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

SPXJ.L vs. ITWN.L

Last updated Jun 25, 2026

SPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF (Dist)) and ITWN.L (iShares MSCI Taiwan UCITS ETF) are both Asia Pacific Equities funds from iShares - SPXJ.L tracks the MSCI Pacific Ex Japan NR USD while ITWN.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, SPXJ.L returned 7.80%/yr vs 22.53%/yr for ITWN.L. A 0.65 correlation means they provide meaningful diversification when combined. SPXJ.L charges 0.60%/yr vs 0.74%/yr for ITWN.L.

Performance

SPXJ.L vs. ITWN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Pacific ex-Japan UCITS ETF (Dist) (SPXJ.L) and iShares MSCI Taiwan UCITS ETF (ITWN.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, SPXJ.L achieves a 8.36% return, which is significantly lower than ITWN.L's 69.22% return. Over the past 10 years, SPXJ.L has underperformed ITWN.L with an annualized return of 7.80%, while ITWN.L has yielded a comparatively higher 22.53% annualized return.

SPXJ.L

1D
0.01%
1M
0.04%
YTD
8.36%
6M
7.90%
1Y
15.89%
3Y*
11.04%
5Y*
5.51%
10Y*
7.80%

ITWN.L

1D
-1.19%
1M
9.11%
YTD
69.22%
6M
73.41%
1Y
108.23%
3Y*
41.73%
5Y*
22.75%
10Y*
22.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPXJ.L vs. ITWN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPXJ.L
iShares MSCI Pacific ex-Japan UCITS ETF (Dist)		8.36%11.70%6.26%-0.31%4.87%5.07%3.08%13.81%-5.83%14.36%
ITWN.L
iShares MSCI Taiwan UCITS ETF		69.22%22.61%25.77%21.84%-21.08%29.84%30.38%29.88%-3.90%16.56%

Correlation

The correlation between SPXJ.L and ITWN.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.51

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

0.55

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

0.63

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2009

0.65

Over the past year, the correlation between SPXJ.L and ITWN.L has dropped to 0.44 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

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

Sectors
SPXJ.L
ITWN.L

Financial Services

44.6%
10.4%

Basic Materials

16.4%
1.8%

Industrials

8.6%
1.8%

Real Estate

7.4%

-

Consumer Cyclical

6.4%
0.9%

Healthcare

3.5%
0.5%

Utilities

3.5%

-

Consumer Defensive

3.1%
0.7%

Energy

2.8%

-

Communication Services

2.6%
1.3%

Technology

1.0%
82.6%

Financial Services

SPXJ.L
44.6%
ITWN.L
10.4%

Basic Materials

SPXJ.L
16.4%
ITWN.L
1.8%

Industrials

SPXJ.L
8.6%
ITWN.L
1.8%

Real Estate

SPXJ.L
7.4%
ITWN.L

-

Consumer Cyclical

SPXJ.L
6.4%
ITWN.L
0.9%

Healthcare

SPXJ.L
3.5%
ITWN.L
0.5%

Utilities

SPXJ.L
3.5%
ITWN.L

-

Consumer Defensive

SPXJ.L
3.1%
ITWN.L
0.7%

Energy

SPXJ.L
2.8%
ITWN.L

-

Communication Services

SPXJ.L
2.6%
ITWN.L
1.3%

Technology

SPXJ.L
1.0%
ITWN.L
82.6%

Compare stocks, funds, or ETFs

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

iShares MSCI Pacific ex-Japan UCITS ETF (Dist)

iShares MSCI Taiwan UCITS ETF

Often compared with SPXJ.L:
SPXJ.L vs. SPYSPXJ.L vs. XDEQ.LSPXJ.L vs. HKOR.LSPXJ.L vs. SWDA.LSPXJ.L vs. HTWN.LSPXJ.L vs. CPJ1.LSPXJ.L vs. HMXJ.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. IUIT.L

Return for Risk

SPXJ.L vs. ITWN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPXJ.L
SPXJ.L Risk / Return Rank: 4646
Overall Rank
SPXJ.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
SPXJ.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
SPXJ.L Omega Ratio Rank: 4545
Omega Ratio Rank
SPXJ.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
SPXJ.L Martin Ratio Rank: 4141
Martin Ratio Rank
ITWN.L
ITWN.L Risk / Return Rank: 9797
Overall Rank
ITWN.L Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ITWN.L Sortino Ratio Rank: 9696
Sortino Ratio Rank
ITWN.L Omega Ratio Rank: 9696
Omega Ratio Rank
ITWN.L Calmar Ratio Rank: 9898
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.

SPXJ.L vs. ITWN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex-Japan UCITS ETF (Dist) (SPXJ.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.

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.

SPXJ.LITWN.LDifference
Sharpe ratioReturn per unit of total volatility
1.41
4.41

-3.00

Sortino ratioReturn per unit of downside risk
2.07
5.07

-3.00

Omega ratioGain probability vs. loss probability

1.26

1.70

-0.44

Calmar ratioReturn relative to maximum drawdown

2.14

11.49

-9.35

Martin ratioReturn relative to average drawdown

6.01

30.65

-24.65

SPXJ.L vs. ITWN.L - Sharpe Ratio Comparison

The current SPXJ.L Sharpe Ratio is 1.41, which is lower than the ITWN.L Sharpe Ratio of 4.41. The chart below compares the historical Sharpe Ratios of SPXJ.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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Drawdowns

SPXJ.L vs. ITWN.L - Drawdown Comparison

The maximum SPXJ.L drawdown since its inception was -34.08%, smaller than the maximum ITWN.L drawdown of -72.46%. Use the drawdown chart below to compare losses from any high point for SPXJ.L and ITWN.L.

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Drawdown Indicators

SPXJ.LITWN.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.08%

-72.46%

+38.38%

Max Drawdown (1Y)

Largest decline over 1 year

-7.39%

-9.36%

+1.97%

Max Drawdown (3Y)

Largest decline over 3 years

-17.62%

-29.32%

+11.70%

Max Drawdown (5Y)

Largest decline over 5 years

-17.83%

-30.07%

+12.24%

Max Drawdown (10Y)

Largest decline over 10 years

-32.60%

-30.07%

-2.53%

Current Drawdown

Current decline from peak

-3.12%

-5.95%

+2.83%

Average Drawdown

Average peak-to-trough decline

-7.24%

-21.94%

+14.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

3.52%

-0.88%

Volatility

SPXJ.L vs. ITWN.L - Volatility Comparison

The current volatility for iShares MSCI Pacific ex-Japan UCITS ETF (Dist) (SPXJ.L) is 3.89%, while iShares MSCI Taiwan UCITS ETF (ITWN.L) has a volatility of 10.60%. This indicates that SPXJ.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

SPXJ.LITWN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.89%

10.60%

-6.71%

Volatility (6M)

Calculated over the trailing 6-month period

8.98%

20.41%

-11.43%

Volatility (1Y)

Calculated over the trailing 1-year period

11.27%

24.48%

-13.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.90%

21.14%

-7.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

20.46%

-4.67%

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

SPXJ.L has a 0.60% expense ratio, which is lower than ITWN.L's 0.74% expense ratio.

Dividends

SPXJ.L vs. ITWN.L - Dividend Comparison

SPXJ.L's dividend yield for the trailing twelve months is around 2.47%, 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%2.30%2.72%2.74%2.86%3.21%
SPXJ.L
iShares MSCI Pacific ex-Japan UCITS ETF (Dist)		2.47%2.93%3.42%3.57%3.75%2.86%2.63%3.68%3.71%3.37%3.22%3.32%

Frequently Asked Questions

SPXJ.L and ITWN.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPXJ.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPXJ.L is cheaper with a 0.60% expense ratio, compared with 0.74% for ITWN.L.

SPXJ.L tracks MSCI Pacific Ex Japan NR USD, while ITWN.L tracks MSCI Taiwan NR USD. Their fees differ too: 0.60% for SPXJ.L and 0.74% for ITWN.L.

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