AQLT vs. NZAC
AQLT (iShares MSCI Global Quality Factor ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - AQLT tracks the MSCI ACWI Quality Index (Net) while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past year, AQLT returned 29.00% vs 24.74% for NZAC. Their correlation of 0.93 suggests significant overlap in exposure. AQLT charges 0.20%/yr vs 0.12%/yr for NZAC.
Performance
AQLT vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, AQLT achieves a 12.40% return, which is significantly higher than NZAC's 8.83% return.
AQLT
- 1D
- -0.37%
- 1M
- 4.34%
- YTD
- 12.40%
- 6M
- 12.67%
- 1Y
- 29.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NZAC
- 1D
- -0.82%
- 1M
- 4.49%
- YTD
- 8.83%
- 6M
- 9.51%
- 1Y
- 24.74%
- 3Y*
- 19.06%
- 5Y*
- 9.88%
- 10Y*
- 12.16%
AQLT vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AQLT iShares MSCI Global Quality Factor ETF | 12.40% | 17.65% | -3.14% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 8.83% | 20.55% | -3.54% |
Correlation
The correlation between AQLT and NZAC is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024 | 0.93 |
The correlation between AQLT and NZAC has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
AQLT vs. NZAC — Risk / Return Rank
AQLT
NZAC
AQLT vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Quality Factor ETF (AQLT) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). 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.
| AQLT | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 2.46 | +0.27 |
| Martin ratioReturn relative to average drawdown | 12.25 | 10.68 | +1.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AQLT | NZAC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 1.92 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.71 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.61 | +0.48 |
Drawdowns
AQLT vs. NZAC - Drawdown Comparison
The maximum AQLT drawdown since its inception was -16.84%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for AQLT and NZAC.
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Drawdown Indicators
| AQLT | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.84% | -33.72% | +16.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -10.10% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.19% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.82% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -5.32% | +3.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.32% | +0.05% |
Volatility
AQLT vs. NZAC - Volatility Comparison
iShares MSCI Global Quality Factor ETF (AQLT) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) have volatilities of 3.54% and 3.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AQLT | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 3.72% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 10.34% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.39% | 12.94% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 16.81% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 17.14% | -0.15% |
AQLT vs. NZAC - Expense Ratio Comparison
AQLT has a 0.20% expense ratio, which is higher than NZAC's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AQLT vs. NZAC - Dividend Comparison
AQLT's dividend yield for the trailing twelve months is around 0.93%, less than NZAC's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AQLT iShares MSCI Global Quality Factor ETF | 0.93% | 1.05% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.04% | 1.90% | 1.88% | 1.65% | 1.81% | 1.62% | 1.59% | 2.17% | 2.53% | 2.20% | 2.00% | 2.40% |
Frequently Asked Questions
With a correlation of 0.94, AQLT and NZAC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NZAC has higher volatility (3.72%) compared to AQLT (3.54%). In terms of maximum drawdown, AQLT dropped -16.84% vs NZAC's -33.72%.
On 1-year performance, AQLT leads with 29.00% vs 24.74% for NZAC. On fees, NZAC is cheaper at 0.12% per year. On volatility, AQLT has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AQLT has performed better with a 29.00% return vs 24.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NZAC is cheaper with a 0.12% expense ratio, compared with 0.20% for AQLT.
NZAC has the higher dividend yield at 2.04%, compared with 0.93% for AQLT.
AQLT tracks MSCI ACWI Quality Index (Net), while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for AQLT and 0.12% for NZAC.
AQLT currently has the higher Sharpe Ratio (2.18 vs 1.92), 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.
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