NZAC vs. GABF
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and GABF (Gabelli Financial Services Opportunities ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while GABF is a Financials Equities fund actively managed by Gabelli. NZAC is passively managed, while GABF is actively managed. Over the past 3 years, NZAC returned 16.63%/yr vs 20.10%/yr for GABF. A 0.71 correlation means they provide meaningful diversification when combined. NZAC charges 0.12%/yr vs 0.10%/yr for GABF.
Performance
NZAC vs. GABF - Performance Comparison
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Returns By Period
In the year-to-date period, NZAC achieves a 7.11% return, which is significantly higher than GABF's -2.34% return.
NZAC
- 1D
- -1.18%
- 1M
- 0.32%
- 6M
- 5.07%
- YTD
- 7.11%
- 1Y
- 17.90%
- 3Y*
- 16.63%
- 5Y*
- 9.25%
- 10Y*
- 11.76%
GABF
- 1D
- -0.22%
- 1M
- 1.32%
- 6M
- -5.40%
- YTD
- -2.34%
- 1Y
- -4.10%
- 3Y*
- 20.10%
- 5Y*
- —
- 10Y*
- —
NZAC vs. GABF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 7.11% | 20.55% | 16.67% | 23.22% | -2.04% |
GABF Gabelli Financial Services Opportunities ETF | -2.34% | 3.60% | 44.38% | 38.92% | -0.04% |
Correlation
The correlation between NZAC and GABF is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.71 |
The correlation between NZAC and GABF shifts across timeframes, from 0.61 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NZAC vs. GABF — Risk / Return Rank
NZAC
GABF
NZAC vs. GABF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and Gabelli Financial Services Opportunities ETF (GABF). 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 | GABF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.98 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | -0.24 | +2.02 |
| Martin ratioReturn relative to average drawdown | 7.28 | -0.53 | +7.81 |
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Drawdowns
NZAC vs. GABF - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, which is greater than GABF's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for NZAC and GABF.
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Drawdown Indicators
| NZAC | GABF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -20.86% | -12.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -17.16% | +7.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -20.86% | +4.67% |
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 | -2.38% | -7.14% | +4.76% |
Average DrawdownAverage peak-to-trough decline | -5.30% | -4.94% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 7.78% | -5.32% |
Volatility
NZAC vs. GABF - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and Gabelli Financial Services Opportunities ETF (GABF) have volatilities of 4.45% and 4.51%, 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
| NZAC | GABF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 4.51% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.51% | 13.37% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.75% | 17.59% | -3.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 20.45% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.05% | 20.45% | -3.40% |
NZAC vs. GABF - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is higher than GABF's 0.10% 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
NZAC vs. GABF - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.07%, more than GABF's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GABF Gabelli Financial Services Opportunities ETF | 2.01% | 1.96% | 4.19% | 4.95% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.07% | 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 GABF have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GABF has higher volatility (4.51%) compared to NZAC (4.45%). In terms of maximum drawdown, NZAC dropped -33.72% vs GABF's -20.86%.
On 3-year performance, GABF leads with 20.10% vs 16.63% for NZAC. On fees, GABF is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GABF has performed better with a 20.10% return vs 16.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GABF is cheaper with a 0.10% expense ratio, compared with 0.12% for NZAC.
NZAC has the higher dividend yield at 2.07%, compared with 2.01% for GABF.
NZAC is categorized as Global Equities, while GABF is Financials Equities. They also come from different issuers: State Street and Gabelli. Their fees differ too: 0.12% for NZAC and 0.10% for GABF.
NZAC currently has the higher Sharpe Ratio (1.31 vs -0.23), 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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