NZAC vs. KLMT
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and KLMT (Invesco MSCI Global Climate 500 ETF) are both Global Equities funds - NZAC tracks the MSCI ACWI Climate Paris Aligned Index while KLMT tracks the MSCI ACWI Select Climate 500 Index. Both are passively managed. Over the past year, NZAC returned 18.44% vs 23.15% for KLMT. With a 0.95 correlation, they move nearly in lockstep. NZAC charges 0.12%/yr vs 0.10%/yr for KLMT.
Performance
NZAC vs. KLMT - Performance Comparison
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Returns By Period
In the year-to-date period, NZAC achieves a 5.64% return, which is significantly lower than KLMT's 10.09% return.
NZAC
- 1D
- -0.35%
- 1M
- -1.61%
- YTD
- 5.64%
- 6M
- 4.67%
- 1Y
- 18.44%
- 3Y*
- 17.67%
- 5Y*
- 9.09%
- 10Y*
- 12.14%
KLMT
- 1D
- -0.33%
- 1M
- 0.00%
- YTD
- 10.09%
- 6M
- 9.12%
- 1Y
- 23.15%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NZAC vs. KLMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 5.64% | 20.55% | 5.56% |
KLMT Invesco MSCI Global Climate 500 ETF | 10.09% | 21.31% | 4.94% |
Correlation
The correlation between NZAC and KLMT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2024 | 0.95 |
The correlation between NZAC and KLMT has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
NZAC vs. KLMT — Risk / Return Rank
NZAC
KLMT
NZAC vs. KLMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and Invesco MSCI Global Climate 500 ETF (KLMT). 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 | KLMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.44 | -0.60 |
| Martin ratioReturn relative to average drawdown | 7.66 | 10.30 | -2.64 |
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Drawdowns
NZAC vs. KLMT - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, which is greater than KLMT's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for NZAC and KLMT.
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Drawdown Indicators
| NZAC | KLMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -16.87% | -16.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -9.54% | -0.56% |
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 | -3.72% | -2.50% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -1.91% | -3.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.25% | +0.16% |
Volatility
NZAC vs. KLMT - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and Invesco MSCI Global Climate 500 ETF (KLMT) have volatilities of 5.41% and 5.41%, 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 | KLMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 5.41% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 11.08% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.69% | 13.38% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 16.02% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.13% | 16.02% | +1.11% |
NZAC vs. KLMT - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is higher than KLMT'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. KLMT - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.10%, more than KLMT's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KLMT Invesco MSCI Global Climate 500 ETF | 1.79% | 1.95% | 0.85% | 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 | 2.10% | 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
With a correlation of 0.96, NZAC and KLMT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
KLMT has higher volatility (5.41%) compared to NZAC (5.41%). In terms of maximum drawdown, NZAC dropped -33.72% vs KLMT's -16.87%.
On 1-year performance, KLMT leads with 23.15% vs 18.44% for NZAC. On fees, KLMT 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 1-year period, KLMT has performed better with a 23.15% return vs 18.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KLMT is cheaper with a 0.10% expense ratio, compared with 0.12% for NZAC.
NZAC has the higher dividend yield at 2.10%, compared with 1.79% for KLMT.
NZAC tracks MSCI ACWI Climate Paris Aligned Index, while KLMT tracks MSCI ACWI Select Climate 500 Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for NZAC and 0.10% for KLMT.
KLMT currently has the higher Sharpe Ratio (1.75 vs 1.36), 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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