ITWN.L vs. V3PB.L

Last updated Jun 5, 2026

ITWN.L (iShares MSCI Taiwan UCITS ETF) and V3PB.L (Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating) are both Asia Pacific Equities funds - ITWN.L tracks the MSCI Taiwan NR USD while V3PB.L tracks the FTSE Developed Asia Pacific All Cap Choice Index. Both are passively managed. Over the past 3 years, ITWN.L returned 40.47%/yr vs 19.25%/yr for V3PB.L. A 0.59 correlation means they provide meaningful diversification when combined. ITWN.L charges 0.74%/yr vs 0.17%/yr for V3PB.L.

Performance

ITWN.L vs. V3PB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Taiwan UCITS ETF (ITWN.L) and Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating (V3PB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ITWN.L is traded in GBp, while V3PB.L is traded in GBP. To make them comparable, the V3PB.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ITWN.L achieves a 67.93% return, which is significantly higher than V3PB.L's 30.39% return.

ITWN.L

• 1D: -1.63%
• 1M: 14.84%
• YTD: 67.93%
• 6M: 73.48%
• 1Y: 117.37%
• 3Y*: 40.47%
• 5Y*: 22.94%
• 10Y*: 23.12%

V3PB.L

• 1D: -2.23%
• 1M: 10.60%
• YTD: 30.39%
• 6M: 32.51%
• 1Y: 54.32%
• 3Y*: 19.25%
• 5Y*: —
• 10Y*: —

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

ITWN.L vs. V3PB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ITWN.L iShares MSCI Taiwan UCITS ETF	67.93%	22.61%	25.77%	21.84%	4.11%
V3PB.L Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating	30.39%	21.87%	3.24%	8.19%	-6.18%

Correlation

The correlation between ITWN.L and V3PB.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.59

The correlation between ITWN.L and V3PB.L has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Return for Risk

ITWN.L vs. V3PB.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: 98
ITWN.L Sortino Ratio Rank: 97
ITWN.L Omega Ratio Rank: 96
ITWN.L Calmar Ratio Rank: 97
ITWN.L Martin Ratio Rank: 96

V3PB.L

V3PB.L Risk / Return Rank: 87
V3PB.L Sharpe Ratio Rank: 90
V3PB.L Sortino Ratio Rank: 89
V3PB.L Omega Ratio Rank: 90
V3PB.L Calmar Ratio Rank: 84
V3PB.L Martin Ratio Rank: 82

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. V3PB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Taiwan UCITS ETF (ITWN.L) and Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating (V3PB.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.

	ITWN.L	V3PB.L	Difference
Sharpe ratio: Return per unit of total volatility	5.10	3.00	+2.10
Sortino ratio: Return per unit of downside risk	5.92	3.99	+1.93
Omega ratio: Gain probability vs. loss probability	1.81	1.56	+0.25
Calmar ratio: Return relative to maximum drawdown	12.46	4.52	+7.94
Martin ratio: Return relative to average drawdown	34.79	16.28	+18.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITWN.L vs. V3PB.L - Sharpe Ratio Comparison

The current ITWN.L Sharpe Ratio is 5.10, which is higher than the V3PB.L Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of ITWN.L and V3PB.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.

Sharpe Ratios by Period

	ITWN.L	V3PB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.10	3.00	+2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.94	-0.30

Drawdowns

ITWN.L vs. V3PB.L - Drawdown Comparison

The maximum ITWN.L drawdown since its inception was -48.27%, which is greater than V3PB.L's maximum drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for ITWN.L and V3PB.L.

Drawdown Indicators

	ITWN.L	V3PB.L	Difference
Max Drawdown Largest peak-to-trough decline	-48.27%	-15.03%	-33.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-11.95%	+2.59%
Max Drawdown (3Y) Largest decline over 3 years	-29.32%	-15.03%	-14.29%
Max Drawdown (5Y) Largest decline over 5 years	-30.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	—	—
Current Drawdown Current decline from peak	-1.80%	-2.23%	+0.43%
Average Drawdown Average peak-to-trough decline	-9.18%	-3.40%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	3.33%	+0.03%

Volatility

ITWN.L vs. V3PB.L - Volatility Comparison

iShares MSCI Taiwan UCITS ETF (ITWN.L) has a higher volatility of 9.68% compared to Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating (V3PB.L) at 7.65%. This indicates that ITWN.L's price experiences larger fluctuations and is considered to be riskier than V3PB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWN.L	V3PB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	7.65%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	18.60%	15.68%	+2.92%
Volatility (1Y) Calculated over the trailing 1-year period	22.88%	18.00%	+4.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	15.95%	+4.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	15.95%	+4.60%

ITWN.L vs. V3PB.L - Expense Ratio Comparison

ITWN.L has a 0.74% expense ratio, which is higher than V3PB.L's 0.17% expense ratio.

Dividends

ITWN.L vs. V3PB.L - Dividend Comparison

ITWN.L's dividend yield for the trailing twelve months is around 0.89%, while V3PB.L has not paid dividends to shareholders.

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%	2.28%	2.72%	2.74%	2.86%	3.23%
V3PB.L Vanguard ESG Developed Asia Pacific All Cap UCITS ETF USD Accumulating	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 ITWN.L and V3PB.L in my portfolio?

ITWN.L and V3PB.L have a correlation of 0.64, 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 V3PB.L?

On fees, V3PB.L is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ITWN.L or V3PB.L?

V3PB.L is cheaper with a 0.17% expense ratio, compared with 0.74% for ITWN.L.

What is the main difference between ITWN.L and V3PB.L?

ITWN.L tracks MSCI Taiwan NR USD, while V3PB.L tracks FTSE Developed Asia Pacific All Cap Choice Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.74% for ITWN.L and 0.17% for V3PB.L.