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IPAC vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IPAC vs. ACWI

Last updated Jun 24, 2026

IPAC (iShares Core MSCI Pacific ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - IPAC is a Asia Pacific Equities fund tracking the MSCI Pacific Investable Market Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, IPAC returned 9.27%/yr vs 13.09%/yr for ACWI. Their correlation of 0.84 suggests significant overlap in exposure. IPAC charges 0.09%/yr vs 0.32%/yr for ACWI.

Performance

IPAC vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Pacific ETF (IPAC) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IPAC achieves a 12.43% return, which is significantly higher than ACWI's 9.86% return. Over the past 10 years, IPAC has underperformed ACWI with an annualized return of 9.27%, while ACWI has yielded a comparatively higher 13.09% annualized return.

IPAC

1D
-3.27%
1M
0.51%
YTD
12.43%
6M
11.54%
1Y
27.68%
3Y*
17.02%
5Y*
7.72%
10Y*
9.27%

ACWI

1D
-2.00%
1M
-0.35%
YTD
9.86%
6M
9.11%
1Y
25.60%
3Y*
20.00%
5Y*
10.74%
10Y*
13.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IPAC vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IPAC
iShares Core MSCI Pacific ETF		12.43%25.16%6.18%14.51%-13.68%3.09%12.39%19.44%-12.78%25.97%
ACWI
iShares MSCI ACWI ETF		9.86%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%

Correlation

The correlation between IPAC and ACWI is 0.81, 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

0.81

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

0.79

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

0.82

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.84

The correlation between IPAC and ACWI has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

IPAC vs. ACWI - Sectors Allocation Comparison

Sectors
IPAC
ACWI

Financial Services

22.7%
15.9%

Industrials

19.2%
10.3%

Technology

17.0%
33.0%

Consumer Cyclical

9.8%
8.6%

Basic Materials

8.7%
3.6%

Healthcare

5.0%
7.7%

Communication Services

4.7%
8.0%

Real Estate

4.5%
1.6%

Consumer Defensive

3.5%
4.7%

Energy

1.6%
3.6%

Utilities

1.5%
2.7%

Financial Services

IPAC
22.7%
ACWI
15.9%

Industrials

IPAC
19.2%
ACWI
10.3%

Technology

IPAC
17.0%
ACWI
33.0%

Consumer Cyclical

IPAC
9.8%
ACWI
8.6%

Basic Materials

IPAC
8.7%
ACWI
3.6%

Healthcare

IPAC
5.0%
ACWI
7.7%

Communication Services

IPAC
4.7%
ACWI
8.0%

Real Estate

IPAC
4.5%
ACWI
1.6%

Consumer Defensive

IPAC
3.5%
ACWI
4.7%

Energy

IPAC
1.6%
ACWI
3.6%

Utilities

IPAC
1.5%
ACWI
2.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core MSCI Pacific ETF

iShares MSCI ACWI ETF

Often compared with IPAC:
IPAC vs. VPLIPAC vs. IVALIPAC vs. FLCHIPAC vs. IEMGIPAC vs. SPYIPAC vs. VEAIPAC vs. ^GSPC
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

IPAC vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IPAC
IPAC Risk / Return Rank: 5050
Overall Rank
IPAC Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IPAC Sortino Ratio Rank: 4747
Sortino Ratio Rank
IPAC Omega Ratio Rank: 5050
Omega Ratio Rank
IPAC Calmar Ratio Rank: 5252
Calmar Ratio Rank
IPAC Martin Ratio Rank: 5252
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 5858
Overall Rank
ACWI Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 5656
Sortino Ratio Rank
ACWI Omega Ratio Rank: 5858
Omega Ratio Rank
ACWI Calmar Ratio Rank: 5555
Calmar Ratio Rank
ACWI Martin Ratio Rank: 6565
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.

IPAC vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ETF (IPAC) and iShares MSCI ACWI ETF (ACWI). 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.

IPACACWIDifference
Sharpe ratioReturn per unit of total volatility
1.61
1.89

-0.28

Sortino ratioReturn per unit of downside risk
2.26
2.60

-0.34

Omega ratioGain probability vs. loss probability

1.30

1.34

-0.04

Calmar ratioReturn relative to maximum drawdown

2.42

2.64

-0.22

Martin ratioReturn relative to average drawdown

8.62

11.51

-2.88

IPAC vs. ACWI - Sharpe Ratio Comparison

The current IPAC Sharpe Ratio is 1.61, which is comparable to the ACWI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of IPAC and ACWI, 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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Drawdowns

IPAC vs. ACWI - Drawdown Comparison

The maximum IPAC drawdown since its inception was -30.99%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for IPAC and ACWI.

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Drawdown Indicators

IPACACWIDifference

Max Drawdown

Largest peak-to-trough decline

-30.99%

-56.00%

+25.01%

Max Drawdown (1Y)

Largest decline over 1 year

-11.49%

-9.73%

-1.76%

Max Drawdown (3Y)

Largest decline over 3 years

-15.45%

-16.55%

+1.10%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-26.42%

-3.22%

Max Drawdown (10Y)

Largest decline over 10 years

-30.99%

-33.53%

+2.54%

Current Drawdown

Current decline from peak

-3.27%

-2.83%

-0.44%

Average Drawdown

Average peak-to-trough decline

-7.46%

-8.59%

+1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

2.23%

+0.99%

Volatility

IPAC vs. ACWI - Volatility Comparison

iShares Core MSCI Pacific ETF (IPAC) has a higher volatility of 6.43% compared to iShares MSCI ACWI ETF (ACWI) at 5.57%. This indicates that IPAC's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IPACACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.43%

5.57%

+0.86%

Volatility (6M)

Calculated over the trailing 6-month period

14.30%

11.38%

+2.92%

Volatility (1Y)

Calculated over the trailing 1-year period

17.29%

13.64%

+3.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.80%

16.20%

+0.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.60%

17.08%

-0.48%

IPAC vs. ACWI - Expense Ratio Comparison

IPAC has a 0.09% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

IPAC vs. ACWI - Dividend Comparison

IPAC's dividend yield for the trailing twelve months is around 3.93%, more than ACWI's 1.45% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.45%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
IPAC
iShares Core MSCI Pacific ETF		3.93%4.32%3.43%3.16%2.76%4.03%1.68%3.37%2.95%2.98%2.66%2.60%

Frequently Asked Questions

IPAC and ACWI have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IPAC has higher volatility (6.43%) compared to ACWI (5.57%). In terms of maximum drawdown, IPAC dropped -30.99% vs ACWI's -56.00%.

On 10-year performance, ACWI leads with 13.09% vs 9.27% for IPAC. On fees, IPAC is cheaper at 0.09% per year. On volatility, ACWI has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 13.09% return vs 9.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IPAC is cheaper with a 0.09% expense ratio, compared with 0.32% for ACWI.

IPAC has the higher dividend yield at 3.93%, compared with 1.45% for ACWI.

IPAC is categorized as Asia Pacific Equities, while ACWI is Global Equities. IPAC tracks MSCI Pacific Investable Market Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.09% for IPAC and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (1.89 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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