USNZ vs. EQL

Last updated Aug 2, 2026

USNZ (Xtrackers Net Zero Pathway Paris Aligned US Equity ETF) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds - USNZ tracks the Solactive ISS ESG United States Net Zero Pathway Enhanced Index - Benchmark TR Net while EQL tracks the NYSE Equal Sector Weight Index. Both are passively managed. Over the past 3 years, USNZ returned 18.33%/yr vs 14.59%/yr for EQL. Their correlation of 0.84 means they have usually moved in the same direction. USNZ charges 0.10%/yr vs 0.27%/yr for EQL.

Performance

USNZ vs. EQL - Performance Comparison

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

Returns By Period

In the year-to-date period, USNZ achieves a 9.83% return, which is significantly lower than EQL's 10.71% return.

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%

EQL

• 1D: 0.57%
• 1M: 0.31%
• 6M: 6.82%
• YTD: 10.71%
• 1Y: 18.34%
• 3Y*: 14.59%
• 5Y*: 10.63%
• 10Y*: 12.39%
• ALL TIME*: 13.49%

*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)
EQL ALPS Equal Sector Weight ETF	$3.33M	$2.84M	$2.70M
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	$31.66K	$19.08K	$204.85K

USNZ vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	9.83%	17.76%	21.96%	27.76%	0.80%
EQL ALPS Equal Sector Weight ETF	10.71%	13.09%	16.44%	16.87%	1.40%

Correlation

The correlation between USNZ and EQL is 0.69, 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.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022	0.84

The correlation between USNZ and EQL shifts across timeframes, from 0.69 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

USNZ vs. EQL - Sectors Allocation Comparison

Sectors	USNZ	EQL
Technology	44.7%	10.2%
Communication Services	11.7%	8.9%
Healthcare	11.5%	9.4%
Financial Services	10.3%	9.1%
Consumer Cyclical	9.8%	9.6%
Industrials	3.4%	9.3%
Consumer Defensive	3.2%	8.8%
Real Estate	3.0%	8.7%
Basic Materials	1.2%	8.0%
Utilities	1.1%	9.4%
Energy	0.0%	8.7%

Return for Risk

USNZ vs. EQL — Risk / Return Rank

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

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

EQL

EQL Risk / Return Rank: 79
EQL Sharpe Ratio Rank: 80
EQL Sortino Ratio Rank: 79
EQL Omega Ratio Rank: 78
EQL Calmar Ratio Rank: 78
EQL Martin Ratio Rank: 82

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.

USNZ vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ) and ALPS Equal Sector Weight ETF (EQL). 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.

	USNZ	EQL	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.82	-0.40
Sortino ratio: Return per unit of downside risk	2.01	2.54	-0.53
Omega ratio: Gain probability vs. loss probability	1.25	1.33	-0.08
Calmar ratio: Return relative to maximum drawdown	1.81	2.78	-0.97
Martin ratio: Return relative to average drawdown	7.42	10.89	-3.47

USNZ vs. EQL - Sharpe Ratio Comparison

The current USNZ Sharpe Ratio is 1.42, which is comparable to the EQL Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of USNZ and EQL, 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

USNZ vs. EQL - Drawdown Comparison

The maximum USNZ drawdown since its inception was -19.16%, smaller than the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for USNZ and EQL.

Drawdown Indicators

	USNZ	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-35.65%	+16.49%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-6.19%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-15.07%	-4.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.24%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.65%	—
Current Drawdown Current decline from peak	-1.65%	-0.27%	-1.38%
Average Drawdown Average peak-to-trough decline	-3.27%	-3.23%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	1.58%	+1.12%

Volatility

USNZ vs. EQL - Volatility Comparison

Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ) has a higher volatility of 3.95% compared to ALPS Equal Sector Weight ETF (EQL) at 2.23%. This indicates that USNZ's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USNZ	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.23%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	7.03%	+4.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	9.50%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	14.51%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	16.49%	+0.11%

USNZ vs. EQL - Expense Ratio Comparison

USNZ has a 0.10% expense ratio, which is lower than EQL's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

USNZ vs. EQL - Dividend Comparison

USNZ's dividend yield for the trailing twelve months is around 0.96%, less than EQL's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.35%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	0.96%	1.02%	1.14%	1.19%	0.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USNZ and EQL in my portfolio?

USNZ and EQL have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USNZ or EQL?

USNZ has higher volatility (3.95%) compared to EQL (2.23%). In terms of maximum drawdown, USNZ dropped -19.16% vs EQL's -35.65%.

Which ETF is better, USNZ or EQL?

On 3-year performance, USNZ leads with 18.33% vs 14.59% for EQL. On fees, USNZ is cheaper at 0.10% per year. On volatility, EQL has been the lower-risk option at 2.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USNZ or EQL?

Over the 3-year period, USNZ has performed better with a 18.33% return vs 14.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USNZ or EQL?

USNZ is cheaper with a 0.10% expense ratio, compared with 0.27% for EQL.

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

EQL has the higher dividend yield at 1.35%, compared with 0.96% for USNZ.

What is the main difference between USNZ and EQL?

USNZ tracks Solactive ISS ESG United States Net Zero Pathway Enhanced Index - Benchmark TR Net, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: Xtrackers and SS&C. Their fees differ too: 0.10% for USNZ and 0.27% for EQL.

Which has better risk-adjusted returns?

EQL currently has the higher Sharpe Ratio (1.82 vs 1.42), 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.