VXUS vs. NZAC

Last updated Jun 4, 2026

VXUS (Vanguard Total International Stock ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both Global Equities funds - VXUS tracks the FTSE Global All Cap ex US Index while NZAC tracks the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 10 years, VXUS returned 9.76%/yr vs 12.16%/yr for NZAC. Their correlation of 0.81 suggests significant overlap in exposure. VXUS charges 0.05%/yr vs 0.12%/yr for NZAC.

Performance

VXUS vs. NZAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Stock ETF (VXUS) and SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VXUS achieves a 14.25% return, which is significantly higher than NZAC's 8.83% return. Over the past 10 years, VXUS has underperformed NZAC with an annualized return of 9.76%, while NZAC has yielded a comparatively higher 12.16% annualized return.

VXUS

• 1D: -0.99%
• 1M: 4.68%
• YTD: 14.25%
• 6M: 16.92%
• 1Y: 32.01%
• 3Y*: 19.30%
• 5Y*: 8.46%
• 10Y*: 9.76%

NZAC

• 1D: -0.82%
• 1M: 4.49%
• YTD: 8.83%
• 6M: 9.51%
• 1Y: 24.74%
• 3Y*: 19.06%
• 5Y*: 9.88%
• 10Y*: 12.16%

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

VXUS vs. NZAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VXUS Vanguard Total International Stock ETF	14.25%	32.35%	5.08%	15.86%	-16.08%	8.98%	10.66%	21.75%	-14.43%	27.46%
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF	8.83%	20.55%	16.67%	23.22%	-19.77%	18.35%	17.21%	28.24%	-9.80%	22.93%

Correlation

The correlation between VXUS and NZAC is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 28, 2014	0.81

The correlation between VXUS and NZAC has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

VXUS vs. NZAC - Sectors Allocation Comparison

Sectors	VXUS	NZAC
Financial Services	22.3%	13.1%
Technology	18.1%	34.3%
Industrials	16.1%	7.3%
Consumer Cyclical	8.4%	8.2%
Basic Materials	7.6%	1.9%
Healthcare	7.1%	7.8%
Energy	5.2%	1.2%
Consumer Defensive	5.0%	1.0%
Communication Services	4.4%	8.5%
Utilities	3.2%	1.4%
Real Estate	2.6%	5.2%

Return for Risk

VXUS vs. NZAC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VXUS

VXUS Risk / Return Rank: 60
VXUS Sharpe Ratio Rank: 61
VXUS Sortino Ratio Rank: 60
VXUS Omega Ratio Rank: 62
VXUS Calmar Ratio Rank: 56
VXUS Martin Ratio Rank: 61

NZAC

NZAC Risk / Return Rank: 56
NZAC Sharpe Ratio Rank: 56
NZAC Sortino Ratio Rank: 57
NZAC Omega Ratio Rank: 55
NZAC Calmar Ratio Rank: 49
NZAC Martin Ratio Rank: 60

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.

VXUS vs. NZAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Stock ETF (VXUS) 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.

	VXUS	NZAC	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.92	+0.20
Sortino ratio: Return per unit of downside risk	2.90	2.71	+0.19
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	2.85	2.46	+0.39
Martin ratio: Return relative to average drawdown	11.14	10.68	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VXUS vs. NZAC - Sharpe Ratio Comparison

The current VXUS Sharpe Ratio is 2.12, which is comparable to the NZAC Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of VXUS 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.

Sharpe Ratios by Period

	VXUS	NZAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	1.92	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.59	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.71	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.61	-0.23

Drawdowns

VXUS vs. NZAC - Drawdown Comparison

The maximum VXUS drawdown since its inception was -35.97%, which is greater than NZAC's maximum drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for VXUS and NZAC.

Drawdown Indicators

	VXUS	NZAC	Difference
Max Drawdown Largest peak-to-trough decline	-35.97%	-33.72%	-2.25%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-10.10%	-1.17%
Max Drawdown (3Y) Largest decline over 3 years	-13.58%	-16.19%	+2.61%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-28.31%	-1.13%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-33.72%	-2.25%
Current Drawdown Current decline from peak	-0.99%	-0.82%	-0.17%
Average Drawdown Average peak-to-trough decline	-8.22%	-5.32%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	2.32%	+0.56%

Volatility

VXUS vs. NZAC - Volatility Comparison

Vanguard Total International Stock ETF (VXUS) has a higher volatility of 5.60% compared to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) at 3.72%. This indicates that VXUS'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.

Volatility by Period

	VXUS	NZAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.60%	3.72%	+1.88%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	10.34%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.21%	12.94%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	16.81%	-0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	17.14%	+0.02%

VXUS vs. NZAC - Expense Ratio Comparison

VXUS has a 0.05% expense ratio, which is lower than NZAC's 0.12% 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

VXUS vs. NZAC - Dividend Comparison

VXUS's dividend yield for the trailing twelve months is around 2.66%, more than NZAC's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF	2.04%	1.90%	1.88%	1.65%	1.81%	1.62%	1.59%	2.17%	2.53%	2.20%	2.00%	2.40%
VXUS Vanguard Total International Stock ETF	2.66%	3.18%	3.37%	3.24%	3.09%	3.10%	2.14%	3.06%	3.18%	2.73%	2.93%	2.83%

Frequently Asked Questions

Can I hold both VXUS and NZAC in my portfolio?

VXUS and NZAC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VXUS or NZAC?

VXUS has higher volatility (5.60%) compared to NZAC (3.72%). In terms of maximum drawdown, VXUS dropped -35.97% vs NZAC's -33.72%.

Which ETF is better, VXUS or NZAC?

On 10-year performance, NZAC leads with 12.16% vs 9.76% for VXUS. On fees, VXUS is cheaper at 0.05% per year. On volatility, NZAC has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VXUS or NZAC?

Over the 10-year period, NZAC has performed better with a 12.16% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VXUS or NZAC?

VXUS is cheaper with a 0.05% expense ratio, compared with 0.12% for NZAC.

Which ETF pays a higher dividend yield, VXUS or NZAC?

VXUS has the higher dividend yield at 2.66%, compared with 2.04% for NZAC.

What is the main difference between VXUS and NZAC?

VXUS tracks FTSE Global All Cap ex US Index, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.05% for VXUS and 0.12% for NZAC.

Which has better risk-adjusted returns?

VXUS currently has the higher Sharpe Ratio (2.12 vs 1.92), 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.