KLMN vs RAFE: Grades, Fees and Holdings Compared

Invesco MSCI North America Climate ETF

KLMNANYSE Arca

PIMCO RAFI ESG U.S. ETF

RAFEBNYSE Arca

Overlap

47.2%by weight

Expense ratio

KLMN −0.20pt a year

KLMN0.09%RAFE0.29%

Avg volume · 30D

KLMN 39.2×the volume

KLMN489KRAFE12.5K

KLMN vs RAFE Performance

Oct 31, 2025 – Oct 30, 2026

+11.7%KLMN+25.4%RAFE

Expense ratio: KLMN 0.09%, better; RAFE 0.29%
Fund size: KLMN $2.42B; RAFE $169M
1Y total return: KLMN +11.7%; RAFE +25.4%, better
Yield (12M): KLMN 1.17%; RAFE 1.46%, better
Holdings: KLMN 275; RAFE 291
Avg volume (30D): KLMN 489K sh, better; RAFE 12.5K sh
NAV per share: KLMN $31.03; RAFE $51.06
52W range

ETF.net Grade

Pillar letters and Scores for KLMN, RAFE, with each pillar’s weight
Pillar	KLMN	RAFE
Cost30% weight	A86Higher	D39
Mission25% weight	A100Higher	A81
Risk15% weight	B62	A91Higher
Tradability15% weight	A83Higher	D25
Holdings10% weight	B65	A72Higher
Durability5% weight	B58Higher	C53

Rank among US ESG & Values Index funds

How we build Categories ›

Same Category. KLMN and RAFE 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 RAFE 27th 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 27BESGNorthern Trust STOXX US ESG Select ETFScore 59
Rank 27BRAFEPIMCO RAFI ESG U.S. ETFScore 59
Rank 29CNUSCNuveen ESG Small-Cap ETFScore 55

Our read on each fund

ETF.net Research

KLMNAInvesco MSCI North America Climate ETF

RAFEBPIMCO RAFI ESG U.S. ETF

In short

KLMN No data

RAFE Most ESG index funds rescreen a familiar large-cap benchmark and weight it by market value. RAFE runs PIMCO's RAFI rules instead: a long-only, rules-based blend of ESG screening and smart beta, landing on roughly 240 US stocks.

Stated mandate

KLMN No data

RAFE The fund seeks total returns closely corresponding to the RAFI ESG US Index by investing at least 80% of assets in its component securities. The index uses a long-only, rules-based ESG and smart-beta approach.

Why people hold it

KLMN No data

RAFE Different engine from the cap-weighted crowd: the RAFI ESG US Index sets both the screens and the weights by rule, and the fund keeps at least 80% of assets in those index names.
It has tracked its index very closely since launch, which is the core job of any index fund and the main thing you are paying for here.
Roughly 240 stocks is a tighter roster than the 500-name screened index funds that dominate this shelf, so the rules actually show up in the portfolio.
Live since 2019 under a standard 1940 Act fund wrapper, all-US equity, with cash paid out on a quarterly schedule.

Worth knowing

KLMN No data

RAFE The rules cost money: 0.30% a year against a 0.25% cohort median, while cap-weighted ESG rivals like ESGV, XVV and SNPE sit near or below 0.10%.
It is a small, thinly traded fund by category standards, so the spread at the moment you trade matters more than it would in a mega-cap ESG index fund.
The ESG definition is the index provider's, not yours: inclusion follows RAFI ESG US Index rules, so check the methodology against what you actually want screened.

Full KLMN profile⁠

Full RAFE profile⁠

KLMN vs RAFE Holdings

How KLMN and RAFE differ

Overlap by weight

47.2%

Shared holdings make up 81.0% of RAFE and 63.8% of KLMN.

Level by level

Holdings150 in both47.2%
Countryby domicile95.3%
Asset classEquity100%

Sector

No Sector split for KLMN.

Country, concentration and asset class

Country by domicile

Country weights in KLMN and RAFE, widest gap first
Country	More in KLMNMore in RAFE	KLMN	RAFE
United States	RAFE +4.5 points	94.9%	99.4%
Canada	KLMN +4.4 points	4.4%	0.0%
Other countries (5)	KLMN +0.2 points	0.8%	0.6%

Concentration

Weight in the 10 largest Holdings

KLMN34.9%
RAFE28.2%

Securities held

KLMN273
RAFE289

Asset class

KLMN: Equity
RAFE: Equity

Holdings

Only in KLMN123
In both150
Only in RAFE139

Only in KLMN

123 securities, 36.2% of KLMN by weight

Amazon.com Inc3.38%
Alphabet Inc2.63%
Meta Platforms Inc1.99%
Tesla Inc1.64%
Alphabet Inc1.61%
ExxonMobil Holdings Corp1.14%
Walmart Inc0.80%
Chevron Corp0.66%
Palantir Technologies Inc0.63%
Intel Corp0.60%
Philip Morris International Inc0.51%
General Electric Co0.50%
Royal Bank of Canada0.49%
Caterpillar Inc0.47%
RTX Corp0.42%
Crowdstrike Holdings Inc0.40%
Wells Fargo & Co0.40%
Toronto-Dominion Bank/The0.37%
GE Vernova Inc0.37%
ConocoPhillips0.35%
Amphenol Corp0.34%
Shopify Inc0.34%
McDonald's Corp0.32%
Welltower Inc0.31%
Union Pacific Corp0.30%
Eaton Corp PLC0.30%
Wheaton Precious Metals Corp0.26%
Bank of Nova Scotia/The0.25%
Charles Schwab Corp/The0.25%
Bank of Montreal0.24%
NextEra Energy Inc0.24%
Altria Group Inc0.24%
Agnico Eagle Mines Ltd0.24%
Lockheed Martin Corp0.23%
EOG Resources Inc0.23%
Parker-Hannifin Corp0.23%
Vertex Pharmaceuticals Inc0.23%
Capital One Financial Corp0.23%
Freeport-McMoRan Inc0.23%
Snowflake Inc0.22%
Canadian Imperial Bank of Commerce0.22%
Trane Technologies PLC0.21%
CME Group Inc0.21%
Emerson Electric Co0.21%
Enbridge Inc0.21%
Diamondback Energy Inc0.20%
Starbucks Corp0.20%
Boeing Co/The0.20%
CSX Corp0.20%
Uber Technologies Inc0.20%

Only in RAFE

139 securities, 18.7% of RAFE by weight

Moderna Inc Common Stock USD.00011.29%
Humana Inc Common Stock USD.16666660.74%
Centene Corp Common Stock USD.0010.72%
Nucor Corp Common Stock USD.40.59%
Dow Inc Common Stock USD.010.58%
Metlife Inc Common Stock USD.010.51%
Archer Daniels Midland Co Common Stock0.42%
Fedex Corp Common Stock USD.10.35%
Crh PLC Common Stock EUR.320.35%
Best Buy Co Inc Common Stock USD.10.34%
Cognizant Tech Solutions A Common Stock USD.010.33%
Prudential Financial Inc Common Stock USD.010.27%
State Street Corp Common Stock USD1.00.27%
Viatris Inc Common Stock0.27%
Netapp Inc Common Stock USD.0010.26%
Intl Flavors & Fragrances Common Stock USD.1250.22%
Charter Communications Inc A Common Stock USD.0010.22%
Edison International Common Stock0.22%
Kimberly Clark Corp Common Stock USD1.250.22%
Fidelity National Info Serv Common Stock USD.010.21%
Illinois Tool Works Common Stock USD.010.21%
Ferguson Enterprises Inc Common Stock0.20%
Baxter International Inc Common Stock USD1.00.20%
Ge Healthcare Technology Common Stock USD.010.19%
Fiserv Inc Common Stock USD.010.19%
Hartford Insurance Group Inc Common Stock USD.010.19%
Arrow Electronics Inc Common Stock USD1.00.19%
Cf Industries Holdings Inc Common Stock USD.010.18%
Biogen Inc Common Stock USD.00050.17%
Ww Grainger Inc Common Stock USD.50.17%
T Rowe Price Group Inc Common Stock USD.20.16%
Td Synnex Corp Common Stock USD.0010.16%
Principal Financial Group Common Stock USD.010.16%
Ball Corp Common Stock0.16%
Mosaic Co/The Common Stock USD.010.16%
Stanley Black & Decker Inc Common Stock USD2.50.16%
Weyerhaeuser Co Reit USD1.250.15%
Jones Lang Lasalle Inc Common Stock USD.010.15%
On Semiconductor Common Stock USD.010.15%
Northern Trust Corp Common Stock USD1.6666660.15%
Crown Castle Inc Reit USD.010.14%
Illumina Inc Common Stock USD.010.14%
Lyondellbasell Indu Class A Common Stock EUR.040.14%
Cnh Industrial NV Common Stock EUR.010.14%
Wabtec Corp Common Stock USD.010.14%
Omnicom Group Common Stock USD.150.14%
Zoetis Inc Common Stock USD.010.13%
Packaging Corp of America Common Stock USD.010.12%
Republic Services Inc Common Stock USD.010.12%
Wesco International Inc Common Stock USD.010.12%

Weight gaps

The 100 widest of 150 Holdings in both funds.

Holding weights in KLMN and RAFE, widest gap first
Holding	More in KLMNMore in RAFE	KLMN	RAFE
NVIDIA CorpNVDA	KLMN +5.63 points	7.08%	1.45%
UnitedHealth Group IncUNH	RAFE +2.27 points	0.56%	2.83%
Broadcom IncAVGO	KLMN +2.00 points	2.23%	0.23%
Johnson & JohnsonJNJ	RAFE +1.98 points	1.04%	3.03%
Apple IncAAPL	KLMN +1.84 points	7.36%	5.52%
Merck & Co IncMRK	RAFE +1.52 points	0.58%	2.10%
Verizon Communications IncVZ	RAFE +1.47 points	0.32%	1.79%
Procter & Gamble Co/ThePG	RAFE +1.33 points	0.61%	1.94%
AT&T IncT	RAFE +1.29 points	0.26%	1.55%
Citigroup IncC	RAFE +1.11 points	0.35%	1.46%
JPMorgan Chase & CoJPM	RAFE +1.07 points	1.35%	2.42%
Pfizer IncPFE	RAFE +1.06 points	0.32%	1.38%
Eli Lilly & CoLLY	KLMN +0.99 points	1.59%	0.60%
AbbVie IncABBV	RAFE +0.99 points	0.79%	1.78%
Micron Technology IncMU	KLMN +0.93 points	1.54%	0.61%
QUALCOMM IncQCOM	RAFE +0.92 points	0.31%	1.23%
Bristol-Myers Squibb CoBMY	RAFE +0.87 points	0.23%	1.10%
General Motors CoGM	RAFE +0.87 points	0.16%	1.03%
Target CorpTGT	RAFE +0.71 points	0.14%	0.85%
Elevance Health IncANTM	RAFE +0.68 points	0.16%	0.84%
Abbott LaboratoriesABT	RAFE +0.67 points	0.33%	1.00%
International Business Machines CorpIBM	RAFE +0.62 points	0.36%	0.98%
Cigna Group/TheCI	RAFE +0.60 points	0.13%	0.73%
Thermo Fisher Scientific IncTMO	RAFE +0.60 points	0.44%	1.04%
PepsiCo IncPEP	RAFE +0.57 points	0.31%	0.88%
Deere & CoDE	RAFE +0.51 points	0.30%	0.81%
Medtronic PLCMDT	RAFE +0.50 points	0.25%	0.75%
HP IncHPQ	RAFE +0.49 points	0.12%	0.61%
Salesforce IncCRM	RAFE +0.48 points	0.34%	0.82%
Lowe's Cos IncLOW	RAFE +0.47 points	0.19%	0.66%
Bank of America CorpBAC	RAFE +0.47 points	0.53%	1.00%
Linde PLCLIN	RAFE +0.45 points	0.35%	0.80%
Adobe IncADBE	RAFE +0.44 points	0.19%	0.63%
Mondelez International IncMDLZ	RAFE +0.40 points	0.18%	0.58%
Gilead Sciences IncGILD	RAFE +0.38 points	0.35%	0.73%
Regeneron Pharmaceuticals IncREGN	RAFE +0.36 points	0.15%	0.51%
Palo Alto Networks IncPANW	KLMN +0.36 points	0.50%	0.14%
Ford Motor CoF	RAFE +0.35 points	0.12%	0.47%
Walt Disney Co/TheDIS	RAFE +0.33 points	0.34%	0.67%
Texas Instruments IncTXN	RAFE +0.32 points	0.44%	0.76%
Bank of New York Mellon Corp/TheBNY	RAFE +0.33 points	0.21%	0.54%
3M CoMMM	RAFE +0.32 points	0.20%	0.52%
PayPal Holdings IncPYPL	RAFE +0.31 points	0.12%	0.43%
eBay IncEBAY	RAFE +0.30 points	0.11%	0.41%
Amgen IncAMGN	RAFE +0.29 points	0.43%	0.72%
Arista Networks IncANET	KLMN +0.28 points	0.34%	0.06%
Home Depot Inc/TheHD	RAFE +0.27 points	0.54%	0.81%
Coca-Cola Co/TheKO	KLMN +0.28 points	0.62%	0.34%
CVS Health CorpCVS	RAFE +0.27 points	0.20%	0.47%
Morgan StanleyMS	RAFE +0.26 points	0.37%	0.63%
Kraft Heinz Co/TheKHC	RAFE +0.24 points	0.12%	0.36%
Comcast CorpCMCSA	RAFE +0.23 points	0.17%	0.40%
Advanced Micro Devices IncAMD	KLMN +0.23 points	1.37%	1.14%
Netflix IncNFLX	KLMN +0.23 points	0.39%	0.16%
Oracle CorpORCL	KLMN +0.23 points	0.36%	0.13%
Danaher CorpDHR	RAFE +0.22 points	0.25%	0.47%
Intuitive Surgical IncISRG	KLMN +0.21 points	0.24%	0.03%
Applied Materials IncAMAT	RAFE +0.20 points	0.56%	0.76%
S&P Global IncSPGI	RAFE +0.20 points	0.27%	0.47%
Analog Devices IncADI	RAFE +0.20 points	0.36%	0.56%
Blackrock IncBLK	KLMN +0.18 points	0.30%	0.12%
Exelon CorpEXC	RAFE +0.18 points	0.15%	0.33%
Costco Wholesale CorpCOST	KLMN +0.18 points	0.65%	0.47%
Allstate Corp/TheALL	RAFE +0.17 points	0.14%	0.31%
Western Digital CorpWDC	KLMN +0.17 points	0.23%	0.06%
Microsoft CorpMSFT	KLMN +0.15 points	5.39%	5.24%
AMETEK IncAME	KLMN +0.15 points	0.17%	0.02%
Aflac IncAFL	RAFE +0.14 points	0.13%	0.27%
T-Mobile US IncTMUS	RAFE +0.14 points	0.14%	0.28%
General Mills IncGIS	RAFE +0.14 points	0.10%	0.24%
Automatic Data Processing IncADP	RAFE +0.13 points	0.26%	0.39%
Travelers Cos Inc/TheTRV	RAFE +0.13 points	0.18%	0.31%
Cadence Design Systems IncCDNS	KLMN +0.13 points	0.17%	0.04%
Colgate-Palmolive CoCL	RAFE +0.13 points	0.18%	0.31%
Hewlett Packard Enterprise CoHPE	RAFE +0.12 points	0.18%	0.30%
Accenture PLCACN	RAFE +0.12 points	0.28%	0.40%
Cisco Systems IncCSCO	KLMN +0.12 points	0.68%	0.56%
ServiceNow IncNOW	KLMN +0.12 points	0.23%	0.11%
Lam Research CorpLRCX	KLMN +0.12 points	0.52%	0.40%
Johnson Controls International plcJCI	RAFE +0.11 points	0.22%	0.33%
McKesson CorpMCK	KLMN +0.12 points	0.23%	0.11%
Boston Scientific CorpBSX	KLMN +0.12 points	0.14%	0.02%
Booking Holdings IncBKNG	KLMN +0.11 points	0.20%	0.09%
Progressive Corp/ThePGR	RAFE +0.11 points	0.23%	0.34%
KLA CorpKLAC	KLMN +0.11 points	0.38%	0.27%
Dell Technologies IncDELL	RAFE +0.11 points	0.27%	0.38%
CBRE Group IncCBRE	RAFE +0.11 points	0.10%	0.21%
Ingersoll Rand IncIR	KLMN +0.11 points	0.15%	0.04%
NIKE IncNKE	RAFE +0.10 points	0.10%	0.20%
Kenvue IncKVUE	RAFE +0.10 points	0.10%	0.20%
Dover CorpDOV	KLMN +0.08 points	0.17%	0.09%
Goldman Sachs Group Inc/TheGS	KLMN +0.08 points	0.44%	0.36%
Cummins IncCMI	RAFE +0.08 points	0.17%	0.25%
TJX Cos Inc/TheTJX	RAFE +0.08 points	0.24%	0.32%
TE Connectivity PLCTEL	RAFE +0.08 points	0.16%	0.24%
Edwards Lifesciences CorpEW	KLMN +0.08 points	0.13%	0.05%
Waste Management IncWM	KLMN +0.08 points	0.15%	0.07%
Nasdaq IncNDAQ	KLMN +0.08 points	0.16%	0.08%
Prologis IncPLD	RAFE +0.07 points	0.24%	0.31%
Hilton Worldwide Holdings IncHLT	KLMN +0.07 points	0.17%	0.10%

All 273 KLMN holdings⁠All 239 RAFE 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 RAFE Cost

Overpaying RAFE vs KLMN

$4,054

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

KLMN 0.09%
$1,898
RAFE 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

KLMN 0.09%
RAFE 0.29%
Overpaying

Year by year

Year	KLMN	RAFE	Overpaying
10	$165	$527	$362
20	$646	$2,044	$1,398
30	$1,898	$5,952	$4,054

Expense ratio

0.09%KLMN, cheaper
0.29%RAFE

KLMN0.09%RAFE0.29%

0.08%0.95%

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

KLMN 3rd cheapest of 47 funds

RAFE 28th cheapest of 47 funds

KLMN vs RAFE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): KLMN 1.17%; RAFE 1.46%, better
Payout (12M): KLMN $0.36; RAFE $0.74
Last payment: KLMN $0.08; RAFE $0.19
Ex-dividend: KLMN Sep 21, 2026; RAFE Oct 1, 2026
Paid on: KLMN Sep 25, 2026; RAFE Oct 5, 2026
Frequency: KLMN Quarterly; RAFE Quarterly

Distribution history

Per share, 2019 to 2026, same scale for both

KLMNQuarterly · 7 paymentsAll KLMN payments⁠

RAFEQuarterly · 28 paymentsAll RAFE payments⁠

KLMN vs RAFE 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 2025RAFE 11.6%
Return per unit of riskSharpe ratio, 3 years: KLMN 0.83since Jan 2025RAFE 1.50
Worst fallMax drawdown, 5 years: KLMN −18.5%since Dec 2024RAFE −24.3%
Market sensitivityBeta, 5 years: KLMN 1.02RAFE 0.88; Market = 1

Popular comparisons

KLMNAvsEFIVA
Invesco MSCI North America Climate ETF · State Street SPDR S&P 500 ESG ETF
Expense ratio
0.09% · 0.10%
Category
RAFEBvsEFIVA
PIMCO RAFI ESG U.S. ETF · State Street SPDR S&P 500 ESG ETF
Expense ratio
0.29% · 0.10%
Category
KLMNAvsSNPEA
Invesco MSCI North America Climate ETF · Xtrackers S&P 500 Scored & Screened ETF
Expense ratio
0.09% · 0.10%
Category
RAFEBvsSNPEA
PIMCO RAFI ESG U.S. ETF · Xtrackers S&P 500 Scored & Screened ETF
Expense ratio
0.29% · 0.10%
Category
KLMNAvsESGUA
Invesco MSCI North America Climate ETF · iShares ESG Aware MSCI USA ETF
Expense ratio
0.09% · 0.15%
Category
RAFEBvsESGUA
PIMCO RAFI ESG U.S. ETF · iShares ESG Aware MSCI USA ETF
Expense ratio
0.29% · 0.15%
Category