The SPDR MSCI ACWI Climate Paris Aligned ETF (NASDAQ:NZAC) and the iShares MSCI ACWI ex US ETF (NASDAQ:ACWX) track global equities but follow different strategies. NZAC integrates climate-focused screening aligned with Paris Agreement goals and includes U.S. stocks, while ACWX holds only non-U.S. companies.
NZAC charges a 0.12% expense ratio, yields 1.9%, and has $182.0 million in assets under management. Its one-year return as of January 9, 2026, was 22.0%, with a beta of 1.06. The fund's five-year maximum drawdown was -28.29%, and a $1,000 investment grew to $1,501 over that period.
ACWX carries a 0.32% expense ratio, more than double that of NZAC, and yields 2.7%. It manages $8.4 billion in assets. Its one-year return was 34.2%, with a beta of 1.02. The fund's five-year maximum drawdown was -30.06%, and a $1,000 investment grew to $1,267.
NZAC tilts heavily toward technology, with 35% sector weight, and holds U.S. giants like Nvidia (NASDAQ:NVDA), Apple (NASDAQ:AAPL), and Microsoft (NASDAQ:MSFT). ACWX holds around 1,700 stocks and has operated for 17 years. Its largest sector weights are financial services at 25%, technology at 15%, and industrials at 15%. Top positions include Taiwan Semiconductor Manufacturing (NYSE:TSM), Tencent (OTC:TCEHY), and ASML Holding (NASDAQ:ASML).
Both ETFs experienced similar maximum drawdowns over the past five years. NZAC has outperformed over five years, while ACWX is much larger and more liquid.