PABD vs. EPIN

Last updated Aug 4, 2026

PABD (iShares Paris-Aligned Climate MSCI World Ex USA ETF) and EPIN (Harbor International Equity ETF) are both Foreign Large Cap Equities funds. PABD is passively managed, while EPIN is actively managed. Over the past year, PABD returned 22.78% vs 38.63% for EPIN. Their correlation of 0.88 means they have usually moved in the same direction. PABD charges 0.12%/yr vs 0.80%/yr for EPIN.

Performance

PABD vs. EPIN - 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 Harbor International Equity ETF (EPIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PABD achieves a 9.56% return, which is significantly lower than EPIN's 23.91% return.

PABD

• 1D: 0.48%
• 1M: 0.77%
• 6M: 5.02%
• YTD: 9.56%
• 1Y: 22.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.35%

EPIN

• 1D: 0.45%
• 1M: -0.25%
• 6M: 14.24%
• YTD: 23.91%
• 1Y: 38.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EPIN Harbor International Equity ETF	$42.70K	$24.96K	$19.91K
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	$83.86K	$55.85K	$338.84K

PABD vs. EPIN - Yearly Performance Comparison

	2026 (YTD)	2025
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	9.56%	11.03%
EPIN Harbor International Equity ETF	23.91%	14.36%

Correlation

The correlation between PABD and EPIN is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.88

The correlation between PABD and EPIN has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

PABD vs. EPIN - Sectors Allocation Comparison

Sectors	PABD	EPIN
Financial Services	29.5%	19.1%
Industrials	16.0%	20.6%
Technology	14.5%	29.6%
Healthcare	12.2%	8.2%
Real Estate	6.2%	-
Basic Materials	4.8%	7.1%
Consumer Cyclical	4.6%	7.0%
Utilities	4.6%	-
Consumer Defensive	4.4%	3.6%
Communication Services	3.0%	1.0%
Energy	0.2%	3.8%

Return for Risk

PABD vs. EPIN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PABD

PABD Risk / Return Rank: 53
PABD Sharpe Ratio Rank: 55
PABD Sortino Ratio Rank: 56
PABD Omega Ratio Rank: 53
PABD Calmar Ratio Rank: 48
PABD Martin Ratio Rank: 55

EPIN

EPIN Risk / Return Rank: 81
EPIN Sharpe Ratio Rank: 81
EPIN Sortino Ratio Rank: 78
EPIN Omega Ratio Rank: 80
EPIN Calmar Ratio Rank: 83
EPIN Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PABD vs. EPIN - 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 Harbor International Equity ETF (EPIN). 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	EPIN	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.03	-0.62
Sortino ratio: Return per unit of downside risk	2.04	2.75	-0.71
Omega ratio: Gain probability vs. loss probability	1.25	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	1.82	3.34	-1.51
Martin ratio: Return relative to average drawdown	6.86	12.00	-5.14

PABD vs. EPIN - Sharpe Ratio Comparison

The current PABD Sharpe Ratio is 1.42, which is lower than the EPIN Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of PABD and EPIN, 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. EPIN - Drawdown Comparison

The maximum PABD drawdown since its inception was -13.37%, which is greater than EPIN's maximum drawdown of -11.64%. Use the drawdown chart below to compare losses from any high point for PABD and EPIN.

Drawdown Indicators

	PABD	EPIN	Difference
Max Drawdown Largest peak-to-trough decline	-13.37%	-11.64%	-1.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-11.64%	-0.91%
Current Drawdown Current decline from peak	-0.18%	-2.05%	+1.87%
Average Drawdown Average peak-to-trough decline	-2.55%	-1.93%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	3.23%	+0.10%

Volatility

PABD vs. EPIN - Volatility Comparison

The current volatility for iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) is 4.50%, while Harbor International Equity ETF (EPIN) has a volatility of 5.57%. This indicates that PABD experiences smaller price fluctuations and is considered to be less risky than EPIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABD	EPIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	5.57%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	13.89%	16.91%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.20%	19.13%	-2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	18.34%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	18.34%	-2.74%

PABD vs. EPIN - Expense Ratio Comparison

PABD has a 0.12% expense ratio, which is lower than EPIN's 0.80% expense ratio.

Dividends

PABD vs. EPIN - Dividend Comparison

PABD's dividend yield for the trailing twelve months is around 2.98%, more than EPIN's 0.64% yield.

Position	TTM	2025	2024
EPIN Harbor International Equity ETF	0.64%	0.79%	0.00%
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	2.98%	2.74%	2.87%

Frequently Asked Questions

Can I hold both PABD and EPIN in my portfolio?

PABD and EPIN have a correlation of 0.88, 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 EPIN?

EPIN has higher volatility (5.57%) compared to PABD (4.50%). In terms of maximum drawdown, PABD dropped -13.37% vs EPIN's -11.64%.

Which ETF is better, PABD or EPIN?

On 1-year performance, EPIN leads with 38.63% vs 22.78% for PABD. On fees, PABD is cheaper at 0.12% per year. On volatility, PABD has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABD or EPIN?

Over the 1-year period, EPIN has performed better with a 38.63% return vs 22.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABD or EPIN?

PABD is cheaper with a 0.12% expense ratio, compared with 0.80% for EPIN.

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

PABD has the higher dividend yield at 2.98%, compared with 0.64% for EPIN.

What is the main difference between PABD and EPIN?

They also come from different issuers: iShares and Harbor. Their fees differ too: 0.12% for PABD and 0.80% for EPIN.

Which has better risk-adjusted returns?

EPIN currently has the higher Sharpe Ratio (2.03 vs 1.42), 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.