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XBAK
+0.20 · +12.00%
£1.84 · LSE
Xtrackers MSCI Pakistan Swap UCITS ETF 1C USD | Other Equity
DWS Investment S.A. (ETF) · Luxembourg
AUM:$23.1M
#– of – in Other Equity ETFs
ℹ️
Reward Rating
43
Moderate
0.00% 1Y return
ℹ️
Risk Rating
69
Elevated
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

XBAK returned +0.0% over the past year, broadly in line with flat market conditions.

Cost Efficiency

⚠️ Ongoing charge of 2.25% — above average for this category.

What is XBAK?

The aim is for your investment to reflect the performance of the MSCI Pakistan Investable Market Total Return Net Index (Index) which is designed to reflect the performance of the listed shares of certain companies from Pakistan. The companies making up the Index are large, medium and small sized companies based on the combined value of a company?

Performance Highlights

Investment Breakdown

Modest 1-Year Return
XBAK returned 0.0% over the past year.
Higher Cost Profile
Ongoing charge of 2.25% is above average. Verify whether the strategy justifies the cost.
Moderate Concentration
Top 10 holdings make up 43.0% of the ETF — a moderate level of name concentration.

Openbook Analysis

Performance: Moderate (43)

The scoring profile reflects subdued historical performance over the measured period. The ongoing charge of 2.25% should be considered against long-term return expectations. Risk indicators are elevated — volatility warrants consideration (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM$23.1M
Ongoing Charge2.25%
Dividend Yield0.00%
Holdings32
Inception DateSept 2011
DomicileLuxembourg
DistributionNA
Index–
ProviderDWS Investment S.A. (ETF)
Beta–
CategoryOther Equity
CurrencyUSD
Portfolio Impact

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6168
+7 points · better diversified
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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+0.8%
1Y
+37.4%
3Y
+207.7%
5Y
+49.8%
OpenBook InsightIf you had invested £10,000 in XBAK 5 years ago, it would have grown to £14,983 — a gain of £4,983.

Annual Returns

Calendar year performance

XBAK delivered positive returns in 3 of the last 5 calendar years.
YearXBAK
2026 YTD-4.5%
2025+35.0%
2024+64.6%
2023+18.2%
2022-31.6%
CAGR 4yr+15.8%
3/5 positive yearsAvg return: +16.3%Worst year: -31.6% (2022)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: POSITIVE
Trend Strength
100%
Positive
Volatility
30.4%
High
Momentum
+0.6%
30-day change
Support Level
1.64
Key floor
Key Insights
  • Price is currently trading above all key moving averages.
  • Price is consolidating, with low momentum over the recent period.
  • Monitor key support and resistance levels as part of broader risk assessment.

Reward Rating Breakdown

Our reward rating analyses XBAK's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
43
Moderate REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
39/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
0.00%
Very Weak
3Y Return
18.23%
Very Good
5Y Return
-2.89%
Very Weak
10Y Return
-5.12%
Very Weak
Sharpe Ratio
—
No Data

Weak historical performance: 1-year return of 0.00%, 3-year annualised 18.23%, 5-year annualised -2.89%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
68/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
2.25%
Very Weak
Net Expense Ratio
0.01%
Very Good
Annual Turnover
0.00%
Very Good
Tracking Difference
—
No Data

Reasonable cost profile: ongoing charge of 2.25%, net expense ratio of 0.01%, annual turnover of 0.0%.

💵 Income

Weight: 15%
15/100

Does the ETF provide attractive and consistent distributions? Combines the current yield with distribution frequency.

Distribution Yield
0.00%
Very Weak
Distribution Frequency
NA
No Data

Low-income profile — better suited as a growth holding: distribution yield of 0.00%, na distributions.

🌐 Diversification Quality

Weight: 25%
36/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
32
Very Weak
Top 10 Concentration
42.98%
Weak
Top Sector
Basic Materials30.7%
Weak
Top Region
Asia Emerging100.0%
Very Weak

Heavily concentrated — returns will be driven by a narrow slice of the market: 32 holdings, top 10 at 43.0%, Basic Materials sector at 30.7%, Asia Emerging at 100.0%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses XBAK using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
69
Elevated RISK
Data Coverage: 75%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
48/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
42.98%
Moderate
Largest Holding
5.21%
Lower Risk
Number of Holdings
32
Elevated
HHI (weight²)
186
Low Risk

Reasonable spread across positions: top 10 holdings at 43.0%, largest single position at 5.21%, 32 total holdings.

🌍 Market Exposure

Weight: 25%
86/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
Asia Emerging100.0%
High Risk
Top Sector
Basic Materials30.7%
Elevated
Top 2 Sectors
58.83%
Elevated
Cyclical Sectors
78.34%
High Risk

High market-exposure risk — returns closely track a narrow slice of the market: Asia Emerging at 100.0%, Basic Materials sector at 30.7%, 78.3% in cyclical sectors.

📊 Volatility

Weight: 35%
72/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
20.59%
Moderate
Beta
—
No Data
Max Drawdown
—
No Data

High historical volatility — expect meaningful short-term swings: 1Y volatility of 20.59% (historical).

💵 Income Reliability

Weight: 15%
Not applicable

This is an accumulating ETF. Distributions are reinvested inside the fund, so there's no dividend-reliability risk to assess. The 15% income weight is redistributed to the other three factors.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
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