NZAC vs. BDVL
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and BDVL (iShares Disciplined Volatility Equity Active ETF) are both Global Equities funds - NZAC tracks the MSCI ACWI Climate Paris Aligned Index while BDVL tracks the MSCI ACWI Minimum Volatility Index. Both are passively managed. Their correlation of 0.84 suggests significant overlap in exposure. NZAC charges 0.12%/yr vs 0.40%/yr for BDVL.
Performance
NZAC vs. BDVL - Performance Comparison
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Returns By Period
In the year-to-date period, NZAC achieves a 6.02% return, which is significantly higher than BDVL's 4.73% return.
NZAC
- 1D
- -1.70%
- 1M
- -1.26%
- YTD
- 6.02%
- 6M
- 5.37%
- 1Y
- 20.66%
- 3Y*
- 17.81%
- 5Y*
- 9.25%
- 10Y*
- 12.17%
BDVL
- 1D
- -0.97%
- 1M
- -0.75%
- YTD
- 4.73%
- 6M
- 4.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NZAC vs. BDVL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 6.02% | 4.21% |
BDVL iShares Disciplined Volatility Equity Active ETF | 4.73% | 2.20% |
Correlation
The correlation between NZAC and BDVL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 15, 2025 | 0.84 |
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Return for Risk
NZAC vs. BDVL — Risk / Return Rank
NZAC
BDVL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NZAC vs. BDVL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and iShares Disciplined Volatility Equity Active ETF (BDVL). 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.
| NZAC | BDVL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | — | — |
| Martin ratioReturn relative to average drawdown | 8.63 | — | — |
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Drawdowns
NZAC vs. BDVL - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, which is greater than BDVL's maximum drawdown of -7.71%. Use the drawdown chart below to compare losses from any high point for NZAC and BDVL.
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Drawdown Indicators
| NZAC | BDVL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -7.71% | -26.01% |
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 | -3.38% | -1.41% | -1.97% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -1.18% | -4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | — | — |
Volatility
NZAC vs. BDVL - Volatility Comparison
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Volatility by Period
| NZAC | BDVL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.34% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 9.71% | +4.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 9.71% | +7.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.13% | 9.71% | +7.42% |
NZAC vs. BDVL - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than BDVL's 0.40% expense ratio.
Dividends
NZAC vs. BDVL - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.09%, less than BDVL's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BDVL iShares Disciplined Volatility Equity Active ETF | 3.56% | 2.79% | 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 | 2.09% | 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
NZAC and BDVL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 BDVL.
BDVL has the higher dividend yield at 3.56%, compared with 2.09% for NZAC.
NZAC tracks MSCI ACWI Climate Paris Aligned Index, while BDVL tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.40% for BDVL.
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