BDYN vs. NZAC
BDYN (iShares Dynamic Equity Active ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds. BDYN is actively managed, while NZAC is passively managed. With a 0.96 correlation, they move nearly in lockstep. BDYN charges 0.40%/yr vs 0.12%/yr for NZAC.
Performance
BDYN vs. NZAC - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BDYN having a 5.84% return and NZAC slightly lower at 5.64%.
BDYN
- 1D
- -0.36%
- 1M
- -0.92%
- YTD
- 5.84%
- 6M
- 4.37%
- 1Y
- —
- 3Y*
- —
- 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%
BDYN vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BDYN iShares Dynamic Equity Active ETF | 5.84% | 3.61% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 5.64% | 4.21% |
Correlation
The correlation between BDYN and NZAC is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 15, 2025 | 0.96 |
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Return for Risk
BDYN vs. NZAC — Risk / Return Rank
BDYN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NZAC
BDYN vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Dynamic Equity Active ETF (BDYN) 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.
| BDYN | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.24 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.83 | — |
| Martin ratioReturn relative to average drawdown | — | 7.66 | — |
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Drawdowns
BDYN vs. NZAC - Drawdown Comparison
The maximum BDYN drawdown since its inception was -10.85%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for BDYN and NZAC.
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Drawdown Indicators
| BDYN | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.85% | -33.72% | +22.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.10% | — |
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 | -2.95% | -3.72% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -1.81% | -5.31% | +3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.41% | — |
Volatility
BDYN vs. NZAC - Volatility Comparison
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Volatility by Period
| BDYN | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.85% | 13.69% | +1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 16.94% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.85% | 17.13% | -2.28% |
BDYN vs. NZAC - Expense Ratio Comparison
BDYN has a 0.40% expense ratio, which is higher than NZAC's 0.12% expense ratio.
Dividends
BDYN vs. NZAC - Dividend Comparison
BDYN's dividend yield for the trailing twelve months is around 2.06%, less than NZAC's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDYN iShares Dynamic Equity Active ETF | 2.06% | 2.18% | 0.00% | 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 | 2.10% | 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
With a correlation of 0.96, BDYN 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.
On fees, NZAC is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NZAC is cheaper with a 0.12% expense ratio, compared with 0.40% for BDYN.
NZAC has the higher dividend yield at 2.10%, compared with 2.06% for BDYN.
They also come from different issuers: iShares and State Street. Their fees differ too: 0.40% for BDYN and 0.12% for NZAC.
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