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UB45.L vs. IAPD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UB45.L vs. IAPD.L

Last updated Jun 5, 2026

UB45.L (UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis) and IAPD.L (iShares Asia Pacific Dividend UCITS) are both Asia Pacific Equities funds tracking the MSCI AC Asia Pacific NR USD, from UBS and iShares respectively. Both are passively managed. Over the past 10 years, UB45.L returned 7.61%/yr vs 9.65%/yr for IAPD.L. A 0.55 correlation means they provide meaningful diversification when combined. UB45.L charges 0.40%/yr vs 0.59%/yr for IAPD.L.

Performance

UB45.L vs. IAPD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (UB45.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, UB45.L achieves a 8.51% return, which is significantly lower than IAPD.L's 13.20% return. Over the past 10 years, UB45.L has underperformed IAPD.L with an annualized return of 7.61%, while IAPD.L has yielded a comparatively higher 9.65% annualized return.

UB45.L

1D
-0.79%
1M
1.90%
YTD
8.51%
6M
8.87%
1Y
16.93%
3Y*
7.81%
5Y*
5.06%
10Y*
7.61%

IAPD.L

1D
0.04%
1M
-1.63%
YTD
13.20%
6M
13.81%
1Y
40.68%
3Y*
20.42%
5Y*
12.72%
10Y*
9.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UB45.L vs. IAPD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UB45.L
UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis		8.51%9.37%4.53%7.70%-8.77%2.31%12.19%18.74%-9.12%10.67%
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 UB45.L and IAPD.L is 0.50, 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

0.50

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

0.56

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

0.60

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

0.63

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2014

0.55

The correlation between UB45.L and IAPD.L shifts across timeframes, from 0.50 (1 year) to 0.63 (10 years), reflecting how their relationship changes across market environments.

UB45.L vs. IAPD.L - Sectors Allocation Comparison

Sectors
UB45.L
IAPD.L

Financial Services

26.7%
30.9%

Industrials

17.8%
7.1%

Technology

17.7%
1.6%

Communication Services

9.4%
4.7%

Basic Materials

7.6%
16.1%

Healthcare

6.7%
3.5%

Consumer Cyclical

5.9%
10.9%

Real Estate

4.1%
10.6%

Consumer Defensive

4.0%
5.2%

Energy

-

5.1%

Utilities

-

4.5%

Financial Services

UB45.L
26.7%
IAPD.L
30.9%

Industrials

UB45.L
17.8%
IAPD.L
7.1%

Technology

UB45.L
17.7%
IAPD.L
1.6%

Communication Services

UB45.L
9.4%
IAPD.L
4.7%

Basic Materials

UB45.L
7.6%
IAPD.L
16.1%

Healthcare

UB45.L
6.7%
IAPD.L
3.5%

Consumer Cyclical

UB45.L
5.9%
IAPD.L
10.9%

Real Estate

UB45.L
4.1%
IAPD.L
10.6%

Consumer Defensive

UB45.L
4.0%
IAPD.L
5.2%

Energy

UB45.L

-

IAPD.L
5.1%

Utilities

UB45.L

-

IAPD.L
4.5%

Compare stocks, funds, or ETFs

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UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis

iShares Asia Pacific Dividend UCITS

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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

UB45.L vs. IAPD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UB45.L
UB45.L Risk / Return Rank: 3131
Overall Rank
UB45.L Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
UB45.L Sortino Ratio Rank: 2929
Sortino Ratio Rank
UB45.L Omega Ratio Rank: 2929
Omega Ratio Rank
UB45.L Calmar Ratio Rank: 3333
Calmar Ratio Rank
UB45.L Martin Ratio Rank: 3535
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.

UB45.L vs. IAPD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (UB45.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.

UB45.LIAPD.LDifference
Sharpe ratioReturn per unit of total volatility
1.02
3.89

-2.87

Sortino ratioReturn per unit of downside risk
1.54
5.56

-4.02

Omega ratioGain probability vs. loss probability

1.19

1.71

-0.51

Calmar ratioReturn relative to maximum drawdown

1.60

6.04

-4.43

Martin ratioReturn relative to average drawdown

5.30

20.30

-15.00

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

UB45.L vs. IAPD.L - Sharpe Ratio Comparison

The current UB45.L Sharpe Ratio is 1.02, which is lower than the IAPD.L Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of UB45.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

UB45.LIAPD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

3.89

-2.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

1.02

-0.68

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.62

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.56

+0.01

Drawdowns

UB45.L vs. IAPD.L - Drawdown Comparison

The maximum UB45.L drawdown since its inception was -23.46%, smaller than the maximum IAPD.L drawdown of -52.66%. Use the drawdown chart below to compare losses from any high point for UB45.L and IAPD.L.

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Drawdown Indicators

UB45.LIAPD.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.46%

-52.66%

+29.20%

Max Drawdown (1Y)

Largest decline over 1 year

-10.11%

-6.92%

-3.19%

Max Drawdown (3Y)

Largest decline over 3 years

-14.14%

-16.88%

+2.74%

Max Drawdown (5Y)

Largest decline over 5 years

-17.65%

-16.88%

-0.77%

Max Drawdown (10Y)

Largest decline over 10 years

-23.46%

-37.53%

+14.07%

Current Drawdown

Current decline from peak

-0.79%

-2.91%

+2.12%

Average Drawdown

Average peak-to-trough decline

-5.36%

-7.37%

+2.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.07%

2.06%

+1.01%

Volatility

UB45.L vs. IAPD.L - Volatility Comparison

UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (UB45.L) and iShares Asia Pacific Dividend UCITS (IAPD.L) have volatilities of 3.32% 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

UB45.LIAPD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.32%

3.49%

-0.17%

Volatility (6M)

Calculated over the trailing 6-month period

12.66%

8.32%

+4.34%

Volatility (1Y)

Calculated over the trailing 1-year period

15.87%

10.73%

+5.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.68%

12.44%

+2.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.99%

15.46%

+0.53%

UB45.L vs. IAPD.L - Expense Ratio Comparison

UB45.L has a 0.40% expense ratio, which is lower than IAPD.L's 0.59% expense ratio.

Dividends

UB45.L vs. IAPD.L - Dividend Comparison

UB45.L's dividend yield for the trailing twelve months is around 1.43%, 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%
UB45.L
UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis		1.43%1.87%1.81%1.88%2.08%1.42%1.73%2.39%2.79%2.48%2.20%2.60%

Frequently Asked Questions

UB45.L and IAPD.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, UB45.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

UB45.L is cheaper with a 0.40% expense ratio, compared with 0.59% for IAPD.L.

Both ETFs track MSCI AC Asia Pacific NR USD. They also come from different issuers: UBS and iShares. Their fees differ too: 0.40% for UB45.L and 0.59% for IAPD.L.

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