CJP.NEO vs. SCJ
CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and SCJ (iShares MSCI Japan Small Cap ETF) are both Japan Equities funds from iShares - CJP.NEO tracks the FTSE RAFI Japan Canadian Dollar Hedged Index while SCJ tracks the MSCI Japan Small Cap Index. Both are passively managed. Over the past 10 years, CJP.NEO returned 17.24%/yr vs 8.96%/yr for SCJ. At a 0.47 correlation, their price movements are largely independent. CJP.NEO charges 0.71%/yr vs 0.49%/yr for SCJ.
Performance
CJP.NEO vs. SCJ - Performance Comparison
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Different Trading Currencies
CJP.NEO is traded in CAD, while SCJ is traded in USD. To make them comparable, the SCJ values have been converted to CAD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with CJP.NEO having a 21.65% return and SCJ slightly higher at 22.40%. Over the past 10 years, CJP.NEO has outperformed SCJ with an annualized return of 17.24%, while SCJ has yielded a comparatively lower 8.96% annualized return.
CJP.NEO
- 1D
- 2.10%
- 1M
- 1.98%
- 6M
- 20.76%
- YTD
- 21.65%
- 1Y
- 51.49%
- 3Y*
- 28.99%
- 5Y*
- 23.76%
- 10Y*
- 17.24%
SCJ
- 1D
- 0.20%
- 1M
- 5.88%
- 6M
- 21.62%
- YTD
- 22.40%
- 1Y
- 36.68%
- 3Y*
- 21.64%
- 5Y*
- 11.11%
- 10Y*
- 8.96%
CJP.NEO vs. SCJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 21.65% | 30.67% | 26.74% | 35.03% | 3.67% | 18.19% | 0.18% | 13.12% | -17.35% | 21.33% |
SCJ iShares MSCI Japan Small Cap ETF | 22.40% | 23.67% | 12.17% | 10.53% | -7.22% | -2.99% | 4.91% | 11.38% | -10.21% | 22.70% |
Correlation
The correlation between CJP.NEO and SCJ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009 | 0.47 |
The correlation between CJP.NEO and SCJ shifts across timeframes, from 0.47 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CJP.NEO vs. SCJ — Risk / Return Rank
CJP.NEO
SCJ
CJP.NEO vs. SCJ - 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 MSCI Japan Small Cap ETF (SCJ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CJP.NEO | SCJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.37 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.73 | 3.04 | +1.69 |
| Martin ratioReturn relative to average drawdown | 17.45 | 10.66 | +6.80 |
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Drawdowns
CJP.NEO vs. SCJ - Drawdown Comparison
The maximum CJP.NEO drawdown since its inception was -38.36%, which is greater than SCJ's maximum drawdown of -34.48%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and SCJ.
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Drawdown Indicators
| CJP.NEO | SCJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -34.48% | -3.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -11.78% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -12.79% | -8.07% |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | -28.60% | +7.74% |
Max Drawdown (10Y)Largest decline over 10 years | -37.75% | -32.42% | -5.33% |
Current DrawdownCurrent decline from peak | -0.35% | 0.00% | -0.35% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -7.91% | -3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 3.36% | -0.39% |
Volatility
CJP.NEO vs. SCJ - Volatility Comparison
iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) has a higher volatility of 7.36% compared to iShares MSCI Japan Small Cap ETF (SCJ) at 4.93%. This indicates that CJP.NEO's price experiences larger fluctuations and is considered to be riskier than SCJ 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 | SCJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.36% | 4.93% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 13.91% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.97% | 16.83% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 17.05% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.37% | 17.49% | +1.88% |
CJP.NEO vs. SCJ - Expense Ratio Comparison
CJP.NEO has a 0.71% expense ratio, which is higher than SCJ's 0.49% expense ratio.
Dividends
CJP.NEO vs. SCJ - Dividend Comparison
CJP.NEO's dividend yield for the trailing twelve months is around 1.15%, less than SCJ's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.15% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
SCJ iShares MSCI Japan Small Cap ETF | 2.72% | 3.14% | 1.79% | 1.99% | 1.18% | 1.87% | 0.89% | 1.85% | 1.44% | 1.45% | 2.73% | 1.53% |
Frequently Asked Questions
CJP.NEO and SCJ have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SCJ is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SCJ is cheaper with a 0.49% expense ratio, compared with 0.71% for CJP.NEO.
CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index, while SCJ tracks MSCI Japan Small Cap Index. Their fees differ too: 0.71% for CJP.NEO and 0.49% for SCJ.
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