PABU vs. SUSL

Last updated Jun 4, 2026

PABU (iShares Paris-Aligned Climate Optimized MSCI USA ETF) and SUSL (iShares ESG MSCI USA Leaders 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 SUSL is a Large Cap Growth Equities fund tracking the MSCI USA Extended ESG Leaders Index. Both are passively managed. Over the past 3 years, PABU returned 20.14%/yr vs 22.34%/yr for SUSL. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

PABU vs. SUSL - 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 iShares ESG MSCI USA Leaders ETF (SUSL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PABU having a 9.39% return and SUSL slightly lower at 9.27%.

PABU

• 1D: -1.29%
• 1M: 7.47%
• YTD: 9.39%
• 6M: 9.10%
• 1Y: 23.78%
• 3Y*: 20.14%
• 5Y*: —
• 10Y*: —

SUSL

• 1D: -0.94%
• 1M: 4.53%
• YTD: 9.27%
• 6M: 10.06%
• 1Y: 27.64%
• 3Y*: 22.34%
• 5Y*: 13.77%
• 10Y*: —

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

PABU vs. SUSL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	9.39%	13.08%	24.84%	29.51%	-15.45%
SUSL iShares ESG MSCI USA Leaders ETF	9.27%	18.97%	23.51%	29.08%	-13.04%

Correlation

The correlation between PABU and SUSL is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 14, 2022	0.93

The correlation between PABU and SUSL has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

PABU vs. SUSL - Sectors Allocation Comparison

Sectors	PABU	SUSL
Technology	44.9%	36.9%
Real Estate	12.4%	2.2%
Financial Services	11.2%	10.6%
Communication Services	10.4%	14.5%
Consumer Cyclical	9.0%	8.6%
Healthcare	7.4%	9.6%
Industrials	2.5%	8.1%
Utilities	1.8%	1.1%
Energy	0.7%	2.1%
Basic Materials	0.5%	2.1%
Consumer Defensive	-	4.2%

Return for Risk

PABU vs. SUSL — Risk / Return Rank

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

PABU

PABU Risk / Return Rank: 46
PABU Sharpe Ratio Rank: 52
PABU Sortino Ratio Rank: 51
PABU Omega Ratio Rank: 50
PABU Calmar Ratio Rank: 36
PABU Martin Ratio Rank: 40

SUSL

SUSL Risk / Return Rank: 60
SUSL Sharpe Ratio Rank: 63
SUSL Sortino Ratio Rank: 64
SUSL Omega Ratio Rank: 62
SUSL Calmar Ratio Rank: 50
SUSL Martin Ratio Rank: 59

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.

PABU vs. SUSL - 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 MSCI USA Leaders ETF (SUSL). 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.

	PABU	SUSL	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.14	-0.35
Sortino ratio: Return per unit of downside risk	2.48	2.99	-0.51
Omega ratio: Gain probability vs. loss probability	1.31	1.38	-0.07
Calmar ratio: Return relative to maximum drawdown	1.78	2.44	-0.66
Martin ratio: Return relative to average drawdown	6.25	10.49	-4.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PABU vs. SUSL - Sharpe Ratio Comparison

The current PABU Sharpe Ratio is 1.79, which is comparable to the SUSL Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of PABU and SUSL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PABU	SUSL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.14	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.85	-0.13

Drawdowns

PABU vs. SUSL - Drawdown Comparison

The maximum PABU drawdown since its inception was -22.76%, smaller than the maximum SUSL drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for PABU and SUSL.

Drawdown Indicators

	PABU	SUSL	Difference
Max Drawdown Largest peak-to-trough decline	-22.76%	-34.26%	+11.50%
Max Drawdown (1Y) Largest decline over 1 year	-13.40%	-11.37%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-20.85%	-19.91%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.98%	—
Current Drawdown Current decline from peak	-1.29%	-1.38%	+0.09%
Average Drawdown Average peak-to-trough decline	-5.63%	-5.70%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	2.64%	+1.18%

Volatility

PABU vs. SUSL - Volatility Comparison

iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) and iShares ESG MSCI USA Leaders ETF (SUSL) have volatilities of 3.70% and 3.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABU	SUSL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	3.68%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	9.98%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	12.98%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.68%	17.48%	+1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	19.80%	-1.12%

PABU vs. SUSL - Expense Ratio Comparison

Both PABU and SUSL have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PABU vs. SUSL - Dividend Comparison

PABU's dividend yield for the trailing twelve months is around 0.86%, less than SUSL's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	0.86%	0.90%	1.00%	1.06%	1.00%	0.00%	0.00%	0.00%
SUSL iShares ESG MSCI USA Leaders ETF	0.93%	0.99%	1.10%	1.27%	1.57%	1.12%	1.38%	1.12%

Frequently Asked Questions

Can I hold both PABU and SUSL in my portfolio?

With a correlation of 0.94, PABU and SUSL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PABU or SUSL?

PABU has higher volatility (3.70%) compared to SUSL (3.68%). In terms of maximum drawdown, PABU dropped -22.76% vs SUSL's -34.26%.

Which ETF is better, PABU or SUSL?

On 3-year performance, SUSL leads with 22.34% vs 20.14% for PABU. Both ETFs have the same 0.10% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABU or SUSL?

Over the 3-year period, SUSL has performed better with a 22.34% return vs 20.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABU or SUSL?

PABU and SUSL have the same expense ratio: 0.10% per year.

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

SUSL has the higher dividend yield at 0.93%, compared with 0.86% for PABU.

What is the main difference between PABU and SUSL?

PABU is categorized as Large Cap Blend Equities, while SUSL is Large Cap Growth Equities. PABU tracks MSCI USA Climate Paris Aligned Benchmark Extended Select PAB Index (USD), while SUSL tracks MSCI USA Extended ESG Leaders Index.

Which has better risk-adjusted returns?

SUSL currently has the higher Sharpe Ratio (2.14 vs 1.79), 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.