Asia-Pacific ETF Question

Could someone explain why these similar funds are far apart on growth this year?

Vanguard FTSE Asia ex Japan Index ETF (-2.5%)

Vanguard Pacific ex-Japan Stock Index Fund GBP (+5.25%)

The funds track different countries. Asia has China, Korea, India etc. Pacific has Australia, New Zealand etc.


Sorry I have written the incorrect top fund. The same question applies:

Vanguard ftse developed Asia Pacific ex japan ETF

Vanguard Pacific ex japan index

As @saf suggested, it purely depends on what these funds consist of.

For example, Vanguard FTSE Developed Asia Pacific excl. Japan predominantly consists of Australian (42%), Korean (25%) and Hong Kong (23%) stocks whereas Vanguard Pacific excl. Japan is Australian (57%), Hong Kong (31%) and Singaporean (10%).

This discrepancy by countries, as well as by sectors, leads to slightly different stocks (and weightings) being held in these funds, which directly impact their performance.