NZUS vs. DARP

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI USA Climate Paris Aligned ETF (NZUS) and Grizzle Growth ETF (DARP).

NZUS and DARP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NZUS is a passively managed fund by State Street that tracks the performance of the MSCI USA Climate Paris Aligned Index. It was launched on Apr 21, 2022. DARP is an actively managed fund by Grizzle. It was launched on Dec 15, 2021.

Performance

NZUS vs. DARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA Climate Paris Aligned ETF (NZUS) and Grizzle Growth ETF (DARP). The values are adjusted to include any dividend payments, if applicable.

NZUS vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NZUS SPDR MSCI USA Climate Paris Aligned ETF	-8.31%	13.95%	24.34%	8.86%
DARP Grizzle Growth ETF	4.29%	40.19%	24.63%	6.25%

Returns By Period

In the year-to-date period, NZUS achieves a -8.31% return, which is significantly lower than DARP's 4.29% return.

NZUS

• 1D: 3.30%
• 1M: -4.09%
• YTD: -8.31%
• 6M: -6.15%
• 1Y: 12.87%
• 3Y*: 15.43%
• 5Y*: —
• 10Y*: —

DARP

• 1D: 3.09%
• 1M: -6.88%
• YTD: 4.29%
• 6M: 13.93%
• 1Y: 64.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NZUS vs. DARP - Expense Ratio Comparison

NZUS has a 0.10% expense ratio, which is lower than DARP's 0.75% expense ratio.

DARP

Grizzle Growth ETF

NZUS

SPDR MSCI USA Climate Paris Aligned ETF

Return for Risk

NZUS vs. DARP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NZUS

NZUS Risk / Return Rank: 39
NZUS Sharpe Ratio Rank: 35
NZUS Sortino Ratio Rank: 38
NZUS Omega Ratio Rank: 39
NZUS Calmar Ratio Rank: 42
NZUS Martin Ratio Rank: 40

DARP

DARP Risk / Return Rank: 93
DARP Sharpe Ratio Rank: 93
DARP Sortino Ratio Rank: 92
DARP Omega Ratio Rank: 91
DARP Calmar Ratio Rank: 95
DARP Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NZUS vs. DARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Climate Paris Aligned ETF (NZUS) and Grizzle Growth ETF (DARP). 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.

	NZUS	DARP	Difference
Sharpe ratio Return per unit of total volatility	0.66	2.19	-1.53
Sortino ratio Return per unit of downside risk	1.10	2.73	-1.64
Omega ratio Gain probability vs. loss probability	1.16	1.39	-0.24
Calmar ratio Return relative to maximum drawdown	1.09	3.97	-2.88
Martin ratio Return relative to average drawdown	3.76	16.42	-12.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NZUS vs. DARP - Sharpe Ratio Comparison

The current NZUS Sharpe Ratio is 0.66, which is lower than the DARP Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of NZUS and DARP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NZUS	DARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	2.19	-1.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	1.11	-0.59

Correlation

The correlation between NZUS and DARP is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NZUS vs. DARP - Dividend Comparison

NZUS's dividend yield for the trailing twelve months is around 0.98%, more than DARP's 0.42% yield.

	TTM	2025	2024	2023	2022
NZUS SPDR MSCI USA Climate Paris Aligned ETF	0.98%	0.89%	5.49%	1.07%	1.22%
DARP Grizzle Growth ETF	0.42%	0.43%	1.93%	0.32%	0.00%

Drawdowns

NZUS vs. DARP - Drawdown Comparison

The maximum NZUS drawdown since its inception was -20.99%, smaller than the maximum DARP drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for NZUS and DARP.

Drawdown Indicators

	NZUS	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-20.99%	-30.27%	+9.28%
Max Drawdown (1Y) Largest decline over 1 year	-12.44%	-15.92%	+3.48%
Current Drawdown Current decline from peak	-9.54%	-9.09%	-0.45%
Average Drawdown Average peak-to-trough decline	-4.93%	-4.84%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	3.85%	-0.26%

Volatility

NZUS vs. DARP - Volatility Comparison

The current volatility for SPDR MSCI USA Climate Paris Aligned ETF (NZUS) is 5.76%, while Grizzle Growth ETF (DARP) has a volatility of 9.51%. This indicates that NZUS experiences smaller price fluctuations and is considered to be less risky than DARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NZUS	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	9.51%	-3.75%
Volatility (6M) Calculated over the trailing 6-month period	10.42%	19.28%	-8.86%
Volatility (1Y) Calculated over the trailing 1-year period	19.57%	29.51%	-9.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.78%	26.42%	-7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	26.42%	-7.64%