KNO vs. KLMT

Last updated Jul 8, 2026

KNO (AXS Knowledge Leaders ETF) and KLMT (Invesco MSCI Global Climate 500 ETF) are both Global Equities funds. KNO is actively managed, while KLMT is passively managed. Over the past year, KNO returned 29.48% vs 23.21% for KLMT. Their correlation of 0.84 suggests significant overlap in exposure. KNO charges 0.84%/yr vs 0.10%/yr for KLMT.

Performance

KNO vs. KLMT - Performance Comparison

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

Returns By Period

In the year-to-date period, KNO achieves a 21.26% return, which is significantly higher than KLMT's 11.88% return.

KNO

• 1D: -1.83%
• 1M: 2.52%
• 6M: 18.30%
• YTD: 21.26%
• 1Y: 29.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KLMT

• 1D: -0.81%
• 1M: 2.63%
• 6M: 9.79%
• YTD: 11.88%
• 1Y: 23.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KNO vs. KLMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KNO AXS Knowledge Leaders ETF	21.26%	19.84%	-1.19%
KLMT Invesco MSCI Global Climate 500 ETF	11.88%	21.31%	4.00%

Correlation

The correlation between KNO and KLMT is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 22, 2024	0.84

The correlation between KNO and KLMT has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

KNO vs. KLMT — Risk / Return Rank

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

KNO

KNO Risk / Return Rank: 63
KNO Sharpe Ratio Rank: 62
KNO Sortino Ratio Rank: 61
KNO Omega Ratio Rank: 63
KNO Calmar Ratio Rank: 62
KNO Martin Ratio Rank: 68

KLMT

KLMT Risk / Return Rank: 63
KLMT Sharpe Ratio Rank: 64
KLMT Sortino Ratio Rank: 62
KLMT Omega Ratio Rank: 63
KLMT Calmar Ratio Rank: 59
KLMT Martin Ratio Rank: 69

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.

KNO vs. KLMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AXS Knowledge Leaders ETF (KNO) and Invesco MSCI Global Climate 500 ETF (KLMT). 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.

	KNO	KLMT	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.74	-0.06
Sortino ratio: Return per unit of downside risk	2.38	2.43	-0.05
Omega ratio: Gain probability vs. loss probability	1.31	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.54	2.44	+0.09
Martin ratio: Return relative to average drawdown	10.13	10.27	-0.13

KNO vs. KLMT - Sharpe Ratio Comparison

The current KNO Sharpe Ratio is 1.68, which is comparable to the KLMT Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of KNO and KLMT, 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

KNO vs. KLMT - Drawdown Comparison

The maximum KNO drawdown since its inception was -15.50%, smaller than the maximum KLMT drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for KNO and KLMT.

Drawdown Indicators

	KNO	KLMT	Difference
Max Drawdown Largest peak-to-trough decline	-15.50%	-16.87%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-9.54%	-2.13%
Current Drawdown Current decline from peak	-4.53%	-0.92%	-3.61%
Average Drawdown Average peak-to-trough decline	-2.92%	-1.90%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.92%	2.27%	+0.65%

Volatility

KNO vs. KLMT - Volatility Comparison

AXS Knowledge Leaders ETF (KNO) has a higher volatility of 10.15% compared to Invesco MSCI Global Climate 500 ETF (KLMT) at 5.61%. This indicates that KNO's price experiences larger fluctuations and is considered to be riskier than KLMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KNO	KLMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.15%	5.61%	+4.54%
Volatility (6M) Calculated over the trailing 6-month period	15.77%	11.20%	+4.57%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	13.43%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.40%	15.96%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	15.96%	+1.44%

KNO vs. KLMT - Expense Ratio Comparison

KNO has a 0.84% expense ratio, which is higher than KLMT's 0.10% expense ratio.

Dividends

KNO vs. KLMT - Dividend Comparison

KNO's dividend yield for the trailing twelve months is around 0.89%, less than KLMT's 1.76% yield.

Position	TTM	2025	2024
KLMT Invesco MSCI Global Climate 500 ETF	1.76%	1.95%	0.85%
KNO AXS Knowledge Leaders ETF	0.89%	1.08%	3.13%

Frequently Asked Questions

Can I hold both KNO and KLMT in my portfolio?

KNO and KLMT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KNO or KLMT?

KNO has higher volatility (10.15%) compared to KLMT (5.61%). In terms of maximum drawdown, KNO dropped -15.50% vs KLMT's -16.87%.

Which ETF is better, KNO or KLMT?

On 1-year performance, KNO leads with 29.48% vs 23.21% for KLMT. On fees, KLMT is cheaper at 0.10% per year. On volatility, KLMT 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, KNO or KLMT?

Over the 1-year period, KNO has performed better with a 29.48% return vs 23.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KNO or KLMT?

KLMT is cheaper with a 0.10% expense ratio, compared with 0.84% for KNO.

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

KLMT has the higher dividend yield at 1.76%, compared with 0.89% for KNO.

What is the main difference between KNO and KLMT?

They also come from different issuers: AXS and Invesco. Their fees differ too: 0.84% for KNO and 0.10% for KLMT.

Which has better risk-adjusted returns?

KLMT currently has the higher Sharpe Ratio (1.74 vs 1.68), 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.