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Invesco MSCI World ESG Climate Paris Aligned UCITS ETF Acc is an exchange-traded fund (ETF) from Invesco, traded under the ticker PAWD (ISIN IE000V93BNU0). In a single purchase you get a diversified basket of holdings rather than a stake in just one business. In plain terms it is about owning small slices of companies, so you share in their growth when they do well — and their falls when they don't, spread broadly across markets worldwide. Rather than a manager picking stocks, it simply replicates the MSCI World ESG Climate Paris Aligned Benchmark PAB Select Index index — the passive, low-cost approach, and its largest holdings include NVIDIA CORP USD0.001, MICROSOFT CORP USD0.00000625 and APPLE INC USD0.00001. It holds around 370 positions (the ten largest ≈ 26.8%), spreading risk so no single holding decides your outcome. Its biggest country exposures are ~65.7% United States, ~5.7% Japan and ~4.2% Canada. By industry it concentrates most in ~34.4% Technology and ~20.8% Financials. Investors often use a broad fund like this as a long-term 'core' holding — a single building block that covers much of a global portfolio in one trade. Its ongoing charge (TER) is 0.19% a year — about €19 a year on a €10,000 holding, taken automatically from the fund; counting the trading costs inside the fund, the all-in figure is around 0.21%. Income such as dividends is automatically reinvested inside the fund (an accumulating share class), so returns compound without you doing anything. It holds the underlying investments directly (physical replication); it is domiciled in Ireland and UCITS-regulated, a European standard built to protect everyday investors and trades in USD. On the standard KID risk scale it is rated 4 out of 7 and its price has swung about 11.7% over the past year, which describes how much its price tends to move rather than whether it is good. It launched in 2021, and its KID suggests a holding period of 5 years. Like any investment, it can lose value as well as gain, and what it did before does not predict what it will do next. (Fund data sourced from Invesco.)