KLMN vs. IVRA

Last updated Jul 15, 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. At a 0.35 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

KLMN

• 1D: 0.45%
• 1M: 1.80%
• 6M: 9.30%
• YTD: 10.87%
• 1Y: 21.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVRA

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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	10.87%	18.24%	-3.62%
IVRA Invesco Real Assets ESG ETF	11.70%	10.20%	-3.65%

Correlation

The correlation between KLMN and IVRA is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.35

Over the past year, the correlation between KLMN and IVRA has dropped to 0.12 - well below their long-term average of 0.35, suggesting their price drivers have been diverging.

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: 65
KLMN Sharpe Ratio Rank: 65
KLMN Sortino Ratio Rank: 64
KLMN Omega Ratio Rank: 63
KLMN Calmar Ratio Rank: 61
KLMN Martin Ratio Rank: 71

IVRA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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	IVRA	Difference
Sharpe ratio: Return per unit of total volatility	1.71	—	—
Sortino ratio: Return per unit of downside risk	2.37	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.42	—	—
Martin ratio: Return relative to average drawdown	10.36	—	—

Drawdowns

Drawdown Indicators

	KLMN	IVRA	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	—	—
Current Drawdown Current decline from peak	-0.68%	—	—
Average Drawdown Average peak-to-trough decline	-2.49%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	—	—

Volatility

Volatility by Period

	KLMN	IVRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.66%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.37%	—	—

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 1.20%, while IVRA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
IVRA Invesco Real Assets ESG ETF	16.80%	5.68%	3.71%	2.47%	2.30%	3.01%
KLMN Invesco MSCI North America Climate ETF	1.20%	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 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KLMN or IVRA?

On fees, KLMN is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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 16.80%, compared with 1.20% 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.