VPADX vs. IPAC

Last updated Jun 4, 2026

VPADX (Vanguard Pacific Stock Index Fund Admiral Shares) and IPAC (iShares Core MSCI Pacific ETF) are both Asia Pacific Equities funds. Over the past 10 years, VPADX returned 10.84%/yr vs 9.13%/yr for IPAC. Their correlation of 0.94 suggests significant overlap in exposure. VPADX charges 0.10%/yr vs 0.09%/yr for IPAC.

Performance

VPADX vs. IPAC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Pacific Stock Index Fund Admiral Shares (VPADX) and iShares Core MSCI Pacific ETF (IPAC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VPADX achieves a 30.38% return, which is significantly higher than IPAC's 13.73% return. Over the past 10 years, VPADX has outperformed IPAC with an annualized return of 10.84%, while IPAC has yielded a comparatively lower 9.13% annualized return.

VPADX

• 1D: -0.18%
• 1M: 9.83%
• YTD: 30.38%
• 6M: 33.51%
• 1Y: 54.13%
• 3Y*: 23.36%
• 5Y*: 10.60%
• 10Y*: 10.84%

IPAC

• 1D: -0.11%
• 1M: 4.62%
• YTD: 13.73%
• 6M: 15.39%
• 1Y: 28.03%
• 3Y*: 17.03%
• 5Y*: 7.65%
• 10Y*: 9.13%

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

VPADX vs. IPAC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VPADX Vanguard Pacific Stock Index Fund Admiral Shares	30.38%	33.15%	1.24%	15.55%	-15.24%	1.46%	16.56%	17.57%	-13.92%	28.62%
IPAC iShares Core MSCI Pacific ETF	13.73%	25.16%	6.18%	14.51%	-13.68%	3.09%	12.39%	19.44%	-12.78%	25.97%

Correlation

The correlation between VPADX and IPAC is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014	0.94

The correlation between VPADX and IPAC has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

VPADX vs. IPAC - Sectors Allocation Comparison

Sectors	VPADX	IPAC
Technology	22.6%	12.9%
Industrials	20.5%	21.3%
Financial Services	19.3%	22.9%
Consumer Cyclical	9.6%	10.8%
Basic Materials	7.3%	8.2%
Healthcare	5.0%	5.3%
Communication Services	4.8%	5.7%
Real Estate	4.3%	5.5%
Consumer Defensive	3.5%	4.0%
Energy	1.6%	1.8%
Utilities	1.6%	1.9%

Return for Risk

VPADX vs. IPAC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VPADX

VPADX Risk / Return Rank: 82
VPADX Sharpe Ratio Rank: 88
VPADX Sortino Ratio Rank: 78
VPADX Omega Ratio Rank: 79
VPADX Calmar Ratio Rank: 84
VPADX Martin Ratio Rank: 81

IPAC

IPAC Risk / Return Rank: 50
IPAC Sharpe Ratio Rank: 49
IPAC Sortino Ratio Rank: 50
IPAC Omega Ratio Rank: 50
IPAC Calmar Ratio Rank: 49
IPAC Martin Ratio Rank: 52

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.

VPADX vs. IPAC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Pacific Stock Index Fund Admiral Shares (VPADX) and iShares Core MSCI Pacific ETF (IPAC). 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.

	VPADX	IPAC	Difference
Sharpe ratio Return per unit of total volatility	2.88	1.72	+1.16
Sortino ratio Return per unit of downside risk	3.69	2.45	+1.24
Omega ratio Gain probability vs. loss probability	1.52	1.32	+0.20
Calmar ratio Return relative to maximum drawdown	3.96	2.45	+1.51
Martin ratio Return relative to average drawdown	15.37	8.83	+6.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPADX vs. IPAC - Sharpe Ratio Comparison

The current VPADX Sharpe Ratio is 2.88, which is higher than the IPAC Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of VPADX and IPAC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VPADX	IPAC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	1.72	+1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.46	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	0.55	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.45	-0.07

Drawdowns

VPADX vs. IPAC - Drawdown Comparison

The maximum VPADX drawdown since its inception was -55.28%, which is greater than IPAC's maximum drawdown of -30.99%. Use the drawdown chart below to compare losses from any high point for VPADX and IPAC.

Drawdown Indicators

	VPADX	IPAC	Difference
Max Drawdown Largest peak-to-trough decline	-55.28%	-30.99%	-24.29%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-11.49%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	-15.45%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	-29.64%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	-33.67%	-30.99%	-2.68%
Current Drawdown Current decline from peak	-0.18%	-0.56%	+0.38%
Average Drawdown Average peak-to-trough decline	-11.75%	-7.48%	-4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	3.18%	+0.27%

Volatility

VPADX vs. IPAC - Volatility Comparison

Vanguard Pacific Stock Index Fund Admiral Shares (VPADX) has a higher volatility of 6.40% compared to iShares Core MSCI Pacific ETF (IPAC) at 4.00%. This indicates that VPADX's price experiences larger fluctuations and is considered to be riskier than IPAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VPADX	IPAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	4.00%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	15.11%	13.09%	+2.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	16.41%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	16.62%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	16.58%	-0.34%

VPADX vs. IPAC - Expense Ratio Comparison

VPADX has a 0.10% expense ratio, which is higher than IPAC'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

VPADX vs. IPAC - Dividend Comparison

VPADX's dividend yield for the trailing twelve months is around 2.71%, less than IPAC's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPAC iShares Core MSCI Pacific ETF	3.80%	4.32%	3.43%	3.16%	2.76%	4.03%	1.68%	3.37%	2.95%	2.98%	2.66%	2.60%
VPADX Vanguard Pacific Stock Index Fund Admiral Shares	2.71%	3.99%	3.13%	3.09%	2.73%	3.15%	1.79%	2.83%	3.03%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both VPADX and IPAC in my portfolio?

VPADX and IPAC have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VPADX or IPAC?

VPADX has higher volatility (6.40%) compared to IPAC (4.00%). In terms of maximum drawdown, VPADX dropped -55.28% vs IPAC's -30.99%.

Which has better risk-adjusted returns?

VPADX currently has the higher Sharpe Ratio (2.88 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.