IAT vs. PBEU

Last updated Jun 24, 2026

IAT (iShares U.S. Regional Banks ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both Financials Equities funds - IAT tracks the Dow Jones U.S. Select Regional Banks Index while PBEU tracks the BITA European Banks Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. IAT charges 0.42%/yr vs 0.13%/yr for PBEU.

Performance

IAT vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Regional Banks ETF (IAT) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IAT achieves a 11.98% return, which is significantly lower than PBEU's 13.63% return.

IAT

• 1D: 1.65%
• 1M: 7.24%
• YTD: 11.98%
• 6M: 9.77%
• 1Y: 31.31%
• 3Y*: 27.52%
• 5Y*: 4.34%
• 10Y*: 9.74%

PBEU

• 1D: -1.42%
• 1M: 7.22%
• YTD: 13.63%
• 6M: 14.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IAT vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
IAT iShares U.S. Regional Banks ETF	11.98%	9.65%
PBEU Portfolio Building Block European Banks Index ETF	13.63%	11.42%

Correlation

The correlation between IAT and PBEU is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.49

Return for Risk

IAT vs. PBEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IAT

IAT Risk / Return Rank: 39
IAT Sharpe Ratio Rank: 43
IAT Sortino Ratio Rank: 41
IAT Omega Ratio Rank: 42
IAT Calmar Ratio Rank: 38
IAT Martin Ratio Rank: 33

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IAT vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Regional Banks ETF (IAT) and Portfolio Building Block European Banks Index ETF (PBEU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IAT	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	1.43	—	—
Sortino ratio: Return per unit of downside risk	1.97	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.80	—	—
Martin ratio: Return relative to average drawdown	4.57	—	—

Drawdowns

IAT vs. PBEU - Drawdown Comparison

The maximum IAT drawdown since its inception was -77.22%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for IAT and PBEU.

Drawdown Indicators

	IAT	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-77.22%	-17.26%	-59.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-55.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-55.55%	—	—
Current Drawdown Current decline from peak	-1.69%	-1.42%	-0.27%
Average Drawdown Average peak-to-trough decline	-26.91%	-3.94%	-22.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.87%	—	—

Volatility

Volatility by Period

	IAT	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.02%	27.63%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.96%	27.63%	+1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.73%	27.63%	+3.10%

IAT vs. PBEU - Expense Ratio Comparison

IAT has a 0.42% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

IAT vs. PBEU - Dividend Comparison

IAT's dividend yield for the trailing twelve months is around 2.65%, more than PBEU's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAT iShares U.S. Regional Banks ETF	2.65%	2.94%	2.95%	3.56%	3.12%	1.88%	2.87%	2.49%	2.48%	1.55%	1.52%	1.78%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IAT and PBEU in my portfolio?

IAT and PBEU have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IAT or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAT or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.42% for IAT.

Which ETF pays a higher dividend yield, IAT or PBEU?

IAT has the higher dividend yield at 2.65%, compared with 0.01% for PBEU.

What is the main difference between IAT and PBEU?

IAT tracks Dow Jones U.S. Select Regional Banks Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: iShares and Portfolio Building Block. Their fees differ too: 0.42% for IAT and 0.13% for PBEU.