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IUSC.DE vs. VAPX.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IUSC.DE vs. VAPX.AS

Last updated Jun 5, 2026

IUSC.DE (iShares MSCI EM Latin America UCITS ETF (Dist)) and VAPX.AS (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF) are both exchange-traded funds - IUSC.DE is a Latin America Equities fund tracking the MSCI Emerging Markets Latin America 10/40, while VAPX.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD. Both are passively managed. Over the past 10 years, IUSC.DE returned 6.94%/yr vs 11.61%/yr for VAPX.AS. A 0.59 correlation means they provide meaningful diversification when combined. IUSC.DE charges 0.20%/yr vs 0.15%/yr for VAPX.AS.

Performance

IUSC.DE vs. VAPX.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI EM Latin America UCITS ETF (Dist) (IUSC.DE) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IUSC.DE achieves a 10.69% return, which is significantly lower than VAPX.AS's 50.19% return. Over the past 10 years, IUSC.DE has underperformed VAPX.AS with an annualized return of 6.94%, while VAPX.AS has yielded a comparatively higher 11.61% annualized return.

IUSC.DE

1D
-0.68%
1M
-7.19%
YTD
10.69%
6M
8.24%
1Y
33.46%
3Y*
10.03%
5Y*
9.18%
10Y*
6.94%

VAPX.AS

1D
-3.34%
1M
10.58%
YTD
50.19%
6M
55.62%
1Y
79.45%
3Y*
24.50%
5Y*
12.51%
10Y*
11.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IUSC.DE vs. VAPX.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IUSC.DE
iShares MSCI EM Latin America UCITS ETF (Dist)		10.69%36.88%-22.89%28.61%15.20%-3.88%-19.69%18.47%-2.77%6.14%
VAPX.AS
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF		50.19%24.27%0.59%6.01%-7.19%8.72%8.76%18.36%-10.39%15.47%

Correlation

The correlation between IUSC.DE and VAPX.AS is 0.51, 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

0.51

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

0.50

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

0.51

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

0.55

Correlation (All Time)
Calculated using the full available price history since Jun 6, 2013

0.59

The correlation between IUSC.DE and VAPX.AS has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.

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iShares MSCI EM Latin America UCITS ETF (Dist)

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF

Often compared with IUSC.DE:
IUSC.DE vs. XMBR.LIUSC.DE vs. SCHGIUSC.DE vs. IAPD.LIUSC.DE vs. AMEL.DEIUSC.DE vs. DBX3.DEIUSC.DE vs. VUSA.LIUSC.DE vs. 5MVL.DE
Often compared with VAPX.AS:
VAPX.AS vs. EEMAVAPX.AS vs. V3PA.DEVAPX.AS vs. VOOVAPX.AS vs. IDAP.LVAPX.AS vs. PRFVAPX.AS vs. VUGVAPX.AS vs. SCHD

Return for Risk

IUSC.DE vs. VAPX.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IUSC.DE
IUSC.DE Risk / Return Rank: 5555
Overall Rank
IUSC.DE Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
IUSC.DE Sortino Ratio Rank: 5353
Sortino Ratio Rank
IUSC.DE Omega Ratio Rank: 5151
Omega Ratio Rank
IUSC.DE Calmar Ratio Rank: 6161
Calmar Ratio Rank
IUSC.DE Martin Ratio Rank: 5454
Martin Ratio Rank
VAPX.AS
VAPX.AS Risk / Return Rank: 9393
Overall Rank
VAPX.AS Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
VAPX.AS Sortino Ratio Rank: 9393
Sortino Ratio Rank
VAPX.AS Omega Ratio Rank: 9494
Omega Ratio Rank
VAPX.AS Calmar Ratio Rank: 9292
Calmar Ratio Rank
VAPX.AS Martin Ratio Rank: 9393
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.

IUSC.DE vs. VAPX.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF (Dist) (IUSC.DE) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS). 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.

IUSC.DEVAPX.ASDifference
Sharpe ratioReturn per unit of total volatility
1.85
3.69

-1.84

Sortino ratioReturn per unit of downside risk
2.53
4.53

-2.00

Omega ratioGain probability vs. loss probability

1.31

1.67

-0.36

Calmar ratioReturn relative to maximum drawdown

2.99

6.04

-3.04

Martin ratioReturn relative to average drawdown

9.20

23.49

-14.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUSC.DE vs. VAPX.AS - Sharpe Ratio Comparison

The current IUSC.DE Sharpe Ratio is 1.85, which is lower than the VAPX.AS Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of IUSC.DE and VAPX.AS, 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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Sharpe Ratios by Period

IUSC.DEVAPX.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

3.69

-1.84

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.74

-0.30

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.27

0.64

-0.37

Sharpe Ratio (All Time)

Calculated using the full available price history

0.08

0.54

-0.46

Drawdowns

IUSC.DE vs. VAPX.AS - Drawdown Comparison

The maximum IUSC.DE drawdown since its inception was -58.97%, which is greater than VAPX.AS's maximum drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for IUSC.DE and VAPX.AS.

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Drawdown Indicators

IUSC.DEVAPX.ASDifference

Max Drawdown

Largest peak-to-trough decline

-58.97%

-36.99%

-21.98%

Max Drawdown (1Y)

Largest decline over 1 year

-11.12%

-12.96%

+1.84%

Max Drawdown (3Y)

Largest decline over 3 years

-25.76%

-19.68%

-6.08%

Max Drawdown (5Y)

Largest decline over 5 years

-25.76%

-19.68%

-6.08%

Max Drawdown (10Y)

Largest decline over 10 years

-49.91%

-36.99%

-12.92%

Current Drawdown

Current decline from peak

-11.12%

-3.68%

-7.44%

Average Drawdown

Average peak-to-trough decline

-25.36%

-6.58%

-18.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.63%

3.35%

+0.28%

Volatility

IUSC.DE vs. VAPX.AS - Volatility Comparison

The current volatility for iShares MSCI EM Latin America UCITS ETF (Dist) (IUSC.DE) is 5.36%, while Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF (VAPX.AS) has a volatility of 10.60%. This indicates that IUSC.DE experiences smaller price fluctuations and is considered to be less risky than VAPX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IUSC.DEVAPX.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.36%

10.60%

-5.24%

Volatility (6M)

Calculated over the trailing 6-month period

15.06%

18.88%

-3.82%

Volatility (1Y)

Calculated over the trailing 1-year period

17.96%

21.20%

-3.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.76%

16.69%

+4.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.22%

17.80%

+7.42%

IUSC.DE vs. VAPX.AS - Expense Ratio Comparison

IUSC.DE has a 0.20% expense ratio, which is higher than VAPX.AS's 0.15% 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

IUSC.DE vs. VAPX.AS - Dividend Comparison

IUSC.DE's dividend yield for the trailing twelve months is around 3.02%, more than VAPX.AS's 1.55% yield.

PositionTTM20252024202320222021202020192018201720162015
IUSC.DE
iShares MSCI EM Latin America UCITS ETF (Dist)		3.02%3.20%5.24%3.98%6.78%2.68%1.65%2.07%1.88%1.41%1.22%2.65%
VAPX.AS
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF		1.55%2.41%3.16%3.28%4.23%2.95%1.80%2.96%3.03%2.78%2.57%3.20%

Frequently Asked Questions

IUSC.DE and VAPX.AS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VAPX.AS is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VAPX.AS is cheaper with a 0.15% expense ratio, compared with 0.20% for IUSC.DE.

IUSC.DE is categorized as Latin America Equities, while VAPX.AS is Asia Pacific Equities. IUSC.DE tracks MSCI Emerging Markets Latin America 10/40, while VAPX.AS tracks MSCI AC Asia Pac Ex JPN NR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IUSC.DE and 0.15% for VAPX.AS.

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