USNZ vs. TDVG

Last updated Aug 2, 2026

USNZ (Xtrackers Net Zero Pathway Paris Aligned US Equity ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Blend Equities funds. USNZ is passively managed, while TDVG is actively managed. Over the past 3 years, USNZ returned 18.33%/yr vs 14.55%/yr for TDVG. Their correlation of 0.84 means they have usually moved in the same direction. USNZ charges 0.10%/yr vs 0.50%/yr for TDVG.

Performance

USNZ vs. TDVG - 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 T. Rowe Price Dividend Growth ETF (TDVG). 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 TDVG's 10.93% 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%

TDVG

• 1D: -0.24%
• 1M: 0.47%
• 6M: 9.09%
• YTD: 10.93%
• 1Y: 19.23%
• 3Y*: 14.55%
• 5Y*: 10.00%
• 10Y*: —
• ALL TIME*: 13.28%

*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)
TDVG T. Rowe Price Dividend Growth ETF	$2.11M	$3.07M	$2.63M
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	$31.66K	$19.08K	$204.85K

USNZ vs. TDVG - 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%
TDVG T. Rowe Price Dividend Growth ETF	10.93%	14.80%	13.45%	13.95%	4.49%

Correlation

The correlation between USNZ and TDVG is 0.72, 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.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022	0.84

The correlation between USNZ and TDVG shifts across timeframes, from 0.72 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

USNZ vs. TDVG - Sectors Allocation Comparison

Sectors	USNZ	TDVG
Technology	44.7%	27.4%
Communication Services	11.7%	0.8%
Healthcare	11.5%	12.8%
Financial Services	10.3%	19.3%
Consumer Cyclical	9.8%	6.7%
Industrials	3.4%	14.4%
Consumer Defensive	3.2%	6.6%
Real Estate	3.0%	1.5%
Basic Materials	1.2%	2.8%
Utilities	1.1%	3.2%
Energy	0.0%	4.5%

Return for Risk

USNZ vs. TDVG — 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

TDVG

TDVG Risk / Return Rank: 80
TDVG Sharpe Ratio Rank: 82
TDVG Sortino Ratio Rank: 83
TDVG Omega Ratio Rank: 80
TDVG Calmar Ratio Rank: 73
TDVG Martin Ratio Rank: 81

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. TDVG - 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 T. Rowe Price Dividend Growth ETF (TDVG). 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	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.87	-0.45
Sortino ratio: Return per unit of downside risk	2.01	2.69	-0.67
Omega ratio: Gain probability vs. loss probability	1.25	1.34	-0.09
Calmar ratio: Return relative to maximum drawdown	1.81	2.51	-0.70
Martin ratio: Return relative to average drawdown	7.42	10.48	-3.05

USNZ vs. TDVG - Sharpe Ratio Comparison

The current USNZ Sharpe Ratio is 1.42, which is comparable to the TDVG Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of USNZ and TDVG, 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. TDVG - Drawdown Comparison

The maximum USNZ drawdown since its inception was -19.16%, roughly equal to the maximum TDVG drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for USNZ and TDVG.

Drawdown Indicators

	USNZ	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-19.16%	-19.20%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-7.24%	-3.83%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-14.02%	-5.14%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.20%	—
Current Drawdown Current decline from peak	-1.65%	-0.92%	-0.73%
Average Drawdown Average peak-to-trough decline	-3.27%	-3.67%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	1.73%	+0.97%

Volatility

USNZ vs. TDVG - Volatility Comparison

Xtrackers Net Zero Pathway Paris Aligned US Equity ETF (USNZ) has a higher volatility of 3.95% compared to T. Rowe Price Dividend Growth ETF (TDVG) at 2.20%. This indicates that USNZ's price experiences larger fluctuations and is considered to be riskier than TDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USNZ	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.20%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	11.34%	7.30%	+4.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	9.74%	+4.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.60%	13.87%	+2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.60%	13.81%	+2.79%

USNZ vs. TDVG - Expense Ratio Comparison

USNZ has a 0.10% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

USNZ vs. TDVG - Dividend Comparison

USNZ's dividend yield for the trailing twelve months is around 0.96%, which matches TDVG's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
TDVG T. Rowe Price Dividend Growth ETF	0.96%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF	0.96%	1.02%	1.14%	1.19%	0.80%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USNZ and TDVG in my portfolio?

USNZ and TDVG have a correlation of 0.72, 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 TDVG?

USNZ has higher volatility (3.95%) compared to TDVG (2.20%). In terms of maximum drawdown, USNZ dropped -19.16% vs TDVG's -19.20%.

Which ETF is better, USNZ or TDVG?

On 3-year performance, USNZ leads with 18.33% vs 14.55% for TDVG. On fees, USNZ is cheaper at 0.10% per year. On volatility, TDVG has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USNZ or TDVG?

Over the 3-year period, USNZ has performed better with a 18.33% return vs 14.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USNZ or TDVG?

USNZ is cheaper with a 0.10% expense ratio, compared with 0.50% for TDVG.

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

USNZ and TDVG have nearly identical dividend yields, around 0.96%.

What is the main difference between USNZ and TDVG?

They also come from different issuers: Xtrackers and T. Rowe Price. Their fees differ too: 0.10% for USNZ and 0.50% for TDVG.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.87 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.