Highlights

  • PABU follows a defined index Investment mandate.
  • The fund reported 86 holdings on 4 November 2026.
  • Net Assets were approximately USD 2.32 billion on 5 November 2026.
  • The expense ratio is 0.10%, with quarterly distributions listed.

iShares Paris-Aligned Climate Optimized MSCI USA ETF (NASDAQ:PABU) seeks to track the MSCI USA Climate Paris Aligned Benchmark Extended Select Index. PABU closed at USD 78.00 on 4 November 2026. Net assets were approximately USD 2.32 billion on 5 November 2026. The fund’s investment universe and the weight of its individual positions define the exposure available through its shares.

Investment mandate and underlying exposure

The fund targets large and mid-sized U.S. companies through a benchmark designed around Paris Agreement climate objectives. The investment approach incorporates transition and physical climate risk considerations. Its mandate describes a rules-based Equity selection process rather than a guarantee that future climate outcomes will occur.

The leading disclosed positions include large technology companies and a healthcare business. This illustrates the fund’s exposure to established equity market constituents within its climate framework. Individual company weights still matter when assessing concentration, regardless of the benchmark’s environmental objectives.

Holdings weights and portfolio structure

As of 4 November 2026, Nvidia represented 8.73%; Microsoft represented 8.48%; Apple represented 7.88%; Eli Lilly represented 3.99%; Tesla Inc represented 3.46%; Advanced Micro Devices represented 3.46%.

The holdings weights describe individual security positions on the stated date and can change. Comparing the largest weights with the full holdings count helps distinguish security breadth from company concentration. A portfolio with many constituents can still be influenced materially by a smaller group of leading businesses.

Fund costs distributions and risks

The listed expense ratio is 0.10%, and distributions are scheduled quarterly. Fund distributions can vary with portfolio income and other relevant cash flows. The expense ratio describes a fund-level cost; trading shares can also involve Transaction Costs and a difference between the prices available to buyers and sellers.

Company results, stock valuations and changes in climate policy can influence the portfolio. Climate data and modelling assumptions can also affect selection. A Paris-aligned benchmark does not remove Market Risk or ensure that each underlying company will meet its stated targets.

Key Insights

PABU provides a defined exposure through its benchmark mandate. The leading disclosed positions include large technology companies and a healthcare business. The 86 reported holdings, their individual weights and the 0.10% expense ratio are relevant to interpreting the portfolio. The mandate and underlying instruments determine which economic risks remain shared across otherwise separate positions.