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SDG vs. NZAC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SDG vs. NZAC

Last updated Jun 5, 2026

SDG (iShares MSCI Global Sustainable Development Goals ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - SDG tracks the MSCI ACWI Sustainable Development Index while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 10 years, SDG returned 8.52%/yr vs 12.11%/yr for NZAC. A 0.75 correlation means they provide meaningful diversification when combined. SDG charges 0.50%/yr vs 0.12%/yr for NZAC.

Performance

SDG vs. NZAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Sustainable Development Goals ETF (SDG) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SDG achieves a 10.59% return, which is significantly higher than NZAC's 9.25% return. Over the past 10 years, SDG has underperformed NZAC with an annualized return of 8.52%, while NZAC has yielded a comparatively higher 12.11% annualized return.

SDG

1D
0.64%
1M
4.06%
YTD
10.59%
6M
10.55%
1Y
25.38%
3Y*
7.92%
5Y*
0.79%
10Y*
8.52%

NZAC

1D
0.39%
1M
3.97%
YTD
9.25%
6M
9.90%
1Y
24.37%
3Y*
19.42%
5Y*
9.97%
10Y*
12.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SDG vs. NZAC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SDG
iShares MSCI Global Sustainable Development Goals ETF		10.59%20.19%-10.09%4.59%-11.51%-1.20%44.36%25.38%-8.32%27.28%
NZAC
SPDR MSCI ACWI Climate Paris Aligned ETF		9.25%20.55%16.67%23.22%-19.77%18.35%17.21%28.24%-9.80%22.93%

Correlation

The correlation between SDG and NZAC is 0.77, 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

0.77

Correlation (3Y)
Calculated over the trailing 3-year period

0.72

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (10Y)
Calculated over the trailing 10-year period

0.75

Correlation (All Time)
Calculated using the full available price history since Apr 25, 2016

0.75

The correlation between SDG and NZAC has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Global Sustainable Development Goals ETF

SPDR MSCI ACWI Climate Paris Aligned ETF

Often compared with SDG:
SDG vs. ICLNSDG vs. ESGDSDG vs. RINGSDG vs. LCTDSDG vs. XVVSDG vs. SCHDSDG vs. EFG
Often compared with NZAC:
NZAC vs. SPYNZAC vs. VOONZAC vs. ESGENZAC vs. GABFNZAC vs. VTNZAC vs. QWLDNZAC vs. FXAIX

Return for Risk

SDG vs. NZAC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SDG
SDG Risk / Return Rank: 5555
Overall Rank
SDG Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
SDG Sortino Ratio Rank: 5151
Sortino Ratio Rank
SDG Omega Ratio Rank: 5252
Omega Ratio Rank
SDG Calmar Ratio Rank: 6060
Calmar Ratio Rank
SDG Martin Ratio Rank: 6161
Martin Ratio Rank
NZAC
NZAC Risk / Return Rank: 5656
Overall Rank
NZAC Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
NZAC Sortino Ratio Rank: 5757
Sortino Ratio Rank
NZAC Omega Ratio Rank: 5555
Omega Ratio Rank
NZAC Calmar Ratio Rank: 5050
Calmar Ratio Rank
NZAC Martin Ratio Rank: 6060
Martin Ratio Rank
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.

SDG vs. NZAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Sustainable Development Goals ETF (SDG) 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.

SDGNZACDifference
Sharpe ratioReturn per unit of total volatility
1.77
1.89

-0.12

Sortino ratioReturn per unit of downside risk
2.47
2.68

-0.21

Omega ratioGain probability vs. loss probability

1.32

1.34

-0.02

Calmar ratioReturn relative to maximum drawdown

2.94

2.42

+0.51

Martin ratioReturn relative to average drawdown

10.77

10.52

+0.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SDG vs. NZAC - Sharpe Ratio Comparison

The current SDG Sharpe Ratio is 1.77, which is comparable to the NZAC Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SDG and NZAC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SDGNZACDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

1.89

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

0.60

-0.55

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.71

-0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.62

-0.10

Drawdowns

SDG vs. NZAC - Drawdown Comparison

The maximum SDG drawdown since its inception was -30.35%, smaller than the maximum NZAC drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for SDG and NZAC.

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Drawdown Indicators

SDGNZACDifference

Max Drawdown

Largest peak-to-trough decline

-30.35%

-33.72%

+3.37%

Max Drawdown (1Y)

Largest decline over 1 year

-8.68%

-10.10%

+1.42%

Max Drawdown (3Y)

Largest decline over 3 years

-22.92%

-16.19%

-6.73%

Max Drawdown (5Y)

Largest decline over 5 years

-30.35%

-28.31%

-2.04%

Max Drawdown (10Y)

Largest decline over 10 years

-30.35%

-33.72%

+3.37%

Current Drawdown

Current decline from peak

0.00%

-0.43%

+0.43%

Average Drawdown

Average peak-to-trough decline

-9.66%

-5.32%

-4.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.36%

2.32%

+0.04%

Volatility

SDG vs. NZAC - Volatility Comparison

iShares MSCI Global Sustainable Development Goals ETF (SDG) has a higher volatility of 5.27% compared to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) at 3.65%. This indicates that SDG'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

SDGNZACDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.27%

3.65%

+1.62%

Volatility (6M)

Calculated over the trailing 6-month period

11.08%

10.35%

+0.73%

Volatility (1Y)

Calculated over the trailing 1-year period

14.42%

12.94%

+1.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.63%

16.81%

-1.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.68%

17.14%

-0.46%

SDG vs. NZAC - Expense Ratio Comparison

SDG has a 0.50% expense ratio, which is higher than NZAC's 0.12% expense ratio.

Dividends

SDG vs. NZAC - Dividend Comparison

SDG's dividend yield for the trailing twelve months is around 1.81%, less than NZAC's 2.03% yield.

PositionTTM20252024202320222021202020192018201720162015
NZAC
SPDR MSCI ACWI Climate Paris Aligned ETF		2.03%1.90%1.88%1.65%1.81%1.62%1.59%2.17%2.53%2.20%2.00%2.40%
SDG
iShares MSCI Global Sustainable Development Goals ETF		1.81%2.00%1.95%1.77%1.82%1.66%0.97%1.39%2.47%2.54%1.34%0.00%

Frequently Asked Questions

SDG and NZAC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SDG has higher volatility (5.27%) compared to NZAC (3.65%). In terms of maximum drawdown, SDG dropped -30.35% vs NZAC's -33.72%.

On 10-year performance, NZAC leads with 12.11% vs 8.52% for SDG. On fees, NZAC is cheaper at 0.12% per year. On volatility, NZAC has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, NZAC has performed better with a 12.11% return vs 8.52%. 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 SDG.

NZAC has the higher dividend yield at 2.03%, compared with 1.81% for SDG.

SDG tracks MSCI ACWI Sustainable Development Index, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.50% for SDG and 0.12% for NZAC.

NZAC currently has the higher Sharpe Ratio (1.89 vs 1.77), 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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