ISAC.L vs. VPAC.L
ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - ISAC.L tracks the MSCI All Country World Index (Net) while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, ISAC.L returned 11.12%/yr vs 3.51%/yr for VPAC.L. A 0.55 correlation means they provide meaningful diversification when combined. ISAC.L charges 0.20%/yr vs 0.50%/yr for VPAC.L.
Performance
ISAC.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISAC.L achieves a 11.18% return, which is significantly higher than VPAC.L's 2.04% return.
ISAC.L
- 1D
- 0.12%
- 1M
- -0.60%
- 6M
- 9.67%
- YTD
- 11.18%
- 1Y
- 23.73%
- 3Y*
- 19.02%
- 5Y*
- 11.12%
- 10Y*
- 12.44%
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
ISAC.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 11.18% | 22.36% | 17.81% | 22.57% | -18.16% | 18.85% | 15.66% | 25.75% | -3.79% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 17.14% | -1.27% |
Correlation
The correlation between ISAC.L and VPAC.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.55 |
The correlation between ISAC.L and VPAC.L has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.
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Return for Risk
ISAC.L vs. VPAC.L — Risk / Return Rank
ISAC.L
VPAC.L
ISAC.L vs. VPAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.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.
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.
| ISAC.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.54 | +0.15 |
| Martin ratioReturn relative to average drawdown | 10.76 | 9.98 | +0.77 |
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Drawdowns
ISAC.L vs. VPAC.L - Drawdown Comparison
The maximum ISAC.L drawdown since its inception was -33.82%, roughly equal to the maximum VPAC.L drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for ISAC.L and VPAC.L.
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Drawdown Indicators
| ISAC.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.82% | -34.25% | +0.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.77% | -2.02% | -6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -3.40% | -13.16% |
Max Drawdown (5Y)Largest decline over 5 years | -26.07% | -13.89% | -12.18% |
Max Drawdown (10Y)Largest decline over 10 years | -33.82% | — | — |
Current DrawdownCurrent decline from peak | -1.03% | -0.33% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -3.14% | -1.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 0.52% | +1.68% |
Volatility
ISAC.L vs. VPAC.L - Volatility Comparison
iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) has a higher volatility of 3.18% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that ISAC.L's price experiences larger fluctuations and is considered to be riskier than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISAC.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 0.74% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 2.28% | +8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 3.17% | +9.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.65% | 5.30% | +10.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.82% | 11.00% | +4.82% |
ISAC.L vs. VPAC.L - Expense Ratio Comparison
ISAC.L has a 0.20% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.
Dividends
ISAC.L vs. VPAC.L - Dividend Comparison
Neither ISAC.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
ISAC.L and VPAC.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.50% for VPAC.L.
ISAC.L tracks MSCI All Country World Index (Net), while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for ISAC.L and 0.50% for VPAC.L.
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