# USNZ (Xtrackers Net Zero Pathway Paris Aligned US Equity ETF)

Xtrackers · Thematic ETFs · data as of Sep 11, 2026

USNZ holds 306 stocks, and 2% of its weight is outside the S&P 500.

## Key facts

- USNZ, already in the S&P 500: 97.9%, as of Sep 11, 2026.
- USNZ, active share vs the S&P 500: 23.0%, as of Sep 11, 2026.
- USNZ, top ten holdings: 46.1%, as of Sep 11, 2026.
- USNZ, total return, 1 year: +17.5%, as of Sep 11, 2026.
- USNZ, net assets: $301m (SEC filing, whole fund, as filed for May 29, 2026).
- USNZ, expense ratio: 0.10% (485BPOS XBRL, Dec 18, 2025).

## USNZ over each window to Sep 11, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | +3.8% | +3.3% | +0.5 pts | +4.6 pts |
| 6 months | +18.5% | +16.0% | +2.5 pts | −2.2 pts |
| 1 year | +17.5% | +17.5% | 0.0 pts | −5.5 pts |
| 3 years | +75.8% | +77.9% | −2.1 pts | −19.3 pts |
| Since launch | +108.0% | +111.8% | −3.8 pts | −50.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Theme | Energy transition and decarbonisation | ETFIQ, editorial |
| Launched | Jun 28, 2022 | ETFIQ |
| Already in the S&P 500, by weight | 97.9% | ETFIQ |
| Active share vs the S&P 500 | 23.0% | ETFIQ |
| Already in the Nasdaq-100, by weight | 62.8% | ETFIQ |
| Active share vs the Nasdaq-100 | 41.9% | ETFIQ |
| Top ten holdings weight | 46.1% | ETFIQ |
| Holdings | 306 | ETFIQ |
| Holdings as of | May 29, 2026 | SEC N-PORT |
| Top holdings | NVIDIA CORP 9.7%, APPLE INC 8.7%, MICROSOFT CORP 6.4%, AMAZON.COM INC 4.2%, ALPHABET INC 4.0%, ALPHABET INC 3.4%, BROADCOM INC 3.4%, META PLATFORMS INC 2.4%, TESLA INC 2.1%, MICRON TECHNOLOGY INC 1.9% | ETFIQ |
| Net assets | $301m | SEC filing, whole fund, as filed for May 29, 2026 |
| Below its all-time high | −1.5% | ETFIQ |
| Expense ratio | 0.10% | 485BPOS XBRL, Dec 18, 2025 |
| Fee for the part that differs from the S&P 500, active expense ratio | 0.43% | ETFIQ |
| Closest funds by holdings overlap | AIEQ 57%, TNXT 49%, IQSZ 45%, IETC 44%, XIGV 42% | ETFIQ |

## Questions

### How much of USNZ is in S&P 500 companies?

By its holdings filed for May 29, 2026, 98% of USNZ by weight is stocks the S&P 500 already holds. Its active share against the index is 23%, so that share is the part doing something different.

### What does USNZ hold?

306 positions as filed for May 29, 2026, with the top ten at 46% of the fund. The largest are NVIDIA CORP at 9.7%, APPLE INC at 8.7%, MICROSOFT CORP at 6.4%.

### Has USNZ beaten the S&P 500?

Over the year to Sep 11, 2026 USNZ returned +17.5% with distributions reinvested, against +17.5% for the S&P 500, so it finished about even with the index by 0.0 points.

### What does USNZ cost?

The prospectus expense ratio is 0.10% a year. Because 23% of the fund differs from the S&P 500, the fee on that differing part works out at 0.43%.


## Cite this page

ETFIQ, USNZ, data as of Sep 11, 2026. https://etfiq.com/funds/USNZ
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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