KCCA vs. EVMT

Last updated Jun 6, 2026

KCCA (KraneShares California Carbon Allowance Strategy ETF) and EVMT (Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF) are both Commodities funds. KCCA is passively managed, while EVMT is actively managed. Over the past 3 years, KCCA returned -2.39%/yr vs 4.08%/yr for EVMT. At a 0.08 correlation, their price movements are largely independent. KCCA charges 0.91%/yr vs 0.59%/yr for EVMT.

Performance

KCCA vs. EVMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares California Carbon Allowance Strategy ETF (KCCA) and Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KCCA achieves a -1.01% return, which is significantly lower than EVMT's 10.97% return.

KCCA

• 1D: 0.09%
• 1M: 11.42%
• YTD: -1.01%
• 6M: 2.68%
• 1Y: 16.63%
• 3Y*: -2.39%
• 5Y*: —
• 10Y*: —

EVMT

• 1D: -1.39%
• 1M: -1.75%
• YTD: 10.97%
• 6M: 19.63%
• 1Y: 38.31%
• 3Y*: 4.08%
• 5Y*: —
• 10Y*: —

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

KCCA vs. EVMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
KCCA KraneShares California Carbon Allowance Strategy ETF	-1.01%	-11.81%	-16.05%	34.07%	-8.65%
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	10.97%	30.61%	-10.50%	-27.71%	-16.95%

Correlation

The correlation between KCCA and EVMT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022	0.08

Return for Risk

KCCA vs. EVMT — Risk / Return Rank

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

KCCA

KCCA Risk / Return Rank: 30
KCCA Sharpe Ratio Rank: 32
KCCA Sortino Ratio Rank: 34
KCCA Omega Ratio Rank: 39
KCCA Calmar Ratio Rank: 25
KCCA Martin Ratio Rank: 19

EVMT

EVMT Risk / Return Rank: 84
EVMT Sharpe Ratio Rank: 83
EVMT Sortino Ratio Rank: 81
EVMT Omega Ratio Rank: 82
EVMT Calmar Ratio Rank: 88
EVMT Martin Ratio Rank: 84

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.

KCCA vs. EVMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares California Carbon Allowance Strategy ETF (KCCA) and Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT). 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.

	KCCA	EVMT	Difference
Sharpe ratio: Return per unit of total volatility	1.07	2.53	-1.46
Sortino ratio: Return per unit of downside risk	1.66	3.41	-1.76
Omega ratio: Gain probability vs. loss probability	1.24	1.46	-0.22
Calmar ratio: Return relative to maximum drawdown	1.09	4.84	-3.74
Martin ratio: Return relative to average drawdown	1.91	16.28	-14.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KCCA vs. EVMT - Sharpe Ratio Comparison

The current KCCA Sharpe Ratio is 1.07, which is lower than the EVMT Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of KCCA and EVMT, 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

	KCCA	EVMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	2.53	-1.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	-0.29	+0.18

Drawdowns

KCCA vs. EVMT - Drawdown Comparison

The maximum KCCA drawdown since its inception was -40.88%, smaller than the maximum EVMT drawdown of -48.34%. Use the drawdown chart below to compare losses from any high point for KCCA and EVMT.

Drawdown Indicators

	KCCA	EVMT	Difference
Max Drawdown Largest peak-to-trough decline	-40.88%	-48.34%	+7.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.30%	-7.96%	-7.34%
Max Drawdown (3Y) Largest decline over 3 years	-40.88%	-29.38%	-11.50%
Current Drawdown Current decline from peak	-29.82%	-23.40%	-6.42%
Average Drawdown Average peak-to-trough decline	-21.45%	-34.71%	+13.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.71%	2.37%	+6.34%

Volatility

KCCA vs. EVMT - Volatility Comparison

The current volatility for KraneShares California Carbon Allowance Strategy ETF (KCCA) is 3.26%, while Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF (EVMT) has a volatility of 4.43%. This indicates that KCCA experiences smaller price fluctuations and is considered to be less risky than EVMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KCCA	EVMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	4.43%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	13.51%	-3.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	15.19%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	20.51%	+3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.01%	20.51%	+3.50%

KCCA vs. EVMT - Expense Ratio Comparison

KCCA has a 0.91% expense ratio, which is higher than EVMT's 0.59% expense ratio.

Dividends

KCCA vs. EVMT - Dividend Comparison

KCCA's dividend yield for the trailing twelve months is around 2.90%, less than EVMT's 10.63% yield.

Position	TTM	2025	2024	2023	2022
EVMT Invesco Electric Vehicle Metals Commodity Strategy No K-1 ETF	10.63%	11.80%	3.62%	5.49%	0.86%
KCCA KraneShares California Carbon Allowance Strategy ETF	2.90%	2.87%	30.58%	3.12%	0.24%

Frequently Asked Questions

Can I hold both KCCA and EVMT in my portfolio?

KCCA and EVMT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KCCA or EVMT?

EVMT has higher volatility (4.43%) compared to KCCA (3.26%). In terms of maximum drawdown, KCCA dropped -40.88% vs EVMT's -48.34%.

Which ETF is better, KCCA or EVMT?

On 3-year performance, EVMT leads with 4.08% vs -2.39% for KCCA. On fees, EVMT is cheaper at 0.59% per year. On volatility, KCCA has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KCCA or EVMT?

Over the 3-year period, EVMT has performed better with a 4.08% return vs -2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KCCA or EVMT?

EVMT is cheaper with a 0.59% expense ratio, compared with 0.91% for KCCA.

Which ETF pays a higher dividend yield, KCCA or EVMT?

EVMT has the higher dividend yield at 10.63%, compared with 2.90% for KCCA.

What is the main difference between KCCA and EVMT?

They also come from different issuers: KraneShares and Invesco. Their fees differ too: 0.91% for KCCA and 0.59% for EVMT.

Which has better risk-adjusted returns?

EVMT currently has the higher Sharpe Ratio (2.53 vs 1.07), 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.