PABD vs. HYXF
PABD (iShares Paris-Aligned Climate MSCI World Ex USA ETF) and HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) are both exchange-traded funds - PABD is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Climate Paris Aligned Benchmark Extended Select Index - Benchmark TR Net, while HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Both are passively managed. Over the past year, PABD returned 20.80% vs 6.13% for HYXF. A 0.64 correlation means they provide meaningful diversification when combined. PABD charges 0.12%/yr vs 0.35%/yr for HYXF.
Performance
PABD vs. HYXF - Performance Comparison
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Returns By Period
In the year-to-date period, PABD achieves a 8.37% return, which is significantly higher than HYXF's 1.34% return.
PABD
- 1D
- 0.75%
- 1M
- 4.79%
- YTD
- 8.37%
- 6M
- 9.38%
- 1Y
- 20.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYXF
- 1D
- 0.29%
- 1M
- 1.24%
- YTD
- 1.34%
- 6M
- 1.95%
- 1Y
- 6.13%
- 3Y*
- 8.59%
- 5Y*
- 3.71%
- 10Y*
- 5.12%
PABD vs. HYXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF | 8.37% | 30.06% | 5.32% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.34% | 8.88% | 8.81% |
Correlation
The correlation between PABD and HYXF is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024 | 0.64 |
The correlation between PABD and HYXF has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
PABD vs. HYXF — Risk / Return Rank
PABD
HYXF
PABD vs. HYXF - 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 iShares ESG Advanced High Yield Corporate Bond ETF (HYXF). 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 | HYXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.40 | -0.73 |
| Martin ratioReturn relative to average drawdown | 6.21 | 10.72 | -4.50 |
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Drawdowns
PABD vs. HYXF - Drawdown Comparison
The maximum PABD drawdown since its inception was -13.37%, smaller than the maximum HYXF drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for PABD and HYXF.
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Drawdown Indicators
| PABD | HYXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.37% | -18.75% | +5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -12.55% | -2.57% | -9.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.75% | — |
Current DrawdownCurrent decline from peak | -0.02% | 0.00% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -2.62% | -2.57% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 0.57% | +2.79% |
Volatility
PABD vs. HYXF - Volatility Comparison
iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) has a higher volatility of 5.54% compared to iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) at 1.29%. This indicates that PABD's price experiences larger fluctuations and is considered to be riskier than HYXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PABD | HYXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 1.29% | +4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.57% | 3.01% | +10.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.00% | 3.83% | +12.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.66% | 8.05% | +7.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 8.31% | +7.35% |
PABD vs. HYXF - Expense Ratio Comparison
PABD has a 0.12% expense ratio, which is lower than HYXF's 0.35% expense ratio.
Dividends
PABD vs. HYXF - Dividend Comparison
PABD's dividend yield for the trailing twelve months is around 4.03%, less than HYXF's 6.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.07% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% |
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF | 4.03% | 2.74% | 2.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PABD and HYXF have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PABD has higher volatility (5.54%) compared to HYXF (1.29%). In terms of maximum drawdown, PABD dropped -13.37% vs HYXF's -18.75%.
On 1-year performance, PABD leads with 20.80% vs 6.13% for HYXF. On fees, PABD is cheaper at 0.12% per year. On volatility, HYXF has been the lower-risk option at 1.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PABD has performed better with a 20.80% return vs 6.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PABD is cheaper with a 0.12% expense ratio, compared with 0.35% for HYXF.
HYXF has the higher dividend yield at 6.07%, compared with 4.03% for PABD.
PABD is categorized as Foreign Large Cap Equities, while HYXF is High Yield Bonds. PABD tracks MSCI World ex USA Climate Paris Aligned Benchmark Extended Select Index - Benchmark TR Net, while HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Their fees differ too: 0.12% for PABD and 0.35% for HYXF.
HYXF currently has the higher Sharpe Ratio (1.61 vs 1.31), 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.
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