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

PAXG.L vs. IAPD.L

Last updated Jun 5, 2026

PAXG.L (Lyxor MSCI Pacific Ex Japan UCITS) and IAPD.L (iShares Asia Pacific Dividend UCITS) are both Asia Pacific Equities funds - PAXG.L tracks the MSCI Pacific Ex Japan NR USD while IAPD.L tracks the MSCI AC Asia Pacific NR USD. Both are passively managed. Over the past 5 years, PAXG.L returned 1.86%/yr vs 12.72%/yr for IAPD.L. At a 0.35 correlation, their price movements are largely independent. PAXG.L charges 0.12%/yr vs 0.59%/yr for IAPD.L.

Performance

PAXG.L vs. IAPD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and iShares Asia Pacific Dividend UCITS (IAPD.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PAXG.L achieves a 8.84% return, which is significantly lower than IAPD.L's 13.20% return.

PAXG.L

1D
-0.86%
1M
0.45%
YTD
8.84%
6M
5.98%
1Y
13.70%
3Y*
6.05%
5Y*
1.86%
10Y*
—

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)

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

2026 (YTD)202520242023202220212020201920182017
PAXG.L
Lyxor MSCI Pacific Ex Japan UCITS		8.84%8.63%1.48%-3.00%-0.45%0.41%0.63%7.84%-4.76%9.31%
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 PAXG.L and IAPD.L is 0.76, 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

0.76

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

0.64

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

0.48

Correlation (All Time)
Calculated using the full available price history since Aug 2, 2016

0.35

Over the past year, PAXG.L and IAPD.L have become more correlated (0.76) than their long-term average of 0.35, meaning their price movements have been converging.

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

Sectors
PAXG.L
IAPD.L

Financial Services

46.1%
30.9%

Basic Materials

14.6%
16.1%

Industrials

8.5%
7.1%

Real Estate

7.8%
10.6%

Consumer Cyclical

6.0%
10.9%

Healthcare

3.7%
3.5%

Utilities

3.6%
4.5%

Consumer Defensive

3.0%
5.2%

Energy

2.9%
5.1%

Communication Services

2.7%
4.7%

Technology

1.1%
1.6%

Financial Services

PAXG.L
46.1%
IAPD.L
30.9%

Basic Materials

PAXG.L
14.6%
IAPD.L
16.1%

Industrials

PAXG.L
8.5%
IAPD.L
7.1%

Real Estate

PAXG.L
7.8%
IAPD.L
10.6%

Consumer Cyclical

PAXG.L
6.0%
IAPD.L
10.9%

Healthcare

PAXG.L
3.7%
IAPD.L
3.5%

Utilities

PAXG.L
3.6%
IAPD.L
4.5%

Consumer Defensive

PAXG.L
3.0%
IAPD.L
5.2%

Energy

PAXG.L
2.9%
IAPD.L
5.1%

Communication Services

PAXG.L
2.7%
IAPD.L
4.7%

Technology

PAXG.L
1.1%
IAPD.L
1.6%

Compare stocks, funds, or ETFs

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

Lyxor MSCI Pacific Ex Japan UCITS

iShares Asia Pacific Dividend UCITS

Often compared with PAXG.L:
PAXG.L vs. XDJP.LPAXG.L vs. CSJP.LPAXG.L vs. LCCN.LPAXG.L vs. AIL.DEPAXG.L vs. ESIF.LPAXG.L vs. FRQX.LPAXG.L vs. FRXT.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

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PAXG.L
PAXG.L Risk / Return Rank: 3434
Overall Rank
PAXG.L Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
PAXG.L Sortino Ratio Rank: 3535
Sortino Ratio Rank
PAXG.L Omega Ratio Rank: 3434
Omega Ratio Rank
PAXG.L Calmar Ratio Rank: 3838
Calmar Ratio Rank
PAXG.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.

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

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Pacific Ex Japan UCITS (PAXG.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.

PAXG.LIAPD.LDifference
Sharpe ratioReturn per unit of total volatility
1.22
3.89

-2.68

Sortino ratioReturn per unit of downside risk
1.78
5.56

-3.78

Omega ratioGain probability vs. loss probability

1.23

1.71

-0.48

Calmar ratioReturn relative to maximum drawdown

1.83

6.04

-4.21

Martin ratioReturn relative to average drawdown

4.61

20.30

-15.69

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

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

The current PAXG.L Sharpe Ratio is 1.22, which is lower than the IAPD.L Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of PAXG.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

PAXG.LIAPD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

3.89

-2.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.17

1.02

-0.85

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.62

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.56

-0.21

Drawdowns

PAXG.L vs. IAPD.L - Drawdown Comparison

The maximum PAXG.L drawdown since its inception was -31.27%, smaller than the maximum IAPD.L drawdown of -52.66%. Use the drawdown chart below to compare losses from any high point for PAXG.L and IAPD.L.

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Drawdown Indicators

PAXG.LIAPD.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.27%

-52.66%

+21.39%

Max Drawdown (1Y)

Largest decline over 1 year

-7.45%

-6.92%

-0.53%

Max Drawdown (3Y)

Largest decline over 3 years

-21.29%

-16.88%

-4.41%

Max Drawdown (5Y)

Largest decline over 5 years

-21.29%

-16.88%

-4.41%

Max Drawdown (10Y)

Largest decline over 10 years

—

-37.53%

—

Current Drawdown

Current decline from peak

-3.15%

-2.91%

-0.24%

Average Drawdown

Average peak-to-trough decline

-6.86%

-7.37%

+0.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.97%

2.06%

+0.91%

Volatility

PAXG.L vs. IAPD.L - Volatility Comparison

Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and iShares Asia Pacific Dividend UCITS (IAPD.L) have volatilities of 3.60% and 3.49%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PAXG.LIAPD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.60%

3.49%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

8.91%

8.32%

+0.59%

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

17.63%

12.44%

+5.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.15%

15.46%

+7.69%

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

PAXG.L has a 0.12% expense ratio, which is lower than IAPD.L's 0.59% expense ratio.

Dividends

PAXG.L vs. IAPD.L - Dividend Comparison

PAXG.L's dividend yield for the trailing twelve months is around 0.03%, 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%
PAXG.L
Lyxor MSCI Pacific Ex Japan UCITS		0.03%0.03%0.06%0.04%0.04%0.04%0.03%0.04%0.04%0.03%0.02%0.00%

Frequently Asked Questions

PAXG.L and IAPD.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, PAXG.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PAXG.L is cheaper with a 0.12% expense ratio, compared with 0.59% for IAPD.L.

PAXG.L tracks MSCI Pacific Ex Japan NR USD, while IAPD.L tracks MSCI AC Asia Pacific NR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for PAXG.L and 0.59% for IAPD.L.

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