VAPX.L vs. LGAP.L
VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) and LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc)) are both Asia Pacific Equities funds - VAPX.L tracks the MSCI AC Asia Pac Ex JPN NR USD while LGAP.L tracks the Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap USD Index NTR. Both are passively managed. Over the past 5 years, VAPX.L returned 10.46%/yr vs 5.84%/yr for LGAP.L. Their correlation of 0.82 suggests significant overlap in exposure. VAPX.L charges 0.15%/yr vs 0.10%/yr for LGAP.L.
Performance
VAPX.L vs. LGAP.L - Performance Comparison
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Different Trading Currencies
VAPX.L is traded in GBP, while LGAP.L is traded in USD. To make them comparable, the LGAP.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 32.17% return, which is significantly higher than LGAP.L's 8.82% return.
VAPX.L
- 1D
- -0.94%
- 1M
- -13.99%
- 6M
- 23.04%
- YTD
- 32.17%
- 1Y
- 52.72%
- 3Y*
- 20.60%
- 5Y*
- 10.46%
- 10Y*
- 10.33%
LGAP.L
- 1D
- -0.79%
- 1M
- -2.17%
- 6M
- 5.38%
- YTD
- 8.82%
- 1Y
- 13.02%
- 3Y*
- 10.73%
- 5Y*
- 5.84%
- 10Y*
- —
VAPX.L vs. LGAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 32.17% | 31.34% | -3.50% | 3.89% | -1.65% | 1.83% | 15.31% | 12.85% | -1.10% |
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc) | 8.82% | 12.35% | 6.50% | -0.42% | 5.57% | 3.84% | 5.25% | 13.30% | 0.38% |
Correlation
The correlation between VAPX.L and LGAP.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.82 |
Over the past year, the correlation between VAPX.L and LGAP.L has dropped to 0.60 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
VAPX.L vs. LGAP.L — Risk / Return Rank
VAPX.L
LGAP.L
VAPX.L vs. LGAP.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 L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc) (LGAP.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.
| VAPX.L | LGAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.19 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 1.84 | +1.27 |
| Martin ratioReturn relative to average drawdown | 10.76 | 4.79 | +5.97 |
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Drawdowns
VAPX.L vs. LGAP.L - Drawdown Comparison
The maximum VAPX.L drawdown since its inception was -30.88%, roughly equal to the maximum LGAP.L drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for VAPX.L and LGAP.L.
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Drawdown Indicators
| VAPX.L | LGAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.88% | -32.02% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -16.88% | -7.06% | -9.82% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | -17.57% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.55% | -18.59% | +1.04% |
Max Drawdown (10Y)Largest decline over 10 years | -30.88% | — | — |
Current DrawdownCurrent decline from peak | -16.88% | -2.86% | -14.02% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -5.98% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 2.71% | +2.18% |
Volatility
VAPX.L vs. LGAP.L - Volatility Comparison
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 13.48% compared to L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc) (LGAP.L) at 3.00%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than LGAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAPX.L | LGAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.48% | 3.00% | +10.48% |
Volatility (6M)Calculated over the trailing 6-month period | 24.15% | 10.48% | +13.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.81% | 12.70% | +13.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 15.20% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 17.53% | +0.50% |
VAPX.L vs. LGAP.L - Expense Ratio Comparison
VAPX.L has a 0.15% expense ratio, which is higher than LGAP.L's 0.10% expense ratio. However, 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. LGAP.L - Dividend Comparison
VAPX.L's dividend yield for the trailing twelve months is around 2.09%, while LGAP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing | 2.09% | 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 LGAP.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGAP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGAP.L is cheaper with a 0.10% expense ratio, compared with 0.15% for VAPX.L.
VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD, while LGAP.L tracks Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap USD Index NTR. They also come from different issuers: Vanguard and L&G. Their fees differ too: 0.15% for VAPX.L and 0.10% for LGAP.L.
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