CJPU.L vs. TPXG.L
CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) and TPXG.L (Amundi Japan Topix UCITS ETF JPY) are both Japan Equities funds - CJPU.L tracks the MSCI Japan Index (Net) while TPXG.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 10 years, CJPU.L returned 8.85%/yr vs 8.84%/yr for TPXG.L. Their correlation of 0.87 suggests significant overlap in exposure. CJPU.L charges 0.12%/yr vs 0.20%/yr for TPXG.L.
Performance
CJPU.L vs. TPXG.L - Performance Comparison
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Different Trading Currencies
CJPU.L is traded in USD, while TPXG.L is traded in GBp. To make them comparable, the TPXG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with CJPU.L having a 12.44% return and TPXG.L slightly lower at 12.27%. Both investments have delivered pretty close results over the past 10 years, with CJPU.L having a 8.85% annualized return and TPXG.L not far behind at 8.84%.
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%
TPXG.L
- 1D
- -2.10%
- 1M
- -3.18%
- 6M
- 6.31%
- YTD
- 12.27%
- 1Y
- 29.06%
- 3Y*
- 16.32%
- 5Y*
- 8.87%
- 10Y*
- 8.84%
CJPU.L vs. TPXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.44% | 26.13% | 7.33% | 20.25% | -17.32% | 0.50% | 16.08% | 17.64% | -13.50% | 24.10% |
TPXG.L Amundi Japan Topix UCITS ETF JPY | 12.27% | 27.17% | 6.39% | 19.44% | -15.66% | 0.16% | 14.01% | 19.88% | -16.05% | 26.06% |
Correlation
The correlation between CJPU.L and TPXG.L is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2015 | 0.87 |
The correlation between CJPU.L and TPXG.L has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
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Return for Risk
CJPU.L vs. TPXG.L — Risk / Return Rank
CJPU.L
TPXG.L
CJPU.L vs. TPXG.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 Amundi Japan Topix UCITS ETF JPY (TPXG.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 | TPXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.32 | +0.04 |
| Martin ratioReturn relative to average drawdown | 7.70 | 7.70 | +0.01 |
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Drawdowns
CJPU.L vs. TPXG.L - Drawdown Comparison
The maximum CJPU.L drawdown since its inception was -32.64%, smaller than the maximum TPXG.L drawdown of -68.70%. Use the drawdown chart below to compare losses from any high point for CJPU.L and TPXG.L.
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Drawdown Indicators
| CJPU.L | TPXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.64% | -68.70% | +36.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.79% | -12.44% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -14.74% | -14.46% | -0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -32.64% | -32.21% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -32.64% | -57.14% | +24.50% |
Current DrawdownCurrent decline from peak | -7.07% | -4.90% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -27.38% | +21.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.77% | +0.17% |
Volatility
CJPU.L vs. TPXG.L - Volatility Comparison
iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) has a higher volatility of 7.14% compared to Amundi Japan Topix UCITS ETF JPY (TPXG.L) at 6.20%. This indicates that CJPU.L's price experiences larger fluctuations and is considered to be riskier than TPXG.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 | TPXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.14% | 6.20% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 18.29% | 16.41% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.85% | 19.83% | +2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 17.67% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 29.49% | -12.37% |
CJPU.L vs. TPXG.L - Expense Ratio Comparison
CJPU.L has a 0.12% expense ratio, which is lower than TPXG.L's 0.20% 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. TPXG.L - Dividend Comparison
Neither CJPU.L nor TPXG.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, CJPU.L and TPXG.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 0.20% for TPXG.L.
CJPU.L tracks MSCI Japan Index (Net), while TPXG.L tracks TOPIX TR JPY. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.12% for CJPU.L and 0.20% for TPXG.L.
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