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Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1cIndex, costs, backtest, listings and taxation

ISIN: IE000HT7E0B1Issuer: Xtrackers
Issuer-declared data
Declared index
Solactive ISS ESG Nordic Investable Universe Net Zero Pathway Index (EUR)
TER
0.15%
Transaction costs
0.06% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
41.6 mln EUR
Domicile
Ireland
Inception date
12 April 2023
Data as declared by Xtrackers in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c tracks the issuer-declared index: Solactive ISS ESG Nordic Investable Universe Net Zero Pathway Index (EUR). The declared annual cost (TER) is 0.15%, plus 0.06% in transaction costs estimated by the issuer in the KID. Replication is physical replication (the KID declares buying all or a substantial number of the index constituents); income is accumulated and reinvested in the fund. The fund has assets of about 42 million euro, was launched on 12 April 2023 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The fund is passively managed.

INVESTMENT OBJECTIVE:The fund aims to reflect the performance of the Solactive ISS ESG Nordic Investable Universe Net Zero Pathway Index (index).

DESCRIPTION OF INDEX:The Reference Index is designed to reflect the performance of companies of the Nordic countries which are selected and weighted with the aim of seeking alignment with EU Paris-aligned Benchmark (EU PAB) standards and certain net zero frameworks.

Keep reading the KID section ▾

The index uses ESG data from Institutional Shareholder Services Inc. (ISS), which provides expertise across a variety of sustainable and responsible investment issues. ESG CRITERIA: The index first removes companies from the Solactive GBS Developed Markets Nordic Investable Universe EUR Index (parent index) which do not meet certain ESG criteria, as disclosed in the prospectus and/or supplement. Stocks passing these exclusions are then scored and weighted based on three pillars (Tilted Weights) (i) Science-based targets relating to reducing carbon emissions (ii) Climate disclosure standards, and (iii) Green revenue relating to SDG 13. Tilted Weights are then further adjusted to ensure alignment with EU PAB requirements, with weights subject to capping and individual and sector weight deviation limits compared to the parent index also applied. Individual securities in the index are capped at 9%.

INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The Index is administered by Solactive AG. The index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax. The index is reviewed and rebalanced on at least a semiannual basis. The index is calculated in EUR on a daily basis.

INVESTMENT POLICY:To achieve the aim, the fund will attempt to replicate the index, before fees and expenses, by buying all or a substantial number of the securities in the index. The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of financial contracts (derivatives). FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is EUR. Returns and gains are not distributed but are reinvested in the fund. You may request the redemption of shares generally on a daily basis.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.15%: below the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Apr 2023 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+23.0%
Annualised
+6.3%
Volatility (ann.)
15.7%
Max drawdown
-23.89%
-13%-2%+10%+22%+34%Apr 2023Feb 2024Dec 2024Oct 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+23%Apr 2023Sept 2026
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%2023202420252026−23.89% · 09 Apr 2025
Max drawdown
-23.89%
peak → trough
Trough
09 Apr 2025
from the 30 Aug 2024 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
739 days
decline + recovery: peak to break-even · ≈ 2 years · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
30 Aug 202409 Apr 2025-23.89%ongoing739
17 Apr 202327 Oct 2023-13.58%01 Dec 2023228
12 Jul 202405 Aug 2024-8.16%28 Aug 202447
26 Mar 202425 Apr 2024-5.97%10 May 202445
28 Dec 202319 Jan 2024-4.59%12 Feb 202446

Calendar-year returns

2023
11.7%
2024
4.0%
2025
0.8%
2026
5.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.7-1.9-6.26.53.6-1.72.72.0-0.15.0
20255.60.5-8.2-1.83.6-1.3-1.71.4-1.33.4-0.72.20.8
2024-0.32.73.2-2.46.80.42.02.9-1.6-6.1-0.5-2.54.0
2023-3.9-0.51.6-3.5-0.6-5.012.39.211.7
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Xtrackers. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER.
Declared TER
0.15%
YearFundIndexDifference
2025+0.82%+0.42%+0.41%
2024+3.99%+3.56%+0.43%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsFull history
Volatility (ann.)14.31%15.69%15.58%
Max drawdown-12.89%-23.89%-23.89%
Sharpe0.500.400.25
Sortino0.730.570.36
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
164
Top-10 weight
31.7%

Top 10 holdings

NOVO NORDISK CLASS B
7.67%
INVESTOR CLASS B
4.28%
SPOTIFY TECHNOLOGY
4.23%
NORDEA BANK
2.98%
NOKIA
2.39%
DSV
2.30%
VESTAS WIND SYSTEMS
2.24%
ASSA ABLOY CLASS B
2.04%
NOVOZYMES CLASS B
1.82%
DANSKE BANK
1.75%

Sectors

Financials
23.0%
Industrials
20.0%
Health Care
18.4%
Consumer Discretionary
8.6%
Real Estate
6.6%
Telecommunications
6.2%
Basic Materials
4.7%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmark: 26.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinland: 13.5%FijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourg: 4.2%LatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorway: 6.3%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 49%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Sweden49%
Denmark26.4%
Finland13.5%
Norway6.3%
Luxembourg4.2%
Bermuda0.3%
Faroe Islands0.3%
⬇ Download the full portfolio — Excel, 164 rows
Full portfolio declared by Xtrackers, as of 2 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfXNZN26 Apr 2023
Börse FrankfurtXNZN26 Apr 2023
Börse HamburgXNZN3 Jul 2023
Börse HannoverXNZN9 Dec 2024
Börse München / gettexXNZN26 Apr 2023
Börse StuttgartXNZN18 May 2023
Tradegate ExchangeXNZN24 May 2023
Xetra (Deutsche Börse)XNZN26 Apr 2023
+ 15 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c track?
The issuer Xtrackers declares the benchmark: Solactive ISS ESG Nordic Investable Universe Net Zero Pathway Index (EUR).
How much does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c cost?
The issuer-declared TER is 0.15% per year; the transaction costs estimated in the KID are 0.06%.
What is the fund size of Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c?
The fund size declared by Xtrackers is about 42 million euro.
When was Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c launched?
The fund was launched on 12 April 2023: it has 3 years of history.
How does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Fisica (dal KID)”).
Does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (XNZN), Börse Frankfurt (XNZN), Börse Hamburg (XNZN), Börse Hannover (XNZN), Börse München / gettex (XNZN), Börse Stuttgart (XNZN).
What was Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c's worst fall?
Over the available history (since 2023), the maximum drawdown was -23.89%, reached in April 2025. Past performance is not indicative of future results.
How many securities does Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1c hold?
The declared portfolio holds 164 securities; the top 10 positions weigh 31.7%.
Transparency note
The data in this sheet is declared by Xtrackers in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.