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 17.81%/yr vs 21.50%/yr for GABF. A 0.72 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 6.02% return, which is significantly higher than GABF's -4.42% 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%
GABF
- 1D
- -0.39%
- 1M
- 0.90%
- YTD
- -4.42%
- 6M
- -5.68%
- 1Y
- -1.50%
- 3Y*
- 21.50%
- 5Y*
- —
- 10Y*
- —
NZAC vs. GABF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 6.02% | 20.55% | 16.67% | 23.22% | -2.04% |
GABF Gabelli Financial Services Opportunities ETF | -4.42% | 3.60% | 44.38% | 38.92% | -0.04% |
Correlation
The correlation between NZAC and GABF is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.72 |
The correlation between NZAC and GABF has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
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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 | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.00 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | -0.09 | +2.14 |
| Martin ratioReturn relative to average drawdown | 8.63 | -0.20 | +8.83 |
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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 | -3.38% | -9.12% | +5.74% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -4.90% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 7.55% | -5.15% |
Volatility
NZAC vs. GABF - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a higher volatility of 5.41% compared to Gabelli Financial Services Opportunities ETF (GABF) at 4.38%. This indicates that NZAC's price experiences larger fluctuations and is considered to be riskier than GABF based on this measure. 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 | 5.41% | 4.38% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 11.34% | 13.29% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 17.47% | -3.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 20.48% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.13% | 20.48% | -3.35% |
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 2.09%, more than GABF's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GABF Gabelli Financial Services Opportunities ETF | 2.05% | 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 | 2.09% | 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 GABF have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NZAC has higher volatility (5.41%) compared to GABF (4.38%). In terms of maximum drawdown, NZAC dropped -33.72% vs GABF's -20.86%.
On 3-year performance, GABF leads with 21.50% vs 17.81% for NZAC. On fees, GABF is cheaper at 0.10% per year. On volatility, GABF has been the lower-risk option at 4.38%. 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 21.50% return vs 17.81%. 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 2.09%, compared with 2.05% 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 (1.52 vs -0.09), 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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