INFL vs. KLMT

Last updated Jun 4, 2026

INFL (Horizon Kinetics Inflation Beneficiaries ETF) and KLMT (Invesco MSCI Global Climate 500 ETF) are both Global Equities funds. INFL is actively managed, while KLMT is passively managed. Over the past year, INFL returned 23.41% vs 27.86% for KLMT. A 0.55 correlation means they provide meaningful diversification when combined. INFL charges 0.85%/yr vs 0.10%/yr for KLMT.

Performance

INFL vs. KLMT - Performance Comparison

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

Returns By Period

In the year-to-date period, INFL achieves a 17.21% return, which is significantly higher than KLMT's 12.04% return.

INFL

• 1D: -0.48%
• 1M: -1.64%
• YTD: 17.21%
• 6M: 17.82%
• 1Y: 23.41%
• 3Y*: 21.83%
• 5Y*: 13.12%
• 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)

INFL vs. KLMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
INFL Horizon Kinetics Inflation Beneficiaries ETF	17.21%	18.30%	17.62%
KLMT Invesco MSCI Global Climate 500 ETF	12.04%	21.31%	4.94%

Correlation

The correlation between INFL and KLMT is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 27, 2024	0.55

The correlation between INFL and KLMT has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

INFL vs. KLMT - Sectors Allocation Comparison

Sectors	INFL	KLMT
Energy	40.5%	4.1%
Financial Services	21.1%	16.9%
Basic Materials	20.0%	2.8%
Utilities	2.9%	2.0%
Consumer Defensive	2.4%	4.6%
Industrials	1.8%	10.2%
Healthcare	1.2%	8.0%
Real Estate	1.1%	2.7%
Communication Services	0.3%	9.6%
Consumer Cyclical	-	9.2%
Technology	-	30.0%

Return for Risk

INFL vs. KLMT — Risk / Return Rank

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

INFL

INFL Risk / Return Rank: 45
INFL Sharpe Ratio Rank: 42
INFL Sortino Ratio Rank: 38
INFL Omega Ratio Rank: 40
INFL Calmar Ratio Rank: 56
INFL Martin Ratio Rank: 46

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.

INFL vs. KLMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Inflation Beneficiaries ETF (INFL) 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.

	INFL	KLMT	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.22	-0.71
Sortino ratio: Return per unit of downside risk	2.01	3.10	-1.09
Omega ratio: Gain probability vs. loss probability	1.27	1.40	-0.13
Calmar ratio: Return relative to maximum drawdown	2.81	2.93	-0.12
Martin ratio: Return relative to average drawdown	7.68	12.75	-5.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INFL vs. KLMT - Sharpe Ratio Comparison

The current INFL Sharpe Ratio is 1.52, which is lower than the KLMT Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of INFL 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

	INFL	KLMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.22	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	1.28	-0.37

Drawdowns

INFL vs. KLMT - Drawdown Comparison

The maximum INFL drawdown since its inception was -21.30%, which is greater than KLMT's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for INFL and KLMT.

Drawdown Indicators

	INFL	KLMT	Difference
Max Drawdown Largest peak-to-trough decline	-21.30%	-16.87%	-4.43%
Max Drawdown (1Y) Largest decline over 1 year	-8.36%	-9.54%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.30%	—	—
Current Drawdown Current decline from peak	-5.51%	-0.78%	-4.73%
Average Drawdown Average peak-to-trough decline	-5.10%	-1.91%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.19%	+0.87%

Volatility

INFL vs. KLMT - Volatility Comparison

Horizon Kinetics Inflation Beneficiaries ETF (INFL) and Invesco MSCI Global Climate 500 ETF (KLMT) have volatilities of 3.60% and 3.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INFL	KLMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.76%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	10.07%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	12.61%	+2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.71%	15.85%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	15.85%	+1.79%

INFL vs. KLMT - Expense Ratio Comparison

INFL has a 0.85% expense ratio, which is higher than KLMT's 0.10% expense ratio.

Dividends

INFL vs. KLMT - Dividend Comparison

INFL's dividend yield for the trailing twelve months is around 0.91%, less than KLMT's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021
INFL Horizon Kinetics Inflation Beneficiaries ETF	0.91%	1.26%	1.77%	1.60%	1.65%	0.91%
KLMT Invesco MSCI Global Climate 500 ETF	1.75%	1.95%	0.85%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INFL and KLMT in my portfolio?

INFL and KLMT have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INFL or KLMT?

KLMT has higher volatility (3.76%) compared to INFL (3.60%). In terms of maximum drawdown, INFL dropped -21.30% vs KLMT's -16.87%.

Which ETF is better, INFL or KLMT?

On 1-year performance, KLMT leads with 27.86% vs 23.41% for INFL. On fees, KLMT is cheaper at 0.10% per year. On volatility, INFL has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INFL or KLMT?

Over the 1-year period, KLMT has performed better with a 27.86% return vs 23.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INFL or KLMT?

KLMT is cheaper with a 0.10% expense ratio, compared with 0.85% for INFL.

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

KLMT has the higher dividend yield at 1.75%, compared with 0.91% for INFL.

What is the main difference between INFL and KLMT?

They also come from different issuers: Horizon Kinetics LLC and Invesco. Their fees differ too: 0.85% for INFL and 0.10% for KLMT.

Which has better risk-adjusted returns?

KLMT currently has the higher Sharpe Ratio (2.22 vs 1.51), 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.