CNKY.L vs. CJPU.L
CNKY.L (iShares Nikkei 225 UCITS ETF (Acc)) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds from iShares - CNKY.L tracks the TOPIX TR JPY while CJPU.L tracks the MSCI Japan Index (Net). Both are passively managed. Over the past 10 years, CNKY.L returned 10.82%/yr vs 8.56%/yr for CJPU.L. A 0.66 correlation means they provide meaningful diversification when combined. CNKY.L charges 0.48%/yr vs 0.12%/yr for CJPU.L.
Performance
CNKY.L vs. CJPU.L - Performance Comparison
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Different Trading Currencies
CNKY.L is traded in GBp, while CJPU.L is traded in USD. To make them comparable, the CJPU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNKY.L achieves a 24.28% return, which is significantly higher than CJPU.L's 12.60% return. Over the past 10 years, CNKY.L has outperformed CJPU.L with an annualized return of 10.82%, while CJPU.L has yielded a comparatively lower 8.56% annualized return.
CNKY.L
- 1D
- -2.58%
- 1M
- -10.11%
- 6M
- 17.04%
- YTD
- 24.28%
- 1Y
- 48.80%
- 3Y*
- 19.24%
- 5Y*
- 11.27%
- 10Y*
- 10.82%
CJPU.L
- 1D
- -2.34%
- 1M
- -6.86%
- 6M
- 5.58%
- YTD
- 12.60%
- 1Y
- 30.09%
- 3Y*
- 14.94%
- 5Y*
- 9.18%
- 10Y*
- 8.56%
CNKY.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNKY.L iShares Nikkei 225 UCITS ETF (Acc) | 24.28% | 20.64% | 9.15% | 15.02% | -10.53% | -4.18% | 21.18% | 16.38% | -3.99% | 14.19% |
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.60% | 17.14% | 9.20% | 14.24% | -7.49% | 1.45% | 12.67% | 13.16% | -8.37% | 13.37% |
Correlation
The correlation between CNKY.L and CJPU.L is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 26, 2010 | 0.66 |
The correlation between CNKY.L and CJPU.L shifts across timeframes, from 0.66 (all time) to 0.86 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CNKY.L vs. CJPU.L — Risk / Return Rank
CNKY.L
CJPU.L
CNKY.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.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.
| CNKY.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 2.84 | +0.76 |
| Martin ratioReturn relative to average drawdown | 9.98 | 8.61 | +1.38 |
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Drawdowns
CNKY.L vs. CJPU.L - Drawdown Comparison
The maximum CNKY.L drawdown since its inception was -99.40%, which is greater than CJPU.L's maximum drawdown of -24.62%. Use the drawdown chart below to compare losses from any high point for CNKY.L and CJPU.L.
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Drawdown Indicators
| CNKY.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.40% | -24.62% | -74.78% |
Max Drawdown (1Y)Largest decline over 1 year | -13.49% | -10.54% | -2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -19.39% | -14.29% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.83% | -18.51% | -2.32% |
Max Drawdown (10Y)Largest decline over 10 years | -23.61% | -24.62% | +1.01% |
Current DrawdownCurrent decline from peak | -96.84% | -8.44% | -88.40% |
Average DrawdownAverage peak-to-trough decline | -95.12% | -6.35% | -88.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.88% | 3.49% | +1.39% |
Volatility
CNKY.L vs. CJPU.L - Volatility Comparison
iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L) has a higher volatility of 9.61% compared to iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) at 6.83%. This indicates that CNKY.L's price experiences larger fluctuations and is considered to be riskier than CJPU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNKY.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.61% | 6.83% | +2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 20.80% | 17.53% | +3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.22% | 20.79% | +4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 17.07% | +1.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 16.77% | +0.72% |
CNKY.L vs. CJPU.L - Expense Ratio Comparison
CNKY.L has a 0.48% expense ratio, which is higher than CJPU.L's 0.12% expense ratio.
Dividends
CNKY.L vs. CJPU.L - Dividend Comparison
Neither CNKY.L nor CJPU.L has paid dividends to shareholders.
Frequently Asked Questions
CNKY.L and CJPU.L have a correlation of 0.84, 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 0.48% for CNKY.L.
CNKY.L tracks TOPIX TR JPY, while CJPU.L tracks MSCI Japan Index (Net). Their fees differ too: 0.48% for CNKY.L and 0.12% for CJPU.L.
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