NZAC vs. XESG.TO
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and XESG.TO (iShares ESG Aware MSCI Canada Index ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while XESG.TO is a Canada Equities fund tracking the Morningstar Canada GR CAD. Both are passively managed. Over the past 5 years, NZAC returned 9.39%/yr vs 9.28%/yr for XESG.TO. A 0.55 correlation means they provide meaningful diversification when combined. NZAC charges 0.12%/yr vs 0.16%/yr for XESG.TO.
Performance
NZAC vs. XESG.TO - Performance Comparison
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Different Trading Currencies
NZAC is traded in USD, while XESG.TO is traded in CAD. To make them comparable, the XESG.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 lower than XESG.TO's 8.30% 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%
XESG.TO
- 1D
- 0.62%
- 1M
- -0.17%
- YTD
- 8.30%
- 6M
- 6.45%
- 1Y
- 25.69%
- 3Y*
- 19.26%
- 5Y*
- 9.28%
- 10Y*
- —
NZAC vs. XESG.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 6.77% | 20.55% | 16.67% | 23.22% | -19.77% | 18.35% | 17.21% | 12.15% |
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 8.30% | 32.39% | 10.84% | 12.99% | -13.14% | 23.15% | 3.60% | 14.68% |
Correlation
The correlation between NZAC and XESG.TO 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 | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2019 | 0.55 |
The correlation between NZAC and XESG.TO has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
NZAC vs. XESG.TO — Risk / Return Rank
NZAC
XESG.TO
NZAC vs. XESG.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 ESG Aware MSCI Canada Index ETF (XESG.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 | XESG.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.33 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 2.69 | -0.65 |
| Martin ratioReturn relative to average drawdown | 8.62 | 10.85 | -2.23 |
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Drawdowns
NZAC vs. XESG.TO - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, smaller than the maximum XESG.TO drawdown of -44.41%. Use the drawdown chart below to compare losses from any high point for NZAC and XESG.TO.
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Drawdown Indicators
| NZAC | XESG.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -44.41% | +10.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -9.72% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -15.36% | -0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -25.05% | -3.26% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -1.74% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -7.12% | +1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 2.40% | -0.01% |
Volatility
NZAC vs. XESG.TO - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a higher volatility of 5.07% compared to iShares ESG Aware MSCI Canada Index ETF (XESG.TO) at 4.57%. This indicates that NZAC's price experiences larger fluctuations and is considered to be riskier than XESG.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 | XESG.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 4.57% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 11.81% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 14.33% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 15.45% | +1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 23.02% | -5.85% |
NZAC vs. XESG.TO - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than XESG.TO's 0.16% expense ratio. Despite the difference, 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. XESG.TO - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.08%, more than XESG.TO's 1.99% 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% |
XESG.TO iShares ESG Aware MSCI Canada Index ETF | 1.99% | 2.17% | 2.57% | 2.89% | 2.77% | 2.01% | 2.30% | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NZAC and XESG.TO 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.
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 0.16% for XESG.TO.
NZAC is categorized as Global Equities, while XESG.TO is Canada Equities. NZAC tracks MSCI ACWI Climate Paris Aligned Index, while XESG.TO tracks Morningstar Canada GR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.16% for XESG.TO.
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