Data as of Nov 4, 2026.
ETHO vs USNZ: Holdings Overlap & Returns
Over the year to Nov 4, 2026, ETHO returned +29.3% to USNZ's +14.0%; 11% of their weight is in the same names.
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Net assets: $197m on Nov 3, 2026 for Amplify Etho Climate Leadership U.S. ETF, and $291m on Nov 2, 2026 for Xtrackers Net Zero Pathway Paris Aligned US Equity ETF.
26% of ETHO's weight is in S&P 500 companies and 74% is outside the index. Holdings as of Nov 4, 2026.
98% of USNZ's weight is in S&P 500 companies and 2% is outside the index. Holdings as of Aug 31, 2026.
Pair scorecard
USNZ costs 0.35 points a year less; their one-year returns differ by 15.3 points; USNZ is 1.5 times larger.
Points (pts) are percentage points.
| Measure | ETHO | USNZ |
|---|---|---|
| Return | ||
| Total return, 1 year | +29.3% | +14.0% |
| Against its benchmark | ||
| What it tracks | Energy transition and decarbonisation | Energy transition and decarbonisation |
| Against the S&P 500, 1 year | behind by 0.8 pts | |
| Its benchmark, total return, 1 year | +14.8% | |
| Against its benchmark, 1 year | behind by 0.8 pts | |
| Cost and size | ||
| Expense ratio | 0.45% | 0.10% |
| Net assets, as of Nov 2, 2026 | $197m | $291m |
| Holdings | ||
| Holdings in common | 11% | |
| Top ten holdings, share of the fund | 7% | 44% |
Risk and return
Feb 9, 2024 to Oct 30, 2026 · 142 weekly returnsFrom Feb 2024 to Oct 2026, USNZ returned slightly more: +49.5% to +45.7%. USNZ swung less: 14.9% to 16.9%. USNZ fell less at its worst: −16.8% to −22.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ETHO | USNZ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +45.7% | +49.5% | USNZ (slight) | Price change plus distributions, reinvested. |
| Annualized | +14.8% | +15.9% | USNZ (slight) | Total return as a yearly rate. |
| Price return | +43.4% | +45.2% | USNZ (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 16.9% | 14.9% | USNZ | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 11.5% | 9.8% | USNZ | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −22.3% | −16.8% | USNZ | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.64 | 0.77 | USNZ | Return above Treasury bills per unit of volatility. |
| Sortino | 0.95 | 1.18 | USNZ | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.66 | 0.95 | USNZ | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 142 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ETHO and USNZ hold 11% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Nov 4, 2026.
half
11% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | ETHO | USNZ | ETHO | USNZ |
| 3 months | −0.8% | −0.4% | not measured | −0.3 pts vs VOO |
| 6 months | +9.0% | +5.4% | not measured | +0.4 pts vs VOO |
| 1 year | +29.3% | +14.0% | not measured | −0.8 pts vs VOO |
| 3 years | – | +79.9% | – | −3.4 pts vs VOO |
| Since launchNot the same days: ETHO Jan 2024 · USNZ Jun 2022 | +48.9% | +108.7% | not measured | −5.2 pts vs VOO |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
11% of the two portfolios are the same securities at the same weight.
Client brief:
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ETHO
By weight, 26% of ETHO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 91%. The top ten holdings are 7% of the fund across 284 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned +29.3% with distributions reinvested.
USNZ
By weight, 98% of USNZ's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 24%. The top ten holdings are 44% of the fund across 297 positions, as filed for Aug 31, 2026. Over the year to Nov 4, 2026 the fund returned +14.0% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Index, so a holder was behind by 0.8 pts.
Questions people ask
- Do ETHO and USNZ hold the same stocks?
- By their latest filings, 11% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, ETHO against USNZ, data as of Nov 4, 2026. https://etfiq.com/compare/themes/etho-vs-usnz
ETFIQ. (Nov 4, 2026). ETHO against USNZ. Retrieved from https://etfiq.com/compare/themes/etho-vs-usnz
[ETHO against USNZ (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/etho-vs-usnz)
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