PABD vs SPY
PABD vs SPY
iShares Paris-Aligned Climate Optimized MSCI World ex USA ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PABD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.12% | 0.09% | |
| AUM | $327M | $789.1B | |
| Dividend Yield | 3.02% | 1.01% | |
| Holdings | 432 | 505 | |
| YTD Return | +8.83% | +11.49% | |
| 1Y Return | +20.99% | +21.37% | |
| 3Y Return (annualized) | - | +20.76% | |
| 5Y Return (annualized) | - | +12.94% | |
| Volatility (annualized) | 12.0% | 15.3% | |
| Max Drawdown | -12.7% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 17, 2024 | Jan 22, 1993 |
PABD vs SPY Performance
iShares Paris-Aligned Climate Optimized MSCI World ex USA ETF (PABD) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PABD returned +20.99% while SPY returned +21.37%. Year to date, PABD is up 8.83% versus a gain of 11.49% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.0% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
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 3.02% against 1.01% for SPY.
Holdings Overlap
PABD and SPY share 4 holdings out of 903 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
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. On a $10,000 investment, that is $3 per year of difference.
Which performed better, PABD or SPY?
Over the past year PABD returned +20.99% vs +21.37% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), PABD annualized +19.18% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, PABD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.0% for PABD. Worst drawdown: PABD -12.7% vs SPY -56.5%.
Should I hold both PABD and SPY?
PABD and SPY have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PABD and SPY?
PABD and SPY share 4 common holdings with a 0.3% weight overlap. Combined, they hold 903 unique securities.
Which pays a higher dividend, PABD or SPY?
PABD yields 3.02% while SPY yields 1.01%, so PABD currently pays the higher dividend yield.
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