PABG.L vs. FEUS

Last updated Jun 14, 2026

PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) and FEUS (FlexShares ESG & Climate US Large Cap Core Index Fund) are both exchange-traded funds - PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while FEUS is a Large Cap Blend Equities fund tracking the Northern Trust ESG & Climate US Large Cap Core Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, PABG.L returned 16.47%/yr vs 16.45%/yr for FEUS. At a 0.37 correlation, their price movements are largely independent. PABG.L charges 0.20%/yr vs 0.09%/yr for FEUS.

Performance

PABG.L vs. FEUS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) and FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PABG.L is traded in GBP, while FEUS is traded in USD. To make them comparable, the FEUS values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, PABG.L achieves a 7.45% return, which is significantly lower than FEUS's 8.81% return.

PABG.L

• 1D: 2.24%
• 1M: 5.50%
• YTD: 7.45%
• 6M: 8.23%
• 1Y: 19.73%
• 3Y*: 16.47%
• 5Y*: 10.08%
• 10Y*: —

FEUS

• 1D: 0.52%
• 1M: -0.81%
• YTD: 8.81%
• 6M: 8.25%
• 1Y: 25.62%
• 3Y*: 16.45%
• 5Y*: —
• 10Y*: —

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

PABG.L vs. FEUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc	7.45%	27.76%	9.01%	19.39%	-11.91%	2.00%
FEUS FlexShares ESG & Climate US Large Cap Core Index Fund	8.81%	6.50%	25.25%	19.27%	-9.48%	10.40%

Correlation

The correlation between PABG.L and FEUS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.37

The correlation between PABG.L and FEUS shifts across timeframes, from 0.32 (3 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.

PABG.L vs. FEUS - Sectors Allocation Comparison

Sectors	PABG.L	FEUS
Financial Services	32.0%	11.2%
Technology	20.8%	39.0%
Industrials	16.3%	8.0%
Consumer Cyclical	9.8%	10.4%
Healthcare	8.0%	8.2%
Consumer Defensive	4.1%	4.2%
Utilities	4.0%	1.7%
Communication Services	3.4%	10.4%
Real Estate	1.1%	2.0%
Basic Materials	0.4%	1.5%
Energy	0.2%	3.4%

Return for Risk

PABG.L vs. FEUS — Risk / Return Rank

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

PABG.L

PABG.L Risk / Return Rank: 35
PABG.L Sharpe Ratio Rank: 35
PABG.L Sortino Ratio Rank: 37
PABG.L Omega Ratio Rank: 34
PABG.L Calmar Ratio Rank: 34
PABG.L Martin Ratio Rank: 37

FEUS

FEUS Risk / Return Rank: 59
FEUS Sharpe Ratio Rank: 61
FEUS Sortino Ratio Rank: 59
FEUS Omega Ratio Rank: 60
FEUS Calmar Ratio Rank: 53
FEUS Martin Ratio Rank: 61

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.

PABG.L vs. FEUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) and FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS). 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.

	PABG.L	FEUS	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.04	-0.91
Sortino ratio: Return per unit of downside risk	1.74	2.64	-0.90
Omega ratio: Gain probability vs. loss probability	1.21	1.37	-0.16
Calmar ratio: Return relative to maximum drawdown	1.49	2.88	-1.39
Martin ratio: Return relative to average drawdown	5.14	10.12	-4.98

PABG.L vs. FEUS - Sharpe Ratio Comparison

The current PABG.L Sharpe Ratio is 1.13, which is lower than the FEUS Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of PABG.L and FEUS, 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

PABG.L vs. FEUS - Drawdown Comparison

The maximum PABG.L drawdown since its inception was -26.49%, which is greater than FEUS's maximum drawdown of -22.50%. Use the drawdown chart below to compare losses from any high point for PABG.L and FEUS.

Drawdown Indicators

	PABG.L	FEUS	Difference
Max Drawdown Largest peak-to-trough decline	-26.49%	-22.50%	-3.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-8.51%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-22.50%	+8.66%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	—	—
Current Drawdown Current decline from peak	0.00%	-2.33%	+2.33%
Average Drawdown Average peak-to-trough decline	-6.08%	-4.37%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.41%	+1.01%

Volatility

PABG.L vs. FEUS - Volatility Comparison

Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) has a higher volatility of 4.25% compared to FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS) at 3.92%. This indicates that PABG.L's price experiences larger fluctuations and is considered to be riskier than FEUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABG.L	FEUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	3.92%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	9.00%	+3.94%
Volatility (1Y) Calculated over the trailing 1-year period	15.57%	11.99%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	16.01%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	16.01%	+2.94%

PABG.L vs. FEUS - Expense Ratio Comparison

PABG.L has a 0.20% expense ratio, which is higher than FEUS's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PABG.L vs. FEUS - Dividend Comparison

PABG.L has not paid dividends to shareholders, while FEUS's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021
FEUS FlexShares ESG & Climate US Large Cap Core Index Fund	1.00%	1.06%	1.15%	1.41%	1.48%	0.36%
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PABG.L and FEUS in my portfolio?

PABG.L and FEUS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PABG.L or FEUS?

On fees, FEUS is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PABG.L or FEUS?

FEUS is cheaper with a 0.09% expense ratio, compared with 0.20% for PABG.L.

What is the main difference between PABG.L and FEUS?

PABG.L is categorized as Europe Equities, while FEUS is Large Cap Blend Equities. PABG.L tracks MSCI EMU NR EUR, while FEUS tracks Northern Trust ESG & Climate US Large Cap Core Index - Benchmark TR Gross. They also come from different issuers: Amundi and FlexShares. Their fees differ too: 0.20% for PABG.L and 0.09% for FEUS.