KLMN vs NACP: Grades, Fees and Holdings Compared

Invesco MSCI North America Climate ETF

KLMNANYSE Arca

Impact Shares NAACP Minority Empowerment ETF

NACPCNYSE Arca

Overlap

54.8%by weight

Expense ratio

KLMN −0.40pt a year

KLMN0.09%NACP0.49%

Avg volume · 30D

KLMN 201.1×the volume

KLMN489KNACP2.43K

KLMN vs NACP Performance

Oct 31, 2025 – Nov 2, 2026

+11.2%KLMN+19.2%NACP

Expense ratio: KLMN 0.09%, better; NACP 0.49%
Fund size: KLMN $2.42B; NACP $74M
1Y total return: KLMN +11.2%; NACP +19.2%, better
Yield (12M): KLMN 1.17%, better; NACP 0.57%
Holdings: KLMN 275; NACP 201
Avg volume (30D): KLMN 489K sh, better; NACP 2.43K sh
NAV per share: KLMN $31.03; NACP $59.25
52W range

ETF.net Grade

Pillar letters and Scores for KLMN, NACP, with each pillar’s weight
Pillar	KLMN	NACP
Cost30% weight	A86Higher	F17
Mission25% weight	A100Higher	A86
Risk15% weight	B62Higher	C53
Tradability15% weight	A84Higher	F15
Holdings10% weight	B65Higher	B58
Durability5% weight	B58Higher	C42

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. KLMN and NACP are both graded against the same 47 US ESG & Values Index funds, so their Grades compare head to head.

US ESG & Values Index⁠

Category · 47 funds

See all 47 ›

KLMN ranks 1st and NACP 39th of 47 funds in the US ESG & Values Index Category.

Rank 1AKLMNInvesco MSCI North America Climate ETFScore 82
Rank 2AEFIVState Street SPDR S&P 500 ESG ETFScore 79
Rank 39CISMDInspire Small/Mid Cap ETFScore 44
Rank 39CNACPImpact Shares NAACP Minority Empowerment ETFScore 44
Rank 39CNUMGNuveen ESG Mid-Cap GrowthScore 44

Our read on each fund

ETF.net Research

KLMNAInvesco MSCI North America Climate ETF

NACPCImpact Shares NAACP Minority Empowerment ETF

In short

KLMN No data

NACP The NAACP's name is on the door. NACP tracks the Morningstar Minority Empowerment Index and holds about 50 US stocks, a much narrower cut than the broad ESG index funds it sits beside.

Stated mandate

KLMN No data

NACP Before fees and expenses, the Fund seeks to track the Morningstar Minority Empowerment Index. It normally invests at least 80% of assets plus investment borrowings in securities included in that index.

Why people hold it

KLMN No data

NACP One screen, stated up front: the Morningstar Minority Empowerment Index. Not a general-purpose ESG blend with a theme bolted on.
Does what the label says. At least 80% of assets sit in index securities, run passively, and the holdings line up closely with the mission it advertises.
About 50 US names, so the screen actually shows up in the portfolio instead of getting diluted across a whole market-cap index.
Trading since 2018 and paying quarterly, so there's a multi-year operating record behind the theme.

Worth knowing

KLMN No data

NACP Costs 0.49% a year, roughly double the ESG cohort median of 0.25% and well above broad screens like ESGV (0.09%) or ESGU (0.15%).
Thinly traded. Spreads can run wider than in the category's heavyweights, and bigger orders take more care to fill.
A roughly 50-stock portfolio swings with individual names and sectors more than a broad ESG index fund holding the whole market.

Full KLMN profile⁠

Full NACP profile⁠

KLMN vs NACP Holdings

How KLMN and NACP differ

Overlap by weight

54.8%

Shared holdings make up 92.0% of NACP and 58.2% of KLMN.

Level by level

Holdings123 in both54.8%
Countryby domicile95.0%
Asset classEquity100%

Sector

No Sector split for KLMN.

Country, concentration and asset class

Country by domicile

Country weights in KLMN and NACP, widest gap first
Country	More in KLMNMore in NACP	KLMN	NACP
United States	NACP +4.9 points	94.9%	99.8%
Canada	KLMN +4.4 points	4.4%	0.0%
Other countries (5)	KLMN +0.6 points	0.8%	0.2%

Concentration

Weight in the 10 largest Holdings

KLMN34.8%
NACP37.6%

Securities held

KLMN273
NACP200

Asset class

KLMN: Equity
NACP: Equity

Holdings

Only in KLMN150
In both123
Only in NACP77

Only in KLMN

150 securities, 41.7% of KLMN by weight

Apple Inc7.40%
Broadcom Inc2.15%
Eli Lilly & Co1.67%
Alphabet Inc1.62%
Costco Wholesale Corp0.67%
Procter & Gamble Co/The0.63%
Palantir Technologies Inc0.60%
Home Depot Inc/The0.55%
Philip Morris International Inc0.52%
Royal Bank of Canada0.49%
Caterpillar Inc0.46%
Amgen Inc0.44%
Goldman Sachs Group Inc/The0.44%
RTX Corp0.43%
Netflix Inc0.40%
Wells Fargo & Co0.40%
Crowdstrike Holdings Inc0.39%
Toronto-Dominion Bank/The0.37%
Linde PLC0.36%
Walt Disney Co/The0.35%
Amphenol Corp0.34%
McDonald's Corp0.33%
Shopify Inc0.33%
American Express Co0.32%
Arista Networks Inc0.31%
Blackrock Inc0.30%
Marvell Technology Inc0.28%
Automatic Data Processing Inc0.27%
Vivmark Residential0.26%
Bank of Nova Scotia/The0.25%
Marsh & McLennan Cos Inc0.25%
Wheaton Precious Metals Corp0.25%
Dell Technologies Inc0.25%
TJX Cos Inc/The0.25%
Altria Group Inc0.25%
Chubb Ltd0.24%
Vertex Pharmaceuticals Inc0.24%
EOG Resources Inc0.24%
Bank of Montreal0.24%
Intuitive Surgical Inc0.24%
Seagate Technology Holdings PLC0.24%
Lockheed Martin Corp0.24%
McKesson Corp0.23%
Parker-Hannifin Corp0.23%
Capital One Financial Corp0.23%
Agnico Eagle Mines Ltd0.23%
Canadian Imperial Bank of Commerce0.22%
ServiceNow Inc0.22%
CME Group Inc0.22%
Western Digital Corp0.22%

Only in NACP

77 securities, 8.0% of NACP by weight

Marathon Petroleum Corp0.32%
Valero Energy Corp0.29%
Phillips 660.29%
Southern Co/The0.28%
Duke Energy Corp0.26%
Elevance Health Inc0.22%
United Parcel Service Inc0.22%
Microchip Technology Inc0.22%
Illinois Tool Works Inc0.21%
First American Government Obligations Fund 12/01/20310.21%
FedEx Corp0.19%
American Electric Power Co Inc0.18%
Kinder Morgan Inc0.18%
Crh PLC0.16%
Cognizant Technology Solutions Corp0.16%
Dominion Energy Inc0.15%
Becton Dickinson & Co0.14%
MetLife Inc0.14%
Delta Air Lines Inc0.13%
Entergy Corp0.13%
Xcel Energy Inc0.13%
Fifth Third Bancorp0.13%
Rockwell Automation Inc0.13%
Humana Inc0.13%
Vistra Corp0.11%
WEC Energy Group Inc0.10%
Kroger Co/The0.10%
Public Service Enterprise Group Inc0.10%
Biogen Inc0.10%
Vulcan Materials Co0.10%
Illumina Inc0.09%
ResMed Inc0.09%
First Solar Inc0.09%
Zoetis Inc0.09%
Archer-Daniels-Midland Co0.09%
Martin Marietta Materials Inc0.09%
United Airlines Holdings Inc0.09%
M&T Bank Corp0.08%
Labcorp Holdings Inc0.08%
Huntington Bancshares Inc/OH0.08%
Halliburton Co0.08%
Gartner Inc0.08%
DTE Energy Co0.07%
PG&E Corp0.07%
Expeditors International of Washington Inc0.07%
Eversource Energy0.07%
FirstEnergy Corp0.07%
PPL Corp0.07%
International Flavors & Fragrances Inc0.06%
Synchrony Financial0.06%

Weight gaps

The 100 widest of 123 Holdings in both funds.

Holding weights in KLMN and NACP, widest gap first
Holding	More in KLMNMore in NACP	KLMN	NACP
Advanced Micro Devices IncAMD	NACP +2.98 points	1.24%	4.22%
Tesla IncTSLA	NACP +2.68 points	1.65%	4.33%
NVIDIA CorpNVDA	KLMN +2.39 points	6.91%	4.52%
Micron Technology IncMU	NACP +2.05 points	1.49%	3.54%
Cisco Systems IncCSCO	NACP +1.51 points	0.66%	2.17%
Amazon.com IncAMZN	NACP +1.33 points	3.40%	4.73%
Meta Platforms IncMETA	NACP +1.32 points	2.00%	3.32%
Palo Alto Networks IncPANW	NACP +1.29 points	0.49%	1.78%
Applied Materials IncAMAT	NACP +1.09 points	0.53%	1.62%
Intel CorpINTC	NACP +1.05 points	0.43%	1.48%
Lam Research CorpLRCX	NACP +1.02 points	0.50%	1.52%
Texas Instruments IncTXN	NACP +1.01 points	0.43%	1.44%
JPMorgan Chase & CoJPM	NACP +0.99 points	1.35%	2.34%
International Business Machines CorpIBM	NACP +0.89 points	0.37%	1.26%
Alphabet IncGOOGL	NACP +0.88 points	2.64%	3.52%
ExxonMobil Holdings CorpXOM	NACP +0.86 points	1.19%	2.05%
Visa IncV	NACP +0.78 points	1.10%	1.88%
Oracle CorpORCL	NACP +0.75 points	0.34%	1.09%
Analog Devices IncADI	NACP +0.71 points	0.35%	1.06%
KLA CorpKLAC	NACP +0.65 points	0.36%	1.01%
QUALCOMM IncQCOM	NACP +0.64 points	0.28%	0.92%
Johnson & JohnsonJNJ	NACP +0.62 points	1.06%	1.68%
Salesforce IncCRM	NACP +0.59 points	0.35%	0.94%
Walmart IncWMT	NACP +0.57 points	0.83%	1.40%
AbbVie IncABBV	NACP +0.56 points	0.81%	1.37%
Accenture PLCACN	NACP +0.54 points	0.30%	0.84%
Mastercard IncMA	NACP +0.54 points	0.84%	1.38%
Uber Technologies IncUBER	NACP +0.47 points	0.20%	0.67%
Chevron CorpCVX	NACP +0.46 points	0.69%	1.15%
Microsoft CorpMSFT	KLMN +0.46 points	5.41%	4.95%
UnitedHealth Group IncUNH	NACP +0.38 points	0.56%	0.94%
Merck & Co IncMRK	NACP +0.36 points	0.60%	0.96%
Coca-Cola Co/TheKO	NACP +0.34 points	0.64%	0.98%
General Electric CoGE	NACP +0.33 points	0.49%	0.82%
Bank of America CorpBAC	NACP +0.31 points	0.53%	0.84%
Lowe's Cos IncLOW	NACP +0.24 points	0.19%	0.43%
Thermo Fisher Scientific IncTMO	NACP +0.24 points	0.44%	0.68%
Hewlett Packard Enterprise CoHPE	NACP +0.21 points	0.17%	0.38%
GE Vernova IncGEV	NACP +0.22 points	0.36%	0.58%
NextEra Energy IncNEE	NACP +0.20 points	0.25%	0.45%
Morgan StanleyMS	NACP +0.20 points	0.37%	0.57%
Ciena CorpCIEN	NACP +0.19 points	0.09%	0.28%
Union Pacific CorpUNP	NACP +0.18 points	0.31%	0.49%
PepsiCo IncPEP	NACP +0.18 points	0.32%	0.50%
NXP Semiconductors NVNXPI	NACP +0.18 points	0.14%	0.32%
Gilead Sciences IncGILD	NACP +0.17 points	0.37%	0.54%
Marriott International Inc/MDMAR	NACP +0.17 points	0.15%	0.32%
Royal Caribbean Cruises LtdRCL	NACP +0.17 points	0.12%	0.29%
Citigroup IncC	NACP +0.17 points	0.35%	0.52%
Verizon Communications IncVZ	NACP +0.16 points	0.33%	0.49%
Danaher CorpDHR	NACP +0.15 points	0.25%	0.40%
Abbott LaboratoriesABT	NACP +0.15 points	0.34%	0.49%
Boeing Co/TheBA	NACP +0.15 points	0.20%	0.35%
Stryker CorpSYK	NACP +0.14 points	0.16%	0.30%
Charles Schwab Corp/TheSCHW	NACP +0.13 points	0.25%	0.38%
AT&T IncT	NACP +0.12 points	0.27%	0.39%
Welltower IncWELL	NACP +0.13 points	0.32%	0.45%
Pfizer IncPFE	NACP +0.12 points	0.34%	0.46%
Keysight Technologies IncKEYS	NACP +0.12 points	0.15%	0.27%
Hilton Worldwide Holdings IncHLT	NACP +0.11 points	0.18%	0.29%
Progressive Corp/ThePGR	NACP +0.11 points	0.24%	0.35%
ConocoPhillipsCOP	NACP +0.11 points	0.37%	0.48%
General Motors CoGM	NACP +0.11 points	0.17%	0.28%
Deere & CoDE	NACP +0.11 points	0.31%	0.42%
Bristol-Myers Squibb CoBMY	NACP +0.10 points	0.24%	0.34%
PPG Industries IncPPG	KLMN +0.10 points	0.17%	0.07%
CVS Health CorpCVS	NACP +0.10 points	0.20%	0.30%
Eaton Corp PLCETN	NACP +0.09 points	0.28%	0.37%
Williams Cos Inc/TheWMB	NACP +0.09 points	0.15%	0.24%
Prologis IncPLD	NACP +0.09 points	0.24%	0.33%
eBay IncEBAY	NACP +0.09 points	0.11%	0.20%
S&P Global IncSPGI	NACP +0.08 points	0.28%	0.36%
Equinix IncEQIX	NACP +0.08 points	0.19%	0.27%
Flex LtdFLEX	NACP +0.08 points	0.08%	0.16%
NIKE IncNKE	NACP +0.07 points	0.10%	0.17%
Northrop Grumman CorpNOC	NACP +0.07 points	0.15%	0.22%
Ingersoll Rand IncIR	KLMN +0.07 points	0.15%	0.08%
PNC Financial Services Group Inc/ThePNC	NACP +0.06 points	0.17%	0.23%
Cigna Group/TheCI	NACP +0.07 points	0.13%	0.20%
DuPont de Nemours IncDD	KLMN +0.06 points	0.11%	0.05%
Medtronic PLCMDT	NACP +0.06 points	0.25%	0.31%
CSX CorpCSX	NACP +0.06 points	0.20%	0.26%
Cintas CorpCTAS	NACP +0.06 points	0.14%	0.20%
Howmet Aerospace IncHWM	NACP +0.06 points	0.14%	0.20%
Otis Worldwide CorpOTIS	KLMN +0.05 points	0.13%	0.08%
Honeywell International IncHON	NACP +0.05 points	0.14%	0.19%
United Rentals IncURI	NACP +0.05 points	0.15%	0.20%
Ford Motor CoF	NACP +0.05 points	0.12%	0.17%
Bank of New York Mellon Corp/TheBNY	NACP +0.05 points	0.21%	0.26%
Xylem Inc/NYXYL	KLMN +0.05 points	0.11%	0.06%
Newmont CorpNEM	NACP +0.04 points	0.25%	0.29%
3M CoMMM	NACP +0.04 points	0.20%	0.24%
Norfolk Southern CorpNSC	NACP +0.04 points	0.17%	0.21%
Emerson Electric CoEMR	NACP +0.03 points	0.21%	0.24%
Travelers Cos Inc/TheTRV	NACP +0.04 points	0.18%	0.22%
Nasdaq IncNDAQ	KLMN +0.03 points	0.16%	0.13%
Mondelez International IncMDLZ	NACP +0.03 points	0.19%	0.22%
Ecolab IncECL	KLMN +0.04 points	0.24%	0.20%
Consolidated Edison IncED	KLMN +0.04 points	0.15%	0.11%
Trane Technologies PLCTT	NACP +0.04 points	0.20%	0.24%

All 273 KLMN holdings⁠All NACP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

KLMN vs NACP Cost

Overpaying NACP vs KLMN

$7,894

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

KLMN 0.09%
$1,898
NACP 0.49%
$9,792

Amount$10,000

Years30 years

Cost over time

KLMN 0.09%
NACP 0.49%
Overpaying

Year by year

Year	KLMN	NACP	Overpaying
10	$165	$883	$718
20	$646	$3,394	$2,748
30	$1,898	$9,792	$7,894

Expense ratio

0.09%KLMN, cheaper
0.49%NACP

KLMN0.09%NACP0.49%

0.08%0.95%

Middle half of US ESG & Values Index funds
Median 0.25%

KLMN 3rd cheapest of 47 funds

NACP 38th cheapest of 47 funds

KLMN vs NACP Dividends

Last 12 months to Nov 2, 2026

Yield (12M): KLMN 1.17%, better; NACP 0.57%
Payout (12M): KLMN $0.36; NACP $0.33
Last payment: KLMN $0.08; NACP $0.10
Ex-dividend: KLMN Sep 21, 2026; NACP Sep 29, 2026
Paid on: KLMN Sep 25, 2026; NACP Sep 30, 2026
Frequency: KLMN Quarterly; NACP Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

KLMNQuarterly · 7 paymentsAll KLMN payments⁠

NACPQuarterly · 32 paymentsAll NACP payments⁠

KLMN vs NACP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: KLMN 12.5%since Jan 2025NACP 14.7%
Return per unit of riskSharpe ratio, 3 years: KLMN 0.83since Jan 2025NACP 1.44
Worst fallMax drawdown, 5 years: KLMN −18.5%since Dec 2024NACP −27.9%
Market sensitivityBeta, 5 years: KLMN 1.02NACP 1.08; Market = 1

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