PABD vs SPY
iShares Paris-Aligned Climate Optimized MSCI World ex USA ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PABD or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. PABD is less concentrated, with 14.7% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PABD | SPY |
|---|---|---|
| Expense Ratio | 0.12% | 0.09%Best |
| AUM | $332M | $804.7B |
| Dividend Yield | 2.96% | 0.98% |
| Holdings | 432 | 505 |
| YTD Return | +8.53% | +12.19%Best |
| 1Y Return | +15.66% | +18.53%Best |
| 3Y Return (annualized) | - | +20.88% |
| 5Y Return (annualized) | - | +12.69% |
| Volatility (annualized) | 11.9%Best | 12.0% |
| Max Drawdown | -12.7%Best | -18.8% |
| $10,000 over 2.6 years | $15,466 | $16,162Best |
| Top 10 Weight | 14.7%Best | 38.0% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 17, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Jan 19, 2024 to Sep 9, 2026 (2.6 years).
PABD vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.6 years both funds cover.
PABD vs SPY Performance
iShares Paris-Aligned Climate Optimized MSCI World ex USA ETF (PABD) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PABD returned +15.66% while SPY returned +18.53%. Year to date, PABD is up 8.53% versus a gain of 12.19% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 11.9% for PABD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.7% for PABD and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
PABD charges 0.12% per year while SPY charges 0.09%. On a $10,000 position that is $12 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, PABD currently yields 2.96% against 0.98% for SPY.
Holdings Overlap
2.0% of PABD's money is in holdings SPY also owns. 0.6% of SPY's money is in holdings PABD also owns.
PABD and SPY share little of their money.
4 positions in common, counted across the 397 positions we hold weights for in PABD and 504 in SPY, against full books of 432 and 505.
What only one of them owns
Our book lists 491 positions for SPY that do not appear in our book for PABD (98.9% of the fund), and 8 for PABD that do not appear in SPY (1.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PABD and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PABD or SPY?
PABD has an expense ratio of 0.12% while SPY charges 0.09%. SPY is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, PABD or SPY?
Over the past year PABD returned +15.66% vs +18.53% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PABD or SPY?
SPY has been the more volatile fund at 12.0% annualized versus 11.9% for PABD. Worst drawdown: PABD -12.7% vs SPY -18.8%.
Should I hold both PABD and SPY?
PABD and SPY have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PABD and SPY?
2.0% of PABD's money is in holdings SPY also owns. 0.6% of SPY's is in holdings PABD also owns. They hold 4 positions in common, counted across the 397 positions we hold weights for in PABD and 504 in SPY.
Which pays a higher dividend, PABD or SPY?
PABD yields 2.96% while SPY yields 0.98%, so PABD currently pays the higher dividend yield.
Is SPY better than PABD?
SPY has a lower expense ratio. SPY led over 1Y and the full window. PABD is less concentrated, with 14.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.