NZAC vs SPYV: Grades, Fees and Holdings Compared

State Street SPDR MSCI ACWI Climate Paris Aligned ETF

NZACBNasdaq

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

33.5%by weight

Expense ratio

SPYV −0.08pt a year

NZAC0.12%SPYV0.04%

Avg volume · 30D

SPYV 397.7×the volume

NZAC5.76KSPYV2.29M

10Y return · a year

SPYV +0.3pt

NZAC+11.8%SPYV+12.1%

NZAC vs SPYV Performance

Nov 9, 2021 – Nov 9, 2026

+49.4%NZAC+71.8%SPYV

Expense ratio: NZAC 0.12%; SPYV 0.04%, better
Fund size: NZAC $188M; SPYV $37.9B
1Y total return: NZAC +9.7%; SPYV +17.6%, better
Yield (12M): NZAC 2.06%, better; SPYV 1.64%
Holdings: NZAC 644; SPYV 436
Avg volume (30D): NZAC 5.76K sh; SPYV 2.29M sh, better
NAV per share: NZAC $44.72; SPYV $63.09
52W range

ETF.net Grade

Pillar letters and Scores for NZAC, SPYV, with each pillar’s weight
Pillar	NZAC	SPYV
Cost30% weight	A70	A98Higher
Mission25% weight	Not scored	A87
Risk15% weight	B62	A84Higher
Tradability15% weight	D34	A97Higher
Holdings10% weight	B65	A72Higher
Durability5% weight	A72	A86Higher

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. NZAC and SPYV are both graded against the same 41 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 41 funds

See all 41 ›

SPYV ranks 1st and NZAC 19th of 41 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 18BFINAFidelity MSCI North American Subset Index ETFScore 64
Rank 19BNZACState Street SPDR MSCI ACWI Climate Paris Aligned ETFScore 60
Rank 20BSPUSSP Funds S&P 500 Sharia Industry Exclusions ETFScore 57

Our read on each fund

ETF.net Research

NZACBState Street SPDR MSCI ACWI Climate Paris Aligned ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

NZAC A whole-world stock index fund with a climate filter baked in: large and mid caps across developed and emerging markets, screened for climate risk, at 0.12% a year. A Paris-aligned mandate priced like plain vanilla.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

NZAC The fund seeks to track the MSCI ACWI Climate Paris Aligned Index, an equity index covering large- and mid-cap companies in developed and emerging markets. Its methodology is designed to reduce physical and transition climate risks and increase exposure to opportunities from the transition to a lower-carbon economy.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

NZAC Charges 0.12% a year against a 0.45% median for its index-fund cohort. The climate screen arrives without the boutique price tag that usually rides along.
One ticket, roughly 600 large and mid caps across developed and emerging markets. The screen runs across the whole global opportunity set, not just the US slice.
The portfolio matches the label. MSCI's methodology targets lower physical and transition climate risk, and this is one of the cleaner implementations among index wrappers.

SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

NZAC Thinly traded next to the giants of its cohort, so the gap between bid and ask can be wider at the moment you trade.
Unscreened global index funds go cheaper: VT runs 0.06%. The climate methodology is what the fee difference buys.
An exclusionary approach reshapes sector and country weights, so results can drift from a plain global index in either direction. Cash comes back once or twice a year, not monthly.

SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
Distributions land quarterly, not monthly.

Full NZAC profile⁠

Full SPYV profile⁠

NZAC vs SPYV Holdings

How NZAC and SPYV differ

Overlap by weight

33.5%

Shared holdings make up 58.8% of SPYV and 40.0% of NZAC.

Level by level

Holdings179 in both33.5%
Countryby domicile66.8%
Sector11 Sectors75.1%
Asset classStocks100%

Sector

Sector weights in NZAC and SPYV, widest gap first
Sector	Gap	NZAC	SPYV
Technology	NZAC +14.7 points	33.5%	18.8%
Consumer Staples	SPYV +8.5 points	1.1%	9.6%
Energy	SPYV +7.5 points	0.0%	7.5%
Communication	NZAC +4.5 points	7.2%	2.7%
Real Estate	NZAC +3.3 points	6.5%	3.2%
Health Care	SPYV +3.2 points	10.6%	13.8%
Financials	NZAC +2.5 points	18.2%	15.7%
Industrials	SPYV +2.0 points	8.9%	10.9%
Consumer Discretionary	SPYV +1.8 points	8.3%	10.1%
Materials	SPYV +1.2 points	2.2%	3.4%
Utilities	SPYV +0.7 points	3.5%	4.2%

Country, concentration and asset class

Country by domicile

Country weights in NZAC and SPYV, widest gap first
Country	Gap	NZAC	SPYV
United States	SPYV +33.2 points	66.0%	99.2%
Canada	NZAC +4.5 points	4.5%	0.0%
Japan	NZAC +3.5 points	3.5%	0.0%
Taiwan	NZAC +2.8 points	2.8%	0.0%
Switzerland	NZAC +2.6 points	3.2%	0.6%
United Kingdom	NZAC +2.2 points	2.3%	0.1%
France	NZAC +2.1 points	2.1%	0.0%
China	NZAC +1.9 points	2.0%	0.1%
Other countries (27)	NZAC +13.5 points	13.6%	0.1%

Outside the US: NZAC 72% developed, 28% emerging.

Concentration

Weight in the 10 largest Holdings

NZAC27.9%
SPYV24.4%

Securities held

NZAC611
SPYV434

Asset class

NZAC: Stocks
SPYV: Stocks

Holdings

Only in NZAC432
In both179
Only in SPYV255

Only in NZAC

432 securities, 58.9% of NZAC by weight

NVIDIA Corp5.53%
Microsoft Corp4.33%
Alphabet Inc Class C1.98%
Taiwan Semiconductor Manufac1.70%
Broadcom Inc1.49%
Meta Platforms Inc Class A1.49%
Eli Lilly & Co1.40%
Alphabet Inc Class A1.31%
Advanced Micro Devices1.15%
Sap SE0.70%
Royal Bank of Canada0.68%
Schneider Electric SE0.61%
Ferrovial NV0.57%
Micron Technology Inc0.56%
Asml Holding NV0.56%
Novartis AG Reg0.54%
Wheaton Precious Metals Corp0.50%
East Japan Railway Co0.47%
Transurban Group0.44%
Roche Holding AG0.41%
Central Japan Railway Co0.40%
Vestas Wind Systems A/S0.40%
Tencent Holdings Ltd0.40%
Royalty Pharma PLC Class A0.38%
First Solar Inc0.38%
Abb Ltd Reg0.37%
Sk Hynix Inc0.37%
Astrazeneca PLC0.35%
Palantir Technologies Inc A0.34%
Toronto Dominion Bank0.34%
Netflix Inc0.32%
Terna Rete Elettrica Naziona0.31%
United Utilities Group PLC0.31%
Segro PLC0.30%
Nordea Bank Abp0.30%
Aena Sme SA0.29%
Quanta Services Inc0.28%
Kla Corp0.28%
Hydro One Ltd0.28%
Dollarama Inc0.27%
Scentre Group0.26%
Swiss Prime Site Reg0.26%
Samsung Electronics Co Ltd0.25%
Agnico Eagle Mines Ltd0.25%
Severn Trent PLC0.24%
Swisscom AG Reg0.24%
Lam Research Corp0.24%
Dassault Systemes SE0.24%
Power Corp of Canada0.24%
3I Group PLC0.24%

Only in SPYV

255 securities, 41.2% of SPYV by weight

Exxonmobil Holdings Corp2.28%
Costco Wholesale Corp1.56%
Chevron Corp1.40%
Procter & Gamble Co/The1.28%
Linde PLC0.79%
Coca Cola Co/The0.72%
Pepsico Inc0.64%
Abbott Laboratories0.64%
Nextera Energy Inc0.61%
Union Pacific Corp0.58%
Deere & Co0.56%
Conocophillips0.55%
General Electric0.54%
Philip Morris International0.45%
Eaton Corp PLC0.44%
Altria Group Inc0.42%
Lowe’s Cos Inc0.42%
Medtronic PLC0.42%
Mckesson Corp0.41%
Lockheed Martin Corp0.38%
Cvs Health Corp0.36%
Southern Co/The0.35%
Marathon Petroleum Corp0.35%
Valero Energy Corp0.33%
Duke Energy Corp0.33%
Dell Technologies C0.33%
Phillips 660.33%
3M Co0.32%
Western Digital Corp0.32%
Moderna Inc0.32%
Elevance Health Inc0.31%
Csx Corp0.30%
Emerson Electric Co0.30%
Comcast Corp Class A0.29%
Synopsys Inc0.29%
Freeport Mcmoran Inc0.28%
Mondelez International Inc A0.28%
United Parcel Service Class B0.27%
Williams Cos Inc0.26%
The Cigna Group0.26%
Eog Resources Inc0.26%
Colgate Palmolive Co0.26%
Boeing Co/The0.26%
General Motors Co0.25%
Slb Ltd0.25%
Illinois Tool Works0.24%
Target Corp0.24%
Norfolk Southern Corp0.24%
Northrop Grumman Corp0.23%
Honeywell International Inc0.23%

Weight gaps

The 100 widest of 179 Holdings in both funds.

Holding weights in NZAC and SPYV, widest gap first
Holding	Gap	NZAC	SPYV
Apple IncAAPL	SPYV +2.64 points	5.71%	8.35%
Walmart IncWMT	SPYV +1.81 points	0.06%	1.87%
Amazon.com IncAMZN	SPYV +1.36 points	2.64%	4.00%
Digital Realty Trust IncDLR	NZAC +0.96 points	1.16%	0.20%
UnitedHealth Group IncUNH	SPYV +0.92 points	0.26%	1.18%
Home Depot IncHD	SPYV +0.78 points	0.36%	1.14%
Bank of America CorpBAC	SPYV +0.68 points	0.39%	1.07%
Equinix IncEQIX	NZAC +0.66 points	0.99%	0.33%
Citigroup IncC	SPYV +0.65 points	0.02%	0.67%
Merck & Co. Inc.MRK	SPYV +0.61 points	0.60%	1.21%
Wells Fargo & CoWFC	SPYV +0.61 points	0.24%	0.85%
Intel CorpINTC	SPYV +0.59 points	0.34%	0.93%
Texas Instruments IncTXN	SPYV +0.54 points	0.31%	0.85%
Thermo Fisher Scientific IncTMO	SPYV +0.50 points	0.36%	0.86%
Walt Disney Co/TheDIS	SPYV +0.46 points	0.21%	0.67%
Marvell Technology IncMRVL	NZAC +0.45 points	0.67%	0.22%
Verizon Communications IncVZ	SPYV +0.44 points	0.19%	0.63%
AbbVie IncABBV	SPYV +0.43 points	0.50%	0.93%
Xylem IncXYL	NZAC +0.40 points	0.48%	0.08%
Edison InternationalEIX	NZAC +0.38 points	0.46%	0.08%
Sherwin Williams Co/TheSHW	NZAC +0.38 points	0.64%	0.26%
Pfizer IncPFE	SPYV +0.37 points	0.19%	0.56%
Qualcomm IncQCOM	SPYV +0.36 points	0.23%	0.59%
At+t IncT	SPYV +0.35 points	0.15%	0.50%
Vertex Pharmaceuticals IncVRTX	SPYV +0.32 points	0.14%	0.46%
Danaher CorpDHR	SPYV +0.32 points	0.16%	0.48%
Schwab (Charles) CorpSCHW	SPYV +0.32 points	0.18%	0.50%
BlackRock IncBLK	SPYV +0.31 points	0.26%	0.57%
Accenture PLC Class AACN	SPYV +0.29 points	0.24%	0.53%
Tesla IncTSLA	NZAC +0.30 points	1.58%	1.28%
JPMorgan Chase & CoJPM	NZAC +0.29 points	1.24%	0.95%
Starbucks CorpSBUX	SPYV +0.28 points	0.12%	0.40%
American Water Works Co IncAWK	NZAC +0.25 points	0.35%	0.10%
Waste Management IncWM	SPYV +0.25 points	0.04%	0.29%
Automatic Data ProcessingADP	SPYV +0.22 points	0.17%	0.40%
Intl Business Machines CorpIBM	NZAC +0.23 points	0.60%	0.37%
Visa Inc Class A SharesV	SPYV +0.22 points	0.86%	1.08%
Cintas CorpCTAS	SPYV +0.23 points	0.03%	0.26%
Gilead Sciences IncGILD	SPYV +0.22 points	0.10%	0.32%
Salesforce IncCRM	SPYV +0.21 points	0.37%	0.58%
American Tower CorpAMT	SPYV +0.20 points	0.09%	0.29%
Intercontinental Exchange InICE	SPYV +0.20 points	0.12%	0.32%
Servicenow IncNOW	NZAC +0.20 points	0.34%	0.14%
Bristol Myers Squibb CoBMY	SPYV +0.20 points	0.22%	0.42%
Capital One Financial CorpCOF	SPYV +0.19 points	0.22%	0.41%
Regeneron PharmaceuticalsREGN	SPYV +0.20 points	0.10%	0.30%
Nxp Semiconductors NVNXPI	SPYV +0.20 points	0.01%	0.21%
Prologis IncPLD	SPYV +0.19 points	0.21%	0.40%
Ecolab IncECL	SPYV +0.19 points	0.06%	0.25%
Blackstone IncBX	SPYV +0.19 points	0.11%	0.30%
T Mobile Us IncTMUS	SPYV +0.19 points	0.07%	0.26%
Us BancorpUSB	SPYV +0.19 points	0.12%	0.31%
Palo Alto Networks IncPANW	SPYV +0.19 points	0.19%	0.38%
Ebay IncEBAY	NZAC +0.19 points	0.23%	0.04%
Arthur J Gallagher & CoAJG	SPYV +0.18 points	0.06%	0.24%
Adobe IncADBE	SPYV +0.18 points	0.14%	0.32%
Marsh & Mclennan CosMRSH	SPYV +0.18 points	0.15%	0.33%
Chubb LtdCB	SPYV +0.18 points	0.25%	0.43%
F5 IncFFIV	NZAC +0.17 points	0.23%	0.06%
American Express CoAXP	NZAC +0.16 points	0.34%	0.18%
Aon PLC Class AAON	SPYV +0.16 points	0.08%	0.24%
Block IncXYZ	SPYV +0.14 points	0.01%	0.15%
Roper Technologies IncROP	SPYV +0.14 points	0.02%	0.16%
Goldman Sachs Group IncGS	SPYV +0.13 points	0.16%	0.29%
Exelon CorpEXC	NZAC +0.13 points	0.29%	0.16%
Pnc Financial Services GroupPNC	SPYV +0.13 points	0.17%	0.30%
Vivmark ResidentialVMRK	NZAC +0.13 points	0.29%	0.16%
Realty Income CorpO	SPYV +0.13 points	0.06%	0.19%
State Street CorpSTT	SPYV +0.12 points	0.03%	0.15%
Tjx Companies IncTJX	NZAC +0.12 points	0.34%	0.22%
Autodesk IncADSK	NZAC +0.11 points	0.19%	0.08%
Nasdaq IncNDAQ	SPYV +0.11 points	0.05%	0.16%
Chipotle Mexican Grill IncCMG	SPYV +0.11 points	0.04%	0.15%
Vulcan Materials CoVMC	SPYV +0.11 points	0.01%	0.12%
Waters CorpWAT	SPYV +0.10 points	0.05%	0.15%
Crown Castle IncCCI	SPYV +0.11 points	0.02%	0.13%
Public StoragePSA	SPYV +0.10 points	0.09%	0.19%
Mastercard Inc AMA	NZAC +0.10 points	0.68%	0.58%
Agilent Technologies IncA	SPYV +0.09 points	0.07%	0.16%
PayPal Holdings IncPYPL	SPYV +0.10 points	0.07%	0.17%
Analog Devices IncADI	NZAC +0.10 points	0.69%	0.59%
Huntington Bancshares IncHBAN	SPYV +0.09 points	0.01%	0.10%
Old Dominion Freight LineODFL	SPYV +0.08 points	0.02%	0.10%
Airbnb Inc Class AABNB	SPYV +0.09 points	0.05%	0.14%
Extra Space Storage IncEXR	SPYV +0.08 points	0.03%	0.11%
Stryker CorpSYK	SPYV +0.08 points	0.14%	0.22%
McDonald’s CorpMCD	SPYV +0.08 points	0.29%	0.37%
Coinbase Global Inc Class ACOIN	SPYV +0.08 points	0.02%	0.10%
Biogen IncBIIB	SPYV +0.08 points	0.04%	0.12%
Bank of New York Mellon CorpBNY	NZAC +0.08 points	0.20%	0.12%
Travelers Cos Inc/TheTRV	SPYV +0.08 points	0.20%	0.28%
Cognizant Tech Solutions ACTSH	SPYV +0.08 points	0.02%	0.10%
Aflac IncAFL	NZAC +0.07 points	0.26%	0.18%
West Pharmaceutical ServicesWST	SPYV +0.07 points	0.02%	0.09%
Cadence Design Sys IncCDNS	SPYV +0.08 points	0.03%	0.11%
Veralto CorpVLTO	NZAC +0.07 points	0.17%	0.10%
Copart IncCPRT	SPYV +0.07 points	0.02%	0.09%
Paychex IncPAYX	SPYV +0.08 points	0.05%	0.13%
Labcorp Holdings IncLH	SPYV +0.07 points	0.03%	0.10%
Quest Diagnostics IncDGX	SPYV +0.06 points	0.03%	0.09%

All 608 NZAC holdings⁠All 434 SPYV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NZAC vs SPYV Cost

Overpaying NZAC vs SPYV

$1,671

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

NZAC 0.12%
$2,520
SPYV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

NZAC 0.12%
SPYV 0.04%
Overpaying

Year by year

Year	NZAC	SPYV	Overpaying
10	$220	$73	$147
20	$859	$288	$571
30	$2,520	$849	$1,671

Expense ratio

0.12%NZAC
0.04%SPYV, cheaper

SPYV0.04%NZAC0.12%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

SPYV 2nd cheapest of 41 funds

NZAC 13th cheapest of 41 funds

NZAC vs SPYV Dividends

Last 12 months to Nov 9, 2026

Yield (12M): NZAC 2.06%, better; SPYV 1.64%
Payout (12M): NZAC $0.94; SPYV $1.06
Last payment: NZAC $0.30; SPYV $0.27
Ex-dividend: NZAC Jun 1, 2026; SPYV Sep 21, 2026
Paid on: NZAC Jun 5, 2026; SPYV Sep 23, 2026
Frequency: NZAC Twice a year; SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

NZACTwice a year · 19 paymentsAll NZAC payments⁠

SPYVQuarterly · 39 paymentsAll SPYV payments⁠

NZAC vs SPYV Risk

Fall from peak · 5 years

NZAC
SPYV

Risk facts

VolatilityStd dev, 3 years: NZAC 12.2%SPYV 11.7%, better
Return per unit of riskSharpe ratio, 3 years: NZAC 1.23, betterSPYV 1.17
Worst fallMax drawdown, 5 years: NZAC −28.3%SPYV −17.9%, better
Market sensitivityBeta, 5 years: NZAC 1.01SPYV 0.83; Market = 1

NZAC and SPYV in the news

All news⁠

Best ETFs
Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value
Updated Nov 3, 2026SPYV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026SPYV

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NZAC vs SPYV

In short

Stated mandate

Why people hold it

Worth knowing

How NZAC and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in NZAC

Only in SPYV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value

The best value ETF depends on whose list you bought

How NZAC and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in NZAC

Only in SPYV

Weight gaps