NZAC vs. XSTB.TO
NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) and XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) are both exchange-traded funds - NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index, while XSTB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, NZAC returned 9.39%/yr vs -0.94%/yr for XSTB.TO. At a 0.06 correlation, their price movements are largely independent. NZAC charges 0.12%/yr vs 0.17%/yr for XSTB.TO.
Performance
NZAC vs. XSTB.TO - Performance Comparison
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Different Trading Currencies
NZAC is traded in USD, while XSTB.TO is traded in CAD. To make them comparable, the XSTB.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 XSTB.TO's -0.92% 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%
XSTB.TO
- 1D
- -0.18%
- 1M
- -1.28%
- YTD
- -0.92%
- 6M
- -0.04%
- 1Y
- 0.29%
- 3Y*
- 3.19%
- 5Y*
- -0.94%
- 10Y*
- —
NZAC vs. XSTB.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% | 13.60% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | -0.92% | 8.56% | -2.94% | 7.42% | -9.64% | -1.07% | 7.50% | 3.77% |
Correlation
The correlation between NZAC and XSTB.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2019 | 0.06 |
The correlation between NZAC and XSTB.TO shifts across timeframes, from 0.06 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NZAC vs. XSTB.TO — Risk / Return Rank
NZAC
XSTB.TO
NZAC vs. XSTB.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 Canadian Short Term Bond Index ETF (XSTB.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 | XSTB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.03 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.04 | 0.24 | +1.80 |
| Martin ratioReturn relative to average drawdown | 8.62 | 0.55 | +8.07 |
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Drawdowns
NZAC vs. XSTB.TO - Drawdown Comparison
The maximum NZAC drawdown since its inception was -33.72%, which is greater than XSTB.TO's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for NZAC and XSTB.TO.
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Drawdown Indicators
| NZAC | XSTB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -18.31% | -15.41% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -3.43% | -6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -7.23% | -8.96% |
Max Drawdown (5Y)Largest decline over 5 years | -28.31% | -17.61% | -10.70% |
Max Drawdown (10Y)Largest decline over 10 years | -33.72% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -4.96% | +2.26% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -6.84% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 1.47% | +0.92% |
Volatility
NZAC vs. XSTB.TO - Volatility Comparison
SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a higher volatility of 5.07% compared to iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) at 1.12%. This indicates that NZAC's price experiences larger fluctuations and is considered to be riskier than XSTB.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 | XSTB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 1.12% | +3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 11.12% | 3.62% | +7.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 4.72% | +8.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 6.87% | +10.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 6.88% | +10.29% |
NZAC vs. XSTB.TO - Expense Ratio Comparison
NZAC has a 0.12% expense ratio, which is lower than XSTB.TO's 0.17% 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. XSTB.TO - Dividend Comparison
NZAC's dividend yield for the trailing twelve months is around 2.08%, less than XSTB.TO's 2.87% 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% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | 2.87% | 2.88% | 2.64% | 2.22% | 1.93% | 1.82% | 2.10% | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NZAC and XSTB.TO have a correlation of 0.18, 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 0.17% for XSTB.TO.
NZAC is categorized as Global Equities, while XSTB.TO is Canadian Government Bonds. NZAC tracks MSCI ACWI Climate Paris Aligned Index, while XSTB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for NZAC and 0.17% for XSTB.TO.
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