AUAD.L vs. ITWN.L

Last updated Jun 5, 2026

AUAD.L (UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds - AUAD.L tracks the MSCI Australia NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 5 years, AUAD.L returned 6.87%/yr vs 22.94%/yr for ITWN.L. At a 0.38 correlation, their price movements are largely independent. AUAD.L charges 0.40%/yr vs 0.74%/yr for ITWN.L.

Performance

AUAD.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis (AUAD.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUAD.L achieves a 10.41% return, which is significantly lower than ITWN.L's 67.93% return.

AUAD.L

• 1D: -0.77%
• 1M: 0.41%
• YTD: 10.41%
• 6M: 11.49%
• 1Y: 15.16%
• 3Y*: 9.79%
• 5Y*: 6.87%
• 10Y*: —

ITWN.L

• 1D: -1.63%
• 1M: 12.15%
• YTD: 67.93%
• 6M: 70.24%
• 1Y: 115.82%
• 3Y*: 40.47%
• 5Y*: 22.94%
• 10Y*: 23.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUAD.L vs. ITWN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AUAD.L UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis	10.41%	6.19%	3.38%	7.37%	5.97%	8.63%	40.70%
ITWN.L iShares MSCI Taiwan UCITS ETF	67.93%	22.61%	25.77%	21.84%	-21.08%	29.84%	44.66%

Correlation

The correlation between AUAD.L and ITWN.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 27, 2020	0.38

AUAD.L vs. ITWN.L - Sectors Allocation Comparison

Sectors	AUAD.L	ITWN.L
Financial Services	43.6%	10.9%
Basic Materials	23.0%	2.0%
Consumer Cyclical	6.1%	1.2%
Real Estate	5.0%	-
Healthcare	4.9%	0.6%
Energy	4.5%	-
Industrials	4.5%	2.4%
Consumer Defensive	3.6%	0.8%
Communication Services	2.0%	1.4%
Utilities	1.7%	-
Technology	1.1%	80.7%

Return for Risk

AUAD.L vs. ITWN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUAD.L

AUAD.L Risk / Return Rank: 34
AUAD.L Sharpe Ratio Rank: 33
AUAD.L Sortino Ratio Rank: 35
AUAD.L Omega Ratio Rank: 31
AUAD.L Calmar Ratio Rank: 38
AUAD.L Martin Ratio Rank: 33

ITWN.L

ITWN.L Risk / Return Rank: 97
ITWN.L Sharpe Ratio Rank: 98
ITWN.L Sortino Ratio Rank: 97
ITWN.L Omega Ratio Rank: 96
ITWN.L Calmar Ratio Rank: 97
ITWN.L Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUAD.L vs. ITWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis (AUAD.L) and iShares MSCI Taiwan UCITS ETF (ITWN.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AUAD.L	ITWN.L	Difference
Sharpe ratio: Return per unit of total volatility	1.17	5.10	-3.93
Sortino ratio: Return per unit of downside risk	1.80	5.92	-4.11
Omega ratio: Gain probability vs. loss probability	1.21	1.81	-0.60
Calmar ratio: Return relative to maximum drawdown	1.83	12.46	-10.63
Martin ratio: Return relative to average drawdown	4.87	34.79	-29.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUAD.L vs. ITWN.L - Sharpe Ratio Comparison

The current AUAD.L Sharpe Ratio is 1.17, which is lower than the ITWN.L Sharpe Ratio of 5.10. The chart below compares the historical Sharpe Ratios of AUAD.L and ITWN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AUAD.L	ITWN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	5.10	-3.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	1.10	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.64	+0.33

Drawdowns

AUAD.L vs. ITWN.L - Drawdown Comparison

The maximum AUAD.L drawdown since its inception was -21.75%, smaller than the maximum ITWN.L drawdown of -48.27%. Use the drawdown chart below to compare losses from any high point for AUAD.L and ITWN.L.

Drawdown Indicators

	AUAD.L	ITWN.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.75%	-48.27%	+26.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.32%	-9.36%	+1.04%
Max Drawdown (3Y) Largest decline over 3 years	-21.75%	-29.32%	+7.57%
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	-30.07%	+8.32%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.07%	—
Current Drawdown Current decline from peak	-3.35%	-1.80%	-1.55%
Average Drawdown Average peak-to-trough decline	-5.07%	-9.18%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.36%	-0.24%

Volatility

AUAD.L vs. ITWN.L - Volatility Comparison

The current volatility for UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis (AUAD.L) is 4.54%, while iShares MSCI Taiwan UCITS ETF (ITWN.L) has a volatility of 9.68%. This indicates that AUAD.L experiences smaller price fluctuations and is considered to be less risky than ITWN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUAD.L	ITWN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	9.68%	-5.14%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	18.60%	-8.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.01%	22.88%	-9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	20.77%	-3.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	20.55%	-2.22%

AUAD.L vs. ITWN.L - Expense Ratio Comparison

AUAD.L has a 0.40% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

AUAD.L vs. ITWN.L - Dividend Comparison

AUAD.L's dividend yield for the trailing twelve months is around 2.91%, more than ITWN.L's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUAD.L UBS ETF (IE) MSCI Australia UCITS ETF (AUD) A-dis	2.91%	3.22%	3.57%	4.16%	3.95%	2.50%	3.10%	0.00%	0.00%	0.00%	0.00%	0.00%
ITWN.L iShares MSCI Taiwan UCITS ETF	0.89%	1.50%	1.37%	2.14%	3.54%	1.33%	1.83%	2.28%	2.72%	2.74%	2.86%	3.23%

Frequently Asked Questions

Can I hold both AUAD.L and ITWN.L in my portfolio?

AUAD.L and ITWN.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AUAD.L or ITWN.L?

On fees, AUAD.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AUAD.L or ITWN.L?

AUAD.L is cheaper with a 0.40% expense ratio, compared with 0.74% for ITWN.L.

What is the main difference between AUAD.L and ITWN.L?

AUAD.L tracks MSCI Australia NR USD, while ITWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: UBS and iShares. Their fees differ too: 0.40% for AUAD.L and 0.74% for ITWN.L.