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IIND.L vs. IAPD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IIND.L vs. IAPD.L

Last updated Jun 5, 2026

IIND.L (iShares MSCI India UCITS ETF USD (Acc)) and IAPD.L (iShares Asia Pacific Dividend UCITS) are both Asia Pacific Equities funds from iShares - IIND.L tracks the MSCI India NR USD while IAPD.L tracks the MSCI AC Asia Pacific NR USD. Both are passively managed. Over the past 5 years, IIND.L returned 4.52%/yr vs 12.72%/yr for IAPD.L. At a 0.41 correlation, their price movements are largely independent. IIND.L charges 0.65%/yr vs 0.59%/yr for IAPD.L.

Performance

IIND.L vs. IAPD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI India UCITS ETF USD (Acc) (IIND.L) and iShares Asia Pacific Dividend UCITS (IAPD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IIND.L is traded in GBP, while IAPD.L is traded in GBp. To make them comparable, the IAPD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, IIND.L achieves a -13.04% return, which is significantly lower than IAPD.L's 13.20% return.

IIND.L

1D
1.17%
1M
-1.77%
YTD
-13.04%
6M
-13.23%
1Y
-11.37%
3Y*
2.69%
5Y*
4.52%
10Y*
—

IAPD.L

1D
0.04%
1M
0.77%
YTD
13.20%
6M
13.76%
1Y
41.98%
3Y*
20.42%
5Y*
12.72%
10Y*
9.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IIND.L vs. IAPD.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
IIND.L
iShares MSCI India UCITS ETF USD (Acc)		-13.04%-2.93%11.04%12.49%2.72%26.95%10.48%3.72%3.78%
IAPD.L
iShares Asia Pacific Dividend UCITS		13.20%22.91%9.51%8.99%11.40%6.82%-11.63%11.98%-3.40%

Correlation

The correlation between IIND.L and IAPD.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.33

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (All Time)
Calculated using the full available price history since May 30, 2018

0.41

IIND.L vs. IAPD.L - Sectors Allocation Comparison

Sectors
IIND.L
IAPD.L

Financial Services

28.3%
30.9%

Consumer Cyclical

12.5%
10.9%

Industrials

10.3%
7.1%

Energy

9.5%
5.1%

Technology

8.3%
1.6%

Basic Materials

8.0%
16.1%

Consumer Defensive

6.2%
5.2%

Healthcare

6.2%
3.5%

Communication Services

4.7%
4.7%

Utilities

4.6%
4.5%

Real Estate

1.4%
10.6%

Financial Services

IIND.L
28.3%
IAPD.L
30.9%

Consumer Cyclical

IIND.L
12.5%
IAPD.L
10.9%

Industrials

IIND.L
10.3%
IAPD.L
7.1%

Energy

IIND.L
9.5%
IAPD.L
5.1%

Technology

IIND.L
8.3%
IAPD.L
1.6%

Basic Materials

IIND.L
8.0%
IAPD.L
16.1%

Consumer Defensive

IIND.L
6.2%
IAPD.L
5.2%

Healthcare

IIND.L
6.2%
IAPD.L
3.5%

Communication Services

IIND.L
4.7%
IAPD.L
4.7%

Utilities

IIND.L
4.6%
IAPD.L
4.5%

Real Estate

IIND.L
1.4%
IAPD.L
10.6%

Compare stocks, funds, or ETFs

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iShares MSCI India UCITS ETF USD (Acc)

iShares Asia Pacific Dividend UCITS

Often compared with IIND.L:
IIND.L vs. FRIN.LIIND.L vs. INDAIIND.L vs. QDV5.DEIIND.L vs. FLINIIND.L vs. IS3N.DEIIND.L vs. 2B77.DEIIND.L vs. SPY
Often compared with IAPD.L:
IAPD.L vs. 100D.LIAPD.L vs. JEPQIAPD.L vs. NOBLIAPD.L vs. CNDX.LIAPD.L vs. IJRIAPD.L vs. VAPX.LIAPD.L vs. VOO

Return for Risk

IIND.L vs. IAPD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IIND.L
IIND.L Risk / Return Rank: 33
Overall Rank
IIND.L Sharpe Ratio Rank: 33
Sharpe Ratio Rank
IIND.L Sortino Ratio Rank: 33
Sortino Ratio Rank
IIND.L Omega Ratio Rank: 33
Omega Ratio Rank
IIND.L Calmar Ratio Rank: 44
Calmar Ratio Rank
IIND.L Martin Ratio Rank: 33
Martin Ratio Rank
IAPD.L
IAPD.L Risk / Return Rank: 9393
Overall Rank
IAPD.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
IAPD.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
IAPD.L Omega Ratio Rank: 9595
Omega Ratio Rank
IAPD.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
IAPD.L Martin Ratio Rank: 9090
Martin Ratio Rank
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.

IIND.L vs. IAPD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India UCITS ETF USD (Acc) (IIND.L) and iShares Asia Pacific Dividend UCITS (IAPD.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.

IIND.LIAPD.LDifference
Sharpe ratioReturn per unit of total volatility
-0.72
3.89

-4.61

Sortino ratioReturn per unit of downside risk
-0.96
5.56

-6.51

Omega ratioGain probability vs. loss probability

0.89

1.71

-0.82

Calmar ratioReturn relative to maximum drawdown

-0.57

6.04

-6.61

Martin ratioReturn relative to average drawdown

-1.28

20.30

-21.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIND.L vs. IAPD.L - Sharpe Ratio Comparison

The current IIND.L Sharpe Ratio is -0.72, which is lower than the IAPD.L Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of IIND.L and IAPD.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.

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Sharpe Ratios by Period

IIND.LIAPD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

3.89

-4.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

1.02

-0.74

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.62

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.56

-0.25

Drawdowns

IIND.L vs. IAPD.L - Drawdown Comparison

The maximum IIND.L drawdown since its inception was -36.72%, smaller than the maximum IAPD.L drawdown of -52.66%. Use the drawdown chart below to compare losses from any high point for IIND.L and IAPD.L.

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Drawdown Indicators

IIND.LIAPD.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.72%

-52.66%

+15.94%

Max Drawdown (1Y)

Largest decline over 1 year

-19.77%

-6.92%

-12.85%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

-16.88%

-7.89%

Max Drawdown (5Y)

Largest decline over 5 years

-24.77%

-16.88%

-7.89%

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.53%

—

Current Drawdown

Current decline from peak

-21.93%

-2.91%

-19.02%

Average Drawdown

Average peak-to-trough decline

-7.75%

-7.37%

-0.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.85%

2.06%

+6.79%

Volatility

IIND.L vs. IAPD.L - Volatility Comparison

iShares MSCI India UCITS ETF USD (Acc) (IIND.L) has a higher volatility of 6.07% compared to iShares Asia Pacific Dividend UCITS (IAPD.L) at 3.49%. This indicates that IIND.L's price experiences larger fluctuations and is considered to be riskier than IAPD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IIND.LIAPD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

3.49%

+2.58%

Volatility (6M)

Calculated over the trailing 6-month period

13.29%

8.32%

+4.97%

Volatility (1Y)

Calculated over the trailing 1-year period

15.71%

10.73%

+4.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

12.44%

+3.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.76%

15.46%

+5.30%

IIND.L vs. IAPD.L - Expense Ratio Comparison

IIND.L has a 0.65% expense ratio, which is higher than IAPD.L's 0.59% expense ratio.

Dividends

IIND.L vs. IAPD.L - Dividend Comparison

IIND.L has not paid dividends to shareholders, while IAPD.L's dividend yield for the trailing twelve months is around 4.89%.

PositionTTM20252024202320222021202020192018201720162015
IAPD.L
iShares Asia Pacific Dividend UCITS		4.89%5.67%6.72%7.29%8.34%7.53%4.77%7.26%7.70%6.15%5.60%8.10%
IIND.L
iShares MSCI India UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IIND.L and IAPD.L have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IAPD.L is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IAPD.L is cheaper with a 0.59% expense ratio, compared with 0.65% for IIND.L.

IIND.L tracks MSCI India NR USD, while IAPD.L tracks MSCI AC Asia Pacific NR USD. Their fees differ too: 0.65% for IIND.L and 0.59% for IAPD.L.

Portfolio Optimizer

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