KLMT vs. YCS

Last updated Jun 25, 2026

KLMT (Invesco MSCI Global Climate 500 ETF) and YCS (ProShares UltraShort Yen) are both exchange-traded funds - KLMT is a Global Equities fund tracking the MSCI ACWI Select Climate 500 Index, while YCS is a Leveraged Currency fund tracking the USD/JPY Exchange Rate (-200%). Both are passively managed. Over the past year, KLMT returned 23.15% vs 34.18% for YCS. At a correlation of -0.08, they often move in opposite directions. KLMT charges 0.10%/yr vs 1.00%/yr for YCS.

Performance

KLMT vs. YCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Global Climate 500 ETF (KLMT) and ProShares UltraShort Yen (YCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KLMT having a 10.09% return and YCS slightly lower at 10.06%.

KLMT

• 1D: -0.33%
• 1M: 0.00%
• YTD: 10.09%
• 6M: 9.12%
• 1Y: 23.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YCS

• 1D: 0.39%
• 1M: 3.97%
• YTD: 10.06%
• 6M: 11.27%
• 1Y: 34.18%
• 3Y*: 18.53%
• 5Y*: 23.65%
• 10Y*: 13.66%

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

KLMT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KLMT Invesco MSCI Global Climate 500 ETF	10.09%	21.31%	4.94%
YCS ProShares UltraShort Yen	10.06%	9.04%	-0.19%

Correlation

The correlation between KLMT and YCS is -0.28, 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	-0.28
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	-0.08

Over the past year, the inverse relationship between KLMT and YCS has strengthened: their correlation has moved from -0.08 to -0.28, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

KLMT vs. YCS — Risk / Return Rank

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

KLMT

KLMT Risk / Return Rank: 60
KLMT Sharpe Ratio Rank: 60
KLMT Sortino Ratio Rank: 59
KLMT Omega Ratio Rank: 59
KLMT Calmar Ratio Rank: 57
KLMT Martin Ratio Rank: 65

YCS

YCS Risk / Return Rank: 73
YCS Sharpe Ratio Rank: 71
YCS Sortino Ratio Rank: 62
YCS Omega Ratio Rank: 72
YCS Calmar Ratio Rank: 84
YCS Martin Ratio Rank: 77

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.

KLMT vs. YCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Global Climate 500 ETF (KLMT) and ProShares UltraShort Yen (YCS). 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.

	KLMT	YCS	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.04	-0.29
Sortino ratio: Return per unit of downside risk	2.43	2.57	-0.14
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	2.44	4.14	-1.70
Martin ratio: Return relative to average drawdown	10.30	13.04	-2.73

KLMT vs. YCS - Sharpe Ratio Comparison

The current KLMT Sharpe Ratio is 1.75, which is comparable to the YCS Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of KLMT and YCS, 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

KLMT vs. YCS - Drawdown Comparison

The maximum KLMT drawdown since its inception was -16.87%, smaller than the maximum YCS drawdown of -49.56%. Use the drawdown chart below to compare losses from any high point for KLMT and YCS.

Drawdown Indicators

	KLMT	YCS	Difference
Max Drawdown Largest peak-to-trough decline	-16.87%	-49.56%	+32.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-8.30%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.32%	—
Current Drawdown Current decline from peak	-2.50%	0.00%	-2.50%
Average Drawdown Average peak-to-trough decline	-1.91%	-19.87%	+17.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	2.63%	-0.38%

Volatility

KLMT vs. YCS - Volatility Comparison

Invesco MSCI Global Climate 500 ETF (KLMT) has a higher volatility of 5.41% compared to ProShares UltraShort Yen (YCS) at 2.25%. This indicates that KLMT's price experiences larger fluctuations and is considered to be riskier than YCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLMT	YCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.41%	2.25%	+3.16%
Volatility (6M) Calculated over the trailing 6-month period	11.08%	11.91%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	16.93%	-3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	21.10%	-5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	18.82%	-2.80%

KLMT vs. YCS - Expense Ratio Comparison

KLMT has a 0.10% expense ratio, which is lower than YCS's 1.00% expense ratio.

Dividends

KLMT vs. YCS - Dividend Comparison

KLMT's dividend yield for the trailing twelve months is around 1.79%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
KLMT Invesco MSCI Global Climate 500 ETF	1.79%	1.95%	0.85%
YCS ProShares UltraShort Yen	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KLMT and YCS in my portfolio?

KLMT and YCS have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KLMT or YCS?

KLMT has higher volatility (5.41%) compared to YCS (2.25%). In terms of maximum drawdown, KLMT dropped -16.87% vs YCS's -49.56%.

Which ETF is better, KLMT or YCS?

On 1-year performance, YCS leads with 34.18% vs 23.15% for KLMT. On fees, KLMT is cheaper at 0.10% per year. On volatility, YCS has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KLMT or YCS?

Over the 1-year period, YCS has performed better with a 34.18% return vs 23.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KLMT or YCS?

KLMT is cheaper with a 0.10% expense ratio, compared with 1.00% for YCS.

Which ETF pays a higher dividend yield, KLMT or YCS?

KLMT has the higher dividend yield at 1.79%, compared with 0.00% for YCS.

What is the main difference between KLMT and YCS?

KLMT is categorized as Global Equities, while YCS is Leveraged Currency. KLMT tracks MSCI ACWI Select Climate 500 Index, while YCS tracks USD/JPY Exchange Rate (-200%). They also come from different issuers: Invesco and ProShares. Their fees differ too: 0.10% for KLMT and 1.00% for YCS.

Which has better risk-adjusted returns?

YCS currently has the higher Sharpe Ratio (2.04 vs 1.75), 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.