KLMN vs. COMB
KLMN (Invesco MSCI North America Climate ETF) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both exchange-traded funds - KLMN is a Large Cap Blend Equities fund tracking the MSCI Global Climate 500 North America Selection Index, while COMB is a Commodities fund actively managed by GraniteShares. KLMN is passively managed, while COMB is actively managed. Over the past year, KLMN returned 27.74% vs 38.86% for COMB. At a 0.01 correlation, their price movements are largely independent. KLMN charges 0.09%/yr vs 0.25%/yr for COMB.
Performance
KLMN vs. COMB - Performance Comparison
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Returns By Period
In the year-to-date period, KLMN achieves a 10.80% return, which is significantly lower than COMB's 26.81% return.
KLMN
- 1D
- -0.74%
- 1M
- 5.01%
- YTD
- 10.80%
- 6M
- 10.80%
- 1Y
- 27.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COMB
- 1D
- 0.03%
- 1M
- -2.98%
- YTD
- 26.81%
- 6M
- 25.89%
- 1Y
- 38.86%
- 3Y*
- 16.31%
- 5Y*
- 11.27%
- 10Y*
- —
KLMN vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KLMN Invesco MSCI North America Climate ETF | 10.80% | 18.24% | -3.62% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 26.81% | 15.12% | -0.44% |
Correlation
The correlation between KLMN and COMB is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024 | 0.01 |
The correlation between KLMN and COMB shifts across timeframes, from -0.10 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KLMN vs. COMB — Risk / Return Rank
KLMN
COMB
KLMN vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI North America Climate ETF (KLMN) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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.
| KLMN | COMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 5.08 | -1.97 |
| Martin ratioReturn relative to average drawdown | 14.14 | 13.24 | +0.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KLMN | COMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | 2.29 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.99 | 0.52 | +0.46 |
Drawdowns
KLMN vs. COMB - Drawdown Comparison
The maximum KLMN drawdown since its inception was -19.16%, smaller than the maximum COMB drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for KLMN and COMB.
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Drawdown Indicators
| KLMN | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.16% | -33.50% | +14.34% |
Max Drawdown (1Y)Largest decline over 1 year | -8.96% | -7.69% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.35% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.63% | — |
Current DrawdownCurrent decline from peak | -0.74% | -4.35% | +3.61% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -12.06% | +9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.94% | -0.97% |
Volatility
KLMN vs. COMB - Volatility Comparison
The current volatility for Invesco MSCI North America Climate ETF (KLMN) is 2.95%, while GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) has a volatility of 5.14%. This indicates that KLMN experiences smaller price fluctuations and is considered to be less risky than COMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KLMN | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 5.14% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.21% | 14.99% | -5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.22% | 17.02% | -4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.61% | 16.70% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.61% | 15.13% | +2.48% |
KLMN vs. COMB - Expense Ratio Comparison
KLMN has a 0.09% expense ratio, which is lower than COMB'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. COMB - Dividend Comparison
KLMN's dividend yield for the trailing twelve months is around 1.28%, less than COMB's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.14% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
KLMN Invesco MSCI North America Climate ETF | 1.28% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KLMN and COMB have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMB has higher volatility (5.14%) compared to KLMN (2.95%). In terms of maximum drawdown, KLMN dropped -19.16% vs COMB's -33.50%.
On 1-year performance, COMB leads with 38.86% vs 27.74% for KLMN. On fees, KLMN is cheaper at 0.09% per year. On volatility, KLMN has been the lower-risk option at 2.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COMB has performed better with a 38.86% return vs 27.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KLMN is cheaper with a 0.09% expense ratio, compared with 0.25% for COMB.
COMB has the higher dividend yield at 7.14%, compared with 1.28% for KLMN.
KLMN is categorized as Large Cap Blend Equities, while COMB is Commodities. They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.09% for KLMN and 0.25% for COMB.
COMB currently has the higher Sharpe Ratio (2.29 vs 2.28), 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.
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