CJP.NEO vs. CWO.NEO
CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and CWO.NEO (iShares Emerging Markets Fundamental Index ETF) are both exchange-traded funds - CJP.NEO is a Japan Equities fund tracking the FTSE RAFI Japan Canadian Dollar Hedged Index, while CWO.NEO is a Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index. Both are passively managed. Over the past 10 years, CJP.NEO returned 15.86%/yr vs 11.24%/yr for CWO.NEO. At a 0.38 correlation, their price movements are largely independent. CJP.NEO charges 0.71%/yr vs 0.73%/yr for CWO.NEO.
Performance
CJP.NEO vs. CWO.NEO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CJP.NEO achieves a 19.29% return, which is significantly higher than CWO.NEO's 13.27% return. Over the past 10 years, CJP.NEO has outperformed CWO.NEO with an annualized return of 15.86%, while CWO.NEO has yielded a comparatively lower 11.24% annualized return.
CJP.NEO
- 1D
- 0.00%
- 1M
- 7.91%
- YTD
- 19.29%
- 6M
- 21.96%
- 1Y
- 53.24%
- 3Y*
- 30.45%
- 5Y*
- 22.91%
- 10Y*
- 15.86%
CWO.NEO
- 1D
- -0.47%
- 1M
- 2.68%
- YTD
- 13.27%
- 6M
- 12.25%
- 1Y
- 33.89%
- 3Y*
- 22.83%
- 5Y*
- 11.44%
- 10Y*
- 11.24%
CJP.NEO vs. CWO.NEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 19.29% | 30.67% | 26.74% | 35.03% | 3.67% | 18.19% | 0.18% | 13.12% | -17.35% | 21.33% |
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 13.27% | 26.34% | 22.33% | 9.56% | -9.03% | 7.13% | -3.12% | 10.86% | -0.29% | 17.16% |
Correlation
The correlation between CJP.NEO and CWO.NEO is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2009 | 0.38 |
The correlation between CJP.NEO and CWO.NEO shifts across timeframes, from 0.27 (5 years) to 0.42 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CJP.NEO vs. CWO.NEO — Risk / Return Rank
CJP.NEO
CWO.NEO
CJP.NEO vs. CWO.NEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) and iShares Emerging Markets Fundamental Index ETF (CWO.NEO). 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.
| CJP.NEO | CWO.NEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.41 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 3.12 | +1.74 |
| Martin ratioReturn relative to average drawdown | 18.49 | 11.86 | +6.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CJP.NEO | CWO.NEO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.02 | 2.20 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 0.69 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.81 | 0.64 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.45 | 0.00 |
Drawdowns
CJP.NEO vs. CWO.NEO - Drawdown Comparison
The maximum CJP.NEO drawdown since its inception was -38.36%, which is greater than CWO.NEO's maximum drawdown of -31.99%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and CWO.NEO.
Loading charts...
Drawdown Indicators
| CJP.NEO | CWO.NEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -31.99% | -6.37% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -10.90% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -17.12% | -3.74% |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | -24.80% | +3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -37.75% | -31.97% | -5.78% |
Current DrawdownCurrent decline from peak | 0.00% | -1.89% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -11.16% | -10.28% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 2.86% | +0.03% |
Volatility
CJP.NEO vs. CWO.NEO - Volatility Comparison
The current volatility for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) is 2.97%, while iShares Emerging Markets Fundamental Index ETF (CWO.NEO) has a volatility of 5.38%. This indicates that CJP.NEO experiences smaller price fluctuations and is considered to be less risky than CWO.NEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CJP.NEO | CWO.NEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 5.38% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.94% | 12.46% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 15.50% | +2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 16.64% | +1.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.60% | 17.51% | +2.09% |
CJP.NEO vs. CWO.NEO - Expense Ratio Comparison
CJP.NEO has a 0.71% expense ratio, which is lower than CWO.NEO's 0.73% expense ratio.
Dividends
CJP.NEO vs. CWO.NEO - Dividend Comparison
CJP.NEO's dividend yield for the trailing twelve months is around 1.24%, less than CWO.NEO's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.24% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
CWO.NEO iShares Emerging Markets Fundamental Index ETF | 2.46% | 2.79% | 3.50% | 4.14% | 5.03% | 4.61% | 2.64% | 3.01% | 3.22% | 2.60% | 2.57% | 3.23% |
Frequently Asked Questions
CJP.NEO and CWO.NEO have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CJP.NEO is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CJP.NEO is cheaper with a 0.71% expense ratio, compared with 0.73% for CWO.NEO.
CJP.NEO is categorized as Japan Equities, while CWO.NEO is Emerging Markets Equities. CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index, while CWO.NEO tracks FTSE RAFI Emerging Markets Index. Their fees differ too: 0.71% for CJP.NEO and 0.73% for CWO.NEO.
Find the right allocation for CJP.NEO and CWO.NEO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer