VAPX.L vs. INAA.L

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) and iShares MSCI North America UCITS (INAA.L).

VAPX.L and INAA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAPX.L is a passively managed fund by Vanguard that tracks the performance of the MSCI AC Asia Pac Ex JPN NR USD. It was launched on May 21, 2013. INAA.L is a passively managed fund by iShares that tracks the performance of the Russell 1000 TR USD. It was launched on Jun 2, 2006. Both VAPX.L and INAA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VAPX.L vs. INAA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) and iShares MSCI North America UCITS (INAA.L). The values are adjusted to include any dividend payments, if applicable.

VAPX.L vs. INAA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing	16.34%	30.80%	-3.74%	3.63%	-1.84%	1.30%	14.91%	12.74%	-9.53%	20.31%
INAA.L iShares MSCI North America UCITS	-3.09%	9.48%	26.59%	19.48%	-10.23%	28.62%	15.54%	25.93%	-1.17%	10.17%

Different Trading Currencies

VAPX.L is traded in GBP, while INAA.L is traded in GBp. To make them comparable, the INAA.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VAPX.L achieves a 16.34% return, which is significantly higher than INAA.L's -3.09% return. Over the past 10 years, VAPX.L has underperformed INAA.L with an annualized return of 10.18%, while INAA.L has yielded a comparatively higher 14.13% annualized return.

VAPX.L

• 1D: 4.82%
• 1M: -7.53%
• YTD: 16.34%
• 6M: 26.51%
• 1Y: 52.30%
• 3Y*: 14.76%
• 5Y*: 7.88%
• 10Y*: 10.18%

INAA.L

• 1D: 1.48%
• 1M: -3.31%
• YTD: -3.09%
• 6M: 0.11%
• 1Y: 15.02%
• 3Y*: 15.51%
• 5Y*: 11.89%
• 10Y*: 14.13%

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

VAPX.L vs. INAA.L - Expense Ratio Comparison

VAPX.L has a 0.15% expense ratio, which is lower than INAA.L's 0.40% expense ratio.

INAA.L

iShares MSCI North America UCITS

VAPX.L

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing

Return for Risk

VAPX.L vs. INAA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VAPX.L

VAPX.L Risk / Return Rank: 95
VAPX.L Sharpe Ratio Rank: 97
VAPX.L Sortino Ratio Rank: 96
VAPX.L Omega Ratio Rank: 96
VAPX.L Calmar Ratio Rank: 94
VAPX.L Martin Ratio Rank: 94

INAA.L

INAA.L Risk / Return Rank: 58
INAA.L Sharpe Ratio Rank: 51
INAA.L Sortino Ratio Rank: 50
INAA.L Omega Ratio Rank: 51
INAA.L Calmar Ratio Rank: 72
INAA.L Martin Ratio Rank: 63

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.

VAPX.L vs. INAA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) and iShares MSCI North America UCITS (INAA.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.

	VAPX.L	INAA.L	Difference
Sharpe ratio Return per unit of total volatility	2.80	0.97	+1.83
Sortino ratio Return per unit of downside risk	3.40	1.41	+1.99
Omega ratio Gain probability vs. loss probability	1.53	1.20	+0.33
Calmar ratio Return relative to maximum drawdown	3.93	2.05	+1.87
Martin ratio Return relative to average drawdown	15.29	6.95	+8.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAPX.L vs. INAA.L - Sharpe Ratio Comparison

The current VAPX.L Sharpe Ratio is 2.80, which is higher than the INAA.L Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of VAPX.L and INAA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VAPX.L	INAA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	0.97	+1.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.82	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.91	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.70	-0.27

Correlation

The correlation between VAPX.L and INAA.L is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VAPX.L vs. INAA.L - Dividend Comparison

VAPX.L's dividend yield for the trailing twelve months is around 1.97%, more than INAA.L's 0.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing	1.97%	2.36%	3.20%	3.30%	4.12%	2.99%	1.81%	3.28%	3.55%	3.07%	2.71%	3.45%
INAA.L iShares MSCI North America UCITS	0.69%	0.66%	0.76%	0.98%	1.11%	0.74%	1.09%	1.26%	1.40%	1.32%	1.30%	1.51%

Drawdowns

VAPX.L vs. INAA.L - Drawdown Comparison

The maximum VAPX.L drawdown since its inception was -30.88%, smaller than the maximum INAA.L drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for VAPX.L and INAA.L.

Drawdown Indicators

	VAPX.L	INAA.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.88%	-35.35%	+4.47%
Max Drawdown (1Y) Largest decline over 1 year	-13.47%	-10.70%	-2.77%
Max Drawdown (5Y) Largest decline over 5 years	-18.04%	-21.20%	+3.16%
Max Drawdown (10Y) Largest decline over 10 years	-30.88%	-26.15%	-4.73%
Current Drawdown Current decline from peak	-9.31%	-4.84%	-4.47%
Average Drawdown Average peak-to-trough decline	-6.53%	-4.75%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.14%	+1.32%

Volatility

VAPX.L vs. INAA.L - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 9.26% compared to iShares MSCI North America UCITS (INAA.L) at 3.80%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than INAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAPX.L	INAA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.26%	3.80%	+5.46%
Volatility (6M) Calculated over the trailing 6-month period	15.10%	8.37%	+6.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.70%	15.51%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	14.50%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	15.66%	+1.36%