SPICHA.SW vs. VAPX.L
SPICHA.SW (UBS ETF (CH) – SPI® (CHF) A-dis) and VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) are both exchange-traded funds - SPICHA.SW is a Europe Equities fund tracking the SPI® Index, while VAPX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD. Both are passively managed. Over the past 10 years, SPICHA.SW returned 7.70%/yr vs 9.64%/yr for VAPX.L. A 0.54 correlation means they provide meaningful diversification when combined. SPICHA.SW charges 0.10%/yr vs 0.15%/yr for VAPX.L.
Performance
SPICHA.SW vs. VAPX.L - Performance Comparison
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Different Trading Currencies
SPICHA.SW is traded in CHF, while VAPX.L is traded in GBP. To make them comparable, the VAPX.L values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPICHA.SW achieves a 3.22% return, which is significantly lower than VAPX.L's 40.40% return. Over the past 10 years, SPICHA.SW has underperformed VAPX.L with an annualized return of 7.70%, while VAPX.L has yielded a comparatively higher 9.64% annualized return.
SPICHA.SW
- 1D
- 0.82%
- 1M
- 1.60%
- YTD
- 3.22%
- 6M
- 5.76%
- 1Y
- 10.32%
- 3Y*
- 7.66%
- 5Y*
- 4.66%
- 10Y*
- 7.70%
VAPX.L
- 1D
- 0.65%
- 1M
- 0.70%
- YTD
- 40.40%
- 6M
- 43.37%
- 1Y
- 65.38%
- 3Y*
- 20.02%
- 5Y*
- 8.07%
- 10Y*
- 9.64%
SPICHA.SW vs. VAPX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPICHA.SW UBS ETF (CH) – SPI® (CHF) A-dis | 3.22% | 17.65% | 6.05% | 5.82% | -16.70% | 23.29% | 3.83% | 29.94% | -8.35% | 19.42% |
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 40.40% | 23.42% | 2.37% | -0.42% | -10.96% | 3.88% | 8.82% | 15.38% | -13.86% | 26.24% |
Correlation
The correlation between SPICHA.SW and VAPX.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since May 22, 2013 | 0.54 |
Over the past year, the correlation between SPICHA.SW and VAPX.L has dropped to 0.34 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
SPICHA.SW vs. VAPX.L — Risk / Return Rank
SPICHA.SW
VAPX.L
SPICHA.SW vs. VAPX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (CH) – SPI® (CHF) A-dis (SPICHA.SW) and Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.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.
| SPICHA.SW | VAPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.54 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 5.55 | -4.53 |
| Martin ratioReturn relative to average drawdown | 3.55 | 19.66 | -16.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPICHA.SW | VAPX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.98 | -2.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.45 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.51 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.33 | +0.24 |
Drawdowns
SPICHA.SW vs. VAPX.L - Drawdown Comparison
The maximum SPICHA.SW drawdown since its inception was -26.92%, smaller than the maximum VAPX.L drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for SPICHA.SW and VAPX.L.
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Drawdown Indicators
| SPICHA.SW | VAPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.92% | -37.64% | +10.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.89% | -11.72% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -15.90% | -21.14% | +5.24% |
Max Drawdown (5Y)Largest decline over 5 years | -21.48% | -28.00% | +6.52% |
Max Drawdown (10Y)Largest decline over 10 years | -26.92% | -37.64% | +10.72% |
Current DrawdownCurrent decline from peak | -2.21% | -8.43% | +6.22% |
Average DrawdownAverage peak-to-trough decline | -5.21% | -9.67% | +4.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.32% | -0.23% |
Volatility
SPICHA.SW vs. VAPX.L - Volatility Comparison
The current volatility for UBS ETF (CH) – SPI® (CHF) A-dis (SPICHA.SW) is 3.18%, while Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a volatility of 11.93%. This indicates that SPICHA.SW experiences smaller price fluctuations and is considered to be less risky than VAPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPICHA.SW | VAPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 11.93% | -8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 8.93% | 19.29% | -10.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 21.91% | -10.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.19% | 17.88% | -4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.92% | 18.95% | -5.03% |
SPICHA.SW vs. VAPX.L - Expense Ratio Comparison
SPICHA.SW has a 0.10% expense ratio, which is lower than VAPX.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPICHA.SW vs. VAPX.L - Dividend Comparison
SPICHA.SW's dividend yield for the trailing twelve months is around 2.20%, more than VAPX.L's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPICHA.SW UBS ETF (CH) – SPI® (CHF) A-dis | 2.20% | 2.64% | 2.96% | 2.94% | 2.83% | 2.26% | 2.55% | 2.60% | 3.21% | 2.62% | 3.04% | 2.87% |
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 1.91% | 2.70% | 3.47% | 3.53% | 4.32% | 3.51% | 2.08% | 3.39% | 3.52% | 3.10% | 2.71% | 3.49% |
Frequently Asked Questions
SPICHA.SW and VAPX.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPICHA.SW is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPICHA.SW is cheaper with a 0.10% expense ratio, compared with 0.15% for VAPX.L.
SPICHA.SW is categorized as Europe Equities, while VAPX.L is Asia Pacific Equities. SPICHA.SW tracks SPI® Index, while VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.10% for SPICHA.SW and 0.15% for VAPX.L.
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