AZTD vs. NZAC
AZTD (Aztlan Global Stock Selection Dm SMID ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - AZTD tracks the Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 3 years, AZTD returned 16.98%/yr vs 17.67%/yr for NZAC. Their correlation of 0.81 suggests significant overlap in exposure. AZTD charges 0.75%/yr vs 0.12%/yr for NZAC.
Performance
AZTD vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, AZTD achieves a 13.64% return, which is significantly higher than NZAC's 5.64% return.
AZTD
- 1D
- 0.02%
- 1M
- 1.90%
- YTD
- 13.64%
- 6M
- 11.58%
- 1Y
- 22.26%
- 3Y*
- 16.98%
- 5Y*
- —
- 10Y*
- —
NZAC
- 1D
- -0.35%
- 1M
- -1.61%
- YTD
- 5.64%
- 6M
- 4.67%
- 1Y
- 18.44%
- 3Y*
- 17.67%
- 5Y*
- 9.09%
- 10Y*
- 12.14%
AZTD vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AZTD Aztlan Global Stock Selection Dm SMID ETF | 13.64% | 25.46% | 6.87% | 10.34% | -1.79% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 5.64% | 20.55% | 16.67% | 23.22% | -8.42% |
Correlation
The correlation between AZTD and NZAC is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022 | 0.81 |
The correlation between AZTD and NZAC has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
AZTD vs. NZAC — Risk / Return Rank
AZTD
NZAC
AZTD vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aztlan Global Stock Selection Dm SMID ETF (AZTD) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AZTD | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.83 | +0.17 |
| Martin ratioReturn relative to average drawdown | 6.50 | 7.66 | -1.17 |
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Drawdowns
AZTD vs. NZAC - Drawdown Comparison
The maximum AZTD drawdown since its inception was -16.75%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for AZTD and NZAC.
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Drawdown Indicators
| AZTD | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.75% | -33.72% | +16.97% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -10.10% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.75% | -16.19% | -0.56% |
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 | -2.13% | -3.72% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -5.31% | +1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 2.41% | +1.03% |
Volatility
AZTD vs. NZAC - Volatility Comparison
The current volatility for Aztlan Global Stock Selection Dm SMID ETF (AZTD) is 4.92%, while SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a volatility of 5.41%. This indicates that AZTD experiences smaller price fluctuations and is considered to be less risky than NZAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AZTD | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 5.41% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 11.32% | +2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 13.69% | +4.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.55% | 16.94% | +1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.55% | 17.13% | +1.42% |
AZTD vs. NZAC - Expense Ratio Comparison
AZTD has a 0.75% expense ratio, which is higher than NZAC's 0.12% expense ratio.
Dividends
AZTD vs. NZAC - Dividend Comparison
AZTD's dividend yield for the trailing twelve months is around 0.93%, less than NZAC's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AZTD Aztlan Global Stock Selection Dm SMID ETF | 0.93% | 1.05% | 1.87% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.10% | 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
AZTD and NZAC have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NZAC has higher volatility (5.41%) compared to AZTD (4.92%). In terms of maximum drawdown, AZTD dropped -16.75% vs NZAC's -33.72%.
On 3-year performance, NZAC leads with 17.67% vs 16.98% for AZTD. On fees, NZAC is cheaper at 0.12% per year. On volatility, AZTD has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NZAC has performed better with a 17.67% return vs 16.98%. 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 0.75% for AZTD.
NZAC has the higher dividend yield at 2.10%, compared with 0.93% for AZTD.
AZTD tracks Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: Aztlan and State Street. Their fees differ too: 0.75% for AZTD and 0.12% for NZAC.
NZAC currently has the higher Sharpe Ratio (1.36 vs 1.27), 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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