KLMT vs. YCS

Last updated Aug 5, 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 25.45% vs 23.44% for YCS. Their -0.08 correlation means they have often moved in opposite directions in the past. 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

In the year-to-date period, KLMT achieves a 15.17% return, which is significantly higher than YCS's 5.42% return.

KLMT

• 1D: 1.68%
• 1M: 3.32%
• 6M: 12.38%
• YTD: 15.17%
• 1Y: 25.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.93%

YCS

• 1D: 1.26%
• 1M: -3.97%
• 6M: 6.17%
• YTD: 5.42%
• 1Y: 23.44%
• 3Y*: 17.45%
• 5Y*: 23.10%
• 10Y*: 13.35%
• ALL TIME*: 6.33%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KLMT Invesco MSCI Global Climate 500 ETF	$56.55K	$62.22K	$75.80K
YCS ProShares UltraShort Yen	$2.54M	$2.29M	$1.59M

KLMT vs. YCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KLMT Invesco MSCI Global Climate 500 ETF	15.17%	21.31%	4.94%
YCS ProShares UltraShort Yen	5.42%	9.04%	-0.19%

Correlation

The correlation between KLMT and YCS is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.25
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	-0.08

The correlation between KLMT and YCS shifts across timeframes, from -0.25 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KLMT vs. YCS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KLMT

KLMT Risk / Return Rank: 72
KLMT Sharpe Ratio Rank: 72
KLMT Sortino Ratio Rank: 70
KLMT Omega Ratio Rank: 70
KLMT Calmar Ratio Rank: 68
KLMT Martin Ratio Rank: 78

YCS

YCS Risk / Return Rank: 59
YCS Sharpe Ratio Rank: 51
YCS Sortino Ratio Rank: 45
YCS Omega Ratio Rank: 56
YCS Calmar Ratio Rank: 71
YCS Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.87	1.43	+0.43
Sortino ratio: Return per unit of downside risk	2.58	1.85	+0.73
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.05
Calmar ratio: Return relative to maximum drawdown	2.68	2.78	-0.10
Martin ratio: Return relative to average drawdown	11.17	10.25	+0.92

KLMT vs. YCS - Sharpe Ratio Comparison

The current KLMT Sharpe Ratio is 1.87, which is higher than the YCS Sharpe Ratio of 1.43. 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%	-8.48%	-1.06%
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	0.00%	-7.32%	+7.32%
Average Drawdown Average peak-to-trough decline	-1.87%	-19.75%	+17.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	2.29%	-0.01%

Volatility

KLMT vs. YCS - Volatility Comparison

The current volatility for Invesco MSCI Global Climate 500 ETF (KLMT) is 4.16%, while ProShares UltraShort Yen (YCS) has a volatility of 5.95%. This indicates that KLMT experiences smaller price fluctuations and is considered to be less risky 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	4.16%	5.95%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	11.87%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	13.76%	16.44%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	21.21%	-5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	18.61%	-2.72%

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 1.71%, while YCS has not paid dividends to shareholders.

Position	TTM	2025	2024
KLMT Invesco MSCI Global Climate 500 ETF	1.71%	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 -0.25, 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?

YCS has higher volatility (5.95%) compared to KLMT (4.16%). 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, KLMT leads with 25.45% vs 23.44% for YCS. On fees, KLMT is cheaper at 0.10% per year. On volatility, KLMT has been the lower-risk option at 4.16%. 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, KLMT has performed better with a 25.45% return vs 23.44%. 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 1.71%, 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?

KLMT currently has the higher Sharpe Ratio (1.87 vs 1.43), 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.