VEGN vs. PABG.L

Last updated Jun 14, 2026

VEGN (US Vegan Climate ETF) and PABG.L (Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc) are both exchange-traded funds - VEGN is a Large Cap Growth Equities fund tracking the US Vegan Climate Index, while PABG.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, VEGN returned 16.04%/yr vs 8.94%/yr for PABG.L. At a 0.49 correlation, their price movements are largely independent. VEGN charges 0.60%/yr vs 0.20%/yr for PABG.L.

Performance

VEGN vs. PABG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in US Vegan Climate ETF (VEGN) and Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEGN is traded in USD, while PABG.L is traded in GBP. To make them comparable, the PABG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEGN achieves a 29.30% return, which is significantly higher than PABG.L's 6.96% return.

VEGN

• 1D: 1.15%
• 1M: 6.90%
• YTD: 29.30%
• 6M: 29.81%
• 1Y: 47.39%
• 3Y*: 27.86%
• 5Y*: 16.04%
• 10Y*: —

PABG.L

• 1D: 2.08%
• 1M: 5.44%
• YTD: 6.96%
• 6M: 8.47%
• 1Y: 18.27%
• 3Y*: 18.83%
• 5Y*: 8.94%
• 10Y*: —

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

VEGN vs. PABG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VEGN US Vegan Climate ETF	29.30%	13.71%	25.42%	38.10%	-26.87%	26.01%	25.07%
PABG.L Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc	6.96%	37.40%	7.19%	25.69%	-21.32%	4.13%	19.15%

Correlation

The correlation between VEGN and PABG.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 6, 2020	0.49

VEGN vs. PABG.L - Sectors Allocation Comparison

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

Return for Risk

VEGN vs. PABG.L — Risk / Return Rank

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

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

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

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.

VEGN vs. PABG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for US Vegan Climate ETF (VEGN) and Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L). 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.

	VEGN	PABG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.57	0.89	+1.68
Sortino ratio: Return per unit of downside risk	3.32	1.42	+1.90
Omega ratio: Gain probability vs. loss probability	1.44	1.17	+0.27
Calmar ratio: Return relative to maximum drawdown	3.82	1.15	+2.67
Martin ratio: Return relative to average drawdown	14.98	4.02	+10.96

VEGN vs. PABG.L - Sharpe Ratio Comparison

The current VEGN Sharpe Ratio is 2.57, which is higher than the PABG.L Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of VEGN and PABG.L, 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

VEGN vs. PABG.L - Drawdown Comparison

The maximum VEGN drawdown since its inception was -34.14%, smaller than the maximum PABG.L drawdown of -39.61%. Use the drawdown chart below to compare losses from any high point for VEGN and PABG.L.

Drawdown Indicators

	VEGN	PABG.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-39.61%	+5.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-13.62%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-20.91%	-15.38%	-5.53%
Max Drawdown (5Y) Largest decline over 5 years	-33.40%	-39.61%	+6.21%
Current Drawdown Current decline from peak	-2.71%	0.00%	-2.71%
Average Drawdown Average peak-to-trough decline	-7.57%	-8.47%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.91%	-0.89%

Volatility

VEGN vs. PABG.L - Volatility Comparison

US Vegan Climate ETF (VEGN) has a higher volatility of 8.77% compared to Lyxor Net Zero 2050 S&P Eurozone Climate PAB (DR) UCITS ETF - Acc (PABG.L) at 4.76%. This indicates that VEGN's price experiences larger fluctuations and is considered to be riskier than PABG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEGN	PABG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.77%	4.76%	+4.01%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	14.47%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	17.58%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	21.87%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.87%	21.78%	+1.09%

VEGN vs. PABG.L - Expense Ratio Comparison

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

Dividends

VEGN vs. PABG.L - Dividend Comparison

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

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 VEGN and PABG.L in my portfolio?

VEGN and PABG.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEGN or PABG.L?

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, VEGN or PABG.L?

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

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

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