CJP.NEO vs. JAPN
CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and JAPN (Horizon Kinetics Japan Owner Operator ETF) are both Japan Equities funds. CJP.NEO is passively managed, while JAPN is actively managed. Over the past year, CJP.NEO returned 51.21% vs -15.64% for JAPN. At a 0.46 correlation, their price movements are largely independent. CJP.NEO charges 0.71%/yr vs 0.85%/yr for JAPN.
Performance
CJP.NEO vs. JAPN - Performance Comparison
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Different Trading Currencies
CJP.NEO is traded in CAD, while JAPN is traded in USD. To make them comparable, the JAPN values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CJP.NEO achieves a 19.29% return, which is significantly higher than JAPN's -12.23% return.
CJP.NEO
- 1D
- 0.46%
- 1M
- 9.32%
- YTD
- 19.29%
- 6M
- 23.23%
- 1Y
- 51.21%
- 3Y*
- 30.24%
- 5Y*
- 22.91%
- 10Y*
- 16.15%
JAPN
- 1D
- -1.34%
- 1M
- -1.05%
- YTD
- -12.23%
- 6M
- -13.35%
- 1Y
- -15.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CJP.NEO vs. JAPN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 19.29% | 27.84% |
JAPN Horizon Kinetics Japan Owner Operator ETF | -12.23% | 1.22% |
Correlation
The correlation between CJP.NEO and JAPN is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 14, 2025 | 0.46 |
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Return for Risk
CJP.NEO vs. JAPN — Risk / Return Rank
CJP.NEO
JAPN
CJP.NEO vs. JAPN - 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 Horizon Kinetics Japan Owner Operator ETF (JAPN). 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 | JAPN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.75 | ||
| Sortino ratioReturn per unit of downside risk | +4.95 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 0.87 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | -0.67 | +5.35 |
| Martin ratioReturn relative to average drawdown | 17.78 | -1.21 | +19.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CJP.NEO | JAPN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.89 | -0.86 | +3.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.56 | +1.01 |
Drawdowns
CJP.NEO vs. JAPN - Drawdown Comparison
The maximum CJP.NEO drawdown since its inception was -38.36%, which is greater than JAPN's maximum drawdown of -23.54%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and JAPN.
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Drawdown Indicators
| CJP.NEO | JAPN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -23.54% | -14.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -23.54% | +12.55% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -22.64% | +22.64% |
Average DrawdownAverage peak-to-trough decline | -11.17% | -9.60% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 12.92% | -10.02% |
Volatility
CJP.NEO vs. JAPN - Volatility Comparison
The current volatility for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) is 3.09%, while Horizon Kinetics Japan Owner Operator ETF (JAPN) has a volatility of 4.28%. This indicates that CJP.NEO experiences smaller price fluctuations and is considered to be less risky than JAPN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CJP.NEO | JAPN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 4.28% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 15.04% | -2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 18.34% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 18.91% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 18.91% | +0.70% |
CJP.NEO vs. JAPN - Expense Ratio Comparison
CJP.NEO has a 0.71% expense ratio, which is lower than JAPN's 0.85% expense ratio.
Dividends
CJP.NEO vs. JAPN - Dividend Comparison
CJP.NEO's dividend yield for the trailing twelve months is around 1.24%, more than JAPN's 0.28% 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% |
JAPN Horizon Kinetics Japan Owner Operator ETF | 0.28% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CJP.NEO and JAPN have a correlation of 0.46, 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 0.85% for JAPN.
They also come from different issuers: iShares and Horizon. Their fees differ too: 0.71% for CJP.NEO and 0.85% for JAPN.
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