UB45.L vs. IDAP.L

Last updated Jun 5, 2026

UB45.L (UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis) and IDAP.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 7.95%/yr for IDAP.L. A 0.51 correlation means they provide meaningful diversification when combined. UB45.L charges 0.40%/yr vs 0.59%/yr for IDAP.L.

Performance

UB45.L vs. IDAP.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 (IDAP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UB45.L is traded in GBp, while IDAP.L is traded in USD. To make them comparable, the IDAP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, UB45.L achieves a 8.51% return, which is significantly lower than IDAP.L's 13.27% return. Both investments have delivered pretty close results over the past 10 years, with UB45.L having a 7.61% annualized return and IDAP.L not far ahead at 7.95%.

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%

IDAP.L

• 1D: -0.41%
• 1M: -1.49%
• YTD: 13.27%
• 6M: 13.07%
• 1Y: 38.36%
• 3Y*: 18.60%
• 5Y*: 10.90%
• 10Y*: 7.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IDAP.L iShares Asia Pacific Dividend UCITS	13.27%	20.45%	8.04%	7.81%	9.70%	4.37%	-12.05%	9.56%	-10.20%	6.88%

Correlation

The correlation between UB45.L and IDAP.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 8, 2014	0.51

The correlation between UB45.L and IDAP.L has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

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

Sectors	UB45.L	IDAP.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%

Return for Risk

UB45.L vs. IDAP.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: 31
UB45.L Sharpe Ratio Rank: 29
UB45.L Sortino Ratio Rank: 29
UB45.L Omega Ratio Rank: 29
UB45.L Calmar Ratio Rank: 33
UB45.L Martin Ratio Rank: 35

IDAP.L

IDAP.L Risk / Return Rank: 86
IDAP.L Sharpe Ratio Rank: 89
IDAP.L Sortino Ratio Rank: 89
IDAP.L Omega Ratio Rank: 86
IDAP.L Calmar Ratio Rank: 83
IDAP.L Martin Ratio Rank: 84

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. IDAP.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 (IDAP.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.L	IDAP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.02	3.28	-2.26
Sortino ratio: Return per unit of downside risk	1.54	4.42	-2.89
Omega ratio: Gain probability vs. loss probability	1.19	1.58	-0.38
Calmar ratio: Return relative to maximum drawdown	1.60	5.04	-3.43
Martin ratio: Return relative to average drawdown	5.30	19.35	-14.05
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. IDAP.L - Sharpe Ratio Comparison

The current UB45.L Sharpe Ratio is 1.02, which is lower than the IDAP.L Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of UB45.L and IDAP.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.

Sharpe Ratios by Period

	UB45.L	IDAP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	3.28	-2.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.82	-0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.49	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.29	+0.27

Drawdowns

UB45.L vs. IDAP.L - Drawdown Comparison

The maximum UB45.L drawdown since its inception was -23.46%, smaller than the maximum IDAP.L drawdown of -55.27%. Use the drawdown chart below to compare losses from any high point for UB45.L and IDAP.L.

Drawdown Indicators

	UB45.L	IDAP.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.46%	-55.27%	+31.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.11%	-7.82%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	-17.11%	+2.97%
Max Drawdown (5Y) Largest decline over 5 years	-17.65%	-17.11%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	-23.46%	-38.20%	+14.74%
Current Drawdown Current decline from peak	-0.79%	-3.05%	+2.26%
Average Drawdown Average peak-to-trough decline	-5.36%	-8.42%	+3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.04%	+1.03%

Volatility

UB45.L vs. IDAP.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI Pacific Socially Responsible UCITS ETF (USD) A-dis (UB45.L) is 3.32%, while iShares Asia Pacific Dividend UCITS (IDAP.L) has a volatility of 4.06%. This indicates that UB45.L experiences smaller price fluctuations and is considered to be less risky than IDAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UB45.L	IDAP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	4.06%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	12.66%	9.50%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	12.02%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.68%	13.25%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	16.12%	-0.13%

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

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

Dividends

UB45.L vs. IDAP.L - Dividend Comparison

UB45.L's dividend yield for the trailing twelve months is around 1.43%, less than IDAP.L's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDAP.L iShares Asia Pacific Dividend UCITS	3.65%	4.22%	5.36%	5.72%	6.92%	5.59%	3.49%	5.52%	6.04%	4.55%	4.54%	5.47%
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

Can I hold both UB45.L and IDAP.L in my portfolio?

UB45.L and IDAP.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UB45.L or IDAP.L?

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.

Which ETF is cheaper, UB45.L or IDAP.L?

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

What is the main difference between UB45.L and IDAP.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 IDAP.L.