VAPX.L vs. USD=X
VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) is Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD, while USD=X (USD Cash) is a currency. Over the past 10 years, VAPX.L returned 10.66%/yr vs -0.21%/yr for USD=X. At a 0.11 correlation, their price movements are largely independent.
Performance
VAPX.L vs. USD=X - Performance Comparison
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Different Trading Currencies
VAPX.L is traded in GBP, while USD=X is traded in USD. To make them comparable, the USD=X 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 37.72% return, which is significantly higher than USD=X's 0.66% return. Over the past 10 years, VAPX.L has outperformed USD=X with an annualized return of 10.66%, while USD=X has yielded a comparatively lower -0.21% annualized return.
VAPX.L
- 1D
- 3.38%
- 1M
- -11.75%
- 6M
- 29.15%
- YTD
- 37.72%
- 1Y
- 58.24%
- 3Y*
- 22.12%
- 5Y*
- 11.41%
- 10Y*
- 10.66%
- ALL TIME*
- 8.91%
USD=X
- 1D
- 0.00%
- 1M
- -1.32%
- 6M
- 0.43%
- YTD
- 0.66%
- 1Y
- 0.80%
- 3Y*
- -1.34%
- 5Y*
- 0.54%
- 10Y*
- -0.21%
- ALL TIME*
- 2.18%
VAPX.L vs. USD=X - 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 | 37.72% | 31.34% | -3.50% | 3.89% | -1.65% | 1.83% | 15.31% | 12.85% | -9.57% | 20.38% |
USD=X USD Cash | 0.66% | -7.12% | 1.75% | -5.00% | 11.89% | 0.95% | -2.94% | -3.80% | 5.93% | -8.65% |
Correlation
The correlation between VAPX.L and USD=X is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since May 21, 2013 | 0.11 |
The correlation between VAPX.L and USD=X shifts across timeframes, from -0.08 (5 years) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VAPX.L vs. USD=X — Risk / Return Rank
VAPX.L
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VAPX.L vs. USD=X - 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 USD Cash (USD=X). 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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.08 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.03 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 0.18 | +3.25 |
| Martin ratioReturn relative to average drawdown | 11.47 | 0.39 | +11.08 |
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Drawdowns
VAPX.L vs. USD=X - Drawdown Comparison
The maximum VAPX.L drawdown since its inception was -30.88%, which is greater than USD=X's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for VAPX.L and USD=X.
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Drawdown Indicators
| VAPX.L | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.88% | -22.85% | -8.03% |
Max Drawdown (1Y)Largest decline over 1 year | -16.88% | -5.98% | -10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -16.88% | -12.79% | -4.09% |
Max Drawdown (5Y)Largest decline over 5 years | -17.55% | -22.85% | +5.30% |
Max Drawdown (10Y)Largest decline over 10 years | -30.88% | -22.85% | -8.03% |
Current DrawdownCurrent decline from peak | -13.39% | -20.18% | +6.79% |
Average DrawdownAverage peak-to-trough decline | -6.33% | -11.19% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 2.83% | +2.23% |
Volatility
VAPX.L vs. USD=X - Volatility Comparison
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 14.00% compared to USD Cash (USD=X) at 1.69%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than USD=X 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 | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.00% | 1.69% | +12.31% |
Volatility (6M)Calculated over the trailing 6-month period | 24.34% | 5.40% | +18.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.00% | 5.75% | +20.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.59% | 7.11% | +10.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 7.32% | +10.75% |
Frequently Asked Questions
VAPX.L and USD=X have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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