CJPU.L vs. JREI.L
CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) and JREI.L (JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist)) are both Japan Equities funds. CJPU.L is passively managed, while JREI.L is actively managed. Over the past 3 years, CJPU.L returned 16.15%/yr vs 15.87%/yr for JREI.L. With a 0.97 correlation, they move nearly in lockstep. CJPU.L charges 0.12%/yr vs 0.25%/yr for JREI.L.
Performance
CJPU.L vs. JREI.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CJPU.L having a 12.44% return and JREI.L slightly lower at 12.43%.
CJPU.L
- 1D
- -2.51%
- 1M
- -5.70%
- 6M
- 6.20%
- YTD
- 12.44%
- 1Y
- 30.44%
- 3Y*
- 16.15%
- 5Y*
- 8.69%
- 10Y*
- 8.85%
JREI.L
- 1D
- -2.47%
- 1M
- -5.81%
- 6M
- 5.94%
- YTD
- 12.43%
- 1Y
- 29.18%
- 3Y*
- 15.87%
- 5Y*
- —
- 10Y*
- —
CJPU.L vs. JREI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.44% | 26.13% | 7.33% | 20.25% | -10.45% |
JREI.L JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) | 12.43% | 24.16% | 7.95% | 20.04% | -10.89% |
Correlation
The correlation between CJPU.L and JREI.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2022 | 0.97 |
The correlation between CJPU.L and JREI.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
CJPU.L vs. JREI.L — Risk / Return Rank
CJPU.L
JREI.L
CJPU.L vs. JREI.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 JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) (JREI.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 | JREI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.37 | 0.00 |
| Martin ratioReturn relative to average drawdown | 7.70 | 7.57 | +0.13 |
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Drawdowns
CJPU.L vs. JREI.L - Drawdown Comparison
The maximum CJPU.L drawdown since its inception was -32.64%, which is greater than JREI.L's maximum drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for CJPU.L and JREI.L.
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Drawdown Indicators
| CJPU.L | JREI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.64% | -21.64% | -11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -12.26% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.74% | -14.85% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -32.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.64% | — | — |
Current DrawdownCurrent decline from peak | -7.07% | -7.48% | +0.41% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -5.13% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.84% | +0.10% |
Volatility
CJPU.L vs. JREI.L - Volatility Comparison
iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) and JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) (JREI.L) have volatilities of 7.14% and 7.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CJPU.L | JREI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 7.31% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.29% | 18.19% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.85% | 21.73% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 18.59% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 18.59% | -1.47% |
CJPU.L vs. JREI.L - Expense Ratio Comparison
CJPU.L has a 0.12% expense ratio, which is lower than JREI.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. JREI.L - Dividend Comparison
CJPU.L has not paid dividends to shareholders, while JREI.L's dividend yield for the trailing twelve months is around 1.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JREI.L JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) | 1.53% | 1.76% | 1.58% | 1.66% | 2.01% |
Frequently Asked Questions
With a correlation of 0.99, CJPU.L and JREI.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 JREI.L.
They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.12% for CJPU.L and 0.25% for JREI.L.
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