PSWD vs. USNZ

Last updated Aug 2, 2026

PSWD (Xtrackers Cybersecurity Select Equity ETF) and USNZ (Xtrackers Net Zero Pathway Paris Aligned US Equity ETF) are both exchange-traded funds - PSWD is a Technology Equities fund tracking the Solactive Cyber Security ESG Screened Index, while USNZ is a Large Cap Blend Equities fund tracking the Solactive ISS ESG United States Net Zero Pathway Enhanced Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, PSWD returned 17.15%/yr vs 18.33%/yr for USNZ. Their 0.64 correlation means they have sometimes moved together and sometimes differently. PSWD charges 0.20%/yr vs 0.10%/yr for USNZ.

Performance

PSWD vs. USNZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Cybersecurity Select Equity ETF (PSWD) and Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSWD achieves a 26.31% return, which is significantly higher than USNZ's 9.83% return.

PSWD

• 1D: 1.28%
• 1M: -1.30%
• 6M: 26.74%
• YTD: 26.31%
• 1Y: 20.73%
• 3Y*: 17.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.24%

USNZ

• 1D: 0.82%
• 1M: 0.46%
• 6M: 9.35%
• YTD: 9.83%
• 1Y: 21.38%
• 3Y*: 18.33%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PSWD Xtrackers Cybersecurity Select Equity ETF	$62.12K	$66.88K	$71.33K
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	$31.66K	$19.08K	$204.85K

PSWD vs. USNZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PSWD Xtrackers Cybersecurity Select Equity ETF	26.31%	1.69%	9.46%	18.58%
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	9.83%	17.76%	21.96%	7.62%

Correlation

The correlation between PSWD and USNZ is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	0.64

The correlation between PSWD and USNZ shifts across timeframes, from 0.54 (1 year) to 0.64 (3 years), reflecting how their relationship changes across market environments.

PSWD vs. USNZ - Sectors Allocation Comparison

Sectors	PSWD	USNZ
Technology	98.1%	44.7%
Industrials	1.1%	3.4%
Real Estate	0.4%	3.0%
Communication Services	0.1%	11.7%
Financial Services	0.1%	10.3%
Consumer Cyclical	0.1%	9.8%
Healthcare	0.1%	11.5%
Consumer Defensive	0.0%	3.2%
Energy	0.0%	0.0%
Utilities	0.0%	1.1%
Basic Materials	0.0%	1.2%

Return for Risk

PSWD vs. USNZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PSWD

PSWD Risk / Return Rank: 27
PSWD Sharpe Ratio Rank: 28
PSWD Sortino Ratio Rank: 29
PSWD Omega Ratio Rank: 28
PSWD Calmar Ratio Rank: 26
PSWD Martin Ratio Rank: 23

USNZ

USNZ Risk / Return Rank: 57
USNZ Sharpe Ratio Rank: 60
USNZ Sortino Ratio Rank: 58
USNZ Omega Ratio Rank: 57
USNZ Calmar Ratio Rank: 50
USNZ Martin Ratio Rank: 61

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PSWD vs. USNZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Cybersecurity Select Equity ETF (PSWD) and Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ). 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.

	PSWD	USNZ	Difference
Sharpe ratio: Return per unit of total volatility	0.69	1.42	-0.73
Sortino ratio: Return per unit of downside risk	1.09	2.01	-0.92
Omega ratio: Gain probability vs. loss probability	1.14	1.25	-0.11
Calmar ratio: Return relative to maximum drawdown	0.79	1.81	-1.02
Martin ratio: Return relative to average drawdown	1.78	7.42	-5.65

PSWD vs. USNZ - Sharpe Ratio Comparison

The current PSWD Sharpe Ratio is 0.69, which is lower than the USNZ Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of PSWD and USNZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PSWD vs. USNZ - Drawdown Comparison

The maximum PSWD drawdown since its inception was -23.70%, which is greater than USNZ's maximum drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for PSWD and USNZ.

Drawdown Indicators

	PSWD	USNZ	Difference
Max Drawdown Largest peak-to-trough decline	-23.70%	-19.16%	-4.54%
Max Drawdown (1Y) Largest decline over 1 year	-23.70%	-11.07%	-12.63%
Max Drawdown (3Y) Largest decline over 3 years	-23.70%	-19.16%	-4.54%
Current Drawdown Current decline from peak	-6.86%	-1.65%	-5.21%
Average Drawdown Average peak-to-trough decline	-6.43%	-3.27%	-3.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.55%	2.70%	+7.85%

Volatility

PSWD vs. USNZ - Volatility Comparison

Xtrackers Cybersecurity Select Equity ETF (PSWD) has a higher volatility of 8.88% compared to Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ) at 3.95%. This indicates that PSWD's price experiences larger fluctuations and is considered to be riskier than USNZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSWD	USNZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.88%	3.95%	+4.93%
Volatility (6M) Calculated over the trailing 6-month period	23.02%	11.34%	+11.68%
Volatility (1Y) Calculated over the trailing 1-year period	27.31%	14.11%	+13.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.05%	16.60%	+7.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.05%	16.60%	+7.45%

PSWD vs. USNZ - Expense Ratio Comparison

PSWD has a 0.20% expense ratio, which is higher than USNZ's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PSWD vs. USNZ - Dividend Comparison

PSWD's dividend yield for the trailing twelve months is around 0.62%, less than USNZ's 0.96% yield.

Position	TTM	2025	2024	2023	2022
PSWD Xtrackers Cybersecurity Select Equity ETF	0.62%	0.88%	1.49%	0.55%	0.00%
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	0.96%	1.02%	1.14%	1.19%	0.80%

Frequently Asked Questions

Can I hold both PSWD and USNZ in my portfolio?

PSWD and USNZ have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSWD or USNZ?

PSWD has higher volatility (8.88%) compared to USNZ (3.95%). In terms of maximum drawdown, PSWD dropped -23.70% vs USNZ's -19.16%.

Which ETF is better, PSWD or USNZ?

On 3-year performance, USNZ leads with 18.33% vs 17.15% for PSWD. On fees, USNZ is cheaper at 0.10% per year. On volatility, USNZ has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSWD or USNZ?

Over the 3-year period, USNZ has performed better with a 18.33% return vs 17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSWD or USNZ?

USNZ is cheaper with a 0.10% expense ratio, compared with 0.20% for PSWD.

Which ETF pays a higher dividend yield, PSWD or USNZ?

USNZ has the higher dividend yield at 0.96%, compared with 0.62% for PSWD.

What is the main difference between PSWD and USNZ?

PSWD is categorized as Technology Equities, while USNZ is Large Cap Blend Equities. PSWD tracks Solactive Cyber Security ESG Screened Index, while USNZ tracks Solactive ISS ESG United States Net Zero Pathway Enhanced Index - Benchmark TR Net. Their fees differ too: 0.20% for PSWD and 0.10% for USNZ.

Which has better risk-adjusted returns?

USNZ currently has the higher Sharpe Ratio (1.42 vs 0.69), 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.