PABU vs. QUS

Last updated Aug 4, 2026

PABU (iShares Paris-Aligned Climate Optimized MSCI USA ETF) and QUS (State Street SPDR MSCI USA StrategicFactors ETF) are both Large Cap Blend Equities funds - PABU tracks the MSCI USA Climate Paris Aligned Benchmark Extended Select PAB Index (USD) while QUS tracks the MSCI USA Factor Mix A-Series Capped Index. Both are passively managed. Over the past 3 years, PABU returned 17.28%/yr vs 17.10%/yr for QUS. Their correlation of 0.86 means they have usually moved in the same direction. PABU charges 0.10%/yr vs 0.15%/yr for QUS.

Performance

PABU vs. QUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) and State Street SPDR MSCI USA StrategicFactors ETF (QUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PABU achieves a 6.01% return, which is significantly lower than QUS's 10.23% return.

PABU

• 1D: 1.68%
• 1M: 1.31%
• 6M: 8.07%
• YTD: 6.01%
• 1Y: 15.80%
• 3Y*: 17.28%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.67%

QUS

• 1D: 0.83%
• 1M: 1.29%
• 6M: 7.60%
• YTD: 10.23%
• 1Y: 19.80%
• 3Y*: 17.10%
• 5Y*: 10.91%
• 10Y*: 13.54%
• ALL TIME*: 12.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	$309.37K	$293.89K	$1.47M
QUS State Street SPDR MSCI USA StrategicFactors ETF	$3.01M	$4.81M	$3.43M

PABU vs. QUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	6.01%	13.08%	24.84%	29.51%	-15.45%
QUS State Street SPDR MSCI USA StrategicFactors ETF	10.23%	14.13%	18.99%	21.78%	-8.89%

Correlation

The correlation between PABU and QUS is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.86

The correlation between PABU and QUS has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

PABU vs. QUS - Sectors Allocation Comparison

Sectors	PABU	QUS
Technology	52.8%	28.4%
Real Estate	16.3%	1.6%
Communication Services	8.2%	8.2%
Financial Services	7.0%	15.7%
Consumer Cyclical	6.3%	5.7%
Healthcare	5.9%	14.4%
Industrials	1.9%	8.1%
Utilities	1.7%	3.9%
Energy	0.7%	3.3%
Basic Materials	0.5%	2.2%
Consumer Defensive	-	8.3%

Return for Risk

PABU vs. QUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PABU

PABU Risk / Return Rank: 38
PABU Sharpe Ratio Rank: 41
PABU Sortino Ratio Rank: 39
PABU Omega Ratio Rank: 38
PABU Calmar Ratio Rank: 34
PABU Martin Ratio Rank: 35

QUS

QUS Risk / Return Rank: 85
QUS Sharpe Ratio Rank: 87
QUS Sortino Ratio Rank: 88
QUS Omega Ratio Rank: 86
QUS Calmar Ratio Rank: 78
QUS Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PABU vs. QUS - 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 State Street SPDR MSCI USA StrategicFactors ETF (QUS). 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	QUS	Difference
Sharpe ratio: Return per unit of total volatility	1.08	2.16	-1.08
Sortino ratio: Return per unit of downside risk	1.54	3.05	-1.51
Omega ratio: Gain probability vs. loss probability	1.19	1.39	-0.20
Calmar ratio: Return relative to maximum drawdown	1.18	2.90	-1.72
Martin ratio: Return relative to average drawdown	3.53	12.95	-9.42

PABU vs. QUS - Sharpe Ratio Comparison

The current PABU Sharpe Ratio is 1.08, which is lower than the QUS Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of PABU and QUS, 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

PABU vs. QUS - Drawdown Comparison

The maximum PABU drawdown since its inception was -22.76%, smaller than the maximum QUS drawdown of -33.78%. Use the drawdown chart below to compare losses from any high point for PABU and QUS.

Drawdown Indicators

	PABU	QUS	Difference
Max Drawdown Largest peak-to-trough decline	-22.76%	-33.78%	+11.02%
Max Drawdown (1Y) Largest decline over 1 year	-13.40%	-6.85%	-6.55%
Max Drawdown (3Y) Largest decline over 3 years	-20.85%	-13.94%	-6.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.78%	—
Current Drawdown Current decline from peak	-4.34%	0.00%	-4.34%
Average Drawdown Average peak-to-trough decline	-5.63%	-3.66%	-1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	1.53%	+2.95%

Volatility

PABU vs. QUS - Volatility Comparison

iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) has a higher volatility of 4.37% compared to State Street SPDR MSCI USA StrategicFactors ETF (QUS) at 2.42%. This indicates that PABU's price experiences larger fluctuations and is considered to be riskier than QUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABU	QUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	2.42%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	11.97%	6.97%	+5.00%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	9.22%	+5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.68%	14.32%	+4.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	16.40%	+2.28%

PABU vs. QUS - Expense Ratio Comparison

PABU has a 0.10% expense ratio, which is lower than QUS's 0.15% 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

PABU vs. QUS - Dividend Comparison

PABU's dividend yield for the trailing twelve months is around 0.92%, less than QUS's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	0.92%	0.90%	1.00%	1.06%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QUS State Street SPDR MSCI USA StrategicFactors ETF	1.27%	1.38%	1.49%	1.57%	1.68%	1.27%	1.73%	1.81%	2.12%	1.86%	2.07%	1.48%

Frequently Asked Questions

Can I hold both PABU and QUS in my portfolio?

PABU and QUS have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PABU or QUS?

PABU has higher volatility (4.37%) compared to QUS (2.42%). In terms of maximum drawdown, PABU dropped -22.76% vs QUS's -33.78%.

Which ETF is better, PABU or QUS?

On 3-year performance, PABU leads with 17.28% vs 17.10% for QUS. On fees, PABU is cheaper at 0.10% per year. On volatility, QUS has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABU or QUS?

Over the 3-year period, PABU has performed better with a 17.28% return vs 17.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABU or QUS?

PABU is cheaper with a 0.10% expense ratio, compared with 0.15% for QUS.

Which ETF pays a higher dividend yield, PABU or QUS?

QUS has the higher dividend yield at 1.27%, compared with 0.92% for PABU.

What is the main difference between PABU and QUS?

PABU tracks MSCI USA Climate Paris Aligned Benchmark Extended Select PAB Index (USD), while QUS tracks MSCI USA Factor Mix A-Series Capped Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for PABU and 0.15% for QUS.

Which has better risk-adjusted returns?

QUS currently has the higher Sharpe Ratio (2.16 vs 1.08), 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.