NZAC vs. HYXF
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Both are passively managed. Over the past 5 years, NZAC returned 9.39%/yr vs 3.61%/yr for HYXF. A 0.62 correlation means they provide meaningful diversification when combined. NZAC charges 0.12%/yr vs 0.35%/yr for HYXF.
Performance
NZAC vs. HYXF - Performance Comparison
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Returns By Period
In the year-to-date period, NZAC achieves a 6.77% return, which is significantly higher than HYXF's 1.06% 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%
HYXF
- 1D
- -0.05%
- 1M
- 0.47%
- YTD
- 1.06%
- 6M
- 1.78%
- 1Y
- 5.83%
- 3Y*
- 8.51%
- 5Y*
- 3.61%
- 10Y*
- —
NZAC vs. HYXF - 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% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.06% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | 6.89% |
Correlation
The correlation between NZAC and HYXF is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.62 |
The correlation between NZAC and HYXF shifts across timeframes, from 0.62 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NZAC vs. HYXF — Risk / Return Rank
NZAC
HYXF
NZAC vs. HYXF - 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 Advanced High Yield Corporate Bond ETF (HYXF). 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 | HYXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 2.26 | -0.22 |
| Martin ratioReturn relative to average drawdown | 8.62 | 10.11 | -1.49 |
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Drawdowns
NZAC vs. HYXF - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, which is greater than HYXF's maximum drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for NZAC and HYXF.
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Drawdown Indicators
| NZAC | HYXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -18.75% | -14.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -2.57% | -7.53% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -4.81% | -11.38% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -16.00% | -12.31% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -0.13% | -2.57% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -2.57% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 0.57% | +1.82% |
Volatility
NZAC vs. HYXF - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a higher volatility of 5.07% compared to iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) at 1.26%. This indicates that NZAC's price experiences larger fluctuations and is considered to be riskier than HYXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZAC | HYXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.26% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 3.00% | +8.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 3.82% | +9.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 8.05% | +8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 8.31% | +8.86% |
NZAC vs. HYXF - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than HYXF's 0.35% expense ratio.
Dividends
NZAC vs. HYXF - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.08%, less than HYXF's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.09% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% | 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 HYXF have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NZAC has higher volatility (5.07%) compared to HYXF (1.26%). In terms of maximum drawdown, NZAC dropped -33.72% vs HYXF's -18.75%.
On 5-year performance, NZAC leads with 9.39% vs 3.61% for HYXF. On fees, NZAC is cheaper at 0.12% per year. On volatility, HYXF has been the lower-risk option at 1.26%. 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 3.61%. 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 0.35% for HYXF.
HYXF has the higher dividend yield at 6.09%, compared with 2.08% for NZAC.
NZAC is categorized as Global Equities, while HYXF is High Yield Bonds. NZAC tracks MSCI ACWI Climate Paris Aligned Index, while HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.35% for HYXF.
HYXF currently has the higher Sharpe Ratio (1.52 vs 1.52), 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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