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VAPX.L vs. IWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VAPX.L vs. IWM

Last updated Jun 9, 2026

VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - VAPX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, VAPX.L returned 12.48%/yr vs 11.52%/yr for IWM. At a 0.45 correlation, their price movements are largely independent. VAPX.L charges 0.15%/yr vs 0.19%/yr for IWM.

Performance

VAPX.L vs. IWM - 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 Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VAPX.L is traded in GBP, while IWM is traded in USD. To make them comparable, the IWM 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 40.82% return, which is significantly higher than IWM's 16.75% return. Over the past 10 years, VAPX.L has outperformed IWM with an annualized return of 12.48%, while IWM has yielded a comparatively lower 11.52% annualized return.

VAPX.L

1D
0.30%
1M
0.03%
YTD
40.82%
6M
44.79%
1Y
72.72%
3Y*
22.66%
5Y*
11.85%
10Y*
12.48%

IWM

1D
0.84%
1M
2.14%
YTD
16.75%
6M
13.64%
1Y
37.38%
3Y*
14.36%
5Y*
6.67%
10Y*
11.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VAPX.L vs. IWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VAPX.L
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing		40.82%31.34%-3.50%3.89%-1.65%1.83%15.31%12.85%-9.57%20.38%
IWM
iShares Russell 2000 ETF		16.75%4.63%13.33%10.99%-11.03%15.62%16.51%20.62%-5.85%4.67%

Correlation

The correlation between VAPX.L and IWM is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.41

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

0.39

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

0.45

Correlation (All Time)
Calculated using the full available price history since May 22, 2013

0.45

VAPX.L vs. IWM - Sectors Allocation Comparison

Sectors
VAPX.L
IWM

Technology

30.2%
19.5%

Financial Services

25.3%
15.6%

Industrials

12.5%
17.2%

Basic Materials

9.5%
4.5%

Consumer Cyclical

5.3%
7.9%

Real Estate

4.9%
5.6%

Healthcare

3.3%
16.1%

Consumer Defensive

2.5%
2.1%

Communication Services

2.4%
2.1%

Energy

2.3%
5.8%

Utilities

2.0%
3.0%

Technology

VAPX.L
30.2%
IWM
19.5%

Financial Services

VAPX.L
25.3%
IWM
15.6%

Industrials

VAPX.L
12.5%
IWM
17.2%

Basic Materials

VAPX.L
9.5%
IWM
4.5%

Consumer Cyclical

VAPX.L
5.3%
IWM
7.9%

Real Estate

VAPX.L
4.9%
IWM
5.6%

Healthcare

VAPX.L
3.3%
IWM
16.1%

Consumer Defensive

VAPX.L
2.5%
IWM
2.1%

Communication Services

VAPX.L
2.4%
IWM
2.1%

Energy

VAPX.L
2.3%
IWM
5.8%

Utilities

VAPX.L
2.0%
IWM
3.0%

Compare stocks, funds, or ETFs

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Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing

iShares Russell 2000 ETF

Often compared with VAPX.L:
VAPX.L vs. HMXJ.LVAPX.L vs. VFEG.LVAPX.L vs. V3PA.DEVAPX.L vs. EIXVAPX.L vs. INAA.LVAPX.L vs. VTVAPX.L vs. SPHD
Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO

Return for Risk

VAPX.L vs. IWM — 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: 9393
Overall Rank
VAPX.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
VAPX.L Sortino Ratio Rank: 9292
Sortino Ratio Rank
VAPX.L Omega Ratio Rank: 9494
Omega Ratio Rank
VAPX.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
VAPX.L Martin Ratio Rank: 9191
Martin Ratio Rank
IWM
IWM Risk / Return Rank: 6363
Overall Rank
IWM Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 6060
Sortino Ratio Rank
IWM Omega Ratio Rank: 5454
Omega Ratio Rank
IWM Calmar Ratio Rank: 7171
Calmar Ratio Rank
IWM Martin Ratio Rank: 6868
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.

VAPX.L vs. IWM - 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 Russell 2000 ETF (IWM). 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.LIWMDifference
Sharpe ratioReturn per unit of total volatility
3.43
2.06

+1.36

Sortino ratioReturn per unit of downside risk
4.10
2.78

+1.33

Omega ratioGain probability vs. loss probability

1.63

1.35

+0.28

Calmar ratioReturn relative to maximum drawdown

5.40

4.17

+1.22

Martin ratioReturn relative to average drawdown

19.83

13.73

+6.10

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. IWM - Sharpe Ratio Comparison

The current VAPX.L Sharpe Ratio is 3.43, which is higher than the IWM Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of VAPX.L and IWM, 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

VAPX.LIWMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.43

2.06

+1.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.73

0.32

+0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

0.51

+0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.43

+0.09

Drawdowns

VAPX.L vs. IWM - Drawdown Comparison

The maximum VAPX.L drawdown since its inception was -30.88%, smaller than the maximum IWM drawdown of -40.47%. Use the drawdown chart below to compare losses from any high point for VAPX.L and IWM.

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Drawdown Indicators

VAPX.LIWMDifference

Max Drawdown

Largest peak-to-trough decline

-30.88%

-40.47%

+9.59%

Max Drawdown (1Y)

Largest decline over 1 year

-13.41%

-9.00%

-4.41%

Max Drawdown (3Y)

Largest decline over 3 years

-16.81%

-28.81%

+12.00%

Max Drawdown (5Y)

Largest decline over 5 years

-17.55%

-28.81%

+11.26%

Max Drawdown (10Y)

Largest decline over 10 years

-30.88%

-35.76%

+4.88%

Current Drawdown

Current decline from peak

-8.79%

-2.12%

-6.67%

Average Drawdown

Average peak-to-trough decline

-6.31%

-8.62%

+2.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.66%

2.73%

+0.93%

Volatility

VAPX.L vs. IWM - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 11.60% compared to iShares Russell 2000 ETF (IWM) at 5.88%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VAPX.LIWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.60%

5.88%

+5.72%

Volatility (6M)

Calculated over the trailing 6-month period

18.95%

12.77%

+6.18%

Volatility (1Y)

Calculated over the trailing 1-year period

21.14%

18.23%

+2.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.22%

21.06%

-4.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.48%

22.53%

-5.05%

VAPX.L vs. IWM - Expense Ratio Comparison

VAPX.L has a 0.15% expense ratio, which is lower than IWM's 0.19% 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

VAPX.L vs. IWM - Dividend Comparison

VAPX.L's dividend yield for the trailing twelve months is around 1.91%, more than IWM's 0.89% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.89%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
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

VAPX.L and IWM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VAPX.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VAPX.L is cheaper with a 0.15% expense ratio, compared with 0.19% for IWM.

VAPX.L is categorized as Asia Pacific Equities, while IWM is Small Cap Blend Equities. VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD, while IWM tracks Russell 2000 Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.15% for VAPX.L and 0.19% for IWM.

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