KLMN vs. BBUS

Last updated Jun 24, 2026

KLMN (Invesco MSCI North America Climate ETF) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds - KLMN tracks the MSCI Global Climate 500 North America Selection Index while BBUS tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past year, KLMN returned 23.71% vs 22.78% for BBUS. With a 0.98 correlation, they move nearly in lockstep. KLMN charges 0.09%/yr vs 0.02%/yr for BBUS.

Performance

KLMN vs. BBUS - Performance Comparison

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

Returns By Period

In the year-to-date period, KLMN achieves a 8.37% return, which is significantly higher than BBUS's 7.57% return.

KLMN

• 1D: -1.03%
• 1M: -0.90%
• YTD: 8.37%
• 6M: 7.60%
• 1Y: 23.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBUS

• 1D: -1.68%
• 1M: -1.53%
• YTD: 7.57%
• 6M: 6.62%
• 1Y: 22.78%
• 3Y*: 20.70%
• 5Y*: 12.52%
• 10Y*: —

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

KLMN vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KLMN Invesco MSCI North America Climate ETF	8.37%	18.24%	-3.62%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	7.57%	17.77%	-2.63%

Correlation

The correlation between KLMN and BBUS is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.98

The correlation between KLMN and BBUS has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

KLMN vs. BBUS — Risk / Return Rank

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

KLMN

KLMN Risk / Return Rank: 62
KLMN Sharpe Ratio Rank: 63
KLMN Sortino Ratio Rank: 61
KLMN Omega Ratio Rank: 60
KLMN Calmar Ratio Rank: 59
KLMN Martin Ratio Rank: 69

BBUS

BBUS Risk / Return Rank: 56
BBUS Sharpe Ratio Rank: 56
BBUS Sortino Ratio Rank: 54
BBUS Omega Ratio Rank: 55
BBUS Calmar Ratio Rank: 52
BBUS Martin Ratio Rank: 63

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. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI North America Climate ETF (KLMN) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.82	+0.06
Sortino ratio: Return per unit of downside risk	2.59	2.48	+0.11
Omega ratio: Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio: Return relative to maximum drawdown	2.66	2.49	+0.17
Martin ratio: Return relative to average drawdown	11.65	10.97	+0.68

KLMN vs. BBUS - Sharpe Ratio Comparison

The current KLMN Sharpe Ratio is 1.88, which is comparable to the BBUS Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of KLMN and BBUS, 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. BBUS - Drawdown Comparison

The maximum KLMN drawdown since its inception was -19.16%, smaller than the maximum BBUS drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for KLMN and BBUS.

Drawdown Indicators

	KLMN	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-35.35%	+16.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-9.21%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.46%	—
Current Drawdown Current decline from peak	-2.92%	-3.47%	+0.55%
Average Drawdown Average peak-to-trough decline	-2.52%	-5.43%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.08%	-0.04%

Volatility

KLMN vs. BBUS - Volatility Comparison

The current volatility for Invesco MSCI North America Climate ETF (KLMN) is 4.36%, while JPMorgan BetaBuilders U.S. Equity ETF (BBUS) has a volatility of 5.00%. This indicates that KLMN experiences smaller price fluctuations and is considered to be less risky than BBUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLMN	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	5.00%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	9.95%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	12.59%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	17.14%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	19.59%	-2.00%

KLMN vs. BBUS - Expense Ratio Comparison

KLMN has a 0.09% expense ratio, which is higher than BBUS's 0.02% 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

KLMN vs. BBUS - Dividend Comparison

KLMN's dividend yield for the trailing twelve months is around 1.22%, more than BBUS's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JPMorgan BetaBuilders U.S. Equity ETF	1.01%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
KLMN Invesco MSCI North America Climate ETF	1.22%	1.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KLMN and BBUS in my portfolio?

With a correlation of 0.97, KLMN and BBUS 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, KLMN or BBUS?

BBUS has higher volatility (5.00%) compared to KLMN (4.36%). In terms of maximum drawdown, KLMN dropped -19.16% vs BBUS's -35.35%.

Which ETF is better, KLMN or BBUS?

On 1-year performance, KLMN leads with 23.71% vs 22.78% for BBUS. On fees, BBUS is cheaper at 0.02% per year. On volatility, KLMN has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KLMN or BBUS?

Over the 1-year period, KLMN has performed better with a 23.71% return vs 22.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KLMN or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.09% for KLMN.

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

KLMN has the higher dividend yield at 1.22%, compared with 1.01% for BBUS.

What is the main difference between KLMN and BBUS?

KLMN tracks MSCI Global Climate 500 North America Selection Index, while BBUS tracks Morningstar US Target Market Exposure Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.09% for KLMN and 0.02% for BBUS.

Which has better risk-adjusted returns?

KLMN currently has the higher Sharpe Ratio (1.88 vs 1.82), 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.