PABD vs. DWMF

Last updated Jun 23, 2026

PABD (iShares Paris-Aligned Climate MSCI World Ex USA ETF) and DWMF (WisdomTree International Multifactor Fund) are both Foreign Large Cap Equities funds. PABD is passively managed, while DWMF is actively managed. Over the past year, PABD returned 23.13% vs 11.72% for DWMF. Their correlation of 0.82 suggests significant overlap in exposure. PABD charges 0.12%/yr vs 0.38%/yr for DWMF.

Performance

PABD vs. DWMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) and WisdomTree International Multifactor Fund (DWMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PABD achieves a 9.01% return, which is significantly higher than DWMF's 5.12% return.

PABD

• 1D: 0.06%
• 1M: 2.79%
• YTD: 9.01%
• 6M: 9.27%
• 1Y: 23.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWMF

• 1D: -2.08%
• 1M: 1.38%
• YTD: 5.12%
• 6M: 4.50%
• 1Y: 11.72%
• 3Y*: 14.20%
• 5Y*: 8.70%
• 10Y*: —

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

PABD vs. DWMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	9.01%	30.06%	5.32%
DWMF WisdomTree International Multifactor Fund	5.12%	24.42%	10.02%

Correlation

The correlation between PABD and DWMF is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024	0.82

The correlation between PABD and DWMF has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

PABD vs. DWMF - Sectors Allocation Comparison

Sectors	PABD	DWMF
Financial Services	29.8%	19.9%
Industrials	15.7%	19.1%
Technology	14.5%	4.5%
Healthcare	11.4%	9.1%
Real Estate	6.1%	6.3%
Basic Materials	5.0%	3.9%
Consumer Cyclical	4.7%	5.8%
Consumer Defensive	4.7%	11.3%
Utilities	4.4%	8.9%
Communication Services	3.1%	9.4%
Energy	0.2%	1.9%

Return for Risk

PABD vs. DWMF — Risk / Return Rank

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

PABD

PABD Risk / Return Rank: 41
PABD Sharpe Ratio Rank: 43
PABD Sortino Ratio Rank: 42
PABD Omega Ratio Rank: 41
PABD Calmar Ratio Rank: 38
PABD Martin Ratio Rank: 43

DWMF

DWMF Risk / Return Rank: 29
DWMF Sharpe Ratio Rank: 29
DWMF Sortino Ratio Rank: 29
DWMF Omega Ratio Rank: 29
DWMF Calmar Ratio Rank: 29
DWMF Martin Ratio Rank: 28

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.

PABD vs. DWMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) and WisdomTree International Multifactor Fund (DWMF). 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.

	PABD	DWMF	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.01	+0.45
Sortino ratio: Return per unit of downside risk	2.10	1.49	+0.61
Omega ratio: Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio: Return relative to maximum drawdown	1.85	1.35	+0.50
Martin ratio: Return relative to average drawdown	6.92	3.70	+3.22

PABD vs. DWMF - Sharpe Ratio Comparison

The current PABD Sharpe Ratio is 1.46, which is higher than the DWMF Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of PABD and DWMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PABD vs. DWMF - Drawdown Comparison

The maximum PABD drawdown since its inception was -13.37%, smaller than the maximum DWMF drawdown of -29.72%. Use the drawdown chart below to compare losses from any high point for PABD and DWMF.

Drawdown Indicators

	PABD	DWMF	Difference
Max Drawdown Largest peak-to-trough decline	-13.37%	-29.72%	+16.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-8.74%	-3.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.00%	—
Current Drawdown Current decline from peak	0.00%	-4.17%	+4.17%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.90%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.18%	+0.17%

Volatility

PABD vs. DWMF - Volatility Comparison

iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) and WisdomTree International Multifactor Fund (DWMF) have volatilities of 4.83% and 4.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABD	DWMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.71%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	13.54%	9.58%	+3.96%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	11.64%	+4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	11.37%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.62%	14.14%	+1.48%

PABD vs. DWMF - Expense Ratio Comparison

PABD has a 0.12% expense ratio, which is lower than DWMF's 0.38% expense ratio.

Dividends

PABD vs. DWMF - Dividend Comparison

PABD's dividend yield for the trailing twelve months is around 3.00%, more than DWMF's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DWMF WisdomTree International Multifactor Fund	2.83%	2.80%	3.50%	4.01%	3.41%	3.54%	2.06%	2.77%	1.15%
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	3.00%	2.74%	2.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PABD and DWMF in my portfolio?

PABD and DWMF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PABD or DWMF?

PABD has higher volatility (4.83%) compared to DWMF (4.71%). In terms of maximum drawdown, PABD dropped -13.37% vs DWMF's -29.72%.

Which ETF is better, PABD or DWMF?

On 1-year performance, PABD leads with 23.13% vs 11.72% for DWMF. On fees, PABD is cheaper at 0.12% per year. On volatility, DWMF has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABD or DWMF?

Over the 1-year period, PABD has performed better with a 23.13% return vs 11.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABD or DWMF?

PABD is cheaper with a 0.12% expense ratio, compared with 0.38% for DWMF.

Which ETF pays a higher dividend yield, PABD or DWMF?

PABD has the higher dividend yield at 3.00%, compared with 2.83% for DWMF.

What is the main difference between PABD and DWMF?

They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.12% for PABD and 0.38% for DWMF.

Which has better risk-adjusted returns?

PABD currently has the higher Sharpe Ratio (1.46 vs 1.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.