PABG.L vs. VEGN

Last updated Jun 14, 2026

PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) and VEGN (US Vegan Climate ETF) are both exchange-traded funds - PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while VEGN is a Large Cap Growth Equities fund tracking the US Vegan Climate Index. Both are passively managed. Over the past 5 years, PABG.L returned 10.08%/yr vs 17.24%/yr for VEGN. At a 0.36 correlation, their price movements are largely independent. PABG.L charges 0.20%/yr vs 0.60%/yr for VEGN.

Performance

PABG.L vs. VEGN - 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 US Vegan Climate ETF (VEGN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PABG.L is traded in GBP, while VEGN is traded in USD. To make them comparable, the VEGN 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 VEGN's 29.96% 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*: —

VEGN

• 1D: 1.24%
• 1M: 6.87%
• YTD: 29.96%
• 6M: 29.49%
• 1Y: 49.23%
• 3Y*: 25.29%
• 5Y*: 17.24%
• 10Y*: —

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

PABG.L vs. VEGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
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%	5.08%	8.99%
VEGN US Vegan Climate ETF	29.96%	5.61%	27.61%	31.19%	-18.17%	27.20%	14.12%

Correlation

The correlation between PABG.L and VEGN is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jul 6, 2020	0.36

PABG.L vs. VEGN - Sectors Allocation Comparison

Sectors	PABG.L	VEGN
Financial Services	32.0%	13.3%
Technology	20.8%	63.0%
Industrials	16.3%	4.7%
Consumer Cyclical	9.8%	1.8%
Healthcare	8.0%	4.8%
Consumer Defensive	4.1%	0.0%
Utilities	4.0%	0.1%
Communication Services	3.4%	9.1%
Real Estate	1.1%	3.1%
Basic Materials	0.4%	0.1%
Energy	0.2%	-

Return for Risk

PABG.L vs. VEGN — 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

VEGN

VEGN Risk / Return Rank: 85
VEGN Sharpe Ratio Rank: 89
VEGN Sortino Ratio Rank: 85
VEGN Omega Ratio Rank: 84
VEGN Calmar Ratio Rank: 82
VEGN Martin Ratio Rank: 84

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. VEGN - 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 US Vegan Climate ETF (VEGN). 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	VEGN	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.84	-1.72
Sortino ratio: Return per unit of downside risk	1.74	3.56	-1.82
Omega ratio: Gain probability vs. loss probability	1.21	1.50	-0.29
Calmar ratio: Return relative to maximum drawdown	1.49	4.47	-2.98
Martin ratio: Return relative to average drawdown	5.14	14.87	-9.73

PABG.L vs. VEGN - Sharpe Ratio Comparison

The current PABG.L Sharpe Ratio is 1.13, which is lower than the VEGN Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of PABG.L and VEGN, 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. VEGN - Drawdown Comparison

The maximum PABG.L drawdown since its inception was -26.49%, roughly equal to the maximum VEGN drawdown of -26.25%. Use the drawdown chart below to compare losses from any high point for PABG.L and VEGN.

Drawdown Indicators

	PABG.L	VEGN	Difference
Max Drawdown Largest peak-to-trough decline	-26.49%	-26.25%	-0.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-10.63%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-25.14%	+11.30%
Max Drawdown (5Y) Largest decline over 5 years	-26.49%	-25.14%	-1.35%
Current Drawdown Current decline from peak	0.00%	-2.26%	+2.26%
Average Drawdown Average peak-to-trough decline	-6.08%	-5.85%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.19%	+0.23%

Volatility

PABG.L vs. VEGN - Volatility Comparison

The current volatility for Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) is 4.25%, while US Vegan Climate ETF (VEGN) has a volatility of 8.26%. This indicates that PABG.L experiences smaller price fluctuations and is considered to be less risky than VEGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABG.L	VEGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	8.26%	-4.01%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	14.04%	-1.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.57%	16.73%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	19.28%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	22.10%	-3.15%

PABG.L vs. VEGN - Expense Ratio Comparison

PABG.L has a 0.20% expense ratio, which is lower than VEGN's 0.60% expense ratio.

Dividends

PABG.L vs. VEGN - Dividend Comparison

PABG.L has not paid dividends to shareholders, while VEGN's dividend yield for the trailing twelve months is around 0.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%	0.00%	0.00%
VEGN US Vegan Climate ETF	0.50%	0.51%	0.51%	0.67%	0.81%	0.41%	0.71%	0.29%

Frequently Asked Questions

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

PABG.L and VEGN have a correlation of 0.37, 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 VEGN?

On fees, PABG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PABG.L or VEGN?

PABG.L is cheaper with a 0.20% expense ratio, compared with 0.60% for VEGN.

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

PABG.L is categorized as Europe Equities, while VEGN is Large Cap Growth Equities. PABG.L tracks MSCI EMU NR EUR, while VEGN tracks US Vegan Climate Index. They also come from different issuers: Amundi and Beyond Investing. Their fees differ too: 0.20% for PABG.L and 0.60% for VEGN.