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PADV.L vs. IAPD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PADV.L vs. IAPD.L

Last updated Jun 5, 2026

PADV.L (SPDR S&P Pan Asia Dividend Aristocrats UCITS) and IAPD.L (iShares Asia Pacific Dividend UCITS) are both Asia Pacific Equities funds tracking the MSCI AC Asia Pacific NR USD, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, PADV.L returned 7.74%/yr vs 9.65%/yr for IAPD.L. A 0.65 correlation means they provide meaningful diversification when combined. PADV.L charges 0.55%/yr vs 0.59%/yr for IAPD.L.

Performance

PADV.L vs. IAPD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) and iShares Asia Pacific Dividend UCITS (IAPD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, PADV.L achieves a 3.65% return, which is significantly lower than IAPD.L's 13.20% return. Over the past 10 years, PADV.L has underperformed IAPD.L with an annualized return of 7.74%, while IAPD.L has yielded a comparatively higher 9.65% annualized return.

PADV.L

1D
-0.57%
1M
-0.94%
YTD
3.65%
6M
0.91%
1Y
13.55%
3Y*
10.47%
5Y*
5.22%
10Y*
7.74%

IAPD.L

1D
0.04%
1M
0.77%
YTD
13.20%
6M
13.76%
1Y
41.98%
3Y*
20.42%
5Y*
12.72%
10Y*
9.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PADV.L vs. IAPD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PADV.L
SPDR S&P Pan Asia Dividend Aristocrats UCITS		3.65%14.61%6.60%9.29%-5.74%3.20%-2.54%16.77%-3.74%18.23%
IAPD.L
iShares Asia Pacific Dividend UCITS		13.20%22.91%9.51%8.99%11.40%6.82%-11.63%11.98%-8.55%8.25%

Correlation

The correlation between PADV.L and IAPD.L is 0.63, 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

0.63

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

0.68

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

0.69

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

0.73

Correlation (All Time)
Calculated using the full available price history since May 23, 2013

0.65

The correlation between PADV.L and IAPD.L shifts across timeframes, from 0.63 (1 year) to 0.73 (10 years), reflecting how their relationship changes across market environments.

PADV.L vs. IAPD.L - Sectors Allocation Comparison

Sectors
PADV.L
IAPD.L

Financial Services

33.0%
30.9%

Utilities

14.9%
4.5%

Consumer Defensive

9.2%
5.2%

Healthcare

8.7%
3.5%

Industrials

7.3%
7.1%

Consumer Cyclical

6.7%
10.9%

Technology

6.7%
1.6%

Communication Services

6.2%
4.7%

Real Estate

4.6%
10.6%

Basic Materials

2.8%
16.1%

Energy

-

5.1%

Financial Services

PADV.L
33.0%
IAPD.L
30.9%

Utilities

PADV.L
14.9%
IAPD.L
4.5%

Consumer Defensive

PADV.L
9.2%
IAPD.L
5.2%

Healthcare

PADV.L
8.7%
IAPD.L
3.5%

Industrials

PADV.L
7.3%
IAPD.L
7.1%

Consumer Cyclical

PADV.L
6.7%
IAPD.L
10.9%

Technology

PADV.L
6.7%
IAPD.L
1.6%

Communication Services

PADV.L
6.2%
IAPD.L
4.7%

Real Estate

PADV.L
4.6%
IAPD.L
10.6%

Basic Materials

PADV.L
2.8%
IAPD.L
16.1%

Energy

PADV.L

-

IAPD.L
5.1%

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SPDR S&P Pan Asia Dividend Aristocrats UCITS

iShares Asia Pacific Dividend UCITS

Often compared with PADV.L:
PADV.L vs. CPJ1.LPADV.L vs. SJPA.LPADV.L vs. AUAD.LPADV.L vs. CP9G.LPADV.L vs. UC48.LPADV.L vs. XKS2.LPADV.L vs. IDAP.L
Often compared with IAPD.L:
IAPD.L vs. 100D.LIAPD.L vs. JEPQIAPD.L vs. NOBLIAPD.L vs. CNDX.LIAPD.L vs. IJRIAPD.L vs. VAPX.LIAPD.L vs. VOO

Return for Risk

PADV.L vs. IAPD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PADV.L
PADV.L Risk / Return Rank: 3333
Overall Rank
PADV.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
PADV.L Sortino Ratio Rank: 3131
Sortino Ratio Rank
PADV.L Omega Ratio Rank: 3232
Omega Ratio Rank
PADV.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
PADV.L Martin Ratio Rank: 3232
Martin Ratio Rank
IAPD.L
IAPD.L Risk / Return Rank: 9393
Overall Rank
IAPD.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
IAPD.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
IAPD.L Omega Ratio Rank: 9595
Omega Ratio Rank
IAPD.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
IAPD.L Martin Ratio Rank: 9090
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.

PADV.L vs. IAPD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) and iShares Asia Pacific Dividend UCITS (IAPD.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.

PADV.LIAPD.LDifference
Sharpe ratioReturn per unit of total volatility
1.17
3.89

-2.72

Sortino ratioReturn per unit of downside risk
1.63
5.56

-3.93

Omega ratioGain probability vs. loss probability

1.21

1.71

-0.50

Calmar ratioReturn relative to maximum drawdown

1.87

6.04

-4.16

Martin ratioReturn relative to average drawdown

4.60

20.30

-15.70

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

PADV.L vs. IAPD.L - Sharpe Ratio Comparison

The current PADV.L Sharpe Ratio is 1.17, which is lower than the IAPD.L Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of PADV.L and IAPD.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.

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Sharpe Ratios by Period

PADV.LIAPD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

3.89

-2.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

1.02

-0.61

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.62

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.56

-0.11

Drawdowns

PADV.L vs. IAPD.L - Drawdown Comparison

The maximum PADV.L drawdown since its inception was -27.09%, smaller than the maximum IAPD.L drawdown of -52.66%. Use the drawdown chart below to compare losses from any high point for PADV.L and IAPD.L.

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Drawdown Indicators

PADV.LIAPD.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.09%

-52.66%

+25.57%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-6.92%

-0.09%

Max Drawdown (3Y)

Largest decline over 3 years

-10.60%

-16.88%

+6.28%

Max Drawdown (5Y)

Largest decline over 5 years

-20.25%

-16.88%

-3.37%

Max Drawdown (10Y)

Largest decline over 10 years

-24.94%

-37.53%

+12.59%

Current Drawdown

Current decline from peak

-4.84%

-2.91%

-1.93%

Average Drawdown

Average peak-to-trough decline

-5.65%

-7.37%

+1.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

2.06%

+0.81%

Volatility

PADV.L vs. IAPD.L - Volatility Comparison

The current volatility for SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) is 2.49%, while iShares Asia Pacific Dividend UCITS (IAPD.L) has a volatility of 3.49%. This indicates that PADV.L experiences smaller price fluctuations and is considered to be less risky than IAPD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PADV.LIAPD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

3.49%

-1.00%

Volatility (6M)

Calculated over the trailing 6-month period

8.83%

8.32%

+0.51%

Volatility (1Y)

Calculated over the trailing 1-year period

11.24%

10.73%

+0.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.03%

12.44%

+0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.63%

15.46%

-0.83%

PADV.L vs. IAPD.L - Expense Ratio Comparison

PADV.L has a 0.55% expense ratio, which is lower than IAPD.L's 0.59% expense ratio.

Dividends

PADV.L vs. IAPD.L - Dividend Comparison

PADV.L's dividend yield for the trailing twelve months is around 2.89%, less than IAPD.L's 4.89% yield.

PositionTTM20252024202320222021202020192018201720162015
IAPD.L
iShares Asia Pacific Dividend UCITS		4.89%5.67%6.72%7.29%8.34%7.53%4.77%7.26%7.70%6.15%5.60%8.10%
PADV.L
SPDR S&P Pan Asia Dividend Aristocrats UCITS		2.89%2.96%3.06%2.93%3.44%2.91%2.94%2.79%2.38%1.76%2.14%3.16%

Frequently Asked Questions

PADV.L and IAPD.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PADV.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PADV.L is cheaper with a 0.55% expense ratio, compared with 0.59% for IAPD.L.

Both ETFs track MSCI AC Asia Pacific NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.55% for PADV.L and 0.59% for IAPD.L.

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