PAWZ vs. NZAC
PAWZ (ProShares Pet Care ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - PAWZ tracks the FactSet Pet Care Index while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 5 years, PAWZ returned -9.14%/yr vs 9.77%/yr for NZAC. A 0.71 correlation means they provide meaningful diversification when combined. PAWZ charges 0.50%/yr vs 0.12%/yr for NZAC.
Performance
PAWZ vs. NZAC - Performance Comparison
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Returns By Period
In the year-to-date period, PAWZ achieves a -11.47% return, which is significantly lower than NZAC's 7.93% return.
PAWZ
- 1D
- -0.01%
- 1M
- 4.84%
- YTD
- -11.47%
- 6M
- -11.85%
- 1Y
- -15.91%
- 3Y*
- -1.31%
- 5Y*
- -9.14%
- 10Y*
- —
NZAC
- 1D
- -0.51%
- 1M
- 1.99%
- YTD
- 7.93%
- 6M
- 8.91%
- 1Y
- 22.33%
- 3Y*
- 17.54%
- 5Y*
- 9.77%
- 10Y*
- 12.32%
PAWZ vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PAWZ ProShares Pet Care ETF | -11.47% | 1.21% | 3.88% | 12.47% | -40.08% | 10.46% | 61.69% | 22.95% | -8.52% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 7.93% | 20.55% | 16.67% | 23.22% | -19.77% | 18.35% | 17.21% | 28.24% | -7.27% |
Correlation
The correlation between PAWZ and NZAC is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.71 |
The correlation between PAWZ and NZAC shifts across timeframes, from 0.53 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PAWZ vs. NZAC — Risk / Return Rank
PAWZ
NZAC
PAWZ vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Pet Care ETF (PAWZ) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). 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.
| PAWZ | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.62 | ||
| Sortino ratioReturn per unit of downside risk | -3.66 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.30 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.22 | -2.97 |
| Martin ratioReturn relative to average drawdown | -1.77 | 9.40 | -11.17 |
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Drawdowns
PAWZ vs. NZAC - Drawdown Comparison
The maximum PAWZ drawdown since its inception was -50.07%, which is greater than NZAC's maximum drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for PAWZ and NZAC.
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Drawdown Indicators
| PAWZ | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.07% | -33.72% | -16.35% |
Max Drawdown (1Y)Largest decline over 1 year | -21.26% | -10.10% | -11.16% |
Max Drawdown (3Y)Largest decline over 3 years | -23.12% | -16.19% | -6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -50.07% | -28.31% | -21.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -41.10% | -1.63% | -39.47% |
Average DrawdownAverage peak-to-trough decline | -22.64% | -5.31% | -17.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.99% | 2.38% | +6.61% |
Volatility
PAWZ vs. NZAC - Volatility Comparison
The current volatility for ProShares Pet Care ETF (PAWZ) is 3.76%, while SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) has a volatility of 5.07%. This indicates that PAWZ experiences smaller price fluctuations and is considered to be less risky than NZAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAWZ | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 5.07% | -1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 11.19% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.53% | 13.59% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.19% | 16.92% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.64% | 17.18% | +4.46% |
PAWZ vs. NZAC - Expense Ratio Comparison
PAWZ has a 0.50% expense ratio, which is higher than NZAC's 0.12% expense ratio.
Dividends
PAWZ vs. NZAC - Dividend Comparison
PAWZ's dividend yield for the trailing twelve months is around 0.86%, less than NZAC's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.05% | 1.90% | 1.88% | 1.65% | 1.81% | 1.62% | 1.59% | 2.17% | 2.53% | 2.20% | 2.00% | 2.40% |
PAWZ ProShares Pet Care ETF | 0.86% | 0.81% | 0.63% | 0.44% | 0.54% | 0.18% | 0.14% | 0.35% | 0.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAWZ and NZAC have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NZAC has higher volatility (5.07%) compared to PAWZ (3.76%). In terms of maximum drawdown, PAWZ dropped -50.07% vs NZAC's -33.72%.
On 5-year performance, NZAC leads with 9.77% vs -9.14% for PAWZ. On fees, NZAC is cheaper at 0.12% per year. On volatility, PAWZ has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NZAC has performed better with a 9.77% return vs -9.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NZAC is cheaper with a 0.12% expense ratio, compared with 0.50% for PAWZ.
NZAC has the higher dividend yield at 2.05%, compared with 0.86% for PAWZ.
PAWZ tracks FactSet Pet Care Index, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.50% for PAWZ and 0.12% for NZAC.
NZAC currently has the higher Sharpe Ratio (1.65 vs -0.97), 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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