VAPX.L vs. XMTW.L

Last updated Jun 25, 2026

VAPX.L (Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing) and XMTW.L (Xtrackers MSCI Taiwan UCITS ETF 1C) are both Asia Pacific Equities funds - VAPX.L tracks the MSCI AC Asia Pac Ex JPN NR USD while XMTW.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 10 years, VAPX.L returned 12.84%/yr vs 22.84%/yr for XMTW.L. A 0.71 correlation means they provide meaningful diversification when combined. VAPX.L charges 0.15%/yr vs 0.65%/yr for XMTW.L.

Performance

VAPX.L vs. XMTW.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 Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VAPX.L is traded in GBP, while XMTW.L is traded in GBp. To make them comparable, the XMTW.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 49.68% return, which is significantly lower than XMTW.L's 69.61% return. Over the past 10 years, VAPX.L has underperformed XMTW.L with an annualized return of 12.84%, while XMTW.L has yielded a comparatively higher 22.84% annualized return.

VAPX.L

• 1D: 1.35%
• 1M: 6.32%
• YTD: 49.68%
• 6M: 51.93%
• 1Y: 79.09%
• 3Y*: 26.72%
• 5Y*: 12.97%
• 10Y*: 12.84%

XMTW.L

• 1D: -0.80%
• 1M: 9.80%
• YTD: 69.61%
• 6M: 73.58%
• 1Y: 109.68%
• 3Y*: 42.41%
• 5Y*: 23.09%
• 10Y*: 22.84%

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

VAPX.L vs. XMTW.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	49.68%	31.34%	-3.50%	3.89%	-1.65%	1.83%	15.31%	12.85%	-9.57%	20.38%
XMTW.L Xtrackers MSCI Taiwan UCITS ETF 1C	69.61%	23.98%	25.99%	21.66%	-21.11%	28.96%	32.40%	29.87%	-3.20%	16.17%

Correlation

The correlation between VAPX.L and XMTW.L is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 21, 2013	0.71

The correlation between VAPX.L and XMTW.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

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

Sectors	VAPX.L	XMTW.L
Technology	39.9%	78.9%
Financial Services	21.4%	11.8%
Industrials	10.4%	2.8%
Basic Materials	8.9%	2.4%
Consumer Cyclical	5.2%	1.2%
Real Estate	4.2%	-
Healthcare	2.6%	0.6%
Consumer Defensive	2.1%	0.8%
Communication Services	2.0%	1.5%
Energy	1.8%	-
Utilities	1.6%	-

Return for Risk

VAPX.L vs. XMTW.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: 93
VAPX.L Sharpe Ratio Rank: 95
VAPX.L Sortino Ratio Rank: 92
VAPX.L Omega Ratio Rank: 94
VAPX.L Calmar Ratio Rank: 93
VAPX.L Martin Ratio Rank: 92

XMTW.L

XMTW.L Risk / Return Rank: 97
XMTW.L Sharpe Ratio Rank: 98
XMTW.L Sortino Ratio Rank: 96
XMTW.L Omega Ratio Rank: 96
XMTW.L Calmar Ratio Rank: 98
XMTW.L Martin Ratio Rank: 96

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. XMTW.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 Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.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	XMTW.L	Difference
Sharpe ratio: Return per unit of total volatility	3.41	4.51	-1.11
Sortino ratio: Return per unit of downside risk	3.94	5.06	-1.12
Omega ratio: Gain probability vs. loss probability	1.63	1.72	-0.10
Calmar ratio: Return relative to maximum drawdown	5.87	12.05	-6.18
Martin ratio: Return relative to average drawdown	20.46	31.90	-11.44

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

The current VAPX.L Sharpe Ratio is 3.41, which is comparable to the XMTW.L Sharpe Ratio of 4.51. The chart below compares the historical Sharpe Ratios of VAPX.L and XMTW.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.

Drawdowns

VAPX.L vs. XMTW.L - Drawdown Comparison

The maximum VAPX.L drawdown since its inception was -30.88%, smaller than the maximum XMTW.L drawdown of -99.22%. Use the drawdown chart below to compare losses from any high point for VAPX.L and XMTW.L.

Drawdown Indicators

	VAPX.L	XMTW.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.88%	-99.22%	+68.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-9.05%	-4.36%
Max Drawdown (3Y) Largest decline over 3 years	-16.81%	-28.76%	+11.95%
Max Drawdown (5Y) Largest decline over 5 years	-17.55%	-30.18%	+12.63%
Max Drawdown (10Y) Largest decline over 10 years	-30.88%	-30.18%	-0.70%
Current Drawdown Current decline from peak	-5.87%	-5.86%	-0.01%
Average Drawdown Average peak-to-trough decline	-6.30%	-22.20%	+15.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	3.43%	+0.42%

Volatility

VAPX.L vs. XMTW.L - Volatility Comparison

Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing (VAPX.L) has a higher volatility of 12.74% compared to Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L) at 10.63%. This indicates that VAPX.L's price experiences larger fluctuations and is considered to be riskier than XMTW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAPX.L	XMTW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.74%	10.63%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	21.18%	20.19%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	24.25%	-1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	24.89%	-8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.70%	22.35%	-4.65%

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

VAPX.L has a 0.15% expense ratio, which is lower than XMTW.L's 0.65% expense ratio.

Dividends

VAPX.L vs. XMTW.L - Dividend Comparison

VAPX.L's dividend yield for the trailing twelve months is around 1.85%, while XMTW.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAPX.L Vanguard FTSE Developed Asia Pacific ex Japan UCITS ETF Distributing	1.85%	2.70%	3.47%	3.53%	4.32%	3.51%	2.08%	3.39%	3.52%	3.10%	2.71%	3.49%
XMTW.L Xtrackers MSCI Taiwan UCITS ETF 1C	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

Can I hold both VAPX.L and XMTW.L in my portfolio?

VAPX.L and XMTW.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAPX.L or XMTW.L?

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.

Which ETF is cheaper, VAPX.L or XMTW.L?

VAPX.L is cheaper with a 0.15% expense ratio, compared with 0.65% for XMTW.L.

What is the main difference between VAPX.L and XMTW.L?

VAPX.L tracks MSCI AC Asia Pac Ex JPN NR USD, while XMTW.L tracks MSCI Taiwan NR USD. They also come from different issuers: Vanguard and Xtrackers. Their fees differ too: 0.15% for VAPX.L and 0.65% for XMTW.L.