NZAC vs. XCH.TO
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and XCH.TO (iShares China Index ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while XCH.TO is a China Equities fund tracking the Morningstar China GR CAD. Both are passively managed. Over the past 10 years, NZAC returned 12.28%/yr vs 2.74%/yr for XCH.TO. At a 0.44 correlation, their price movements are largely independent. NZAC charges 0.12%/yr vs 0.87%/yr for XCH.TO.
Performance
NZAC vs. XCH.TO - Performance Comparison
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Different Trading Currencies
NZAC is traded in USD, while XCH.TO is traded in CAD. To make them comparable, the XCH.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, NZAC achieves a 6.77% return, which is significantly higher than XCH.TO's -8.08% return. Over the past 10 years, NZAC has outperformed XCH.TO with an annualized return of 12.28%, while XCH.TO has yielded a comparatively lower 2.74% annualized 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%
XCH.TO
- 1D
- 1.03%
- 1M
- -5.31%
- YTD
- -8.08%
- 6M
- -8.73%
- 1Y
- -1.44%
- 3Y*
- 10.12%
- 5Y*
- -3.55%
- 10Y*
- 2.74%
NZAC vs. XCH.TO - 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% |
XCH.TO iShares China Index ETF | -8.08% | 28.33% | 28.61% | -12.68% | -20.44% | -20.52% | 9.78% | 12.76% | -13.55% | 36.52% |
Correlation
The correlation between NZAC and XCH.TO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2014 | 0.44 |
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Return for Risk
NZAC vs. XCH.TO — Risk / Return Rank
NZAC
XCH.TO
NZAC vs. XCH.TO - 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 China Index ETF (XCH.TO). 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 | XCH.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.67 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.99 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | -0.18 | +2.22 |
| Martin ratioReturn relative to average drawdown | 8.62 | -0.38 | +9.00 |
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Drawdowns
NZAC vs. XCH.TO - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, smaller than the maximum XCH.TO drawdown of -60.79%. Use the drawdown chart below to compare losses from any high point for NZAC and XCH.TO.
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Drawdown Indicators
| NZAC | XCH.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -60.79% | +27.07% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -16.21% | +6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -28.26% | +12.07% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -55.12% | +26.81% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | -60.79% | +27.07% |
Current DrawdownCurrent decline from peak | -2.70% | -28.78% | +26.08% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -23.83% | +18.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 7.83% | -5.44% |
Volatility
NZAC vs. XCH.TO - Volatility Comparison
The current volatility for SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) is 5.07%, while iShares China Index ETF (XCH.TO) has a volatility of 5.88%. This indicates that NZAC experiences smaller price fluctuations and is considered to be less risky than XCH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NZAC | XCH.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.88% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 13.74% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 19.87% | -6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 30.39% | -13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 26.37% | -9.20% |
NZAC vs. XCH.TO - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than XCH.TO's 0.87% expense ratio.
Dividends
NZAC vs. XCH.TO - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.08%, less than XCH.TO's 2.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XCH.TO iShares China Index ETF | 2.25% | 2.11% | 1.54% | 2.86% | 2.35% | 1.51% | 2.17% | 2.50% | 2.45% | 2.41% | 2.21% | 2.58% |
Frequently Asked Questions
NZAC and XCH.TO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NZAC is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NZAC is cheaper with a 0.12% expense ratio, compared with 0.87% for XCH.TO.
NZAC is categorized as Global Equities, while XCH.TO is China Equities. NZAC tracks MSCI ACWI Climate Paris Aligned Index, while XCH.TO tracks Morningstar China GR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.87% for XCH.TO.
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