IAUS.L vs. ESPS.L

Last updated Jul 22, 2026

IAUS.L (iShares MSCI Australia UCITS ETF USD (Acc)) and ESPS.L (Invesco MSCI Pacific Ex Japan ESG Universal Screened UCITS ETF Acc) are both Asia Pacific Equities funds - IAUS.L tracks the MSCI Australia Index (Net) while ESPS.L tracks the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 5 years, IAUS.L returned 6.54%/yr vs 5.72%/yr for ESPS.L. Their correlation of 0.89 suggests significant overlap in exposure. IAUS.L charges 0.50%/yr vs 0.19%/yr for ESPS.L.

Performance

IAUS.L vs. ESPS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Australia UCITS ETF USD (Acc) (IAUS.L) and Invesco MSCI Pacific Ex Japan ESG Universal Screened UCITS ETF Acc (ESPS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IAUS.L is traded in USD, while ESPS.L is traded in GBp. To make them comparable, the ESPS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IAUS.L achieves a 10.07% return, which is significantly higher than ESPS.L's 8.83% return.

IAUS.L

• 1D: 0.00%
• 1M: 0.74%
• 6M: 9.27%
• YTD: 10.07%
• 1Y: 11.31%
• 3Y*: 11.10%
• 5Y*: 6.54%
• 10Y*: 7.93%
• ALL TIME*: 5.87%

ESPS.L

• 1D: 0.06%
• 1M: 2.80%
• 6M: 7.19%
• YTD: 8.83%
• 1Y: 11.85%
• 3Y*: 11.90%
• 5Y*: 5.72%
• 10Y*: —
• ALL TIME*: 130.40%

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

IAUS.L vs. ESPS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IAUS.L iShares MSCI Australia UCITS ETF USD (Acc)	10.07%	13.86%	1.70%	13.84%	-5.50%	5.38%
ESPS.L Invesco MSCI Pacific Ex Japan ESG Universal Screened UCITS ETF Acc	8.83%	19.26%	5.86%	5.23%	-7.41%	7,434.03%

Correlation

The correlation between IAUS.L and ESPS.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 8, 2021	0.89

The correlation between IAUS.L and ESPS.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

IAUS.L vs. ESPS.L - Sectors Allocation Comparison

Sectors	IAUS.L	ESPS.L
Financial Services	41.7%	52.2%
Basic Materials	24.5%	11.2%
Consumer Cyclical	7.3%	7.6%
Real Estate	5.0%	7.0%
Healthcare	4.9%	3.1%
Industrials	4.4%	7.3%
Consumer Defensive	4.0%	2.1%
Energy	3.8%	2.9%
Communication Services	1.8%	3.4%
Utilities	1.6%	2.0%
Technology	0.9%	1.2%

Return for Risk

IAUS.L vs. ESPS.L — Risk / Return Rank

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

IAUS.L

IAUS.L Risk / Return Rank: 28
IAUS.L Sharpe Ratio Rank: 27
IAUS.L Sortino Ratio Rank: 28
IAUS.L Omega Ratio Rank: 26
IAUS.L Calmar Ratio Rank: 31
IAUS.L Martin Ratio Rank: 29

ESPS.L

ESPS.L Risk / Return Rank: 39
ESPS.L Sharpe Ratio Rank: 40
ESPS.L Sortino Ratio Rank: 40
ESPS.L Omega Ratio Rank: 39
ESPS.L Calmar Ratio Rank: 41
ESPS.L Martin Ratio Rank: 36

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.

IAUS.L vs. ESPS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Australia UCITS ETF USD (Acc) (IAUS.L) and Invesco MSCI Pacific Ex Japan ESG Universal Screened UCITS ETF Acc (ESPS.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IAUS.L	ESPS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.92	-0.21
Sortino ratio: Return per unit of downside risk	1.16	1.44	-0.27
Omega ratio: Gain probability vs. loss probability	1.13	1.17	-0.03
Calmar ratio: Return relative to maximum drawdown	1.16	1.35	-0.19
Martin ratio: Return relative to average drawdown	2.84	3.62	-0.79

IAUS.L vs. ESPS.L - Sharpe Ratio Comparison

The current IAUS.L Sharpe Ratio is 0.71, which is comparable to the ESPS.L Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of IAUS.L and ESPS.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.

Drawdowns

IAUS.L vs. ESPS.L - Drawdown Comparison

The maximum IAUS.L drawdown since its inception was -44.76%, which is greater than ESPS.L's maximum drawdown of -25.07%. Use the drawdown chart below to compare losses from any high point for IAUS.L and ESPS.L.

Drawdown Indicators

	IAUS.L	ESPS.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.76%	-25.07%	-19.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-9.09%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.04%	-19.21%	-3.83%
Max Drawdown (5Y) Largest decline over 5 years	-24.60%	-24.34%	-0.26%
Max Drawdown (10Y) Largest decline over 10 years	-44.76%	—	—
Current Drawdown Current decline from peak	-4.38%	-2.18%	-2.20%
Average Drawdown Average peak-to-trough decline	-9.26%	-6.81%	-2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	3.40%	+0.58%

Volatility

IAUS.L vs. ESPS.L - Volatility Comparison

iShares MSCI Australia UCITS ETF USD (Acc) (IAUS.L) has a higher volatility of 3.52% compared to Invesco MSCI Pacific Ex Japan ESG Universal Screened UCITS ETF Acc (ESPS.L) at 2.91%. This indicates that IAUS.L's price experiences larger fluctuations and is considered to be riskier than ESPS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IAUS.L	ESPS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	2.91%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	13.34%	10.91%	+2.43%
Volatility (1Y) Calculated over the trailing 1-year period	15.89%	13.40%	+2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.49%	16.64%	+2.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	3,122.51%	-3,101.77%

IAUS.L vs. ESPS.L - Expense Ratio Comparison

IAUS.L has a 0.50% expense ratio, which is higher than ESPS.L's 0.19% expense ratio.

Dividends

IAUS.L vs. ESPS.L - Dividend Comparison

Neither IAUS.L nor ESPS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IAUS.L and ESPS.L in my portfolio?

IAUS.L and ESPS.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IAUS.L or ESPS.L?

On fees, ESPS.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IAUS.L or ESPS.L?

ESPS.L is cheaper with a 0.19% expense ratio, compared with 0.50% for IAUS.L.

What is the main difference between IAUS.L and ESPS.L?

IAUS.L tracks MSCI Australia Index (Net), while ESPS.L tracks MSCI Pacific Ex Japan NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for IAUS.L and 0.19% for ESPS.L.