A simple multi-physical system for the potential flow of a fluid through a shroud in which a mechanical component, like a turbine vane, is placed, is modeled mathematically. We then consider a multi criteria shape optimization problem, when the shape of the component is allowed to vary under a certain set of 2nd order Hölder continuous differentiable transformations of a baseline shape with boundary of the same continuity class. As objective functions, we consider a simple loss model for the fluid dynamical efficiency and the probability of failure of the component due to repeated application of loads that stem from the fluid's static pressure. For this multi-physical system, it is shown that under certain conditions the Pareto front is maximal in the sense that the Pareto front of the feasible set coincides with Pareto front of its closure. We also show that the set of all optimal forms with respect to scalarization techniques deforms continuously (in the Hausdorff metric) with respect to preference parameters.