IPAC's largest holdings are Mitsubishi UFJ Financial Group Inc., BHP Group Ltd., Advantest Corp, Commonwealth Bank of Australia, Tokyo Electron Ltd. The full top list is on this page.

How concentrated is IPAC?

The top 10 holdings are 18.8% of the fund, across 1,349 positions.

The total expense ratio on record is 0.09%. That is cheaper than 93% of the 2,580 US-listed equity funds we track.

Which sectors dominate IPAC?

By weight of its equity holdings: Financial Services 23.0%, Industrials 20.0%, Technology 13.7%.

What is IPAC's P/E ratio?

Computed from company annual reports and filed position values, IPAC's weighted price-to-earnings ratio is 20.0, covering 16% of the fund by weight. The weighted price-to-book ratio is 1.33.

US-listed · United States

IPAC

The Fund seeks to track the investment results of an index composed of large-, mid- and small-capitalization Pacific region equities.

iShares Core MSCI Pacific ETF

US46434V6965 · 01D8 · BlackRock (iShares)

1,349 holdings as of 2026-10-12 · top 10 = 18.8% · TER 0.09% · P/E 20.0

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Concentration

Well diversifiedtop 10 = 18.8%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

1,349

as of 2026-10-12

Top 10

18.8%

TER

0.09%

cheaper than 93% of peers

Net assets

US$2.74B

reported in USD

Largest

2.5%

P / E

20.0

covers 16% by weight

Sections

Holdings as of 2026-10-12.

01Overview

the fund's regulatory facts

Fund currency

USD

Domicile

United States

Volatility 1Y

17.9%

Tracked index

MSCI Pacific IMI Index (Net)

How it tracks

Index, sampling

Lends its stock

Yes

02Valuation and performance

market price return · as of 2026-10-16

-1.6%

+3.1%

+2.1%

YTD

+14.2%

+13.2%

Trackingfund minus MSCI Pacific IMI Index (Net) · annualised

1Y return gap

-0.30 pp/yr

3Y return gap

+0.01 pp/yr

5Y return gap

+0.08 pp/yr

3Y tracking error

3.66%

A positive return gap means the fund finished ahead of the index over that window. The 3Y tracking error shows how variable that monthly gap was; lower means steadier tracking. MethodologyReturn gap and tracking errorReturn gap is the fund's return minus its index over the same months, converted to a yearly rate. Tracking error is the annualised standard deviation of those monthly fund-minus-index returns. Both lines come from the manager's own chart, in the same currency and the exact index variant the fund tracks. We use month-end values so different intraday valuation times are not mistaken for tracking error.. Not investment advice.

Valuation150 companies covered · weighted, profitable holdings only

20.0

price / earnings

3.7%

covers 18% by weight

1.33

price / book

covers 18% by weight

Computed from company filings and reported position values. MethodologyPortfolio valuationComputed by us from each company's own financial statements and the position values funds report, currency-adjusted and weighted harmonically. P/E covers profitable holdings only. Book value uses the most recent reported quarter.. Not investment advice.

03Holdings

50 largest · as of 2026-10-12

#	Company	Identifier	Weight
1	Mitsubishi UFJ Financial Group Inc. JP	8306	2.5
2	BHP Group Ltd. AU	BHP	2.4
3	Advantest Corp JP	6857	2.0
4	Commonwealth Bank of Australia AU	CBA	1.9
5	Tokyo Electron Ltd JP	8035	1.9
6	Toyota Motor Corp. JP	7203	1.9
7	Hitachi Ltd JP	6501	1.7
8	Sumitomo Mitsui Financial Group Inc. JP	8316	1.6
9	Recruit Holdings Co Ltd JP	6098	1.6
10	Sony Group Corp. JP	6758	1.5
11	SoftBank Group Corp JP	9984	1.4
12	Kioxia Holdings Corp. JP	285A	1.4
13	Mizuho Financial Group Inc. JP	8411	1.3
14	DBS GROUP HOLDINGS LTD SG	D05	1.3
15	Keyence Corp JP	6861	1.0
16	AIA Group Ltd HK	1299	1.0
17	Tokio Marine Holdings Inc JP	8766	0.9
18	Mitsubishi Corp JP	8058	0.9
19	National Australia Bank Ltd AU	NAB	0.9
20	Fast Retailing Co Ltd JP	9983	0.9
21	Westpac Banking Corp AU	WBC	0.9
22	Murata Manufacturing Co Ltd JP	6981	0.9
23	ANZ Group Holdings Ltd AU	ANZ	0.8
24	ITOCHU Corp JP	8001	0.8
25	Oversea-Chinese Banking Corp Ltd SG	OCBC	0.8
26	Mitsubishi Heavy Industries Ltd JP	7011	0.8
27	Mitsui & Co Ltd JP	8031	0.8
28	Panasonic Holdings Corp JP	6752	0.7
29	Macquarie Group Ltd AU	MQG	0.7
30	Shin-Etsu Chemical Co Ltd JP	4063	0.7
31	Mitsubishi Electric Corp JP	6503	0.7
32	CSL Ltd AU	CSL	0.7
33	Wesfarmers Ltd AU	WES	0.7
34	Takeda Pharmaceutical Co Ltd. JP	4502	0.6
35	Nintendo Co Ltd JP	7974	0.6
36	Hoya Corp JP	7741	0.6
37	KDDI Corp JP	9433	0.6
38	Fujikura Ltd JP	5803	0.6
39	Japan Tobacco Inc JP	2914	0.5
40	JPY CASH JP	JPY	0.5
41	Hong Kong Exchanges & Clearing Ltd HK	388	0.5
42	Fujitsu Ltd JP	6702	0.5
43	SoftBank Corp JP	9434	0.5
44	Sumitomo Corp JP	8053	0.5
45	Rio Tinto Ltd AU	RIO	0.5
46	Woodside Energy Group Ltd AU	WDS	0.5
47	Sumitomo Electric Industries Ltd JP	5802	0.5
48	Marubeni Corp JP	8002	0.4
49	NEC Corp JP	6701	0.4
50	ORIX Corp. JP	8591	0.4

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04Exposure

Equity 99.2%Cash 0.8%

By sector

Financial Services23.0%

Industrials20.0%

Technology13.7%

Consumer Cyclical12.0%

Materials8.5%

Healthcare4.9%

Communication Services4.7%

Real Estate4.2%

Consumer Defensive4.2%

Utilities1.7%

Energy1.6%

By country

JPJapan70.8%

AUAustralia18.9%

SGSingapore5.0%

HKHong Kong4.4%

NZNew Zealand0.6%

KYCayman Islands0.1%

MOMO0.1%

USUnited States0.1%

CurrencyJPY 70.8% AUD 18.9% SGD 5.0% HKD 4.4% NZD 0.6%

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