KLMT vs SPY
Invesco MSCI Global Climate 500 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. KLMT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | KLMT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.10% | 0.09% | |
| AUM | $1.5B | $789.1B | |
| Dividend Yield | 1.76% | 1.01% | |
| Holdings | 518 | 505 | |
| YTD Return | +15.05% | +13.79% | |
| 1Y Return | +25.21% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 11.1% | 15.3% | |
| Max Drawdown | -16.9% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 26, 2024 | Jan 22, 1993 |
KLMT vs SPY Performance
Invesco MSCI Global Climate 500 ETF (KLMT) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KLMT returned +25.21% while SPY returned +23.66%. Year to date, KLMT is up 15.05% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.1% for KLMT. 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 -16.9% for KLMT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
KLMT charges 0.10% per year while SPY charges 0.09%. On a $10,000 position that is $10 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, KLMT currently yields 1.76% against 1.01% for SPY.
Holdings Overlap
KLMT and SPY share 238 holdings out of 762 unique holdings combined, representing a 60.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, KLMT or SPY?
KLMT has an expense ratio of 0.10% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, KLMT or SPY?
Over the past year KLMT returned +25.21% vs +23.66% for SPY, so KLMT leads on 1-year performance. Over the longest common window we track (2 years), KLMT annualized +19.75% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, KLMT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.1% for KLMT. Worst drawdown: KLMT -16.9% vs SPY -56.5%.
Should I hold both KLMT and SPY?
KLMT and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between KLMT and SPY?
KLMT and SPY share 238 common holdings with a 60.2% weight overlap. Combined, they hold 762 unique securities.
Which pays a higher dividend, KLMT or SPY?
KLMT yields 1.76% while SPY yields 1.01%, so KLMT currently pays the higher dividend yield.
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