KLMN vs. AVIE

Last updated Jul 16, 2026

KLMN (Invesco MSCI North America Climate ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. KLMN is passively managed, while AVIE is actively managed. Over the past year, KLMN returned 22.32% vs 26.60% for AVIE. At a 0.35 correlation, their price movements are largely independent. KLMN charges 0.09%/yr vs 0.25%/yr for AVIE.

Performance

KLMN vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI North America Climate ETF (KLMN) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KLMN achieves a 11.18% return, which is significantly lower than AVIE's 15.52% return.

KLMN

• 1D: 0.28%
• 1M: 0.38%
• 6M: 10.28%
• YTD: 11.18%
• 1Y: 22.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVIE

• 1D: -0.66%
• 1M: 1.37%
• 6M: 11.05%
• YTD: 15.52%
• 1Y: 26.60%
• 3Y*: 13.08%
• 5Y*: —
• 10Y*: —

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

KLMN vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KLMN Invesco MSCI North America Climate ETF	11.18%	18.24%	-3.62%
AVIE Avantis Inflation Focused Equity ETF	15.52%	11.37%	-4.11%

Correlation

The correlation between KLMN and AVIE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.35

The correlation between KLMN and AVIE shifts across timeframes, from 0.17 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KLMN vs. AVIE — Risk / Return Rank

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

KLMN

KLMN Risk / Return Rank: 66
KLMN Sharpe Ratio Rank: 67
KLMN Sortino Ratio Rank: 66
KLMN Omega Ratio Rank: 64
KLMN Calmar Ratio Rank: 61
KLMN Martin Ratio Rank: 73

AVIE

AVIE Risk / Return Rank: 92
AVIE Sharpe Ratio Rank: 93
AVIE Sortino Ratio Rank: 94
AVIE Omega Ratio Rank: 91
AVIE Calmar Ratio Rank: 94
AVIE Martin Ratio Rank: 91

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.

KLMN vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI North America Climate ETF (KLMN) and Avantis Inflation Focused Equity ETF (AVIE). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	KLMN	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.64	-0.87
Sortino ratio: Return per unit of downside risk	2.45	3.86	-1.42
Omega ratio: Gain probability vs. loss probability	1.31	1.47	-0.15
Calmar ratio: Return relative to maximum drawdown	2.50	5.38	-2.87
Martin ratio: Return relative to average drawdown	10.72	16.97	-6.25

KLMN vs. AVIE - Sharpe Ratio Comparison

The current KLMN Sharpe Ratio is 1.77, which is lower than the AVIE Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of KLMN and AVIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KLMN vs. AVIE - Drawdown Comparison

The maximum KLMN drawdown since its inception was -19.16%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for KLMN and AVIE.

Drawdown Indicators

	KLMN	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-12.39%	-6.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-4.97%	-3.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.39%	—
Current Drawdown Current decline from peak	-0.40%	-1.28%	+0.88%
Average Drawdown Average peak-to-trough decline	-2.49%	-2.96%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.57%	+0.52%

Volatility

KLMN vs. AVIE - Volatility Comparison

The current volatility for Invesco MSCI North America Climate ETF (KLMN) is 3.38%, while Avantis Inflation Focused Equity ETF (AVIE) has a volatility of 3.75%. This indicates that KLMN experiences smaller price fluctuations and is considered to be less risky than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLMN	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	3.75%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	7.54%	+2.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	10.23%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	12.90%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	12.90%	+4.45%

KLMN vs. AVIE - Expense Ratio Comparison

KLMN has a 0.09% expense ratio, which is lower than AVIE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

KLMN vs. AVIE - Dividend Comparison

KLMN's dividend yield for the trailing twelve months is around 1.19%, less than AVIE's 1.43% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.43%	1.75%	1.89%	3.72%	0.39%
KLMN Invesco MSCI North America Climate ETF	1.19%	1.25%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KLMN and AVIE in my portfolio?

KLMN and AVIE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KLMN or AVIE?

AVIE has higher volatility (3.75%) compared to KLMN (3.38%). In terms of maximum drawdown, KLMN dropped -19.16% vs AVIE's -12.39%.

Which ETF is better, KLMN or AVIE?

On 1-year performance, AVIE leads with 26.60% vs 22.32% for KLMN. On fees, KLMN is cheaper at 0.09% per year. On volatility, KLMN has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KLMN or AVIE?

Over the 1-year period, AVIE has performed better with a 26.60% return vs 22.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KLMN or AVIE?

KLMN is cheaper with a 0.09% expense ratio, compared with 0.25% for AVIE.

Which ETF pays a higher dividend yield, KLMN or AVIE?

AVIE has the higher dividend yield at 1.43%, compared with 1.19% for KLMN.

What is the main difference between KLMN and AVIE?

They also come from different issuers: Invesco and Avantis. Their fees differ too: 0.09% for KLMN and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.64 vs 1.77), 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.