DWLD vs. NZAC

Last updated Apr 1, 2026

Compare and contrast key facts about Davis Select Worldwide ETF (DWLD) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC).

DWLD and NZAC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DWLD is an actively managed fund by Davis Advisers. It was launched on Jan 11, 2017. NZAC is a passively managed fund by State Street that tracks the performance of the MSCI ACWI Climate Paris Aligned Index. It was launched on Nov 25, 2014.

Performance

DWLD vs. NZAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Select Worldwide ETF (DWLD) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). The values are adjusted to include any dividend payments, if applicable.

DWLD vs. NZAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DWLD Davis Select Worldwide ETF	-6.07%	30.43%	24.34%	20.62%	-14.20%	-4.03%	22.73%	31.28%	-22.28%	30.10%
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF	-5.23%	20.55%	16.67%	23.22%	-19.77%	18.35%	17.21%	28.24%	-9.80%	21.00%

Returns By Period

In the year-to-date period, DWLD achieves a -6.07% return, which is significantly lower than NZAC's -5.23% return.

DWLD

• 1D: 2.70%
• 1M: -6.09%
• YTD: -6.07%
• 6M: -1.64%
• 1Y: 18.03%
• 3Y*: 20.00%
• 5Y*: 6.22%
• 10Y*: —

NZAC

• 1D: 3.15%
• 1M: -5.91%
• YTD: -5.23%
• 6M: -2.63%
• 1Y: 17.22%
• 3Y*: 15.04%
• 5Y*: 8.05%
• 10Y*: 10.82%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DWLD vs. NZAC - Expense Ratio Comparison

DWLD has a 0.63% expense ratio, which is higher than NZAC's 0.12% expense ratio.

DWLD

Davis Select Worldwide ETF

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

Return for Risk

DWLD vs. NZAC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DWLD

DWLD Risk / Return Rank: 53
DWLD Sharpe Ratio Rank: 53
DWLD Sortino Ratio Rank: 53
DWLD Omega Ratio Rank: 53
DWLD Calmar Ratio Rank: 53
DWLD Martin Ratio Rank: 52

NZAC

NZAC Risk / Return Rank: 61
NZAC Sharpe Ratio Rank: 55
NZAC Sortino Ratio Rank: 59
NZAC Omega Ratio Rank: 59
NZAC Calmar Ratio Rank: 63
NZAC Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DWLD vs. NZAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Select Worldwide ETF (DWLD) 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.

	DWLD	NZAC	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.97	-0.03
Sortino ratio Return per unit of downside risk	1.38	1.51	-0.13
Omega ratio Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio Return relative to maximum drawdown	1.35	1.59	-0.23
Martin ratio Return relative to average drawdown	5.03	6.70	-1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DWLD vs. NZAC - Sharpe Ratio Comparison

The current DWLD Sharpe Ratio is 0.93, which is comparable to the NZAC Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of DWLD and NZAC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DWLD	NZAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.97	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.48	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.54	-0.06

Correlation

The correlation between DWLD and NZAC is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DWLD vs. NZAC - Dividend Comparison

DWLD's dividend yield for the trailing twelve months is around 1.66%, less than NZAC's 2.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWLD Davis Select Worldwide ETF	1.66%	1.56%	1.45%	1.23%	0.75%	1.03%	0.24%	2.27%	4.11%	0.20%	0.00%	0.00%
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF	2.01%	1.90%	1.88%	1.65%	1.81%	1.62%	1.59%	2.17%	2.53%	2.20%	2.00%	2.40%

Drawdowns

DWLD vs. NZAC - Drawdown Comparison

The maximum DWLD drawdown since its inception was -39.27%, which is greater than NZAC's maximum drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for DWLD and NZAC.

Drawdown Indicators

	DWLD	NZAC	Difference
Max Drawdown Largest peak-to-trough decline	-39.27%	-33.72%	-5.55%
Max Drawdown (1Y) Largest decline over 1 year	-13.15%	-10.85%	-2.30%
Max Drawdown (5Y) Largest decline over 5 years	-39.27%	-28.31%	-10.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-8.81%	-7.27%	-1.54%
Average Drawdown Average peak-to-trough decline	-11.50%	-5.39%	-6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.57%	+0.98%

Volatility

DWLD vs. NZAC - Volatility Comparison

Davis Select Worldwide ETF (DWLD) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) have volatilities of 6.22% and 6.18%, 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.

Volatility by Period

	DWLD	NZAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.22%	6.18%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	10.07%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	17.91%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.68%	16.73%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	17.09%	+4.23%