KLMN vs. IVRA

Last updated Jun 4, 2026

KLMN (Invesco MSCI North America Climate ETF) and IVRA (Invesco Real Assets ESG 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 IVRA is a ESG fund actively managed by Invesco. KLMN is passively managed, while IVRA is actively managed. Over the past year, KLMN returned 27.74% vs 15.73% for IVRA. At a 0.37 correlation, their price movements are largely independent. KLMN charges 0.09%/yr vs 0.59%/yr for IVRA.

Performance

KLMN vs. IVRA - Performance Comparison

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

Returns By Period

In the year-to-date period, KLMN achieves a 10.80% return, which is significantly lower than IVRA's 11.70% return.

KLMN

• 1D: -0.74%
• 1M: 5.01%
• YTD: 10.80%
• 6M: 10.80%
• 1Y: 27.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVRA

• 1D: 0.00%
• 1M: 0.00%
• YTD: 11.70%
• 6M: 12.41%
• 1Y: 15.73%
• 3Y*: 15.46%
• 5Y*: 7.62%
• 10Y*: —

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

KLMN vs. IVRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KLMN Invesco MSCI North America Climate ETF	10.80%	18.24%	-3.62%
IVRA Invesco Real Assets ESG ETF	11.70%	10.20%	-3.56%

Correlation

The correlation between KLMN and IVRA is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Dec 12, 2024	0.37

The correlation between KLMN and IVRA shifts across timeframes, from 0.18 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KLMN vs. IVRA — Risk / Return Rank

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

KLMN

KLMN Risk / Return Rank: 70
KLMN Sharpe Ratio Rank: 71
KLMN Sortino Ratio Rank: 69
KLMN Omega Ratio Rank: 69
KLMN Calmar Ratio Rank: 64
KLMN Martin Ratio Rank: 75

IVRA

IVRA Risk / Return Rank: 58
IVRA Sharpe Ratio Rank: 50
IVRA Sortino Ratio Rank: 51
IVRA Omega Ratio Rank: 57
IVRA Calmar Ratio Rank: 69
IVRA Martin Ratio Rank: 66

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. IVRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI North America Climate ETF (KLMN) and Invesco Real Assets ESG ETF (IVRA). 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	IVRA	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.72	+0.56
Sortino ratio: Return per unit of downside risk	3.12	2.49	+0.63
Omega ratio: Gain probability vs. loss probability	1.41	1.36	+0.05
Calmar ratio: Return relative to maximum drawdown	3.11	3.46	-0.35
Martin ratio: Return relative to average drawdown	14.14	12.02	+2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KLMN vs. IVRA - Sharpe Ratio Comparison

The current KLMN Sharpe Ratio is 2.28, which is higher than the IVRA Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of KLMN and IVRA, 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

	KLMN	IVRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.72	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.73	+0.26

Drawdowns

KLMN vs. IVRA - Drawdown Comparison

The maximum KLMN drawdown since its inception was -19.16%, smaller than the maximum IVRA drawdown of -25.99%. Use the drawdown chart below to compare losses from any high point for KLMN and IVRA.

Drawdown Indicators

	KLMN	IVRA	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-25.99%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-4.60%	-4.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.99%	—
Current Drawdown Current decline from peak	-0.74%	-0.92%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.54%	-7.27%	+4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.32%	+0.65%

Volatility

KLMN vs. IVRA - Volatility Comparison

Invesco MSCI North America Climate ETF (KLMN) has a higher volatility of 2.95% compared to Invesco Real Assets ESG ETF (IVRA) at 0.00%. This indicates that KLMN's price experiences larger fluctuations and is considered to be riskier than IVRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLMN	IVRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.95%	0.00%	+2.95%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	5.45%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	9.27%	+2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	16.58%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	16.39%	+1.22%

KLMN vs. IVRA - Expense Ratio Comparison

KLMN has a 0.09% expense ratio, which is lower than IVRA's 0.59% expense ratio.

Dividends

KLMN vs. IVRA - Dividend Comparison

KLMN's dividend yield for the trailing twelve months is around 1.28%, less than IVRA's 16.99% yield.

Position	TTM	2025	2024	2023	2022	2021
IVRA Invesco Real Assets ESG ETF	16.99%	5.68%	3.71%	2.47%	2.30%	3.01%
KLMN Invesco MSCI North America Climate ETF	1.28%	1.25%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KLMN and IVRA in my portfolio?

KLMN and IVRA have a correlation of 0.18, 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 IVRA?

KLMN has higher volatility (2.95%) compared to IVRA (0.00%). In terms of maximum drawdown, KLMN dropped -19.16% vs IVRA's -25.99%.

Which ETF is better, KLMN or IVRA?

On 1-year performance, KLMN leads with 27.74% vs 15.73% for IVRA. On fees, KLMN is cheaper at 0.09% per year. On volatility, IVRA has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KLMN or IVRA?

Over the 1-year period, KLMN has performed better with a 27.74% return vs 15.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KLMN or IVRA?

KLMN is cheaper with a 0.09% expense ratio, compared with 0.59% for IVRA.

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

IVRA has the higher dividend yield at 16.99%, compared with 1.28% for KLMN.

What is the main difference between KLMN and IVRA?

KLMN is categorized as Large Cap Blend Equities, while IVRA is ESG. Their fees differ too: 0.09% for KLMN and 0.59% for IVRA.

Which has better risk-adjusted returns?

KLMN currently has the higher Sharpe Ratio (2.28 vs 1.72), 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.