DSI vs. NZAC
DSI (iShares MSCI KLD 400 Social ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both exchange-traded funds - DSI is a Large Cap Growth Equities fund tracking the MSCI KLD 400 Social Index, while NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 10 years, DSI returned 15.40%/yr vs 12.28%/yr for NZAC. Their correlation of 0.83 suggests significant overlap in exposure. DSI charges 0.25%/yr vs 0.12%/yr for NZAC.
Performance
DSI vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, DSI achieves a 9.87% return, which is significantly higher than NZAC's 6.77% return. Over the past 10 years, DSI has outperformed NZAC with an annualized return of 15.40%, while NZAC has yielded a comparatively lower 12.28% annualized return.
DSI
- 1D
- 0.83%
- 1M
- -1.12%
- YTD
- 9.87%
- 6M
- 10.52%
- 1Y
- 27.10%
- 3Y*
- 20.62%
- 5Y*
- 12.74%
- 10Y*
- 15.40%
NZAC
- 1D
- 0.27%
- 1M
- -0.64%
- YTD
- 6.77%
- 6M
- 7.70%
- 1Y
- 22.02%
- 3Y*
- 17.54%
- 5Y*
- 9.39%
- 10Y*
- 12.28%
DSI vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DSI iShares MSCI KLD 400 Social ETF | 9.87% | 18.03% | 22.38% | 28.51% | -21.71% | 31.32% | 20.94% | 31.15% | -3.90% | 20.89% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 6.77% | 20.55% | 16.67% | 23.22% | -19.77% | 18.35% | 17.21% | 28.24% | -9.80% | 22.93% |
Correlation
The correlation between DSI and NZAC is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2014 | 0.83 |
The correlation between DSI and NZAC has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
DSI vs. NZAC — Risk / Return Rank
DSI
NZAC
DSI vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI KLD 400 Social ETF (DSI) 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.
| DSI | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.04 | +0.27 |
| Martin ratioReturn relative to average drawdown | 9.56 | 8.62 | +0.94 |
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Drawdowns
DSI vs. NZAC - Drawdown Comparison
The maximum DSI drawdown since its inception was -54.23%, which is greater than NZAC's maximum drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for DSI and NZAC.
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Drawdown Indicators
| DSI | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.23% | -33.72% | -20.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -10.10% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -20.58% | -16.19% | -4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -28.36% | -28.31% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -34.10% | -33.72% | -0.38% |
Current DrawdownCurrent decline from peak | -2.26% | -2.70% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -7.51% | -5.32% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.39% | +0.28% |
Volatility
DSI vs. NZAC - Volatility Comparison
iShares MSCI KLD 400 Social ETF (DSI) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) have volatilities of 5.22% and 5.07%, 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
| DSI | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 5.07% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.81% | 11.12% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 13.56% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.00% | 16.90% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.74% | 17.17% | +1.57% |
DSI vs. NZAC - Expense Ratio Comparison
DSI has a 0.25% 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
DSI vs. NZAC - Dividend Comparison
DSI's dividend yield for the trailing twelve months is around 0.86%, less than NZAC's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DSI iShares MSCI KLD 400 Social ETF | 0.86% | 0.92% | 1.03% | 1.19% | 1.39% | 0.99% | 1.22% | 1.40% | 1.63% | 1.28% | 1.51% | 1.46% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.08% | 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 0.92, DSI 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.
DSI has higher volatility (5.22%) compared to NZAC (5.07%). In terms of maximum drawdown, DSI dropped -54.23% vs NZAC's -33.72%.
On 10-year performance, DSI leads with 15.40% vs 12.28% for NZAC. On fees, NZAC is cheaper at 0.12% per year. On volatility, NZAC has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DSI has performed better with a 15.40% return vs 12.28%. 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 0.25% for DSI.
NZAC has the higher dividend yield at 2.08%, compared with 0.86% for DSI.
DSI is categorized as Large Cap Growth Equities, while NZAC is Global Equities. DSI tracks MSCI KLD 400 Social Index, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for DSI and 0.12% for NZAC.
DSI currently has the higher Sharpe Ratio (1.88 vs 1.52), 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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