PABU vs. HYXF
PABU (iShares Paris-Aligned Climate Optimized MSCI USA ETF) and HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) are both exchange-traded funds - PABU is a Large Cap Blend Equities fund tracking the MSCI USA Climate Paris Aligned Benchmark Extended Select PAB Index (USD), 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 3 years, PABU returned 18.02%/yr vs 8.59%/yr for HYXF. A 0.65 correlation means they provide meaningful diversification when combined. PABU charges 0.10%/yr vs 0.35%/yr for HYXF.
Performance
PABU vs. HYXF - Performance Comparison
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Returns By Period
In the year-to-date period, PABU achieves a 6.81% return, which is significantly higher than HYXF's 1.34% return.
PABU
- 1D
- 1.98%
- 1M
- 1.91%
- YTD
- 6.81%
- 6M
- 7.83%
- 1Y
- 20.95%
- 3Y*
- 18.02%
- 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%
PABU vs. HYXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF | 6.81% | 13.08% | 24.84% | 29.51% | -15.45% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.34% | 8.88% | 8.35% | 11.87% | -8.07% |
Correlation
The correlation between PABU and HYXF is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022 | 0.65 |
The correlation between PABU and HYXF has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.
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Return for Risk
PABU vs. HYXF — Risk / Return Rank
PABU
HYXF
PABU vs. HYXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) 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.
| PABU | HYXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.40 | -0.83 |
| Martin ratioReturn relative to average drawdown | 5.37 | 10.72 | -5.34 |
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Drawdowns
PABU vs. HYXF - Drawdown Comparison
The maximum PABU drawdown since its inception was -22.76%, which is greater than HYXF's maximum drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for PABU and HYXF.
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Drawdown Indicators
| PABU | HYXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.76% | -18.75% | -4.01% |
Max Drawdown (1Y)Largest decline over 1 year | -13.40% | -2.57% | -10.83% |
Max Drawdown (3Y)Largest decline over 3 years | -20.85% | -4.81% | -16.04% |
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 | -3.61% | 0.00% | -3.61% |
Average DrawdownAverage peak-to-trough decline | -5.62% | -2.57% | -3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.91% | 0.57% | +3.34% |
Volatility
PABU vs. HYXF - Volatility Comparison
iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) has a higher volatility of 5.97% compared to iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) at 1.29%. This indicates that PABU'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
| PABU | HYXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 1.29% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 3.01% | +8.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 3.83% | +10.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.76% | 8.05% | +10.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 8.31% | +10.45% |
PABU vs. HYXF - Expense Ratio Comparison
PABU has a 0.10% expense ratio, which is lower than HYXF's 0.35% expense ratio.
Dividends
PABU vs. HYXF - Dividend Comparison
PABU's dividend yield for the trailing twelve months is around 1.09%, 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% |
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF | 1.09% | 0.90% | 1.00% | 1.06% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PABU and HYXF have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PABU has higher volatility (5.97%) compared to HYXF (1.29%). In terms of maximum drawdown, PABU dropped -22.76% vs HYXF's -18.75%.
On 3-year performance, PABU leads with 18.02% vs 8.59% for HYXF. On fees, PABU is cheaper at 0.10% 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 3-year period, PABU has performed better with a 18.02% return vs 8.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PABU is cheaper with a 0.10% expense ratio, compared with 0.35% for HYXF.
HYXF has the higher dividend yield at 6.07%, compared with 1.09% for PABU.
PABU is categorized as Large Cap Blend Equities, while HYXF is High Yield Bonds. PABU tracks MSCI USA Climate Paris Aligned Benchmark Extended Select PAB Index (USD), while HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Their fees differ too: 0.10% for PABU and 0.35% for HYXF.
HYXF currently has the higher Sharpe Ratio (1.61 vs 1.50), 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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