CJPU.L vs. HSXD.L
CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) and HSXD.L (HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF) are both Japan Equities funds - CJPU.L tracks the MSCI Japan Index (Net) while HSXD.L tracks the HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF. Both are passively managed. Over the past 5 years, CJPU.L returned 9.27%/yr vs 9.90%/yr for HSXD.L. A 0.63 correlation means they provide meaningful diversification when combined. CJPU.L charges 0.12%/yr vs 0.25%/yr for HSXD.L.
Performance
CJPU.L vs. HSXD.L - Performance Comparison
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Returns By Period
In the year-to-date period, CJPU.L achieves a 15.49% return, which is significantly lower than HSXD.L's 27.12% return.
CJPU.L
- 1D
- -0.89%
- 1M
- -1.47%
- 6M
- 9.41%
- YTD
- 15.49%
- 1Y
- 35.30%
- 3Y*
- 17.79%
- 5Y*
- 9.27%
- 10Y*
- 9.05%
HSXD.L
- 1D
- -1.47%
- 1M
- -7.17%
- 6M
- 21.56%
- YTD
- 27.12%
- 1Y
- 45.66%
- 3Y*
- 23.98%
- 5Y*
- 9.90%
- 10Y*
- —
CJPU.L vs. HSXD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 15.49% | 26.13% | 7.33% | 20.25% | -17.32% | 0.50% | 16.51% |
HSXD.L HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF | 27.12% | 32.35% | 14.83% | 4.23% | -15.92% | -0.71% | 22.36% |
Correlation
The correlation between CJPU.L and HSXD.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2020 | 0.63 |
The correlation between CJPU.L and HSXD.L has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.
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Return for Risk
CJPU.L vs. HSXD.L — Risk / Return Rank
CJPU.L
HSXD.L
CJPU.L vs. HSXD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) and HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF (HSXD.L). 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.
| CJPU.L | HSXD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 3.51 | -0.75 |
| Martin ratioReturn relative to average drawdown | 9.02 | 10.85 | -1.83 |
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Drawdowns
CJPU.L vs. HSXD.L - Drawdown Comparison
The maximum CJPU.L drawdown since its inception was -32.64%, smaller than the maximum HSXD.L drawdown of -38.23%. Use the drawdown chart below to compare losses from any high point for CJPU.L and HSXD.L.
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Drawdown Indicators
| CJPU.L | HSXD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.64% | -38.23% | +5.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -12.86% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -14.74% | -20.22% | +5.48% |
Max Drawdown (5Y)Largest decline over 5 years | -32.64% | -32.89% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -32.64% | — | — |
Current DrawdownCurrent decline from peak | -4.54% | -9.93% | +5.39% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -14.15% | +8.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 4.16% | -0.24% |
Volatility
CJPU.L vs. HSXD.L - Volatility Comparison
The current volatility for iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) is 6.79%, while HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF (HSXD.L) has a volatility of 10.03%. This indicates that CJPU.L experiences smaller price fluctuations and is considered to be less risky than HSXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CJPU.L | HSXD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.79% | 10.03% | -3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 18.10% | 20.15% | -2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.69% | 22.21% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.41% | 19.62% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 19.15% | -2.05% |
CJPU.L vs. HSXD.L - Expense Ratio Comparison
CJPU.L has a 0.12% expense ratio, which is lower than HSXD.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CJPU.L vs. HSXD.L - Dividend Comparison
Neither CJPU.L nor HSXD.L has paid dividends to shareholders.
Frequently Asked Questions
CJPU.L and HSXD.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CJPU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CJPU.L is cheaper with a 0.12% expense ratio, compared with 0.25% for HSXD.L.
CJPU.L tracks MSCI Japan Index (Net), while HSXD.L tracks HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.12% for CJPU.L and 0.25% for HSXD.L.
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