WINC.AS vs. IAPD.AS

Last updated Jun 26, 2026

WINC.AS (iShares World Equity High Income UCITS ETF USD Inc) and IAPD.AS (iShares Asia Pacific Dividend UCITS ETF) are both exchange-traded funds - WINC.AS is a Global Equity Income fund actively managed by iShares, while IAPD.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD. WINC.AS is actively managed, while IAPD.AS is passively managed. Over the past year, WINC.AS returned 22.24% vs 18.34% for IAPD.AS. At a 0.40 correlation, their price movements are largely independent. WINC.AS charges 0.35%/yr vs 0.59%/yr for IAPD.AS.

Performance

WINC.AS vs. IAPD.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WINC.AS is traded in USD, while IAPD.AS is traded in EUR. To make them comparable, the IAPD.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, WINC.AS achieves a 7.73% return, which is significantly higher than IAPD.AS's 0.30% return.

WINC.AS

• 1D: 0.00%
• 1M: -0.75%
• YTD: 7.73%
• 6M: 8.33%
• 1Y: 22.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IAPD.AS

• 1D: 0.12%
• 1M: 1.24%
• YTD: 0.30%
• 6M: 0.03%
• 1Y: 18.34%
• 3Y*: 15.60%
• 5Y*: 7.57%
• 10Y*: 5.71%

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

WINC.AS vs. IAPD.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WINC.AS iShares World Equity High Income UCITS ETF USD Inc	7.73%	21.56%	8.10%
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	0.30%	28.67%	3.80%

Correlation

The correlation between WINC.AS and IAPD.AS 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 (All Time) Calculated using the full available price history since Apr 2, 2024	0.40

Return for Risk

WINC.AS vs. IAPD.AS — Risk / Return Rank

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

WINC.AS

WINC.AS Risk / Return Rank: 76
WINC.AS Sharpe Ratio Rank: 74
WINC.AS Sortino Ratio Rank: 81
WINC.AS Omega Ratio Rank: 72
WINC.AS Calmar Ratio Rank: 73
WINC.AS Martin Ratio Rank: 80

IAPD.AS

IAPD.AS Risk / Return Rank: 97
IAPD.AS Sharpe Ratio Rank: 95
IAPD.AS Sortino Ratio Rank: 97
IAPD.AS Omega Ratio Rank: 98
IAPD.AS Calmar Ratio Rank: 95
IAPD.AS Martin Ratio Rank: 97

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.

WINC.AS vs. IAPD.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). 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.

	WINC.AS	IAPD.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.49	-0.45
Sortino ratio: Return per unit of downside risk	3.13	3.88	-0.76
Omega ratio: Gain probability vs. loss probability	1.37	1.48	-0.11
Calmar ratio: Return relative to maximum drawdown	3.24	4.06	-0.82
Martin ratio: Return relative to average drawdown	13.46	10.13	+3.32

WINC.AS vs. IAPD.AS - Sharpe Ratio Comparison

The current WINC.AS Sharpe Ratio is 2.03, which is comparable to the IAPD.AS Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of WINC.AS and IAPD.AS, 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

WINC.AS vs. IAPD.AS - Drawdown Comparison

The maximum WINC.AS drawdown since its inception was -14.81%, smaller than the maximum IAPD.AS drawdown of -80.07%. Use the drawdown chart below to compare losses from any high point for WINC.AS and IAPD.AS.

Drawdown Indicators

	WINC.AS	IAPD.AS	Difference
Max Drawdown Largest peak-to-trough decline	-14.81%	-80.07%	+65.26%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-5.19%	-1.58%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.81%	—
Current Drawdown Current decline from peak	-1.71%	-8.58%	+6.87%
Average Drawdown Average peak-to-trough decline	-1.47%	-40.17%	+38.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	2.08%	-0.44%

Volatility

WINC.AS vs. IAPD.AS - Volatility Comparison

iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) has a higher volatility of 3.64% compared to iShares Asia Pacific Dividend UCITS ETF (IAPD.AS) at 2.71%. This indicates that WINC.AS's price experiences larger fluctuations and is considered to be riskier than IAPD.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WINC.AS	IAPD.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.64%	2.71%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	5.01%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	8.53%	+2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	14.07%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.61%	16.36%	-3.75%

WINC.AS vs. IAPD.AS - Expense Ratio Comparison

WINC.AS has a 0.35% expense ratio, which is lower than IAPD.AS's 0.59% expense ratio.

Dividends

WINC.AS vs. IAPD.AS - Dividend Comparison

WINC.AS's dividend yield for the trailing twelve months is around 9.74%, more than IAPD.AS's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAPD.AS iShares Asia Pacific Dividend UCITS ETF	4.75%	4.31%	5.20%	5.83%	7.01%	5.42%	3.68%	5.52%	5.93%	4.78%	4.40%	5.39%
WINC.AS iShares World Equity High Income UCITS ETF USD Inc	9.74%	9.38%	4.88%	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 WINC.AS and IAPD.AS in my portfolio?

WINC.AS and IAPD.AS 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.

Which ETF is better, WINC.AS or IAPD.AS?

On fees, WINC.AS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WINC.AS or IAPD.AS?

WINC.AS is cheaper with a 0.35% expense ratio, compared with 0.59% for IAPD.AS.

What is the main difference between WINC.AS and IAPD.AS?

WINC.AS is categorized as Global Equity Income, while IAPD.AS is Asia Pacific Equities. Their fees differ too: 0.35% for WINC.AS and 0.59% for IAPD.AS.