NZAC vs. RAVI ETF Comparison

Comparison of SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) to FlexShares Ready Access Variable Income Fund (RAVI)

NZAC

SPDR MSCI ACWI Climate Paris Aligned ETF

NZAC Description

The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. 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 to limit the increase in the global average temperature to well below 2 degrees Celsius above pre-industrial levels.

Grade (RS Rating)

Last Trade

$37.32

Average Daily Volume

6,937

Number of Holdings ^*

370

* may have additional holdings in another (foreign) market

RAVI

FlexShares Ready Access Variable Income Fund

RAVI Description

The investment seeks maximum current income consistent with the preservation of capital and liquidity. The fund seeks to achieve the investment objective by investing at least 65% of its total assets in a non-diversified portfolio of fixed income instruments, including bonds, debt securities and other similar instruments issued by U.S. and non-U.S. public and private sector entities. The dollar-weighted average portfolio maturity of the fund is normally not expected to exceed two years. It may invest up to 20% of its total assets in fixed income securities and instruments of issuers in emerging markets. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$75.44

Average Daily Volume

72,378

Number of Holdings ^*

101

* may have additional holdings in another (foreign) market

Performance

Period	NZAC	RAVI
30 Days	0.97%	0.41%
60 Days	0.81%	0.65%
90 Days	2.64%	1.23%
12 Months	25.98%	5.45%

47 Overlapping Holdings

Symbol	Grade	Weight in NZAC	Weight in RAVI	Overlap
ABBV	D	0.6%	0.13%	0.13%
ABBV	D	0.34%	0.13%	0.13%
AIG	B	0.14%	0.57%	0.14%
AMT	D	0.11%	0.13%	0.11%
AMZN	C	2.38%	0.42%	0.42%
AON	A	0.11%	0.46%	0.11%
AZN	D	0.03%	0.15%	0.03%
AZO	C	0.1%	0.52%	0.1%
BAC	A	0.44%	0.57%	0.44%
BDX	F	0.11%	0.51%	0.11%
BMY	B	0.24%	0.43%	0.24%
C	A	0.01%	0.24%	0.01%
CCI	D	0.07%	0.49%	0.07%
CLX	B	0.01%	0.26%	0.01%
CMCSA	B	0.25%	0.28%	0.25%
COF	B	0.14%	0.06%	0.06%
CRM	B	0.42%	0.4%	0.4%
DHI	D	0.06%	0.13%	0.06%
DHR	F	0.19%	0.86%	0.19%
EFX	F	0.03%	0.1%	0.03%
FIS	C	0.07%	0.23%	0.07%
FOXA	B	0.04%	0.21%	0.04%
GILD	C	0.06%	0.59%	0.06%
GS	A	0.06%	0.26%	0.06%
HPE	B	0.16%	0.11%	0.11%
ICE	C	0.13%	0.15%	0.13%
JPM	A	1.09%	0.03%	0.03%
KDP	D	0.08%	0.95%	0.08%
LEN	D	0.06%	0.26%	0.06%
MET	A	0.21%	0.13%	0.13%
MKC	D	0.01%	0.17%	0.01%
MS	A	0.26%	0.06%	0.06%
MUFG	B	0.08%	0.14%	0.08%
NDAQ	A	0.04%	0.31%	0.04%
NVDA	C	4.67%	0.52%	0.52%
PCAR	B	0.06%	0.05%	0.05%
PYPL	B	0.13%	0.95%	0.13%
ROP	B	0.02%	0.07%	0.02%
SBUX	A	0.15%	0.18%	0.15%
SCHW	B	0.19%	0.42%	0.19%
SYK	C	0.25%	0.49%	0.25%
T	A	0.18%	0.3%	0.18%
TD	F	0.19%	0.51%	0.19%
UNH	C	0.77%	0.43%	0.43%
VZ	C	0.21%	0.1%	0.1%
WFC	A	0.25%	0.26%	0.25%
WM	A	0.1%	0.69%	0.1%

NZAC Overweight 323 Positions Relative to RAVI

Symbol	Grade	Weight
AAPL	C	4.47%
MSFT	F	4.03%
META	D	1.62%
GOOG	C	1.45%
TSLA	B	1.32%
AVGO	D	1.1%
GOOGL	C	1.03%
LLY	F	0.94%
EIX	B	0.81%
V	A	0.75%
MA	C	0.65%
JNJ	D	0.62%
IBM	C	0.6%
ORCL	B	0.59%
HD	A	0.58%
SHW	A	0.56%
NFLX	A	0.49%
MRK	F	0.47%
ADI	D	0.46%
NVS	D	0.41%
CSCO	B	0.4%
ACN	C	0.39%
NOW	A	0.39%
BRK.A	B	0.39%
DLR	B	0.39%
SPGI	C	0.38%
ACM	A	0.36%
MCD	D	0.36%
XYL	D	0.36%
AXP	A	0.36%
TJX	A	0.36%
WMT	A	0.35%
ADBE	C	0.35%
EQIX	A	0.33%
ITW	B	0.33%
TMO	F	0.32%
BSX	B	0.31%
ISRG	A	0.31%
INTU	C	0.31%
DIS	B	0.29%
AFL	B	0.28%
ETN	A	0.28%
TXN	C	0.27%
MSI	B	0.27%
AMD	F	0.27%
BLK	C	0.27%
QCOM	F	0.26%
LOW	D	0.25%
PH	A	0.25%
BKNG	A	0.24%
CB	C	0.24%
PWR	A	0.24%
BABA	D	0.24%
MDT	D	0.23%
PNR	A	0.23%
PGR	A	0.22%
MCO	B	0.22%
AMGN	D	0.21%
GWW	B	0.21%
PLD	D	0.21%
UNP	C	0.21%
MMC	B	0.2%
ADP	B	0.2%
PFE	D	0.19%
PNC	B	0.19%
GLW	B	0.19%
BX	A	0.19%
ABT	B	0.19%
FI	A	0.18%
CBRE	B	0.18%
INTC	D	0.18%
FFIV	B	0.18%
ORLY	B	0.18%
UBER	D	0.17%
FAST	B	0.17%
SONY	B	0.17%
ELV	F	0.17%
APO	B	0.17%
AMP	A	0.16%
FSLR	F	0.16%
ZTS	D	0.16%
AME	A	0.16%
KLAC	D	0.15%
PRU	A	0.15%
WELL	A	0.15%
SPG	B	0.15%
TRV	B	0.15%
EBAY	D	0.14%
HDB	C	0.14%
ALL	A	0.14%
DE	A	0.14%
VRTX	F	0.14%
PANW	C	0.14%
MELI	D	0.14%
TDG	D	0.13%
BK	A	0.13%
KKR	A	0.13%
TMUS	B	0.13%
CDW	F	0.13%
JNPR	F	0.13%
AMAT	F	0.12%
SHOP	B	0.12%
AVB	B	0.12%
ACGL	D	0.12%
HIG	B	0.12%
MRVL	B	0.12%
USB	A	0.12%
CME	A	0.12%
PPG	F	0.11%
EW	C	0.11%
LI	F	0.11%
PSA	D	0.11%
APH	A	0.11%
INFY	B	0.11%
NKE	D	0.11%
MTB	A	0.1%
ESS	B	0.1%
CHD	B	0.1%
LRCX	F	0.1%
REGN	F	0.1%
EQH	B	0.1%
IQV	D	0.1%
DEO	F	0.1%
TDY	B	0.1%
FTNT	C	0.09%
AIZ	A	0.09%
SYF	B	0.09%
MU	D	0.09%
ADSK	A	0.09%
ROST	C	0.09%
DFS	B	0.09%
ALLE	D	0.09%
CSX	B	0.09%
FTV	C	0.09%
SCCO	F	0.08%
PDD	F	0.08%
GRMN	B	0.08%
CTSH	B	0.08%
REG	B	0.08%
PAYX	C	0.08%
LULU	C	0.08%
NEM	D	0.08%
GIS	D	0.08%
WAB	B	0.08%
RS	B	0.08%
ROK	B	0.08%
BR	A	0.08%
O	D	0.07%
CINF	A	0.07%
BXP	D	0.07%
RVTY	F	0.07%
UPS	C	0.07%
TRMB	B	0.07%
PLTR	B	0.07%
RF	A	0.07%
HSBH	B	0.07%
CMG	B	0.07%
WRB	A	0.07%
EQR	B	0.07%
AJG	B	0.07%
MKL	A	0.07%
AFG	A	0.07%
WIT	A	0.07%
WTW	B	0.07%
RMD	C	0.07%
CHTR	C	0.07%
LIN	D	0.07%
YUM	B	0.07%
A	D	0.06%
VTR	C	0.06%
NTAP	C	0.06%
IRM	D	0.06%
MTD	D	0.06%
TCOM	B	0.06%
ECL	D	0.06%
ANET	C	0.06%
AXON	A	0.06%
IDXX	F	0.06%
KEYS	A	0.06%
HUM	C	0.06%
CPAY	A	0.05%
LYV	A	0.05%
VRSK	A	0.05%
NTRS	A	0.05%
ZBH	C	0.05%
ABNB	C	0.05%
HOLX	D	0.05%
GPN	B	0.05%
TROW	B	0.05%
URI	B	0.05%
TTD	B	0.05%
HSY	F	0.05%
ULTA	F	0.05%
HSIC	B	0.05%
ENPH	F	0.05%
BRO	B	0.05%
COIN	C	0.04%
ILMN	D	0.04%
RJF	A	0.04%
CEG	D	0.04%
DXCM	D	0.04%
NSC	B	0.04%
UHAL	D	0.04%
CTAS	B	0.04%
BCS	C	0.04%
PHM	D	0.04%
XPEV	C	0.04%
CPRT	A	0.04%
EXR	D	0.04%
IEX	B	0.04%
BAH	F	0.03%
ALGN	D	0.03%
WDAY	B	0.03%
STE	F	0.03%
NVR	D	0.03%
VICI	C	0.03%
MNST	C	0.03%
AVTR	F	0.03%
XRX	F	0.03%
VLTO	D	0.03%
CCEP	C	0.03%
EG	C	0.03%
SBAC	D	0.03%
VEEV	C	0.03%
CARR	D	0.03%
LKQ	D	0.03%
ERIE	D	0.03%
GDDY	A	0.03%
BIIB	F	0.03%
OMC	C	0.03%
IT	C	0.03%
CBOE	B	0.03%
FOX	A	0.03%
EL	F	0.03%
ALNY	D	0.03%
BIDU	F	0.03%
BURL	A	0.03%
TER	D	0.03%
STZ	D	0.03%
Z	A	0.02%
CG	A	0.02%
NIO	F	0.02%
ANSS	B	0.02%
ALLY	C	0.02%
VMC	B	0.02%
BMRN	D	0.02%
TW	A	0.02%
RPRX	D	0.02%
TFX	F	0.02%
MOH	F	0.02%
ROL	B	0.02%
STT	A	0.02%
CRWD	B	0.02%
SNA	A	0.02%
WST	C	0.02%
TT	A	0.02%
HBAN	A	0.02%
WAT	B	0.02%
MSTR	C	0.02%
DGX	A	0.02%
SEIC	B	0.02%
ZM	B	0.02%
ZBRA	B	0.02%
PODD	C	0.02%
HEI	B	0.02%
DASH	A	0.02%
BCH	F	0.02%
ASAI	F	0.02%
CTLT	B	0.02%
BAX	D	0.02%
VRT	B	0.02%
MAR	B	0.02%
SNOW	C	0.02%
ODFL	B	0.02%
DLTR	F	0.02%
HLT	A	0.02%
LH	C	0.02%
POOL	C	0.02%
CSGP	D	0.02%
MMM	D	0.02%
SQ	B	0.02%
TGT	F	0.02%
MBAVU	D	0.01%
SMCI	F	0.01%
QGEN	D	0.01%
EXAS	D	0.01%
SWKS	F	0.01%
MTCH	D	0.01%
BBWI	D	0.01%
WYNN	D	0.01%
STLD	B	0.01%
RIVN	F	0.01%
SUI	D	0.01%
NXPI	D	0.01%
JKHY	D	0.01%
TECH	D	0.01%
BIO	D	0.01%
SNAP	C	0.01%
ALB	C	0.01%
PAYC	B	0.01%
EPAM	C	0.01%
KVUE	A	0.01%
MAS	D	0.01%
DOC	D	0.01%
MRNA	F	0.01%
MKTX	D	0.01%
SQ	B	0.01%
FDS	B	0.01%
TRU	D	0.01%
EA	A	0.01%
NBIX	C	0.01%
IPG	D	0.01%
PINS	D	0.01%
KB	B	0.01%
WPC	D	0.01%
INCY	C	0.01%
VRSN	F	0.01%
QFIN	B	0.01%
DOCU	A	0.01%
LYG	F	0.01%
TEVA	D	0.01%
NIO	F	0.0%
WIT	A	0.0%

NZAC Underweight 55 Positions Relative to RAVI

Symbol	Grade	Weight
VLO	C	-1.51%
ED	D	-1.05%
OGS	A	-1.05%
OTIS	C	-0.95%
LYB	F	-0.83%
DTE	C	-0.77%
GE	D	-0.76%
TSN	B	-0.7%
CI	F	-0.67%
CM	A	-0.62%
GP	F	-0.59%
TFC	A	-0.59%
SJM	D	-0.57%
NEE	D	-0.57%
BNS	A	-0.52%
D	C	-0.51%
RY	A	-0.51%
VFC	C	-0.39%
OGE	B	-0.39%
ETR	B	-0.38%
AEP	D	-0.38%
CVX	A	-0.33%
ARCC	A	-0.3%
HSBC	B	-0.29%
CFG	B	-0.29%
MLM	B	-0.28%
DELL	C	-0.28%
DB	D	-0.28%
CP	D	-0.27%
CAT	B	-0.26%
SO	D	-0.26%
ATHS	C	-0.26%
AL	B	-0.25%
CMS	C	-0.24%
MCHP	D	-0.22%
FITB	A	-0.22%
PPL	B	-0.22%
NYC	D	-0.21%
CNP	B	-0.2%
LUV	C	-0.18%
AEE	A	-0.17%
BHF	B	-0.17%
CVS	D	-0.16%
KEY	B	-0.16%
SEB	F	-0.16%
UBS	C	-0.16%
PSX	C	-0.16%
NWG	C	-0.15%
BA	F	-0.15%
CNH	C	-0.13%
GM	B	-0.1%
MDLZ	F	-0.09%
R	B	-0.08%
HRL	D	-0.07%
DUK	C	-0.07%