IMAE.AS vs. IAPD.AS

Last updated Jun 26, 2026

IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and IAPD.AS (iShares Asia Pacific Dividend UCITS ETF) are both exchange-traded funds - IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while IAPD.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD. Both are passively managed. Over the past 10 years, IMAE.AS returned 10.45%/yr vs 5.50%/yr for IAPD.AS. A 0.64 correlation means they provide meaningful diversification when combined. IMAE.AS charges 0.20%/yr vs 0.59%/yr for IAPD.AS.

Performance

IMAE.AS vs. IAPD.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMAE.AS achieves a 9.68% return, which is significantly higher than IAPD.AS's 2.70% return. Over the past 10 years, IMAE.AS has outperformed IAPD.AS with an annualized return of 10.45%, while IAPD.AS has yielded a comparatively lower 5.50% annualized return.

IMAE.AS

• 1D: 0.00%
• 1M: 1.63%
• YTD: 9.68%
• 6M: 10.15%
• 1Y: 21.55%
• 3Y*: 15.00%
• 5Y*: 10.10%
• 10Y*: 10.45%

IAPD.AS

• 1D: 0.00%
• 1M: 2.66%
• YTD: 2.70%
• 6M: 2.70%
• 1Y: 20.28%
• 3Y*: 13.71%
• 5Y*: 8.30%
• 10Y*: 5.50%

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

IMAE.AS vs. IAPD.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc)	9.68%	19.74%	8.89%	15.99%	-9.31%	25.66%	-3.06%	25.45%	-9.65%	10.15%
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	2.70%	13.43%	13.03%	9.11%	4.12%	12.14%	-17.28%	16.04%	-10.54%	2.53%

Correlation

The correlation between IMAE.AS and IAPD.AS is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 13, 2009	0.64

Over the past year, the correlation between IMAE.AS and IAPD.AS has dropped to 0.23 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

IMAE.AS vs. IAPD.AS — Risk / Return Rank

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

IMAE.AS

IMAE.AS Risk / Return Rank: 56
IMAE.AS Sharpe Ratio Rank: 57
IMAE.AS Sortino Ratio Rank: 58
IMAE.AS Omega Ratio Rank: 59
IMAE.AS Calmar Ratio Rank: 52
IMAE.AS Martin Ratio Rank: 56

IAPD.AS

IAPD.AS Risk / Return Rank: 97
IAPD.AS Sharpe Ratio Rank: 95
IAPD.AS Sortino Ratio Rank: 97
IAPD.AS Omega Ratio Rank: 98
IAPD.AS Calmar Ratio Rank: 95
IAPD.AS Martin Ratio Rank: 97

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.

IMAE.AS vs. IAPD.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). 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.

	IMAE.AS	IAPD.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.67	3.27	-1.61
Sortino ratio: Return per unit of downside risk	2.41	6.08	-3.67
Omega ratio: Gain probability vs. loss probability	1.32	2.36	-1.05
Calmar ratio: Return relative to maximum drawdown	2.24	6.84	-4.59
Martin ratio: Return relative to average drawdown	8.54	39.82	-31.29

IMAE.AS vs. IAPD.AS - Sharpe Ratio Comparison

The current IMAE.AS Sharpe Ratio is 1.67, which is lower than the IAPD.AS Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of IMAE.AS and IAPD.AS, 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

IMAE.AS vs. IAPD.AS - Drawdown Comparison

The maximum IMAE.AS drawdown since its inception was -35.60%, smaller than the maximum IAPD.AS drawdown of -75.90%. Use the drawdown chart below to compare losses from any high point for IMAE.AS and IAPD.AS.

Drawdown Indicators

	IMAE.AS	IAPD.AS	Difference
Max Drawdown Largest peak-to-trough decline	-35.60%	-75.90%	+40.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.47%	-3.12%	-6.35%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-20.06%	+3.55%
Max Drawdown (5Y) Largest decline over 5 years	-19.44%	-20.06%	+0.62%
Max Drawdown (10Y) Largest decline over 10 years	-35.60%	-42.65%	+7.05%
Current Drawdown Current decline from peak	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-5.35%	-25.02%	+19.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	0.54%	+1.97%

Volatility

IMAE.AS vs. IAPD.AS - Volatility Comparison

iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) has a higher volatility of 2.77% compared to iShares Asia Pacific Dividend UCITS ETF (IAPD.AS) at 2.62%. This indicates that IMAE.AS's price experiences larger fluctuations and is considered to be riskier than IAPD.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMAE.AS	IAPD.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	2.62%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	2.62%	+8.14%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	6.61%	+6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	12.10%	+2.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.28%	15.37%	-0.09%

IMAE.AS vs. IAPD.AS - Expense Ratio Comparison

IMAE.AS has a 0.20% expense ratio, which is lower than IAPD.AS's 0.59% expense ratio.

Dividends

IMAE.AS vs. IAPD.AS - Dividend Comparison

IMAE.AS has not paid dividends to shareholders, while IAPD.AS's dividend yield for the trailing twelve months is around 4.75%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	4.75%	4.31%	5.20%	5.83%	7.01%	5.42%	3.68%	5.52%	5.93%	4.78%	4.40%	5.39%
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (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

Can I hold both IMAE.AS and IAPD.AS in my portfolio?

IMAE.AS and IAPD.AS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMAE.AS or IAPD.AS?

On fees, IMAE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMAE.AS or IAPD.AS?

IMAE.AS is cheaper with a 0.20% expense ratio, compared with 0.59% for IAPD.AS.

What is the main difference between IMAE.AS and IAPD.AS?

IMAE.AS is categorized as Europe Equities, while IAPD.AS is Asia Pacific Equities. IMAE.AS tracks MSCI Europe NR EUR, while IAPD.AS tracks MSCI AC Asia Pacific NR USD. Their fees differ too: 0.20% for IMAE.AS and 0.59% for IAPD.AS.