USNZ vs. PSWD

Last updated Aug 2, 2026

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

Performance

USNZ vs. PSWD - 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 Xtrackers Cybersecurity Select Equity ETF (PSWD). 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 PSWD's 26.31% 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%

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%

*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

USNZ vs. PSWD - Yearly Performance Comparison

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

Correlation

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

USNZ vs. PSWD - Sectors Allocation Comparison

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

Return for Risk

USNZ vs. PSWD — 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

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

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

USNZ vs. PSWD - Sharpe Ratio Comparison

The current USNZ Sharpe Ratio is 1.42, which is higher than the PSWD Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of USNZ and PSWD, 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. PSWD - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

USNZ vs. PSWD - Volatility Comparison

The current volatility for Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ) is 3.95%, while Xtrackers Cybersecurity Select Equity ETF (PSWD) has a volatility of 8.88%. This indicates that USNZ experiences smaller price fluctuations and is considered to be less risky than PSWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

USNZ vs. PSWD - Expense Ratio Comparison

USNZ has a 0.10% expense ratio, which is lower than PSWD's 0.20% 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. PSWD - Dividend Comparison

USNZ's dividend yield for the trailing twelve months is around 0.96%, more than PSWD's 0.62% 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 USNZ and PSWD in my portfolio?

USNZ and PSWD 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, USNZ or PSWD?

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

Which ETF is better, USNZ or PSWD?

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, USNZ or PSWD?

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, USNZ or PSWD?

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

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

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

What is the main difference between USNZ and PSWD?

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

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.