KMT vs. ONDS

Last updated Jul 11, 2026

KMT (Kennametal Inc.) and ONDS (Ondas Holdings Inc.) are both stocks. KMT operates in Tools & Accessories (Industrials), while ONDS operates in Communication Equipment (Technology). Over the past 5 years, KMT returned 1.37%/yr vs -0.46%/yr for ONDS. At a 0.17 correlation, their price movements are largely independent.

Performance

KMT vs. ONDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kennametal Inc. (KMT) and Ondas Holdings Inc. (ONDS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KMT achieves a 19.50% return, which is significantly higher than ONDS's -25.61% return.

KMT

• 1D: 1.39%
• 1M: -3.95%
• 6M: 10.48%
• YTD: 19.50%
• 1Y: 39.88%
• 3Y*: 7.87%
• 5Y*: 1.37%
• 10Y*: 6.72%

ONDS

• 1D: -5.10%
• 1M: -22.19%
• 6M: -46.97%
• YTD: -25.61%
• 1Y: 242.45%
• 3Y*: 76.52%
• 5Y*: -0.46%
• 10Y*: —

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

KMT vs. ONDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KMT Kennametal Inc.	19.50%	22.58%	-3.95%	10.48%	-30.97%	1.20%	1.08%	13.49%	0.70%
ONDS Ondas Holdings Inc.	-25.61%	281.25%	67.32%	-3.77%	-76.30%	-28.08%	-48.17%	0.00%	33.33%

Correlation

The correlation between KMT and ONDS is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018	0.17

Fundamentals

Market Cap KMT : $2.56B ONDS : $3.80B
EPS KMT : $1.78 ONDS : $1.52
PE Ratio KMT : 18.89 ONDS : 4.79
PS Ratio KMT : 1.21 ONDS : 12.07
Total Revenue (TTM) KMT : $2.14B ONDS : $96.60M
Gross Profit (TTM) KMT : $682.06M ONDS : $43.33M
EBITDA (TTM) KMT : $249.28M ONDS : -$75.39M

Return for Risk

KMT vs. ONDS — Risk / Return Rank

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

KMT

KMT Risk / Return Rank: 72
KMT Sharpe Ratio Rank: 73
KMT Sortino Ratio Rank: 69
KMT Omega Ratio Rank: 72
KMT Calmar Ratio Rank: 74
KMT Martin Ratio Rank: 72

ONDS

ONDS Risk / Return Rank: 90
ONDS Sharpe Ratio Rank: 92
ONDS Sortino Ratio Rank: 90
ONDS Omega Ratio Rank: 85
ONDS Calmar Ratio Rank: 94
ONDS Martin Ratio Rank: 90

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.

KMT vs. ONDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kennametal Inc. (KMT) and Ondas Holdings Inc. (ONDS). 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.

	KMT	ONDS	Difference
Sharpe ratio: Return per unit of total volatility	0.86	2.09	-1.24
Sortino ratio: Return per unit of downside risk	1.42	2.83	-1.41
Omega ratio: Gain probability vs. loss probability	1.21	1.31	-0.11
Calmar ratio: Return relative to maximum drawdown	1.52	4.93	-3.41
Martin ratio: Return relative to average drawdown	3.20	9.95	-6.75

KMT vs. ONDS - Sharpe Ratio Comparison

The current KMT Sharpe Ratio is 0.86, which is lower than the ONDS Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of KMT and ONDS, 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

KMT vs. ONDS - Drawdown Comparison

The maximum KMT drawdown since its inception was -70.10%, smaller than the maximum ONDS drawdown of -98.28%. Use the drawdown chart below to compare losses from any high point for KMT and ONDS.

Drawdown Indicators

	KMT	ONDS	Difference
Max Drawdown Largest peak-to-trough decline	-70.10%	-98.28%	+28.18%
Max Drawdown (1Y) Largest decline over 1 year	-26.25%	-53.37%	+27.12%
Max Drawdown (3Y) Largest decline over 3 years	-42.95%	-83.28%	+40.33%
Max Drawdown (5Y) Largest decline over 5 years	-52.70%	-96.99%	+44.29%
Max Drawdown (10Y) Largest decline over 10 years	-69.28%	—	—
Current Drawdown Current decline from peak	-21.93%	-62.77%	+40.84%
Average Drawdown Average peak-to-trough decline	-24.55%	-71.26%	+46.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.40%	26.38%	-13.98%

Volatility

KMT vs. ONDS - Volatility Comparison

The current volatility for Kennametal Inc. (KMT) is 11.14%, while Ondas Holdings Inc. (ONDS) has a volatility of 19.80%. This indicates that KMT experiences smaller price fluctuations and is considered to be less risky than ONDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMT	ONDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.14%	19.80%	-8.66%
Volatility (6M) Calculated over the trailing 6-month period	35.37%	72.50%	-37.13%
Volatility (1Y) Calculated over the trailing 1-year period	46.40%	125.89%	-79.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.11%	113.94%	-76.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.87%	120.27%	-79.40%

Dividends

KMT vs. ONDS - Dividend Comparison

KMT's dividend yield for the trailing twelve months is around 2.38%, while ONDS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KMT Kennametal Inc.	2.38%	2.82%	3.33%	3.10%	3.33%	2.23%	2.21%	2.17%	2.40%	1.65%	2.56%	3.96%
ONDS Ondas Holdings Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both KMT and ONDS in my portfolio?

KMT and ONDS have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMT or ONDS?

ONDS has higher volatility (19.80%) compared to KMT (11.14%). In terms of maximum drawdown, KMT dropped -70.10% vs ONDS's -98.28%.

Which has better risk-adjusted returns?

ONDS currently has the higher Sharpe Ratio (2.09 vs 0.86), 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.