLT vs. KLMT - Sharpe Ratio Comparison

The current AQLT Sharpe Ratio is 2.18, which is comparable to the KLMT Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of AQLT and KLMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AQLT	KLMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	2.22	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	1.28	-0.19

Drawdowns

AQLT vs. KLMT - Drawdown Comparison

The maximum AQLT drawdown since its inception was -16.84%, roughly equal to the maximum KLMT drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for AQLT and KLMT.

Drawdown Indicators

	AQLT	KLMT	Difference
Max Drawdown Largest peak-to-trough decline	-16.84%	-16.87%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-9.54%	-1.14%
Current Drawdown Current decline from peak	-0.37%	-0.78%	+0.41%
Average Drawdown Average peak-to-trough decline	-2.32%	-1.91%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.19%	+0.18%

Volatility

AQLT vs. KLMT - Volatility Comparison

The current volatility for iShares MSCI Global Quality Factor ETF (AQLT) is 3.54%, while Invesco MSCI Global Climate 500 ETF (KLMT) has a volatility of 3.76%. This indicates that AQLT experiences smaller price fluctuations and is considered to be less risky than KLMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AQLT	KLMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.76%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.82%	10.07%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	12.61%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	15.85%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	15.85%	+1.14%

AQLT vs. KLMT - Expense Ratio Comparison

AQLT has a 0.20% expense ratio, which is higher than KLMT's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AQLT vs. KLMT - Dividend Comparison

AQLT's dividend yield for the trailing twelve months is around 0.93%, less than KLMT's 1.75% yield.

Position	TTM	2025	2024
AQLT iShares MSCI Global Quality Factor ETF	0.93%	1.05%	0.02%
KLMT Invesco MSCI Global Climate 500 ETF	1.75%	1.95%	0.85%

Frequently Asked Questions

Can I hold both AQLT and KLMT in my portfolio?

With a correlation of 0.93, AQLT and KLMT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AQLT or KLMT?

KLMT has higher volatility (3.76%) compared to AQLT (3.54%). In terms of maximum drawdown, AQLT dropped -16.84% vs KLMT's -16.87%.

Which ETF is better, AQLT or KLMT?

On 1-year performance, AQLT leads with 29.00% vs 27.86% for KLMT. On fees, KLMT is cheaper at 0.10% per year. On volatility, AQLT has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AQLT or KLMT?

Over the 1-year period, AQLT has performed better with a 29.00% return vs 27.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AQLT or KLMT?

KLMT is cheaper with a 0.10% expense ratio, compared with 0.20% for AQLT.

Which ETF pays a higher dividend yield, AQLT or KLMT?

KLMT has the higher dividend yield at 1.75%, compared with 0.93% for AQLT.

What is the main difference between AQLT and KLMT?

AQLT tracks MSCI ACWI Quality Index (Net), while KLMT tracks MSCI ACWI Select Climate 500 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for AQLT and 0.10% for KLMT.

Which has better risk-adjusted returns?

KLMT currently has the higher Sharpe Ratio (2.22 vs 2.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.