XCH.TO vs. NZAC
XCH.TO (iShares China Index ETF) and NZAC (SPDR MSCI ACWI Climate Paris Aligned ETF) are both exchange-traded funds - XCH.TO is a China Equities fund tracking the Morningstar China GR CAD, while NZAC is a Global Equities fund tracking the MSCI ACWI Climate Paris Aligned Index. Both are passively managed. Over the past 10 years, XCH.TO returned 3.62%/yr vs 13.24%/yr for NZAC. At a 0.40 correlation, their price movements are largely independent. XCH.TO charges 0.87%/yr vs 0.12%/yr for NZAC.
Performance
XCH.TO vs. NZAC - Performance Comparison
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Different Trading Currencies
XCH.TO is traded in CAD, while NZAC is traded in USD. To make them comparable, the NZAC values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XCH.TO achieves a -6.21% return, which is significantly lower than NZAC's 8.93% return. Over the past 10 years, XCH.TO has underperformed NZAC with an annualized return of 3.62%, while NZAC has yielded a comparatively higher 13.24% annualized return.
XCH.TO
- 1D
- 1.21%
- 1M
- -3.47%
- YTD
- -6.21%
- 6M
- -7.43%
- 1Y
- 1.29%
- 3Y*
- 11.77%
- 5Y*
- -0.72%
- 10Y*
- 3.62%
NZAC
- 1D
- 0.46%
- 1M
- 1.30%
- YTD
- 8.93%
- 6M
- 9.24%
- 1Y
- 25.40%
- 3Y*
- 19.30%
- 5Y*
- 12.60%
- 10Y*
- 13.24%
XCH.TO vs. NZAC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCH.TO iShares China Index ETF | -6.21% | 22.48% | 39.50% | -14.76% | -15.40% | -20.56% | 7.17% | 8.11% | -6.28% | 27.28% |
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 8.93% | 15.05% | 26.55% | 20.29% | -14.68% | 18.29% | 14.43% | 22.96% | -2.22% | 14.61% |
Correlation
The correlation between XCH.TO and NZAC is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2014 | 0.40 |
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Return for Risk
XCH.TO vs. NZAC — Risk / Return Rank
XCH.TO
NZAC
XCH.TO vs. NZAC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Index ETF (XCH.TO) 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.
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.
| XCH.TO | NZAC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.29 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.30 | -2.34 |
| Martin ratioReturn relative to average drawdown | -0.09 | 8.41 | -8.50 |
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Drawdowns
XCH.TO vs. NZAC - Drawdown Comparison
The maximum XCH.TO drawdown since its inception was -58.02%, which is greater than NZAC's maximum drawdown of -27.89%. Use the drawdown chart below to compare losses from any high point for XCH.TO and NZAC.
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Drawdown Indicators
| XCH.TO | NZAC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.02% | -27.89% | -30.13% |
Max Drawdown (1Y)Largest decline over 1 year | -16.51% | -10.14% | -6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -27.28% | -16.47% | -10.81% |
Max Drawdown (5Y)Largest decline over 5 years | -50.32% | -23.56% | -26.76% |
Max Drawdown (10Y)Largest decline over 10 years | -58.02% | -27.89% | -30.13% |
Current DrawdownCurrent decline from peak | -21.70% | -1.76% | -19.94% |
Average DrawdownAverage peak-to-trough decline | -20.40% | -4.12% | -16.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.55% | 2.77% | +5.78% |
Volatility
XCH.TO vs. NZAC - Volatility Comparison
iShares China Index ETF (XCH.TO) has a higher volatility of 5.94% compared to SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) at 5.20%. This indicates that XCH.TO'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
| XCH.TO | NZAC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 5.20% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 11.43% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.18% | 13.96% | +5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.79% | 17.90% | +11.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.71% | 18.16% | +7.55% |
XCH.TO vs. NZAC - Expense Ratio Comparison
XCH.TO has a 0.87% expense ratio, which is higher than NZAC's 0.12% expense ratio.
Dividends
XCH.TO vs. NZAC - Dividend Comparison
XCH.TO's dividend yield for the trailing twelve months is around 2.25%, more than NZAC's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF | 2.08% | 1.90% | 1.88% | 1.65% | 1.81% | 1.62% | 1.59% | 2.17% | 2.53% | 2.20% | 2.00% | 2.40% |
XCH.TO iShares China Index ETF | 2.25% | 2.11% | 1.54% | 2.86% | 2.35% | 1.51% | 2.17% | 2.50% | 2.45% | 2.41% | 2.21% | 2.58% |
Frequently Asked Questions
XCH.TO and NZAC have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NZAC is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NZAC is cheaper with a 0.12% expense ratio, compared with 0.87% for XCH.TO.
XCH.TO is categorized as China Equities, while NZAC is Global Equities. XCH.TO tracks Morningstar China GR CAD, while NZAC tracks MSCI ACWI Climate Paris Aligned Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.87% for XCH.TO and 0.12% for NZAC.
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