PABU vs. USXF

Last updated Jun 16, 2026

PABU (iShares Paris-Aligned Climate Optimized MSCI USA ETF) and USXF (iShares ESG Advanced MSCI USA 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 USXF is a Large Cap Growth Equities fund tracking the MSCI USA Choice ESG Screened Index. Both are passively managed. Over the past 3 years, PABU returned 18.02%/yr vs 25.87%/yr for USXF. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

PABU vs. USXF - 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 Advanced MSCI USA ETF (USXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PABU achieves a 6.81% return, which is significantly lower than USXF's 20.37% return.

PABU

• 1D: 1.98%
• 1M: 1.91%
• YTD: 6.81%
• 6M: 7.83%
• 1Y: 20.95%
• 3Y*: 18.02%
• 5Y*: —
• 10Y*: —

USXF

• 1D: 2.44%
• 1M: 5.10%
• YTD: 20.37%
• 6M: 21.61%
• 1Y: 36.09%
• 3Y*: 25.87%
• 5Y*: 15.64%
• 10Y*: —

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

PABU vs. USXF - 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%
USXF iShares ESG Advanced MSCI USA ETF	20.37%	16.97%	26.16%	31.65%	-14.10%

Correlation

The correlation between PABU and USXF is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.90

The correlation between PABU and USXF has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

PABU vs. USXF - Sectors Allocation Comparison

Sectors	PABU	USXF
Technology	52.1%	53.9%
Real Estate	16.6%	4.0%
Communication Services	8.4%	2.0%
Financial Services	6.8%	15.1%
Consumer Cyclical	6.0%	6.6%
Healthcare	5.7%	5.7%
Industrials	1.6%	8.0%
Utilities	1.6%	1.1%
Energy	0.9%	0.1%
Basic Materials	0.5%	2.3%
Consumer Defensive	-	0.9%

Return for Risk

PABU vs. USXF — Risk / Return Rank

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

PABU

PABU Risk / Return Rank: 40
PABU Sharpe Ratio Rank: 45
PABU Sortino Ratio Rank: 43
PABU Omega Ratio Rank: 44
PABU Calmar Ratio Rank: 33
PABU Martin Ratio Rank: 37

USXF

USXF Risk / Return Rank: 72
USXF Sharpe Ratio Rank: 72
USXF Sortino Ratio Rank: 66
USXF Omega Ratio Rank: 68
USXF Calmar Ratio Rank: 76
USXF Martin Ratio Rank: 78

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. USXF - 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 MSCI USA ETF (USXF). 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	USXF	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.10	-0.60
Sortino ratio: Return per unit of downside risk	2.05	2.77	-0.71
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	1.57	3.56	-1.99
Martin ratio: Return relative to average drawdown	5.37	13.71	-8.33

PABU vs. USXF - Sharpe Ratio Comparison

The current PABU Sharpe Ratio is 1.50, which is comparable to the USXF Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of PABU and USXF, 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. USXF - Drawdown Comparison

The maximum PABU drawdown since its inception was -22.76%, smaller than the maximum USXF drawdown of -29.54%. Use the drawdown chart below to compare losses from any high point for PABU and USXF.

Drawdown Indicators

	PABU	USXF	Difference
Max Drawdown Largest peak-to-trough decline	-22.76%	-29.54%	+6.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.40%	-10.19%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	-20.85%	-20.93%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.54%	—
Current Drawdown Current decline from peak	-3.61%	-0.83%	-2.78%
Average Drawdown Average peak-to-trough decline	-5.62%	-6.40%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	2.64%	+1.27%

Volatility

PABU vs. USXF - Volatility Comparison

The current volatility for iShares Paris-Aligned Climate Optimized MSCI USA ETF (PABU) is 5.97%, while iShares ESG Advanced MSCI USA ETF (USXF) has a volatility of 7.98%. This indicates that PABU experiences smaller price fluctuations and is considered to be less risky than USXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PABU	USXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	7.98%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	11.32%	14.39%	-3.07%
Volatility (1Y) Calculated over the trailing 1-year period	14.06%	17.29%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.76%	19.76%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.76%	19.31%	-0.55%

PABU vs. USXF - Expense Ratio Comparison

Both PABU and USXF 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. USXF - Dividend Comparison

PABU's dividend yield for the trailing twelve months is around 1.09%, more than USXF's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
PABU iShares Paris-Aligned Climate Optimized MSCI USA ETF	1.09%	0.90%	1.00%	1.06%	1.00%	0.00%	0.00%
USXF iShares ESG Advanced MSCI USA ETF	0.98%	0.93%	1.00%	1.21%	1.39%	0.86%	0.58%

Frequently Asked Questions

Can I hold both PABU and USXF in my portfolio?

PABU and USXF have a correlation of 0.88, 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 USXF?

USXF has higher volatility (7.98%) compared to PABU (5.97%). In terms of maximum drawdown, PABU dropped -22.76% vs USXF's -29.54%.

Which ETF is better, PABU or USXF?

On 3-year performance, USXF leads with 25.87% vs 18.02% for PABU. Both ETFs have the same 0.10% expense ratio. On volatility, PABU has been the lower-risk option at 5.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PABU or USXF?

Over the 3-year period, USXF has performed better with a 25.87% return vs 18.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PABU or USXF?

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

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

PABU has the higher dividend yield at 1.09%, compared with 0.98% for USXF.

What is the main difference between PABU and USXF?

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

Which has better risk-adjusted returns?

USXF currently has the higher Sharpe Ratio (2.10 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.