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Amundi MSCI World Climate Paris Aligned Umweltzeichen UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: FR0014003FW1Ticker: PABVIssuer: Amundi
Issuer-declared data
Declared index
MSCI World Climate Change Paris Aligned Low Carbon Select PAB Index
TER
0.25%
Transaction costs
0.03% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
490.2 mln EUR
NAV
88.17 USD (1 September 2026)
Domicile
France
Inception date
13 September 2021
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi MSCI World Climate Paris Aligned Umweltzeichen UCITS ETF tracks the issuer-declared index: MSCI World Climate Change Paris Aligned Low Carbon Select PAB Index. The declared annual cost (TER) is 0.25%, plus 0.03% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 490 million euro, was launched on 13 September 2021 and is domiciled in France.

The fund’s objective — in the issuer’s words

By subscribing to Amundi MSCI World Climate Paris Aligned Umweltzeichen UCITS ETF you are investing in a passively managed UCITS whose objective is to replicate as closely as possible the performance of the MSCI World Climate Change Paris Aligned Low Carbon Select strategy index (the "Strategy Index") regardless of whether it experiences a positive or negative development. The maximum tracking error objective between the growth of the net asset value of the Fund and that of the Strategy Index, under normal market conditions, is specified in the Fund's prospectus The total net return Strategy Index (i.e. accumulating interest), net dividends reinvested, denominated in US dollars, is calculated and published by the index provider. You are exposed to the currency risk between the currencies of the equities comprising the Strategy Index and the Fund's currency. You are not, however, exposed to currency risk between the currency of the Strategy Index and the currency of the Fund. More information on the composition and operating rules of the Strategy Index can be found in the prospectus and on msci.com. The Index is available via Bloomberg (MXWOPCNU). To replicate the MSCI World Climate Change Paris Aligned Low Carbon Select Strategy Index, the Management Company applies a "passive" type of management using the direct replication method which consists of investing in financial securities that are part of the MSCI World Climate Change Paris Aligned Low Carbon Select Strategy Index in proportions that are extremely close to those of the Index. To generate additional yield, the Fund may make collateralised temporary purchases and sales of securities. The UCITS has a greenhouse gas emission reduction objective within the meaning of Article 9 of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (the "Disclosure Regulation"). The UCITS is subject to a sustainability risk as defined in the risk profile in the prospectus.

Keep reading the KID section ▾

Intended retail investors:This product is intended for investors with a basic knowledge and/or no or limited experience of investing in funds, who are seeking to increase the value of their investment over the recommended holding period and who are able to bear a loss of up to the full amount invested. The product is not open to residents of the United States of America/"U.S. Person" (the definition of "U.S. Person" is available on the Management Company's website www.amundi.com and/or in the prospectus). Redemption and transaction: The Fund's units are listed and traded on one or more stock exchanges. Under normal circumstances, you can trade units during trading hours. Only authorised participants (e.g. selected financial institutions) can trade units directly with the Fund on the primary market. Further details are provided in the Fund's prospectus.

Distribution Policy:In accordance with the prospectus, income and capital gains from sales may be capitalised or distributed at the discretion of the Management Company. More information: Further information regarding this product, including the prospectus and financial reports, is available free of charge on request from: Amundi Asset Management, 91-93 boulevard Pasteur, 75015 Paris, France.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.25%: above the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in German, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Sept 2021 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+78.5%
Annualised
+12.3%
Volatility (ann.)
17.3%
Max drawdown
-31.75%
-30%-1%+28%+57%+86%Sept 2021Dec 2022Mar 2024Jun 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+78%Sept 2021Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%202120222023202420252026−31.75% · 12 Oct 2022
Max drawdown
-31.75%
peak → trough
Trough
12 Oct 2022
from the 03 Jan 2022 peak
Recovery time
467 days
recovery only: trough to break-even · ≈ 1 year and 3 months
Underwater
749 days
decline + recovery: peak to break-even · ≈ 2 years and 1 month · → recovered on 22 Jan 2024

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
03 Jan 202212 Oct 2022-31.75%22 Jan 2024749
18 Feb 202508 Apr 2025-18.85%10 Jun 2025112
27 Jan 202630 Mar 2026-12.09%15 Apr 202678
16 Jul 202405 Aug 2024-9.74%19 Sept 202465
21 Mar 202419 Apr 2024-6.88%15 May 202455

Calendar-year returns

2021
5.1%
2022
-25.6%
2023
34.3%
2024
25.6%
2025
19.9%
2026
12.9%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.0-1.2-7.413.97.7-0.9-2.22.80.112.9
20253.4-2.6-6.11.96.24.91.32.34.53.2-0.10.119.9
20241.45.92.5-4.45.13.22.02.43.2-2.35.7-1.125.6
20239.3-1.34.10.82.26.83.2-1.9-5.4-3.711.45.534.3
2022-7.4-3.32.6-9.9-1.1-8.910.1-5.5-9.75.87.0-6.1-25.6
20217.1-1.13.45.1
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 4 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.29% /anno
Declared TER
0.25%
YearFundIndexDifference
2025+19.94%+20.23%-0.29%
2024+25.59%+25.89%-0.30%
2023+34.28%+34.55%-0.27%
2022-25.64%-25.47%-0.17%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 19 August 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 years
Volatility (ann.)14.39%15.68%17.44%
Max drawdown-10.30%-22.76%-22.76%
Sharpe1.240.990.62
Sortino1.821.400.88
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
751
Top-10 weight
36.3%

Top 10 holdings

MICROSOFT CORP · MSFT UW
4.65%
ADVANCED MICRO DEVICES · AMD UW
4.30%
APPLE INC · AAPL UW
4.21%
NVIDIA CORP · NVDA UW
3.82%
AMAZON.COM INC · AMZN UW
3.81%
BROADCOM INC · AVGO UW
3.48%
TESLA INC · TSLA UW
3.41%
ELI LILLY & CO · LLY UN
3.14%
ALPHABET INC CL A · GOOGL UW
3.07%
ALPHABET INC CL C · GOOG UW
2.41%

Sectors

Information Technology
38.5%
Financials
15.2%
Consumer Discretionary
11.6%
Communication Services
9.4%
Health Care
9.3%
Industrials
6.9%
Real Estate
6.1%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.2%Austria: 0.1%AzerbaijanBurundiBelgium: 0.5%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3.3%Switzerland: 1.3%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 1.4%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.8%EstoniaEthiopiaFinland: 0.1%FijiFalkland IslandsFrance: 3.7%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.2%IranIraqIcelandIsrael: 0.4%Italy: 0.8%JamaicaJordanJapan: 4.6%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 0.6%Norway: 0.1%NepalNew Zealand: 0.1%OmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 0.2%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.7%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 77.7%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States77.7%
Japan4.6%
France3.7%
Canada3.3%
United Kingdom1.8%
Germany1.4%
Switzerland1.3%
Download the full portfolio — Excel, 752 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfPABV5 Oct 2021
Börse FrankfurtPABV28 Sept 2021
Börse HamburgPABV13 Oct 2021
Börse HannoverPABV9 Dec 2024
Börse München / gettexPABV28 Sept 2021
Börse StuttgartPABV30 Sept 2021
Tradegate ExchangePABV20 Oct 2021
Xetra (Deutsche Börse)PABV28 Sept 2021
+ 17 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi MSCI World Climate Paris Aligned Umweltzeichen UCITS ETF track?
The issuer Amundi declares the benchmark: MSCI World Climate Change Paris Aligned Low Carbon Select PAB Index.
How much does PABV cost?
The issuer-declared TER is 0.25% per year; the transaction costs estimated in the KID are 0.03%.
What is the fund size of PABV?
The fund size declared by Amundi is about 490 million euro.
When was PABV launched?
The fund was launched on 13 September 2021: it has 4 years of history.
How does PABV replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does PABV pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation and/or distribution”).
Where does PABV trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (PABV), Börse Frankfurt (PABV), Börse Hamburg (PABV), Börse Hannover (PABV), Börse München / gettex (PABV), Börse Stuttgart (PABV).
What was PABV's worst fall?
Over the available history (since 2021), the maximum drawdown was -31.75%, reached in October 2022. Past performance is not indicative of future results.
How many securities does PABV hold?
The declared portfolio holds 751 securities; the top 10 positions weigh 36.3%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.