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PAXG.L vs. UB20.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PAXG.L vs. UB20.L

Last updated Jul 16, 2026
Documentation

PAXG.L (Lyxor MSCI Pacific Ex Japan UCITS) and UB20.L (UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis) are both Asia Pacific Equities funds tracking the MSCI Pacific Ex Japan NR USD, from Amundi and UBS respectively. Both are passively managed. Over the past 10 years, PAXG.L returned 7.73%/yr vs 7.32%/yr for UB20.L. With a 0.98 correlation, they move nearly in lockstep. PAXG.L charges 0.12%/yr vs 0.30%/yr for UB20.L.

Performance

PAXG.L vs. UB20.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 UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with PAXG.L having a 10.98% return and UB20.L slightly lower at 10.97%. Over the past 10 years, PAXG.L has outperformed UB20.L with an annualized return of 7.73%, while UB20.L has yielded a comparatively lower 7.32% annualized return.

PAXG.L

1D
-0.23%
1M
1.79%
6M
9.11%
YTD
10.98%
1Y
16.11%
3Y*
11.80%
5Y*
6.63%
10Y*
7.73%

UB20.L

1D
-0.24%
1M
1.61%
6M
9.07%
YTD
10.97%
1Y
16.04%
3Y*
11.71%
5Y*
6.54%
10Y*
7.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PAXG.L vs. UB20.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PAXG.L
Lyxor MSCI Pacific Ex Japan UCITS		10.98%12.31%6.85%-0.04%5.42%5.32%3.46%13.91%-3.83%16.22%
UB20.L
UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis		10.97%12.00%6.98%-0.10%5.26%5.29%3.52%14.10%-5.54%14.53%

Correlation

The correlation between PAXG.L and UB20.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.98

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

0.98

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Apr 29, 2015

0.98

The correlation between PAXG.L and UB20.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

PAXG.L vs. UB20.L - Sectors Allocation Comparison

Sectors
PAXG.L
UB20.L

Financial Services

45.0%
45.1%

Basic Materials

16.3%
16.3%

Industrials

8.5%
8.5%

Real Estate

7.8%
7.8%

Consumer Cyclical

6.3%
6.3%

Utilities

3.5%
3.5%

Healthcare

3.3%
3.3%

Consumer Defensive

3.0%
3.0%

Energy

2.7%
2.7%

Communication Services

2.6%
2.6%

Technology

1.0%
1.0%

Financial Services

PAXG.L
45.0%
UB20.L
45.1%

Basic Materials

PAXG.L
16.3%
UB20.L
16.3%

Industrials

PAXG.L
8.5%
UB20.L
8.5%

Real Estate

PAXG.L
7.8%
UB20.L
7.8%

Consumer Cyclical

PAXG.L
6.3%
UB20.L
6.3%

Utilities

PAXG.L
3.5%
UB20.L
3.5%

Healthcare

PAXG.L
3.3%
UB20.L
3.3%

Consumer Defensive

PAXG.L
3.0%
UB20.L
3.0%

Energy

PAXG.L
2.7%
UB20.L
2.7%

Communication Services

PAXG.L
2.6%
UB20.L
2.6%

Technology

PAXG.L
1.0%
UB20.L
1.0%

Compare stocks, funds, or ETFs

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Lyxor MSCI Pacific Ex Japan UCITS

UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis

Often compared with PAXG.L:
PAXG.L vs. CSJP.LPAXG.L vs. XDJP.LPAXG.L vs. LCCN.LPAXG.L vs. AIL.DEPAXG.L vs. ESIF.LPAXG.L vs. FRQX.LPAXG.L vs. FRXT.L
Often compared with UB20.L:
UB20.L vs. EQQQ.LUB20.L vs. XKS2.LUB20.L vs. UC44.LUB20.L vs. FRIN.LUB20.L vs. HMEF.LUB20.L vs. PADV.LUB20.L vs. ASDV.L

Return for Risk

PAXG.L vs. UB20.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: 5050
Overall Rank
PAXG.L Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
PAXG.L Sortino Ratio Rank: 5353
Sortino Ratio Rank
PAXG.L Omega Ratio Rank: 5050
Omega Ratio Rank
PAXG.L Calmar Ratio Rank: 5252
Calmar Ratio Rank
PAXG.L Martin Ratio Rank: 4444
Martin Ratio Rank
UB20.L
UB20.L Risk / Return Rank: 4949
Overall Rank
UB20.L Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
UB20.L Sortino Ratio Rank: 5252
Sortino Ratio Rank
UB20.L Omega Ratio Rank: 4848
Omega Ratio Rank
UB20.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
UB20.L Martin Ratio Rank: 4545
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. UB20.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 UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

PAXG.LUB20.LDifference
Sharpe ratioReturn per unit of total volatility
1.43
1.42

+0.01

Sortino ratioReturn per unit of downside risk
2.12
2.11

+0.01

Omega ratioGain probability vs. loss probability

1.26

1.26

+0.01

Calmar ratioReturn relative to maximum drawdown

2.15

2.18

-0.03

Martin ratioReturn relative to average drawdown

5.95

6.04

-0.09

PAXG.L vs. UB20.L - Sharpe Ratio Comparison

The current PAXG.L Sharpe Ratio is 1.43, which is comparable to the UB20.L Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of PAXG.L and UB20.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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Drawdowns

PAXG.L vs. UB20.L - Drawdown Comparison

The maximum PAXG.L drawdown since its inception was -49.97%, which is greater than UB20.L's maximum drawdown of -32.34%. Use the drawdown chart below to compare losses from any high point for PAXG.L and UB20.L.

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Drawdown Indicators

PAXG.LUB20.LDifference

Max Drawdown

Largest peak-to-trough decline

-49.97%

-32.34%

-17.63%

Max Drawdown (1Y)

Largest decline over 1 year

-7.45%

-7.32%

-0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-17.58%

-17.80%

+0.22%

Max Drawdown (5Y)

Largest decline over 5 years

-17.67%

-17.80%

+0.13%

Max Drawdown (10Y)

Largest decline over 10 years

-32.37%

-32.34%

-0.03%

Current Drawdown

Current decline from peak

-1.25%

-1.18%

-0.07%

Average Drawdown

Average peak-to-trough decline

-12.88%

-6.49%

-6.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

2.65%

+0.05%

Volatility

PAXG.L vs. UB20.L - Volatility Comparison

Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) have volatilities of 2.56% and 2.64%, 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.LUB20.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.56%

2.64%

-0.08%

Volatility (6M)

Calculated over the trailing 6-month period

9.05%

9.07%

-0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

11.23%

11.29%

-0.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.85%

14.00%

-0.15%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.24%

15.73%

-0.49%

PAXG.L vs. UB20.L - Expense Ratio Comparison

PAXG.L has a 0.12% expense ratio, which is lower than UB20.L's 0.30% expense ratio.

Dividends

PAXG.L vs. UB20.L - Dividend Comparison

PAXG.L's dividend yield for the trailing twelve months is around 3.05%, more than UB20.L's 2.87% yield.

PositionTTM20252024202320222021202020192018201720162015
PAXG.L
Lyxor MSCI Pacific Ex Japan UCITS		3.05%3.38%5.61%4.03%4.41%3.74%2.85%4.08%5.57%4.50%4.22%3.29%
UB20.L
UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis		2.87%3.86%3.26%3.96%3.66%2.60%3.05%4.08%4.33%3.43%4.00%5.19%

Frequently Asked Questions

With a correlation of 0.98, PAXG.L and UB20.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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 0.30% for UB20.L.

Both ETFs track MSCI Pacific Ex Japan NR USD. They also come from different issuers: Amundi and UBS. Their fees differ too: 0.12% for PAXG.L and 0.30% for UB20.L.

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