ITWN.L vs. UB20.L

Last updated Jun 25, 2026

ITWN.L (iShares MSCI Taiwan UCITS ETF) and UB20.L (UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis) are both Asia Pacific Equities funds - ITWN.L tracks the MSCI Taiwan NR USD while UB20.L tracks the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 10 years, ITWN.L returned 22.53%/yr vs 8.18%/yr for UB20.L. A 0.64 correlation means they provide meaningful diversification when combined. ITWN.L charges 0.74%/yr vs 0.30%/yr for UB20.L.

Performance

ITWN.L vs. UB20.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Taiwan UCITS ETF (ITWN.L) and UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITWN.L achieves a 69.22% return, which is significantly higher than UB20.L's 9.02% return. Over the past 10 years, ITWN.L has outperformed UB20.L with an annualized return of 22.53%, while UB20.L has yielded a comparatively lower 8.18% annualized return.

ITWN.L

• 1D: -1.19%
• 1M: 9.11%
• YTD: 69.22%
• 6M: 73.41%
• 1Y: 108.23%
• 3Y*: 41.73%
• 5Y*: 22.75%
• 10Y*: 22.53%

UB20.L

• 1D: 0.00%
• 1M: 0.15%
• YTD: 9.02%
• 6M: 8.55%
• 1Y: 16.87%
• 3Y*: 11.65%
• 5Y*: 6.01%
• 10Y*: 8.18%

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

ITWN.L vs. UB20.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITWN.L iShares MSCI Taiwan UCITS ETF	69.22%	22.61%	25.77%	21.84%	-21.08%	29.84%	30.38%	29.88%	-3.90%	16.56%
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	9.02%	12.00%	6.98%	-0.10%	5.26%	5.29%	3.52%	14.10%	-5.54%	14.53%

Correlation

The correlation between ITWN.L and UB20.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Jun 28, 2012	0.64

The correlation between ITWN.L and UB20.L shifts across timeframes, from 0.46 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

ITWN.L vs. UB20.L - Sectors Allocation Comparison

Sectors	ITWN.L	UB20.L
Technology	82.6%	1.0%
Financial Services	10.4%	45.1%
Basic Materials	1.8%	16.3%
Industrials	1.8%	8.5%
Communication Services	1.3%	2.6%
Consumer Cyclical	0.9%	6.3%
Consumer Defensive	0.7%	3.0%
Healthcare	0.5%	3.3%
Energy	-	2.7%
Real Estate	-	7.8%
Utilities	-	3.5%

Return for Risk

ITWN.L vs. UB20.L — Risk / Return Rank

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

ITWN.L

ITWN.L Risk / Return Rank: 97
ITWN.L Sharpe Ratio Rank: 97
ITWN.L Sortino Ratio Rank: 96
ITWN.L Omega Ratio Rank: 96
ITWN.L Calmar Ratio Rank: 98
ITWN.L Martin Ratio Rank: 96

UB20.L

UB20.L Risk / Return Rank: 50
UB20.L Sharpe Ratio Rank: 49
UB20.L Sortino Ratio Rank: 52
UB20.L Omega Ratio Rank: 48
UB20.L Calmar Ratio Rank: 53
UB20.L Martin Ratio Rank: 45

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.

ITWN.L vs. UB20.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF (ITWN.L) and UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.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.

	ITWN.L	UB20.L	Difference
Sharpe ratio: Return per unit of total volatility	4.41	1.50	+2.91
Sortino ratio: Return per unit of downside risk	5.07	2.22	+2.85
Omega ratio: Gain probability vs. loss probability	1.70	1.27	+0.43
Calmar ratio: Return relative to maximum drawdown	11.49	2.29	+9.20
Martin ratio: Return relative to average drawdown	30.65	6.64	+24.01

ITWN.L vs. UB20.L - Sharpe Ratio Comparison

The current ITWN.L Sharpe Ratio is 4.41, which is higher than the UB20.L Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of ITWN.L and UB20.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.

Drawdowns

ITWN.L vs. UB20.L - Drawdown Comparison

The maximum ITWN.L drawdown since its inception was -72.46%, which is greater than UB20.L's maximum drawdown of -32.34%. Use the drawdown chart below to compare losses from any high point for ITWN.L and UB20.L.

Drawdown Indicators

	ITWN.L	UB20.L	Difference
Max Drawdown Largest peak-to-trough decline	-72.46%	-32.34%	-40.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-7.32%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-29.32%	-17.80%	-11.52%
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	-17.80%	-12.27%
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	-32.34%	+2.27%
Current Drawdown Current decline from peak	-5.95%	-2.91%	-3.04%
Average Drawdown Average peak-to-trough decline	-21.94%	-6.50%	-15.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	2.54%	+0.98%

Volatility

ITWN.L vs. UB20.L - Volatility Comparison

iShares MSCI Taiwan UCITS ETF (ITWN.L) has a higher volatility of 10.60% compared to UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) at 3.80%. This indicates that ITWN.L's price experiences larger fluctuations and is considered to be riskier than UB20.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWN.L	UB20.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.60%	3.80%	+6.80%
Volatility (6M) Calculated over the trailing 6-month period	20.41%	8.91%	+11.50%
Volatility (1Y) Calculated over the trailing 1-year period	24.48%	11.22%	+13.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	14.00%	+7.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.46%	15.76%	+4.70%

ITWN.L vs. UB20.L - Expense Ratio Comparison

ITWN.L has a 0.74% expense ratio, which is higher than UB20.L's 0.30% expense ratio.

Dividends

ITWN.L vs. UB20.L - Dividend Comparison

ITWN.L's dividend yield for the trailing twelve months is around 0.89%, less than UB20.L's 2.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITWN.L iShares MSCI Taiwan UCITS ETF	0.89%	1.50%	1.37%	2.14%	3.54%	1.33%	1.83%	2.30%	2.72%	2.74%	2.86%	3.21%
UB20.L UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis	2.92%	3.86%	3.26%	3.96%	3.66%	2.60%	3.05%	4.08%	4.33%	3.43%	4.00%	5.19%

Frequently Asked Questions

Can I hold both ITWN.L and UB20.L in my portfolio?

ITWN.L and UB20.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ITWN.L or UB20.L?

On fees, UB20.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ITWN.L or UB20.L?

UB20.L is cheaper with a 0.30% expense ratio, compared with 0.74% for ITWN.L.

What is the main difference between ITWN.L and UB20.L?

ITWN.L tracks MSCI Taiwan NR USD, while UB20.L tracks MSCI Pacific Ex Japan NR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.74% for ITWN.L and 0.30% for UB20.L.