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PBEU

GradeBNASDAQ Global Market

Portfolio Building Block European Banks Index ETF

Sectors · Portfolio Building Block ETFs · Inception 2025-11-24 · SEC filings

$34.74−0.48 (−1.38%)

As of Sep 23, 2026, 2:03 PM EDT

History starts Nov 25, 2025.History starts Nov 25, 2025.
Intraday session: down, 23 prints from 35.23 to 34.74. Range 34.63 to 35.07. Use the arrow keys to read each point.$34.60$34.80$35.0010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$467M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$35.49
52W range
low $25.81high $36.31

The ETF.net PBEU Grade

B

58/ 100

Rank 4 of 9 in Banks⁠

Confidence Medium

Six-pillar profile for PBEU. Scores out of 100: Cost 92, Risk 38, Mission not scored, Tradability 45, Holdings 20, Durability 42. Strongest: Cost (92). Weakest: Holdings (20). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 58 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 92
    Category rank1/9 · top 11%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 38
    Category rank7/9 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 45
    Category rank6/9 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 20
    Category rank9/9 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 42
    Category rank8/9 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on PBEU

ETF.net Research

BAlmost every US-listed bank ETF is a basket of American lenders. PBEU aims the same idea at Europe, tracking an index of European banks for 0.25% a year, under the 0.35% its bank-ETF peers typically charge.

Stated mandate

The fund is an exchange-traded index vehicle focused on European banks.

Why people hold it

  1. 01Cheapest of the bank ETFs at the top of its group: 0.25% a year versus the 0.35% charged by KBE, KBWB, GSIB and KRE, and below the cohort median.
  2. 02A single-ticket route to European lenders inside a peer group otherwise stocked with US baskets: large-cap banks, regional banks, global systemically important banks.
  3. 03Plain plumbing. A 1940 Act index fund holding bank shares, with no leverage, options overlay or derivatives wrapper between you and the sector.
  4. 04Lands in the upper half of the bank ETFs we grade, with its fee doing much of the heavy lifting.

Worth knowing

  1. 01One sector in one region. Bank stocks move together, and there is no US or non-financial ballast in the basket to soften a rough stretch for European lenders.
  2. 02Launched in 2025, so it has not yet traded through a full banking cycle the way the decades-old names in its group have.
  3. 03Trades moderately rather than heavily, so spreads can run wider than on group veterans like KBE or KRE, especially outside European market hours.

PBEU Holdings

As of Sep 20, 2026, 9:24 AM
Asset class
Stocks
Holdings
—
Top-10 weight
62%
Largest holding
HSBA.L15.0%

Geography

  • United Kingdom28.61%
  • Spain21.09%
  • Italy15.51%
  • France9.28%
  • Netherlands4.78%
  • Sweden3.46%
  • Austria3.28%
  • Finland3.08%
  • Other countries (8)10.92%

Developed 100% · Emerging 0% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001HSBA.LHSBC HOLDINGS PLC15.03%3,440,981$71M145
002SAN.MCBANCO SANTANDER SA9.31%2,942,369$44M134
003BBVABANCO BILBAO VIZCAYA ARGENTA7.04%1,146,417$33M44
004UCG.MIUNICREDIT SPA5.55%271,399$26M154
005BNPQYBNP PARIBAS5.18%204,429$24M15
006INGING GROEP NV4.66%590,251$22M27
007ISP.MIINTESA SANPAOLO4.59%2,755,767$22M140
008LYGLLOYDS BANKING GROUP PLC3.90%12,227,327$18M12
009BCSBARCLAYS PLC3.53%2,591,611$17M28
010NDA-FI.HENORDEA BANK ABP3.00%686,099$14M104
011SCGLYSOCIETE GENERALE SA2.70%149,175$13M5
012CAIXYCAIXABANK SA2.50%788,137$12M3
013NWG.LNATWEST GROUP PLC2.48%1,223,159$12M146
014STAN.LSTANDARD CHARTERED PLC2.43%365,793$11M139
015CRZBYCOMMERZBANK AG2.07%203,095$10M5

Showing 1–15 of 59 holdings

PBEU Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

PBEU$12,233
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. PBEU $12,233. SPY $11,430. Use the arrow keys to read each point.$8,735$10,807$12,880Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for PBEU. Periods over one year show the average yearly return.
PeriodPBEU
Year to date+22.3%
1 month−1.2%
3 months+6.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for PBEU
YearReturn barPBEU
2026 YTD+22.3%
2025+11.5%

History from Nov 25, 2025

PBEU in the news

ETF.net Research hasn’t filed on PBEU yet — coverage lands here as it’s written.

PBEU Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.0026 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.0026. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.0026

PBEU Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Nov 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.82
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

PBEU Cost

Expense ratio0.25%
  • The middle half of Banks funds
  • Median 0.35%

No Banks fund charges less.

PBEU costs $25.00 a year on $10,000. The median Banks fund costs $35.00.