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IPAC vs. VPL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IPAC vs. VPL

Last updated Jun 23, 2026

IPAC (iShares Core MSCI Pacific ETF) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds - IPAC tracks the MSCI Pacific Investable Market Index while VPL tracks the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, IPAC returned 9.63%/yr vs 11.43%/yr for VPL. With a 0.97 correlation, they move nearly in lockstep. IPAC charges 0.09%/yr vs 0.08%/yr for VPL.

Performance

IPAC vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Pacific ETF (IPAC) and Vanguard FTSE Pacific ETF (VPL). 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 16.23% return, which is significantly lower than VPL's 33.55% return. Over the past 10 years, IPAC has underperformed VPL with an annualized return of 9.63%, while VPL has yielded a comparatively higher 11.43% annualized return.

IPAC

1D
0.37%
1M
3.91%
YTD
16.23%
6M
16.46%
1Y
33.01%
3Y*
18.33%
5Y*
8.61%
10Y*
9.63%

VPL

1D
0.32%
1M
7.88%
YTD
33.55%
6M
35.00%
1Y
58.07%
3Y*
24.51%
5Y*
11.40%
10Y*
11.43%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IPAC vs. VPL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IPAC
iShares Core MSCI Pacific ETF		16.23%25.16%6.18%14.51%-13.68%3.09%12.39%19.44%-12.78%25.97%
VPL
Vanguard FTSE Pacific ETF		33.55%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%28.85%

Correlation

The correlation between IPAC and VPL is 0.93, 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

0.93

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

0.96

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

0.97

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

0.97

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

0.97

The correlation between IPAC and VPL has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

IPAC vs. VPL - Sectors Allocation Comparison

Sectors
IPAC
VPL

Financial Services

22.7%
19.3%

Industrials

19.2%
20.5%

Technology

17.0%
22.6%

Consumer Cyclical

9.8%
9.6%

Basic Materials

8.7%
7.3%

Healthcare

5.0%
5.0%

Communication Services

4.7%
4.8%

Real Estate

4.5%
4.3%

Consumer Defensive

3.5%
3.5%

Energy

1.6%
1.6%

Utilities

1.5%
1.6%

Financial Services

IPAC
22.7%
VPL
19.3%

Industrials

IPAC
19.2%
VPL
20.5%

Technology

IPAC
17.0%
VPL
22.6%

Consumer Cyclical

IPAC
9.8%
VPL
9.6%

Basic Materials

IPAC
8.7%
VPL
7.3%

Healthcare

IPAC
5.0%
VPL
5.0%

Communication Services

IPAC
4.7%
VPL
4.8%

Real Estate

IPAC
4.5%
VPL
4.3%

Consumer Defensive

IPAC
3.5%
VPL
3.5%

Energy

IPAC
1.6%
VPL
1.6%

Utilities

IPAC
1.5%
VPL
1.6%

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

Vanguard FTSE Pacific ETF

Often compared with IPAC:
IPAC vs. IVALIPAC vs. FLCHIPAC vs. IEMGIPAC vs. SPYIPAC vs. VEAIPAC vs. ^GSPCIPAC vs. IDEV
Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. VXUSVPL vs. VGKVPL vs. VEUVPL vs. VOO

Return for Risk

IPAC vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IPAC
IPAC Risk / Return Rank: 6060
Overall Rank
IPAC Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IPAC Sortino Ratio Rank: 5959
Sortino Ratio Rank
IPAC Omega Ratio Rank: 6262
Omega Ratio Rank
IPAC Calmar Ratio Rank: 6060
Calmar Ratio Rank
IPAC Martin Ratio Rank: 6060
Martin Ratio Rank
VPL
VPL Risk / Return Rank: 8484
Overall Rank
VPL Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 8181
Sortino Ratio Rank
VPL Omega Ratio Rank: 8585
Omega Ratio Rank
VPL Calmar Ratio Rank: 8484
Calmar Ratio Rank
VPL Martin Ratio Rank: 8484
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. VPL - Risk-Adjusted Trends Comparison

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

IPACVPLDifference
Sharpe ratioReturn per unit of total volatility
1.96
2.73

-0.77

Sortino ratioReturn per unit of downside risk
2.72
3.46

-0.74

Omega ratioGain probability vs. loss probability

1.36

1.50

-0.13

Calmar ratioReturn relative to maximum drawdown

2.89

4.38

-1.49

Martin ratioReturn relative to average drawdown

10.30

16.73

-6.43

IPAC vs. VPL - Sharpe Ratio Comparison

The current IPAC Sharpe Ratio is 1.96, which is comparable to the VPL Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of IPAC and VPL, 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. VPL - Drawdown Comparison

The maximum IPAC drawdown since its inception was -30.99%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for IPAC and VPL.

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Drawdown Indicators

IPACVPLDifference

Max Drawdown

Largest peak-to-trough decline

-30.99%

-55.49%

+24.50%

Max Drawdown (1Y)

Largest decline over 1 year

-11.49%

-13.33%

+1.84%

Max Drawdown (3Y)

Largest decline over 3 years

-15.45%

-16.35%

+0.90%

Max Drawdown (5Y)

Largest decline over 5 years

-29.64%

-31.09%

+1.45%

Max Drawdown (10Y)

Largest decline over 10 years

-30.99%

-33.90%

+2.91%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.46%

-11.61%

+4.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.21%

3.48%

-0.27%

Volatility

IPAC vs. VPL - Volatility Comparison

The current volatility for iShares Core MSCI Pacific ETF (IPAC) is 5.39%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 10.07%. This indicates that IPAC experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IPACVPLDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.39%

10.07%

-4.68%

Volatility (6M)

Calculated over the trailing 6-month period

13.89%

18.94%

-5.05%

Volatility (1Y)

Calculated over the trailing 1-year period

16.99%

21.45%

-4.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.74%

17.74%

-1.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.61%

17.49%

-0.88%

IPAC vs. VPL - Expense Ratio Comparison

IPAC has a 0.09% expense ratio, which is higher than VPL's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IPAC vs. VPL - Dividend Comparison

IPAC's dividend yield for the trailing twelve months is around 3.80%, more than VPL's 2.51% yield.

PositionTTM20252024202320222021202020192018201720162015
IPAC
iShares Core MSCI Pacific ETF		3.80%4.32%3.43%3.16%2.76%4.03%1.68%3.37%2.95%2.98%2.66%2.60%
VPL
Vanguard FTSE Pacific ETF		2.51%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

With a correlation of 0.93, IPAC and VPL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

VPL has higher volatility (10.07%) compared to IPAC (5.39%). In terms of maximum drawdown, IPAC dropped -30.99% vs VPL's -55.49%.

On 10-year performance, VPL leads with 11.43% vs 9.63% for IPAC. On fees, VPL is cheaper at 0.08% per year. On volatility, IPAC has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VPL has performed better with a 11.43% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.09% for IPAC.

IPAC has the higher dividend yield at 3.80%, compared with 2.51% for VPL.

IPAC tracks MSCI Pacific Investable Market Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for IPAC and 0.08% for VPL.

VPL currently has the higher Sharpe Ratio (2.73 vs 1.96), 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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