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

PADV.L vs. ITWN.L

Last updated Jun 5, 2026

PADV.L (SPDR S&P Pan Asia Dividend Aristocrats UCITS) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds - PADV.L tracks the MSCI AC Asia Pacific NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, PADV.L returned 7.74%/yr vs 23.12%/yr for ITWN.L. At a 0.50 correlation, their price movements are largely independent. PADV.L charges 0.55%/yr vs 0.74%/yr for ITWN.L.

Performance

PADV.L vs. ITWN.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 MSCI Taiwan UCITS ETF (ITWN.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 ITWN.L is traded in GBp. To make them comparable, the ITWN.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 ITWN.L's 67.93% return. Over the past 10 years, PADV.L has underperformed ITWN.L with an annualized return of 7.74%, while ITWN.L has yielded a comparatively higher 23.12% 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%

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

PADV.L vs. ITWN.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%
ITWN.L
iShares MSCI Taiwan UCITS ETF		67.93%22.61%25.77%21.84%-21.08%29.84%29.40%30.88%-3.90%16.56%

Correlation

The correlation between PADV.L and ITWN.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

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

0.44

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

0.47

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

0.55

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

0.50

The correlation between PADV.L and ITWN.L shifts across timeframes, from 0.30 (1 year) to 0.55 (10 years), reflecting how their relationship changes across market environments.

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

Sectors
PADV.L
ITWN.L

Financial Services

33.0%
10.9%

Utilities

14.9%

-

Consumer Defensive

9.2%
0.8%

Healthcare

8.7%
0.6%

Industrials

7.3%
2.4%

Consumer Cyclical

6.7%
1.2%

Technology

6.7%
80.7%

Communication Services

6.2%
1.4%

Real Estate

4.6%

-

Basic Materials

2.8%
2.0%

Energy

-

-

Financial Services

PADV.L
33.0%
ITWN.L
10.9%

Utilities

PADV.L
14.9%
ITWN.L

-

Consumer Defensive

PADV.L
9.2%
ITWN.L
0.8%

Healthcare

PADV.L
8.7%
ITWN.L
0.6%

Industrials

PADV.L
7.3%
ITWN.L
2.4%

Consumer Cyclical

PADV.L
6.7%
ITWN.L
1.2%

Technology

PADV.L
6.7%
ITWN.L
80.7%

Communication Services

PADV.L
6.2%
ITWN.L
1.4%

Real Estate

PADV.L
4.6%
ITWN.L

-

Basic Materials

PADV.L
2.8%
ITWN.L
2.0%

Energy

PADV.L

-

ITWN.L

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P Pan Asia Dividend Aristocrats UCITS

iShares MSCI Taiwan UCITS ETF

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 ITWN.L:
ITWN.L vs. QQQITWN.L vs. SPINXITWN.L vs. TSMITWN.L vs. VTIITWN.L vs. VWCE.DEITWN.L vs. FLXT.DEITWN.L vs. FLIN

Return for Risk

PADV.L vs. ITWN.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
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9797
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
ITWN.L Martin Ratio Rank: 9696
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. ITWN.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 MSCI Taiwan UCITS ETF (ITWN.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.LITWN.LDifference
Sharpe ratioReturn per unit of total volatility
1.17
5.10

-3.93

Sortino ratioReturn per unit of downside risk
1.63
5.92

-4.29

Omega ratioGain probability vs. loss probability

1.21

1.81

-0.60

Calmar ratioReturn relative to maximum drawdown

1.87

12.46

-10.59

Martin ratioReturn relative to average drawdown

4.60

34.79

-30.19

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. ITWN.L - Sharpe Ratio Comparison

The current PADV.L Sharpe Ratio is 1.17, which is lower than the ITWN.L Sharpe Ratio of 5.10. The chart below compares the historical Sharpe Ratios of PADV.L and ITWN.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.LITWN.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

5.10

-3.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

1.10

-0.69

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

1.17

-0.62

Sharpe Ratio (All Time)

Calculated using the full available price history

0.44

0.64

-0.20

Drawdowns

PADV.L vs. ITWN.L - Drawdown Comparison

The maximum PADV.L drawdown since its inception was -27.09%, smaller than the maximum ITWN.L drawdown of -48.27%. Use the drawdown chart below to compare losses from any high point for PADV.L and ITWN.L.

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Drawdown Indicators

PADV.LITWN.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.09%

-48.27%

+21.18%

Max Drawdown (1Y)

Largest decline over 1 year

-7.01%

-9.36%

+2.35%

Max Drawdown (3Y)

Largest decline over 3 years

-10.60%

-29.32%

+18.72%

Max Drawdown (5Y)

Largest decline over 5 years

-20.25%

-30.07%

+9.82%

Max Drawdown (10Y)

Largest decline over 10 years

-24.94%

-30.07%

+5.13%

Current Drawdown

Current decline from peak

-4.84%

-1.80%

-3.04%

Average Drawdown

Average peak-to-trough decline

-5.65%

-9.18%

+3.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.87%

3.36%

-0.49%

Volatility

PADV.L vs. ITWN.L - Volatility Comparison

The current volatility for SPDR S&P Pan Asia Dividend Aristocrats UCITS (PADV.L) is 2.49%, while iShares MSCI Taiwan UCITS ETF (ITWN.L) has a volatility of 9.68%. This indicates that PADV.L experiences smaller price fluctuations and is considered to be less risky than ITWN.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.LITWN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.49%

9.68%

-7.19%

Volatility (6M)

Calculated over the trailing 6-month period

8.83%

18.60%

-9.77%

Volatility (1Y)

Calculated over the trailing 1-year period

11.24%

22.88%

-11.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.03%

20.77%

-7.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.63%

20.55%

-5.92%

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

PADV.L has a 0.55% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

PADV.L vs. ITWN.L - Dividend Comparison

PADV.L's dividend yield for the trailing twelve months is around 2.89%, more than ITWN.L's 0.89% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
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 ITWN.L have a correlation of 0.30, 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 0.74% for ITWN.L.

PADV.L tracks MSCI AC Asia Pacific NR USD, while ITWN.L tracks MSCI Taiwan NR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.55% for PADV.L and 0.74% for ITWN.L.

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