NZAC vs. ESGD
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and ESGD (iShares ESG Aware MSCI EAFE ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while ESGD is a Foreign Large Cap Equities fund tracking the MSCI EAFE Extended ESG Focus Index. Both are passively managed. Over the past 5 years, NZAC returned 9.39%/yr vs 7.96%/yr for ESGD. Their correlation of 0.84 suggests significant overlap in exposure. NZAC charges 0.12%/yr vs 0.20%/yr for ESGD.
Performance
NZAC vs. ESGD - Performance Comparison
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Returns By Period
In the year-to-date period, NZAC achieves a 6.77% return, which is significantly lower than ESGD's 9.13% return.
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%
ESGD
- 1D
- 0.25%
- 1M
- 1.66%
- YTD
- 9.13%
- 6M
- 10.49%
- 1Y
- 20.92%
- 3Y*
- 15.55%
- 5Y*
- 7.96%
- 10Y*
- —
NZAC vs. ESGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ESGD iShares ESG Aware MSCI EAFE ETF | 9.13% | 29.63% | 3.95% | 18.53% | -15.17% | 11.79% | 8.20% | 23.12% | -13.33% | 25.10% |
Correlation
The correlation between NZAC and ESGD is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2016 | 0.84 |
The correlation between NZAC and ESGD has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
NZAC vs. ESGD — Risk / Return Rank
NZAC
ESGD
NZAC vs. ESGD - 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 ESG Aware MSCI EAFE ETF (ESGD). 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 | ESGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.22 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 1.67 | +0.37 |
| Martin ratioReturn relative to average drawdown | 8.62 | 6.22 | +2.40 |
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Drawdowns
NZAC vs. ESGD - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, roughly equal to the maximum ESGD drawdown of -33.70%. Use the drawdown chart below to compare losses from any high point for NZAC and ESGD.
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Drawdown Indicators
| NZAC | ESGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -33.70% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -11.68% | +1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -13.86% | -2.33% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -30.03% | +1.72% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -0.61% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -6.18% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 3.14% | -0.75% |
Volatility
NZAC vs. ESGD - Volatility Comparison
The current volatility for SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) is 5.07%, while iShares ESG Aware MSCI EAFE ETF (ESGD) has a volatility of 5.56%. This indicates that NZAC experiences smaller price fluctuations and is considered to be less risky than ESGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZAC | ESGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.56% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 13.31% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 15.85% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 16.72% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 17.00% | +0.17% |
NZAC vs. ESGD - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than ESGD's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NZAC vs. ESGD - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.08%, less than ESGD's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESGD iShares ESG Aware MSCI EAFE ETF | 3.30% | 3.60% | 3.23% | 3.02% | 2.59% | 2.75% | 1.63% | 2.57% | 2.69% | 2.65% | 0.09% | 0.00% |
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
NZAC and ESGD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESGD has higher volatility (5.56%) compared to NZAC (5.07%). In terms of maximum drawdown, NZAC dropped -33.72% vs ESGD's -33.70%.
On 5-year performance, NZAC leads with 9.39% vs 7.96% for ESGD. 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 5-year period, NZAC has performed better with a 9.39% return vs 7.96%. 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 0.20% for ESGD.
ESGD has the higher dividend yield at 3.30%, compared with 2.08% for NZAC.
NZAC is categorized as Global Equities, while ESGD is Foreign Large Cap Equities. NZAC tracks MSCI ACWI Climate Paris Aligned Index, while ESGD tracks MSCI EAFE Extended ESG Focus Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.20% for ESGD.
NZAC currently has the higher Sharpe Ratio (1.52 vs 1.23), 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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