IBTS.L vs. VAPX.L
IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) and VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) are both exchange-traded funds - IBTS.L is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index, while VAPX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD. Both are passively managed. Over the past 10 years, IBTS.L returned 2.52%/yr vs 12.84%/yr for VAPX.L. At a 0.07 correlation, their price movements are largely independent. IBTS.L charges 0.07%/yr vs 0.15%/yr for VAPX.L.
Performance
IBTS.L vs. VAPX.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTS.L achieves a 0.65% return, which is significantly lower than VAPX.L's 48.85% return. Over the past 10 years, IBTS.L has underperformed VAPX.L with an annualized return of 2.52%, while VAPX.L has yielded a comparatively higher 12.84% annualized return.
IBTS.L
- 1D
- 0.14%
- 1M
- 1.13%
- YTD
- 0.65%
- 6M
- 0.29%
- 1Y
- 4.47%
- 3Y*
- 1.53%
- 5Y*
- 2.95%
- 10Y*
- 2.52%
VAPX.L
- 1D
- -3.09%
- 1M
- 10.87%
- YTD
- 48.85%
- 6M
- 53.84%
- 1Y
- 83.65%
- 3Y*
- 24.61%
- 5Y*
- 12.69%
- 10Y*
- 12.84%
IBTS.L vs. VAPX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 0.65% | -1.91% | 5.79% | -1.41% | 7.61% | 0.64% | -0.34% | 0.37% | 7.21% | -8.60% |
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 48.85% | 30.80% | -3.74% | 3.63% | -1.84% | 1.30% | 14.91% | 12.74% | -9.53% | 20.31% |
Correlation
The correlation between IBTS.L and VAPX.L is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since May 23, 2013 | 0.07 |
The correlation between IBTS.L and VAPX.L shifts across timeframes, from -0.20 (5 years) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBTS.L vs. VAPX.L — Risk / Return Rank
IBTS.L
VAPX.L
IBTS.L vs. VAPX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.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.
| IBTS.L | VAPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.88 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.75 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 6.18 | -5.19 |
| Martin ratioReturn relative to average drawdown | 2.51 | 23.27 | -20.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTS.L | VAPX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.73 | 4.11 | -3.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.79 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.74 | -0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.54 | -0.18 |
Drawdowns
IBTS.L vs. VAPX.L - Drawdown Comparison
The maximum IBTS.L drawdown since its inception was -19.02%, smaller than the maximum VAPX.L drawdown of -30.88%. Use the drawdown chart below to compare losses from any high point for IBTS.L and VAPX.L.
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Drawdown Indicators
| IBTS.L | VAPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.02% | -30.88% | +11.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -13.47% | +8.96% |
Max Drawdown (3Y)Largest decline over 3 years | -8.89% | -16.88% | +7.99% |
Max Drawdown (5Y)Largest decline over 5 years | -16.28% | -18.04% | +1.76% |
Max Drawdown (10Y)Largest decline over 10 years | -19.02% | -30.88% | +11.86% |
Current DrawdownCurrent decline from peak | -7.51% | -3.50% | -4.01% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -6.47% | -1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 3.58% | -1.80% |
Volatility
IBTS.L vs. VAPX.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) is 1.67%, while Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a volatility of 10.22%. This indicates that IBTS.L experiences smaller price fluctuations and is considered to be less risky than VAPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTS.L | VAPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 10.22% | -8.55% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 17.90% | -13.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 20.27% | -14.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 16.00% | -7.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 17.39% | -8.15% |
IBTS.L vs. VAPX.L - Expense Ratio Comparison
IBTS.L has a 0.07% expense ratio, which is lower than VAPX.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTS.L vs. VAPX.L - Dividend Comparison
IBTS.L's dividend yield for the trailing twelve months is around 3.99%, more than VAPX.L's 1.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF | 3.99% | 4.22% | 4.12% | 3.08% | 0.75% | 0.61% | 1.84% | 2.39% | 1.49% | 1.01% | 0.67% | 0.49% |
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 1.54% | 2.36% | 3.20% | 3.30% | 4.12% | 2.99% | 1.81% | 3.28% | 3.55% | 3.07% | 2.71% | 3.45% |
Frequently Asked Questions
IBTS.L and VAPX.L have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTS.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTS.L is cheaper with a 0.07% expense ratio, compared with 0.15% for VAPX.L.
IBTS.L is categorized as Government Bonds, while VAPX.L is Asia Pacific Equities. IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for IBTS.L and 0.15% for VAPX.L.
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