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

PAXJ.L vs. UB20.L

Last updated Jul 18, 2026
Documentation

PAXJ.L (Lyxor MSCI Pacific Ex Japan UCITS ETF) 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, PAXJ.L returned 7.59%/yr vs 7.52%/yr for UB20.L. Their correlation of 0.93 suggests significant overlap in exposure. PAXJ.L charges 0.12%/yr vs 0.30%/yr for UB20.L.

Performance

PAXJ.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 ETF (PAXJ.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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Different Trading Currencies

PAXJ.L is traded in USD, while UB20.L is traded in GBp. To make them comparable, the UB20.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with PAXJ.L having a 10.76% return and UB20.L slightly lower at 10.42%. Both investments have delivered pretty close results over the past 10 years, with PAXJ.L having a 7.59% annualized return and UB20.L not far behind at 7.52%.

PAXJ.L

1D
1.25%
1M
0.76%
6M
8.36%
YTD
10.76%
1Y
15.60%
3Y*
12.67%
5Y*
6.04%
10Y*
7.59%

UB20.L

1D
-0.38%
1M
1.13%
6M
8.13%
YTD
10.42%
1Y
15.21%
3Y*
12.75%
5Y*
5.96%
10Y*
7.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
PAXJ.L
Lyxor MSCI Pacific Ex Japan UCITS ETF		10.76%20.73%4.91%5.72%-5.83%3.99%7.09%17.60%-10.17%26.25%
UB20.L
UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis		10.42%20.45%5.20%5.17%-5.99%4.34%6.69%18.67%-10.89%25.43%

Correlation

The correlation between PAXJ.L and UB20.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

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

0.95

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

0.95

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

0.93

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

0.93

The correlation between PAXJ.L and UB20.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

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

Sectors
PAXJ.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

PAXJ.L
45.0%
UB20.L
45.1%

Basic Materials

PAXJ.L
16.3%
UB20.L
16.3%

Industrials

PAXJ.L
8.5%
UB20.L
8.5%

Real Estate

PAXJ.L
7.8%
UB20.L
7.8%

Consumer Cyclical

PAXJ.L
6.3%
UB20.L
6.3%

Utilities

PAXJ.L
3.5%
UB20.L
3.5%

Healthcare

PAXJ.L
3.3%
UB20.L
3.3%

Consumer Defensive

PAXJ.L
3.0%
UB20.L
3.0%

Energy

PAXJ.L
2.7%
UB20.L
2.7%

Communication Services

PAXJ.L
2.6%
UB20.L
2.6%

Technology

PAXJ.L
1.0%
UB20.L
1.0%

Compare stocks, funds, or ETFs

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Lyxor MSCI Pacific Ex Japan UCITS ETF

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

Often compared with PAXJ.L:
PAXJ.L vs. AUAD.LPAXJ.L vs. IKOR.LPAXJ.L vs. LDAG.LPAXJ.L vs. HMXJ.LPAXJ.L vs. LAUU.LPAXJ.L vs. IDAP.LPAXJ.L vs. IAPD.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. PADV.LUB20.L vs. HMEF.LUB20.L vs. ASDV.L

Return for Risk

PAXJ.L vs. UB20.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PAXJ.L
PAXJ.L Risk / Return Rank: 4141
Overall Rank
PAXJ.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PAXJ.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
PAXJ.L Omega Ratio Rank: 3838
Omega Ratio Rank
PAXJ.L Calmar Ratio Rank: 4646
Calmar Ratio Rank
PAXJ.L Martin Ratio Rank: 4141
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: 5252
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.

PAXJ.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 ETF (PAXJ.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.

PAXJ.LUB20.LDifference
Sharpe ratioReturn per unit of total volatility
1.11
1.11

0.00

Sortino ratioReturn per unit of downside risk
1.74
1.72

+0.02

Omega ratioGain probability vs. loss probability

1.20

1.20

0.00

Calmar ratioReturn relative to maximum drawdown

1.82

1.70

+0.11

Martin ratioReturn relative to average drawdown

5.00

4.79

+0.21

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

The current PAXJ.L Sharpe Ratio is 1.11, which is comparable to the UB20.L Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of PAXJ.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

PAXJ.L vs. UB20.L - Drawdown Comparison

The maximum PAXJ.L drawdown since its inception was -38.87%, roughly equal to the maximum UB20.L drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for PAXJ.L and UB20.L.

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Drawdown Indicators

PAXJ.LUB20.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.87%

-38.44%

-0.43%

Max Drawdown (1Y)

Largest decline over 1 year

-8.61%

-8.89%

+0.28%

Max Drawdown (3Y)

Largest decline over 3 years

-18.87%

-19.32%

+0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-24.06%

-24.36%

+0.30%

Max Drawdown (10Y)

Largest decline over 10 years

-38.87%

-38.44%

-0.43%

Current Drawdown

Current decline from peak

-1.47%

-1.85%

+0.38%

Average Drawdown

Average peak-to-trough decline

-8.06%

-7.90%

-0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

3.17%

-0.04%

Volatility

PAXJ.L vs. UB20.L - Volatility Comparison

Lyxor MSCI Pacific Ex Japan UCITS ETF (PAXJ.L) has a higher volatility of 3.36% compared to UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis (UB20.L) at 3.11%. This indicates that PAXJ.L's price experiences larger fluctuations and is considered to be riskier than UB20.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PAXJ.LUB20.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.36%

3.11%

+0.25%

Volatility (6M)

Calculated over the trailing 6-month period

11.50%

11.22%

+0.28%

Volatility (1Y)

Calculated over the trailing 1-year period

14.08%

13.61%

+0.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.28%

17.10%

+0.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

17.51%

-0.05%

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

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

Dividends

PAXJ.L vs. UB20.L - Dividend Comparison

PAXJ.L's dividend yield for the trailing twelve months is around 3.02%, more than UB20.L's 2.88% yield.

PositionTTM20252024202320222021202020192018201720162015
PAXJ.L
Lyxor MSCI Pacific Ex Japan UCITS ETF		3.02%3.34%5.71%3.97%4.42%3.75%2.69%3.95%4.36%3.33%3.43%2.22%
UB20.L
UBS ETF (LU) MSCI Pacific (ex Japan) UCITS ETF (USD) A-dis		2.88%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 0.93, PAXJ.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, PAXJ.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

PAXJ.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 PAXJ.L and 0.30% for UB20.L.

Portfolio Optimizer

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