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

VAPX.L vs. VUKG.L

Last updated Jun 5, 2026

VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) and VUKG.L (Vanguard FTSE 100 UCITS ETF (GBP) Accumulating) are both exchange-traded funds - VAPX.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD, while VUKG.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 5 years, VAPX.L returned 12.69%/yr vs 11.75%/yr for VUKG.L. A 0.65 correlation means they provide meaningful diversification when combined. VAPX.L charges 0.15%/yr vs 0.09%/yr for VUKG.L.

Performance

VAPX.L vs. VUKG.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 Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VAPX.L achieves a 48.85% return, which is significantly higher than VUKG.L's 5.56% return.

VAPX.L

1D
-3.09%
1M
10.87%
YTD
48.85%
6M
53.84%
1Y
83.65%
3Y*
24.61%
5Y*
12.69%
10Y*
12.84%

VUKG.L

1D
0.38%
1M
1.75%
YTD
5.56%
6M
8.02%
1Y
21.09%
3Y*
14.77%
5Y*
11.75%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
VAPX.L
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing		48.85%30.80%-3.74%3.63%-1.84%1.30%14.91%6.72%
VUKG.L
Vanguard FTSE 100 UCITS ETF (GBP) Accumulating		5.56%26.12%9.40%7.20%5.51%17.39%-11.57%7.70%

Correlation

The correlation between VAPX.L and VUKG.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.57

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

0.58

Correlation (All Time)
Calculated using the full available price history since May 15, 2019

0.65

Over the past year, the correlation between VAPX.L and VUKG.L has dropped to 0.40 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

VAPX.L vs. VUKG.L - Sectors Allocation Comparison

Sectors
VAPX.L
VUKG.L

Technology

30.2%
0.8%

Financial Services

25.3%
24.5%

Industrials

12.5%
13.7%

Basic Materials

9.5%
8.5%

Consumer Cyclical

5.3%
4.7%

Real Estate

4.9%
0.9%

Healthcare

3.3%
13.6%

Consumer Defensive

2.5%
13.9%

Communication Services

2.4%
2.6%

Energy

2.3%
11.7%

Utilities

2.0%
5.3%

Technology

VAPX.L
30.2%
VUKG.L
0.8%

Financial Services

VAPX.L
25.3%
VUKG.L
24.5%

Industrials

VAPX.L
12.5%
VUKG.L
13.7%

Basic Materials

VAPX.L
9.5%
VUKG.L
8.5%

Consumer Cyclical

VAPX.L
5.3%
VUKG.L
4.7%

Real Estate

VAPX.L
4.9%
VUKG.L
0.9%

Healthcare

VAPX.L
3.3%
VUKG.L
13.6%

Consumer Defensive

VAPX.L
2.5%
VUKG.L
13.9%

Communication Services

VAPX.L
2.4%
VUKG.L
2.6%

Energy

VAPX.L
2.3%
VUKG.L
11.7%

Utilities

VAPX.L
2.0%
VUKG.L
5.3%

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Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing

Vanguard FTSE 100 UCITS ETF (GBP) Accumulating

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 VUKG.L:
VUKG.L vs. VUAG.LVUKG.L vs. VUKE.LVUKG.L vs. CUKX.LVUKG.L vs. VMIG.LVUKG.L vs. VUSA.LVUKG.L vs. S100.LVUKG.L vs. HUKX.L

Return for Risk

VAPX.L vs. VUKG.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: 9494
Overall Rank
VAPX.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
VAPX.L Sortino Ratio Rank: 9595
Sortino Ratio Rank
VAPX.L Omega Ratio Rank: 9595
Omega Ratio Rank
VAPX.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
VAPX.L Martin Ratio Rank: 9292
Martin Ratio Rank
VUKG.L
VUKG.L Risk / Return Rank: 5656
Overall Rank
VUKG.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
VUKG.L Sortino Ratio Rank: 5959
Sortino Ratio Rank
VUKG.L Omega Ratio Rank: 6262
Omega Ratio Rank
VUKG.L Calmar Ratio Rank: 4949
Calmar Ratio Rank
VUKG.L Martin Ratio Rank: 4848
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. VUKG.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 Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.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.LVUKG.LDifference
Sharpe ratioReturn per unit of total volatility
4.11
1.95

+2.16

Sortino ratioReturn per unit of downside risk
4.98
2.75

+2.23

Omega ratioGain probability vs. loss probability

1.75

1.37

+0.37

Calmar ratioReturn relative to maximum drawdown

6.18

2.40

+3.77

Martin ratioReturn relative to average drawdown

23.27

7.96

+15.31

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. VUKG.L - Sharpe Ratio Comparison

The current VAPX.L Sharpe Ratio is 4.11, which is higher than the VUKG.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of VAPX.L and VUKG.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.

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Sharpe Ratios by Period

VAPX.LVUKG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.11

1.95

+2.16

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.79

0.92

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.74

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.56

-0.02

Drawdowns

VAPX.L vs. VUKG.L - Drawdown Comparison

The maximum VAPX.L drawdown since its inception was -30.88%, smaller than the maximum VUKG.L drawdown of -34.32%. Use the drawdown chart below to compare losses from any high point for VAPX.L and VUKG.L.

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Drawdown Indicators

VAPX.LVUKG.LDifference

Max Drawdown

Largest peak-to-trough decline

-30.88%

-34.32%

+3.44%

Max Drawdown (1Y)

Largest decline over 1 year

-13.47%

-8.74%

-4.73%

Max Drawdown (3Y)

Largest decline over 3 years

-16.88%

-13.03%

-3.85%

Max Drawdown (5Y)

Largest decline over 5 years

-18.04%

-13.03%

-5.01%

Max Drawdown (10Y)

Largest decline over 10 years

-30.88%

—

—

Current Drawdown

Current decline from peak

-3.50%

-4.16%

+0.66%

Average Drawdown

Average peak-to-trough decline

-6.47%

-4.73%

-1.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.58%

2.64%

+0.94%

Volatility

VAPX.L vs. VUKG.L - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 10.22% compared to Vanguard FTSE 100 UCITS ETF (GBP) Accumulating (VUKG.L) at 3.86%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than VUKG.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.LVUKG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.22%

3.86%

+6.36%

Volatility (6M)

Calculated over the trailing 6-month period

17.90%

9.35%

+8.55%

Volatility (1Y)

Calculated over the trailing 1-year period

20.27%

10.74%

+9.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

12.75%

+3.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.39%

16.13%

+1.26%

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

VAPX.L has a 0.15% expense ratio, which is higher than VUKG.L's 0.09% 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. VUKG.L - Dividend Comparison

VAPX.L's dividend yield for the trailing twelve months is around 1.54%, while VUKG.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
VAPX.L
Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing		1.54%2.36%3.20%3.30%4.12%2.99%1.81%3.28%3.55%3.07%2.71%3.45%
VUKG.L
Vanguard FTSE 100 UCITS ETF (GBP) Accumulating		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VAPX.L and VUKG.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VUKG.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VUKG.L is cheaper with a 0.09% expense ratio, compared with 0.15% for VAPX.L.

VAPX.L is categorized as Asia Pacific Equities, while VUKG.L is Europe Equities. VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD, while VUKG.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.15% for VAPX.L and 0.09% for VUKG.L.

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