KNCT vs. UMI

Last updated Jun 14, 2026

KNCT (Invesco Next Gen Connectivity ETF) and UMI (USCF Midstream Energy Income Fund ETF) are both exchange-traded funds - KNCT is a Technology Equities fund tracking the STOXX World AC NexGen Connectivity Index, while UMI is a Energy Equities fund actively managed by Wainwright, Inc.. KNCT is passively managed, while UMI is actively managed. Over the past 5 years, KNCT returned 19.43%/yr vs 19.88%/yr for UMI. At a 0.34 correlation, their price movements are largely independent. KNCT charges 0.40%/yr vs 0.85%/yr for UMI.

Performance

KNCT vs. UMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Next Gen Connectivity ETF (KNCT) and USCF Midstream Energy Income Fund ETF (UMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KNCT achieves a 52.62% return, which is significantly higher than UMI's 24.00% return.

KNCT

• 1D: 0.65%
• 1M: 6.07%
• YTD: 52.62%
• 6M: 54.67%
• 1Y: 85.43%
• 3Y*: 39.08%
• 5Y*: 19.43%
• 10Y*: 20.79%

UMI

• 1D: 0.77%
• 1M: -1.25%
• YTD: 24.00%
• 6M: 23.82%
• 1Y: 25.24%
• 3Y*: 27.76%
• 5Y*: 19.88%
• 10Y*: —

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

KNCT vs. UMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KNCT Invesco Next Gen Connectivity ETF	52.62%	28.65%	19.41%	27.39%	-29.54%	21.83%	39.14%	26.35%	5.78%	-1.28%
UMI USCF Midstream Energy Income Fund ETF	24.00%	5.11%	42.97%	14.60%	20.78%	20.97%	-8.25%	21.06%	-10.64%	2.76%

Correlation

The correlation between KNCT and UMI is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.34

The correlation between KNCT and UMI shifts across timeframes, from -0.03 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.

KNCT vs. UMI - Sectors Allocation Comparison

Sectors	KNCT	UMI
Technology	84.4%	-
Communication Services	11.4%	-
Real Estate	3.3%	-
Industrials	0.8%	-
Financial Services	0.2%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	99.0%
Healthcare	-	-
Utilities	-	1.0%

Return for Risk

KNCT vs. UMI — Risk / Return Rank

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

KNCT

KNCT Risk / Return Rank: 94
KNCT Sharpe Ratio Rank: 95
KNCT Sortino Ratio Rank: 93
KNCT Omega Ratio Rank: 93
KNCT Calmar Ratio Rank: 95
KNCT Martin Ratio Rank: 96

UMI

UMI Risk / Return Rank: 64
UMI Sharpe Ratio Rank: 64
UMI Sortino Ratio Rank: 63
UMI Omega Ratio Rank: 59
UMI Calmar Ratio Rank: 76
UMI Martin Ratio Rank: 59

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.

KNCT vs. UMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (KNCT) and USCF Midstream Energy Income Fund ETF (UMI). 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.

	KNCT	UMI	Difference
Sharpe ratio: Return per unit of total volatility	3.47	1.83	+1.64
Sortino ratio: Return per unit of downside risk	4.09	2.53	+1.55
Omega ratio: Gain probability vs. loss probability	1.58	1.32	+0.26
Calmar ratio: Return relative to maximum drawdown	6.77	3.43	+3.33
Martin ratio: Return relative to average drawdown	30.27	9.22	+21.05

KNCT vs. UMI - Sharpe Ratio Comparison

The current KNCT Sharpe Ratio is 3.47, which is higher than the UMI Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of KNCT and UMI, 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

KNCT vs. UMI - Drawdown Comparison

The maximum KNCT drawdown since its inception was -57.18%, which is greater than UMI's maximum drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for KNCT and UMI.

Drawdown Indicators

	KNCT	UMI	Difference
Max Drawdown Largest peak-to-trough decline	-57.18%	-48.08%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.30%	-7.50%	-4.80%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-17.08%	-4.32%
Max Drawdown (5Y) Largest decline over 5 years	-34.55%	-20.05%	-14.50%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	—	—
Current Drawdown Current decline from peak	-7.20%	-3.61%	-3.59%
Average Drawdown Average peak-to-trough decline	-10.73%	-6.59%	-4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.79%	-0.04%

Volatility

KNCT vs. UMI - Volatility Comparison

Invesco Next Gen Connectivity ETF (KNCT) has a higher volatility of 13.73% compared to USCF Midstream Energy Income Fund ETF (UMI) at 5.61%. This indicates that KNCT's price experiences larger fluctuations and is considered to be riskier than UMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KNCT	UMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.73%	5.61%	+8.12%
Volatility (6M) Calculated over the trailing 6-month period	20.56%	11.01%	+9.55%
Volatility (1Y) Calculated over the trailing 1-year period	24.00%	14.09%	+9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.67%	19.54%	+4.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	23.17%	+0.05%

KNCT vs. UMI - Expense Ratio Comparison

KNCT has a 0.40% expense ratio, which is lower than UMI's 0.85% expense ratio.

Dividends

KNCT vs. UMI - Dividend Comparison

KNCT's dividend yield for the trailing twelve months is around 0.61%, less than UMI's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KNCT Invesco Next Gen Connectivity ETF	0.61%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%
UMI USCF Midstream Energy Income Fund ETF	5.91%	6.23%	4.39%	4.67%	4.36%	3.00%	2.18%	2.47%	2.48%	0.15%	0.00%

Frequently Asked Questions

Can I hold both KNCT and UMI in my portfolio?

KNCT and UMI have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNCT or UMI?

KNCT has higher volatility (13.73%) compared to UMI (5.61%). In terms of maximum drawdown, KNCT dropped -57.18% vs UMI's -48.08%.

Which ETF is better, KNCT or UMI?

On 5-year performance, UMI leads with 19.88% vs 19.43% for KNCT. On fees, KNCT is cheaper at 0.40% per year. On volatility, UMI has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KNCT or UMI?

Over the 5-year period, UMI has performed better with a 19.88% return vs 19.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNCT or UMI?

KNCT is cheaper with a 0.40% expense ratio, compared with 0.85% for UMI.

Which ETF pays a higher dividend yield, KNCT or UMI?

UMI has the higher dividend yield at 5.91%, compared with 0.61% for KNCT.

What is the main difference between KNCT and UMI?

KNCT is categorized as Technology Equities, while UMI is Energy Equities. They also come from different issuers: Invesco and Wainwright, Inc.. Their fees differ too: 0.40% for KNCT and 0.85% for UMI.

Which has better risk-adjusted returns?

KNCT currently has the higher Sharpe Ratio (3.47 vs 1.83), 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.