USNZ
Xtrackers Net Zero Pathway Paris Aligned US Equity ETF
USNZ tracks a tier-weighted index of large- and mid-cap US stocks selected and weighted based on ESG criteria that is aligned with the objectives of the Net Zero Investment Framework and the Paris Climate Agreement.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
234.0 M
ASSETS UNDER MGMT
10 bp
EXPENSES
Fund Basics
| Fund sponsor | Deutsche Bank |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 28, 2022 |
| Assets (mns) | $234 |
| Expense ratio | 10 bp |
| Currency | CAD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 9.2 % |
| MICROSOFT CORP | 7.8 % |
| NVIDIA CORP | 6.0 % |
| META PLATFORMS INC | 3.5 % |
| ALPHABET INC. CLASS A | 2.1 % |
| BROADCOM INC. | 1.9 % |
| ALPHABET INC. CLASS C | 1.9 % |
| ELI LILLY & CO | 1.7 % |
| JPMORGAN CHASE & CO | 1.4 % |
| VISA INC. CLASS A | 1.2 % |
Constituent Breakdown
| Number of holdings | 337 |
| Herfindahl-Hirschman Index | 234 |
| Wgt avg mkt cap (mns) | $932,007 |
| Large cap (>$10bn) | 99.0% |
| Mid cap ($2-10bn) | 0.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.4% |
| Emerging mkts. | 0.4% |
Country Exposure
 |
UNITED STATES | 96.6 % |
 |
IRELAND | 1.9 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -5.5% | 8.5% | 14.0% | -- | -- | -- | -- | 13.6% |
| Dividend Yield | 0.2% | 0.9% | 1.2% | -- | -- | -- | -- | 1.2% |
| Total Returns | -5.3% | 9.4% | 15.2% | -- | -- | -- | -- | 14.8% | Ann. Volatility | 28.3% | 19.5% | 16.3% | -- | -- | -- | -- | 17.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.98 | 99% |
| MSCI EAFE | 0.72 | 61% |
| MSCI Emg Mkts | 0.55 | 39% |
Liquidity Measures
| Avg. volume (000) | 3 |
| ADV traded (mns) | $0 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.24% |
Technical Indicators
| Recent close | $37.44 |
| 30d moving avg. | $34.31 |
| Annualized volatility | 15.4% |
| Relative strength (RSI) | 51 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 74.7% | -3 bp | +5.1% |
| SPXE | ProShares S&P 500 Ex-Energy ETF | 73.8% | -1 bp | +5.0% |
| XVV | iShares ESG Screened S&P 500 ETF | 73.7% | -2 bp | +5.1% |
| ESGV | Vanguard ESG U.S. Stock ETF | 73.5% | -1 bp | +4.9% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 73.3% | -10 bp | +5.1% |
| VOTE | TCW Transform 500 ETF | 72.6% | -5 bp | +5.1% |
| BBUS | JP Morgan Betabuilders U.S. Equity ETF | 71.7% | -8 bp | +5.2% |
| SPYX | SPDR S&P 500 Fossil Fuel Reserves Free ETF | 71.3% | +10 bp | +4.9% |
| STRV | Strive 500 ETF | 71.1% | -5 bp | +5.0% |
| VV | Vanguard Large-Cap ETF | 71.1% | -6 bp | +5.1% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/17/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
5.4%
Cat. Avg
5.9%
ALTAR Score™ Calculation
Category Overview
There are 937 funds in the US Equity category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places in the 42nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
USNZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| (10 bp) Percentile rank | 14 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 10.0 | 0.0 | 10 | |
| Peer Avg. | 36.7 | 15.3 | 52.0 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .