PSP vs. KLMT

Last updated Aug 4, 2026

PSP (Invesco Global Listed Private Equity ETF) and KLMT (Invesco MSCI Global Climate 500 ETF) are both Global Equities funds from Invesco - PSP tracks the Red Rocks Global Listed Private Equity Index while KLMT tracks the MSCI ACWI Select Climate 500 Index. Both are passively managed. Over the past year, PSP returned -5.60% vs 23.90% for KLMT. Their 0.75 correlation means they have sometimes moved together and sometimes differently. PSP charges 1.44%/yr vs 0.10%/yr for KLMT.

Performance

PSP vs. KLMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Listed Private Equity ETF (PSP) 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, PSP achieves a -6.39% return, which is significantly lower than KLMT's 12.18% return.

PSP

• 1D: 2.95%
• 1M: 7.63%
• 6M: -6.77%
• YTD: -6.39%
• 1Y: -5.60%
• 3Y*: 10.70%
• 5Y*: 0.37%
• 10Y*: 8.24%
• ALL TIME*: 2.63%

KLMT

• 1D: 0.84%
• 1M: 0.63%
• 6M: 9.37%
• YTD: 12.18%
• 1Y: 23.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.55%

*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	$54.97K	$63.59K	$76.30K
PSP Invesco Global Listed Private Equity ETF	$1.16M	$1.10M	$2.69M

PSP vs. KLMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PSP Invesco Global Listed Private Equity ETF	-6.39%	6.49%	12.26%
KLMT Invesco MSCI Global Climate 500 ETF	12.18%	21.31%	4.94%

Correlation

The correlation between PSP and KLMT is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024	0.75

The correlation between PSP and KLMT has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

PSP vs. KLMT - Sectors Allocation Comparison

Sectors	PSP	KLMT
Financial Services	89.5%	16.0%
Industrials	6.9%	10.5%
Consumer Defensive	2.8%	4.8%
Communication Services	1.0%	8.5%
Healthcare	0.3%	8.2%
Consumer Cyclical	0.3%	8.6%
Basic Materials	0.1%	2.7%
Technology	0.1%	33.5%
Energy	-	3.1%
Real Estate	-	2.6%
Utilities	-	1.6%

Return for Risk

PSP vs. KLMT — Risk / Return Rank

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

PSP

PSP Risk / Return Rank: 7
PSP Sharpe Ratio Rank: 7
PSP Sortino Ratio Rank: 7
PSP Omega Ratio Rank: 7
PSP Calmar Ratio Rank: 8
PSP Martin Ratio Rank: 8

KLMT

KLMT Risk / Return Rank: 71
KLMT Sharpe Ratio Rank: 71
KLMT Sortino Ratio Rank: 70
KLMT Omega Ratio Rank: 70
KLMT Calmar Ratio Rank: 67
KLMT Martin Ratio Rank: 77

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.

PSP vs. KLMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Listed Private Equity ETF (PSP) 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.

	PSP	KLMT	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	1.65	-1.92
Sortino ratio: Return per unit of downside risk	-0.24	2.30	-2.54
Omega ratio: Gain probability vs. loss probability	0.97	1.29	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.25	2.36	-2.62
Martin ratio: Return relative to average drawdown	-0.48	9.85	-10.33

PSP vs. KLMT - Sharpe Ratio Comparison

The current PSP Sharpe Ratio is -0.28, which is lower than the KLMT Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of PSP 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

PSP vs. KLMT - Drawdown Comparison

The maximum PSP drawdown since its inception was -85.40%, which is greater than KLMT's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for PSP and KLMT.

Drawdown Indicators

	PSP	KLMT	Difference
Max Drawdown Largest peak-to-trough decline	-85.40%	-16.87%	-68.53%
Max Drawdown (1Y) Largest decline over 1 year	-22.27%	-9.54%	-12.73%
Max Drawdown (3Y) Largest decline over 3 years	-22.94%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.16%	—	—
Current Drawdown Current decline from peak	-10.96%	-0.66%	-10.30%
Average Drawdown Average peak-to-trough decline	-30.57%	-1.87%	-28.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.65%	2.28%	+9.37%

Volatility

PSP vs. KLMT - Volatility Comparison

Invesco Global Listed Private Equity ETF (PSP) has a higher volatility of 5.48% compared to Invesco MSCI Global Climate 500 ETF (KLMT) at 3.88%. This indicates that PSP'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

	PSP	KLMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	3.88%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	16.91%	11.42%	+5.49%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	13.71%	+6.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.92%	15.87%	+8.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.33%	15.87%	+6.46%

PSP vs. KLMT - Expense Ratio Comparison

PSP has a 1.44% expense ratio, which is higher than KLMT's 0.10% expense ratio.

Dividends

PSP vs. KLMT - Dividend Comparison

PSP's dividend yield for the trailing twelve months is around 5.82%, more than KLMT's 1.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KLMT Invesco MSCI Global Climate 500 ETF	1.75%	1.95%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSP Invesco Global Listed Private Equity ETF	5.82%	5.87%	8.62%	3.96%	2.88%	10.34%	4.66%	5.87%	6.81%	10.18%	4.12%	6.23%

Frequently Asked Questions

Can I hold both PSP and KLMT in my portfolio?

PSP and KLMT have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSP or KLMT?

PSP has higher volatility (5.48%) compared to KLMT (3.88%). In terms of maximum drawdown, PSP dropped -85.40% vs KLMT's -16.87%.

Which ETF is better, PSP or KLMT?

On 1-year performance, KLMT leads with 23.90% vs -5.60% for PSP. On fees, KLMT is cheaper at 0.10% per year. On volatility, KLMT has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSP or KLMT?

Over the 1-year period, KLMT has performed better with a 23.90% return vs -5.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSP or KLMT?

KLMT is cheaper with a 0.10% expense ratio, compared with 1.44% for PSP.

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

PSP has the higher dividend yield at 5.82%, compared with 1.75% for KLMT.

What is the main difference between PSP and KLMT?

PSP tracks Red Rocks Global Listed Private Equity Index, while KLMT tracks MSCI ACWI Select Climate 500 Index. Their fees differ too: 1.44% for PSP and 0.10% for KLMT.

Which has better risk-adjusted returns?

KLMT currently has the higher Sharpe Ratio (1.65 vs -0.28), 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.