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Trending ETFs

SPDR MSCI ACWI Climate Paris Aligned ETF

ETF
NZAC
Payout Change
Pending
Price as of:
$36.53 +0.0 +0.0%
primary theme
N/A
NZAC (ETF)

SPDR MSCI ACWI Climate Paris Aligned ETF

Payout Change
Pending
Price as of:
$36.53 +0.0 +0.0%
primary theme
N/A
NZAC (ETF)

SPDR MSCI ACWI Climate Paris Aligned ETF

Payout Change
Pending
Price as of:
$36.53 +0.0 +0.0%
primary theme
N/A

Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$36.53

$109 M

1.52%

$0.55

0.12%

Vitals

YTD Return

16.2%

1 yr return

29.2%

3 Yr Avg Return

4.7%

5 Yr Avg Return

10.8%

Net Assets

$109 M

Holdings in Top 10

25.3%

52 WEEK LOW AND HIGH

$36.5
$28.65
$37.62

Expenses

OPERATING FEES

Expense Ratio 0.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$36.53

$109 M

1.52%

$0.55

0.12%

NZAC - Profile

Distributions

  • YTD Total Return 16.2%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 10.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    SPDR MSCI ACWI Climate Paris Aligned ETF
  • Fund Family Name
    State Street Global Advisors - advised funds
  • Inception Date
    Nov 25, 2014
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Feehily

Fund Description

In seeking to track the performance of the MSCI ACWI Climate Paris Aligned Index(the Index), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (SSGA FM or the Adviser), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the
Fund in pursuing its objective. The Fund is classified as diversified under the Investment Company Act of 1940, as amended; however, the Fund may become non-diversified solely as a result of tracking the Index (e.g., changes in weightings of one or more component securities). When the Fund is non-diversified, it may invest a relatively high percentage of its assets in a limited number of issuers.
Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index and in depositary receipts (including American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs)) based on securities comprising the Index. In addition, in seeking to track the Index, the Fund may invest in equity securities that are not included in the Index (including common stock, preferred stock, depositary receipts and shares of other investment companies) , cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). In seeking to track the Index, the Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. Futures contracts (a type of derivative instrument) may be used by the Fund in seeking performance that corresponds to the Index and in managing cash flows.
The Index is designed to exceed the minimum standards for a Paris-Aligned Benchmark under the EU BMR. A Paris-Aligned Benchmark is designed to align with a principal objective of the Paris Agreement (a binding international treaty agreement on climate change) to limit the increase in the global average temperature to well below 2 degrees Celsius (preferably 1.5 degrees Celsius) above pre-industrial levels. The initial universe from which the Index selects constituents is the MSCI ACWI Index (the Parent Index), which measures the combined equity market performance of large- and mid-capitalization securities in developed and emerging market countries.
To construct the universe of constituents eligible for inclusion in the Index (the Eligible Universe), the Parent Index is first screened to remove securities of issuers based on any of the following exclusionary criteria:
All companies producing cluster bombs, landmines, depleted uranium, chemical or biological weapons, blinding laser weapons, non-detectable fragments or incendiary weapons; producing key components of cluster bombs, landmines, depleted uranium weapons, or chemical or biological weapons; owning 20% or more (50% for financial companies) of a weapons or components producer; or that are 50% or more owned by a company involved in weapons or components production.
All companies assigned an MSCI ESG (environmental, social or governance) Controversy Score of 0 or that are not assigned an MSCI ESG Controversy Score.
All companies that produce tobacco or derive 5% or more aggregate revenue from the production, distribution, retail and supply of tobacco-related products.
All companies assigned an MSCI Environmental Controversy Score of 0 or 1.
All companies deriving 1% or more revenue from mining of thermal coal and its sale to external parties (excluding all revenue from metallurgical coal, coal mined for internal power generation, intracompany sales of mined thermal coal, and coal trading).
All companies deriving 10% or more revenue from oil and gas related activities, including distribution/retail, equipment and services, extraction and production, petrochemicals, pipelines and transportation and refining (excluding biofuel production and sales and trading activities).
All companies deriving 50% or more revenue from thermal coal based, liquid fuel based and natural gas based power generation.
All companies that produce firearms and small arms ammunitions for civilian markets (excluding companies that cater to military, government and law enforcement markets) or derive 5% or more revenue from the production and distribution of firearms or small arms ammunition intended for civilian use.
All companies that (i) manufacture nuclear warheads and/or whole nuclear missiles; (ii) manufacture components that were developed or are significantly modified for exclusive use in nuclear warheads and/or nuclear missiles; (iii) manufacture or assemble delivery platforms that were developed or significantly modified for the exclusive delivery of nuclear weapons; (iv) provide auxiliary services related to nuclear weapons; (v) manufacture components that were not developed or not significantly modified for exclusive use in nuclear warheads and/or nuclear missiles but can be used in nuclear weapons; (vi) manufacture or assemble delivery platforms that were not developed or not significantly modified for the exclusive delivery of nuclear weapons but have the capability to deliver nuclear weapons; and (vii) manufacture components for nuclear-exclusive delivery platforms.
The Index Provider (defined below) incorporates data drawn from a number of sources for applying the exclusionary screens. An MSCI ESG Controversy Score provides an assessment of controversies concerning any negative environmental, social, and/or governance impact of a company's operations, products, and services. To evaluate ESG controversies, the Index Provider monitors across five categories of ESG impact – environment, human rights and communities, labor rights and supply chain, customers and governance – and 28 sub-categories. MSCI ESG Controversy Scores fall on a 0-10 scale, with 0 representing a company assessed as having involvement in very severe controversies. An MSCI Environmental Controversy Score provides an assessment of controversies related to a company's impact on the environment. Environmental controversies can relate to, among other things, toxic emissions and waste, operational waste (non-hazardous), energy and climate change, water stress, biodiversity and land use, and supply chain management. MSCI Environmental Controversy Scores fall on a 0-10 scale, with 0 and 1 representing a company having faced very severe and severe controversies pertaining to environmental issues, respectively.
The final portfolio of securities is constructed using an optimization process that seeks to select and weight securities from the Eligible Universe based on constraints designed to (i) minimize the Index's exposure to physical and transition risks of climate change (transition and physical risk objectives) and (ii) target exposure to sustainable investment opportunities (transition opportunities objectives). In addition, the optimization process also incorporates target constraints to seek to minimize the risk of significant differences in constituent, country or sector weightings relative to the Parent Index, while aiming to control for constituent turnover and minimize tracking error relative to the Parent Index (target diversification constraints).
The optimization process incorporates the following Index-level constraints to achieve transition and physical risk objectives:
At least 50% reduction in the weighted average of index constituents' greenhouse gas (GHG) Intensity relative to the Parent Index, taking into account Scope 1, 2 and 3 emissions. Scope 1 emissions are direct GHG emissions that occur from sources that are controlled or owned by an organization. Scope 2 emissions are indirect GHG emissions generated in the production of electricity consumed by the organization. Scope 3 emissions encompass all other indirect GHG emissions that are a consequence of the activities of the organization, but occur from sources not owned or controlled by the organization. GHG Intensity measures a company's Scope 1, 2 and 3 emissions relative to its enterprise value including cash. MSCI ESG Research uses a proprietary estimation model to calculate all Scope 3 emissions, and Scope 1 and Scope 2 emissions for companies who do not report GHG emissions.
At least 10% average reduction (per year) in GHG Intensity relative to GHG Intensity of the Index as of June 1, 2020.
Aggregate exposure to High Climate Impact Sectors that is not less than the aggregate exposure in the Parent Index. High Impact Climate Sectors are defined by EU BMR as those sectors that are key to the low-carbon transition.
At least 20% increase, relative to the Eligible Universe, in the aggregate weight of companies (i) having one or more active carbon emissions reduction target(s) approved by the Science Based Targets initiative (SBTi), or (ii) companies that (a) publish emissions reduction targets, (b) publish their annual emissions levels, and (c) have reduced their GHG intensity by at least 7% over each of the last three years.
At least 50% reduction in the weighted average of index constituents' Potential Emissions Intensity relative to the Parent Index. Potential Emissions Intensity represents the sum of a company's estimated carbon emissions assuming the company uses its owned coal, oil and gas reserves relative to the company's enterprise value including cash.
Aggregate Climate Value-at-Risk (VaR) greater than or equal to -5% of the aggregate Climate VaR of the Parent Index. Climate VaR is designed to provide a forward looking assessment of the impacts of climate change on a company's valuation based on various global average temperature warming scenarios.
At least 10% increase in the weighted average of index constituents' Low Carbon Transition (LCT) Score relative to the Parent Index. The LCT Score seeks to identify a company's exposure to and management of risk and opportunities related to low carbon transition.
At least 50% reduction in the weighted average of index constituents' Physical Risk Climate VaR (Aggressive Scenario) relative to the Parent Index. Physical Climate VaR (Aggressive Scenario) is an assessment of a company's worst-case (95th percentile) future costs arising from extreme weather events and the potential impact of such costs on the company's future financial performance, assuming emissions and temperatures rise steadily, reaching approximately 4°C of global warming in 2100.
The optimization process incorporates the following Index-level constraints to achieve transition opportunities objectives:
At least 10% increase in weighted average of index constituents' LCT Score relative to Parent Index.
At least 400% increase in the ratio of Weighted Average Green Revenue/Weighted Average Fossil Fuel-based Revenue relative to the Parent Index. Weighted Average Green Revenue represents the weighted average of index constituents' percentage of revenue derived from alternative energy, energy efficiency, sustainable water, green building, pollution prevention, and sustainable agriculture. Weighted Average Fossil Fuel-based Revenue represents the weighted average of index constituents' percentage of revenue derived from the mining of thermal coal (excluding metallurgical coal, coal mined for internal power generation, intra-company sales of mined thermal coal and revenue from coal trading) or its sale to external parties, extraction, production and refining of conventional and unconventional oil and gas, and power generation based on thermal coal, liquid fuel, and natural gas.
At least 100% increase in Weighted Average Green Revenue relative to the Parent Index.
The Index's optimization process incorporates information and data from internal and external (e.g., issuers, government agencies and non-profit organizations) sources, including research, reports, publications or public records.
The Index is rebalanced and reconstituted on a semi-annual basis, as of the close of the last business day of May and November. The optimization process described above is applied in connection with the semi-annual Index review. During the semi-annual Index review, in the event the Index-level constraints are not met through the optimization process, certain target diversification constraints of the Index will be relaxed until the Index-level constraints are achieved.
As of November 30, 2023, a significant portion of the Fund comprised companies in the technology sector, although this may change from time to time. As of November 30, 2023, countries represented in the Fund included Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Finland, France, Germany, Greece, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Kuwait, Mexico, the Netherlands, New Zealand, Norway, Peru, Poland, Portugal, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, the United Arab Emirates, the United Kingdom and the United States. As of November 30, 2023, a significant portion of the Fund comprised companies located in the United States, although this may change from time to time. As of November 30, 2023, the Index comprised 912 securities.
The Index is sponsored by MSCI, Inc. (the Index Provider), which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
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NZAC - Performance

Return Ranking - Trailing

Period NZAC Return Category Return Low Category Return High Rank in Category (%)
YTD 16.2% N/A N/A N/A
1 Yr 29.2% N/A N/A N/A
3 Yr 4.7%* N/A N/A N/A
5 Yr 10.8%* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period NZAC Return Category Return Low Category Return High Rank in Category (%)
2023 21.0% N/A N/A N/A
2022 -21.1% N/A N/A N/A
2021 16.4% N/A N/A N/A
2020 15.1% N/A N/A N/A
2019 25.3% N/A N/A N/A

Total Return Ranking - Trailing

Period NZAC Return Category Return Low Category Return High Rank in Category (%)
YTD 16.2% N/A N/A N/A
1 Yr 29.2% N/A N/A N/A
3 Yr 4.7%* N/A N/A N/A
5 Yr 10.8%* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period NZAC Return Category Return Low Category Return High Rank in Category (%)
2023 23.2% N/A N/A N/A
2022 -19.8% N/A N/A N/A
2021 18.4% N/A N/A N/A
2020 17.2% N/A N/A N/A
2019 28.2% N/A N/A N/A

NZAC - Holdings

Concentration Analysis

NZAC Category Low Category High NZAC % Rank
Net Assets 109 M N/A N/A N/A
Number of Holdings 895 N/A N/A N/A
Net Assets in Top 10 28.9 M N/A N/A N/A
Weighting of Top 10 25.34% N/A N/A N/A

Top 10 Holdings

  1. Microsoft Corp 4.63%
  2. Apple Inc 4.45%
  3. NVIDIA Corp 4.33%
  4. State Street Navigator Securities Lending Portfolio II 2.82%
  5. Amazon.com Inc 2.41%
  6. Alphabet Inc 1.63%
  7. Meta Platforms Inc 1.57%
  8. Eli Lilly Co 1.21%
  9. Alphabet Inc 1.16%
  10. Broadcom Inc 1.14%

Asset Allocation

Weighting Return Low Return High NZAC % Rank
Stocks
99.48% N/A N/A N/A
Cash
3.00% N/A N/A N/A
Preferred Stocks
0.04% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High NZAC % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High NZAC % Rank
US
63.48% N/A N/A N/A
Non US
36.00% N/A N/A N/A

NZAC - Expenses

Operational Fees

NZAC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.12% N/A N/A N/A
Management Fee 0.12% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

NZAC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

NZAC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

NZAC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

NZAC - Distributions

Dividend Yield Analysis

NZAC Category Low Category High NZAC % Rank
Dividend Yield 1.52% N/A N/A N/A

Dividend Distribution Analysis

NZAC Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

NZAC Category Low Category High NZAC % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

NZAC Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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NZAC - Fund Manager Analysis

Managers

Michael Feehily


Start Date

Tenure

Tenure Rank

Nov 25, 2014

7.52

7.5%

Mr. Feehily, CFA, is a Managing Director of SSGA and the Adviser and Co-Head of Passive Equity Strategies in North America in the Global Equity Beta Solutions Group. In this capacity, Mr. Feehily has oversight of the North American Passive Equity teams in Boston and Montreal. In addition, Mr. Feehily is a member of the Senior Management Group. Mr. Feehily rejoined SSgA in 2010 after spending the previous four years at State Street Global Markets LLC where he helped to build the Exposure Solutions business.

Karl Schneider


Start Date

Tenure

Tenure Rank

Nov 25, 2014

7.52

7.5%

Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.

Thomas Coleman


Start Date

Tenure

Tenure Rank

Mar 01, 2019

3.25

3.3%

Tom is a Vice President of State Street Global Advisors and a Senior Portfolio Manager in the Global Equity Beta Solutions investment team. Within this team, Tom is the Emerging Markets Strategy leader and as such, he is responsible for the management of a variety of commingled, segregated, and exchange traded products benchmarked to international strategies, including MSCI Emerging and ACWI, as well as S&P Emerging Markets. Tom is also responsible for domestic strategies benchmarked to Russell, Standard & Poors, and NASDAQ Indices. Prior to assuming his current role in April 2004, Tom managed the International Structured Products Group Operations Team. Tom holds a BS in Finance and Accounting from Boston College and an MBA from Babson College. He also earned the Chartered Financial Analyst designation and is a member of the Boston Security Analysts Society.

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A