KLMN vs SPY
Invesco MSCI North America Climate ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KLMN or SPY?
Each has led over a different period.
KLMN led over 1Y, SPY over the full window. The two have moved almost in lockstep, correlation 1.00. KLMN is less concentrated, with 35.5% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | KLMN | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $2.5B | $811.2B |
| Dividend Yield | 1.17% | 0.98% |
| Holdings | 555 | 1,515 |
| YTD Return | +13.63%Best | +13.54% |
| 1Y Return | +16.58%Best | +16.25% |
| 3Y Return (annualized) | - | +23.72% |
| 5Y Return (annualized) | - | +13.95% |
| Volatility (annualized) | 12.5% | 12.3%Best |
| Max Drawdown | -19.2% | -18.8%Best |
| $10,000 over 1.8 years | $12,943 | $12,949Best |
| Top 10 Weight | 35.5%Best | 38.2% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 11, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 11, 2024 to Oct 2, 2026 (1.8 years).
KLMN vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.8 years both funds cover.
KLMN vs SPY Performance
Invesco MSCI North America Climate ETF (KLMN) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KLMN returned +16.58% while SPY returned +16.25%. Year to date, KLMN is up 13.63% versus a gain of 13.54% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KLMN has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 12.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.2% for KLMN and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
KLMN charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, KLMN currently yields 1.17% against 0.98% for SPY.
Holdings Overlap
94.0% of KLMN's money is in holdings SPY also owns. 87.1% of SPY's money is in holdings KLMN also owns.
Most of KLMN is already inside SPY. Owning both mostly buys the same companies twice.
239 positions in common, counted across the 273 positions we hold weights for in KLMN and 504 in SPY, against full books of 555 and 1,515.
What only one of them owns
Our book lists 259 positions for SPY that do not appear in our book for KLMN (12.2% of the fund), and 10 for KLMN that do not appear in SPY (1.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in KLMN | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.27% | 7.78% | 0.51% |
| AAPLApple, Inc | 7.03% | 7.45% | 0.42% |
| MSFTMicrosoft Corp | 5.06% | 5.71% | 0.65% |
| AMZNAmazon.Com Inc | 3.58% | 3.78% | 0.20% |
| GOOGLAlphabet Inc,class A | 3.15% | 3.12% | 0.03% |
| AVGOBroadcom Inc | 2.35% | 2.48% | 0.13% |
| GOOGAlphabet Inc. C | 1.93% | 2.49% | 0.56% |
| METAMeta Platforms Inc | 2.07% | 2.22% | 0.15% |
| MUMicron Technology, Inc. | 1.61% | 1.59% | 0.02% |
| TSLATesla Inc | 1.49% | 1.54% | 0.05% |
94.0% of KLMN is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, KLMN or SPY?
KLMN has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, KLMN or SPY?
Over the past year KLMN returned +16.58% vs +16.25% for SPY, so KLMN leads on 1-year performance. Over the longest common window we track (2 years), KLMN annualized +15.41% vs +15.44% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KLMN or SPY?
KLMN has been the more volatile fund at 12.5% annualized versus 12.3% for SPY. Worst drawdown: KLMN -19.2% vs SPY -18.8%.
Should I hold both KLMN and SPY?
KLMN and SPY have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between KLMN and SPY?
94.0% of KLMN's money is in holdings SPY also owns. 87.1% of SPY's is in holdings KLMN also owns. They hold 239 positions in common, counted across the 273 positions we hold weights for in KLMN and 504 in SPY.
Which pays a higher dividend, KLMN or SPY?
KLMN yields 1.17% while SPY yields 0.98%, so KLMN currently pays the higher dividend yield.
Is SPY better than KLMN?
KLMN led over 1Y, SPY over the full window. The two have moved almost in lockstep, correlation 1.00. KLMN is less concentrated, with 35.5% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.