PABD vs. IBIT

Last updated Jul 15, 2026

PABD (iShares Paris-Aligned Climate MSCI World Ex USA ETF) and IBIT (iShares Bitcoin Trust 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 IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, PABD returned 19.12% vs -46.35% for IBIT. At a 0.35 correlation, their price movements are largely independent. PABD charges 0.12%/yr vs 0.25%/yr for IBIT.

Performance

PABD vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PABD achieves a 8.29% return, which is significantly higher than IBIT's -26.32% return.

PABD

• 1D: 0.74%
• 1M: 0.67%
• 6M: 5.53%
• YTD: 8.29%
• 1Y: 19.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIT

• 1D: 3.86%
• 1M: 1.50%
• 6M: -31.72%
• YTD: -26.32%
• 1Y: -46.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PABD vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	8.29%	30.06%	5.32%
IBIT iShares Bitcoin Trust ETF	-26.32%	-6.41%	127.29%

Correlation

The correlation between PABD and IBIT is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jan 19, 2024	0.35

Return for Risk

PABD vs. IBIT — Risk / Return Rank

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

PABD

PABD Risk / Return Rank: 40
PABD Sharpe Ratio Rank: 41
PABD Sortino Ratio Rank: 41
PABD Omega Ratio Rank: 39
PABD Calmar Ratio Rank: 37
PABD Martin Ratio Rank: 44

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 1
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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. IBIT - 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 Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	1.19	-1.05	+2.24
Sortino ratio: Return per unit of downside risk	1.75	-1.58	+3.33
Omega ratio: Gain probability vs. loss probability	1.21	0.83	+0.39
Calmar ratio: Return relative to maximum drawdown	1.53	-0.87	+2.40
Martin ratio: Return relative to average drawdown	5.71	-1.41	+7.12

PABD vs. IBIT - Sharpe Ratio Comparison

The current PABD Sharpe Ratio is 1.19, which is higher than the IBIT Sharpe Ratio of -1.05. The chart below compares the historical Sharpe Ratios of PABD and IBIT, 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. IBIT - Drawdown Comparison

The maximum PABD drawdown since its inception was -13.37%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for PABD and IBIT.

Drawdown Indicators

	PABD	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-13.37%	-53.30%	+39.93%
Max Drawdown (1Y) Largest decline over 1 year	-12.55%	-53.30%	+40.75%
Current Drawdown Current decline from peak	-1.26%	-48.69%	+47.43%
Average Drawdown Average peak-to-trough decline	-2.57%	-17.61%	+15.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	32.86%	-29.50%

Volatility

PABD vs. IBIT - Volatility Comparison

The current volatility for iShares Paris-Aligned Climate MSCI World Ex USA ETF (PABD) is 3.85%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 11.82%. This indicates that PABD experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABD	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	11.82%	-7.97%
Volatility (6M) Calculated over the trailing 6-month period	13.84%	35.03%	-21.19%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	44.48%	-28.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	49.99%	-34.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	49.99%	-34.39%

PABD vs. IBIT - Expense Ratio Comparison

PABD has a 0.12% expense ratio, which is lower than IBIT's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PABD vs. IBIT - Dividend Comparison

PABD's dividend yield for the trailing twelve months is around 3.02%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%
PABD iShares Paris-Aligned Climate MSCI World Ex USA ETF	3.02%	2.74%	2.87%

Frequently Asked Questions

Can I hold both PABD and IBIT in my portfolio?

PABD and IBIT have a correlation of 0.39, 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 IBIT?

IBIT has higher volatility (11.82%) compared to PABD (3.85%). In terms of maximum drawdown, PABD dropped -13.37% vs IBIT's -53.30%.

Which ETF is better, PABD or IBIT?

On 1-year performance, PABD leads with 19.12% vs -46.35% for IBIT. On fees, PABD is cheaper at 0.12% per year. On volatility, PABD has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABD or IBIT?

Over the 1-year period, PABD has performed better with a 19.12% return vs -46.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABD or IBIT?

PABD is cheaper with a 0.12% expense ratio, compared with 0.25% for IBIT.

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

PABD has the higher dividend yield at 3.02%, compared with 0.00% for IBIT.

What is the main difference between PABD and IBIT?

PABD is categorized as Foreign Large Cap Equities, while IBIT is Cryptocurrency. PABD tracks MSCI World ex USA Climate Paris Aligned Benchmark Extended Select Index - Benchmark TR Net, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.12% for PABD and 0.25% for IBIT.

Which has better risk-adjusted returns?

PABD currently has the higher Sharpe Ratio (1.19 vs -1.05), 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.