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 -9.39%/yr vs 9.01%/yr for NZAC. Their 0.70 correlation means they have sometimes moved together and sometimes differently. 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 -8.33% return, which is significantly lower than NZAC's 5.98% return.
PAWZ
- 1D
- 2.03%
- 1M
- 3.85%
- 6M
- -10.65%
- YTD
- -8.33%
- 1Y
- -12.73%
- 3Y*
- -0.92%
- 5Y*
- -9.39%
- 10Y*
- —
- ALL TIME*
- 3.51%
NZAC
- 1D
- 0.26%
- 1M
- 0.28%
- 6M
- 4.39%
- YTD
- 5.98%
- 1Y
- 14.16%
- 3Y*
- 15.76%
- 5Y*
- 9.01%
- 10Y*
- 11.62%
- ALL TIME*
- 9.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $150.71K | $124.23K | $203.76K | |
| $91.97K | $88.04K | $268.83K |
PAWZ vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PAWZ ProShares Pet Care ETF | -8.33% | 1.21% | 3.88% | 12.47% | -40.08% | 10.46% | 61.69% | 22.95% | -8.52% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 5.98% | 20.55% | 16.67% | 23.22% | -19.77% | 18.35% | 17.21% | 28.24% | -7.27% |
Correlation
The correlation between PAWZ and NZAC is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.70 |
Over the past year, the correlation between PAWZ and NZAC has dropped to 0.47 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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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 | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.19 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 1.41 | -2.01 |
| Martin ratioReturn relative to average drawdown | -1.23 | 5.63 | -6.85 |
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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 | -21.10% | -10.10% | -11.00% |
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 | -39.02% | -3.41% | -35.61% |
Average DrawdownAverage peak-to-trough decline | -22.89% | -5.29% | -17.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.41% | 2.53% | +7.88% |
Volatility
PAWZ vs. NZAC - Volatility Comparison
ProShares Pet Care ETF (PAWZ) has a higher volatility of 5.44% compared to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) at 3.44%. This indicates that PAWZ's price experiences larger fluctuations and is considered to be riskier 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 | 5.44% | 3.44% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.96% | 11.41% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.17% | 13.85% | +3.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 16.94% | +3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.63% | 17.06% | +4.57% |
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 0.70%, less than NZAC's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.09% | 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 | 0.70% | 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 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAWZ has higher volatility (5.44%) compared to NZAC (3.44%). In terms of maximum drawdown, PAWZ dropped -50.07% vs NZAC's -33.72%.
On 5-year performance, NZAC leads with 9.01% vs -9.39% for PAWZ. On fees, NZAC is cheaper at 0.12% per year. On volatility, NZAC has been the lower-risk option at 3.44%. 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 9.01% return vs -9.39%. 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 2.09%, compared with 0.70% 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 (1.03 vs -0.75), 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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