CNKY.L vs. ISJP.L
CNKY.L (iShares Nikkei 225 UCITS ETF (Acc)) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds from iShares - CNKY.L tracks the TOPIX TR JPY while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 10 years, CNKY.L returned 12.70%/yr vs 8.58%/yr for ISJP.L. A 0.75 correlation means they provide meaningful diversification when combined. CNKY.L charges 0.48%/yr vs 0.58%/yr for ISJP.L.
Performance
CNKY.L vs. ISJP.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNKY.L achieves a 31.80% return, which is significantly higher than ISJP.L's 15.08% return. Over the past 10 years, CNKY.L has outperformed ISJP.L with an annualized return of 12.70%, while ISJP.L has yielded a comparatively lower 8.58% annualized return.
CNKY.L
- 1D
- -1.22%
- 1M
- 7.58%
- YTD
- 31.80%
- 6M
- 28.96%
- 1Y
- 64.51%
- 3Y*
- 20.46%
- 5Y*
- 12.16%
- 10Y*
- 12.70%
ISJP.L
- 1D
- 0.31%
- 1M
- 4.30%
- YTD
- 15.08%
- 6M
- 15.70%
- 1Y
- 31.91%
- 3Y*
- 14.99%
- 5Y*
- 8.64%
- 10Y*
- 8.58%
CNKY.L vs. ISJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNKY.L iShares Nikkei 225 UCITS ETF (Acc) | 31.80% | 20.64% | 9.15% | 15.02% | -10.53% | -4.18% | 21.18% | 16.38% | -3.99% | 14.19% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 15.08% | 20.89% | 4.99% | 7.01% | -2.01% | -2.01% | 4.51% | 13.94% | -11.99% | 19.35% |
Correlation
The correlation between CNKY.L and ISJP.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010 | 0.75 |
The correlation between CNKY.L and ISJP.L shifts across timeframes, from 0.59 (1 year) to 0.80 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CNKY.L vs. ISJP.L — Risk / Return Rank
CNKY.L
ISJP.L
CNKY.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.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.
| CNKY.L | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.38 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 2.89 | +1.87 |
| Martin ratioReturn relative to average drawdown | 14.40 | 9.66 | +4.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNKY.L | ISJP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.81 | 2.07 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.61 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.55 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.48 | +0.18 |
Drawdowns
CNKY.L vs. ISJP.L - Drawdown Comparison
The maximum CNKY.L drawdown since its inception was -23.61%, smaller than the maximum ISJP.L drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for CNKY.L and ISJP.L.
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Drawdown Indicators
| CNKY.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.61% | -32.93% | +9.32% |
Max Drawdown (1Y)Largest decline over 1 year | -13.32% | -10.84% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -19.39% | -11.23% | -8.16% |
Max Drawdown (5Y)Largest decline over 5 years | -20.83% | -21.01% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -23.61% | -28.98% | +5.37% |
Current DrawdownCurrent decline from peak | -1.22% | -1.25% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -6.22% | -1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.41% | 3.25% | +1.16% |
Volatility
CNKY.L vs. ISJP.L - Volatility Comparison
iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L) has a higher volatility of 6.86% compared to iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) at 4.25%. This indicates that CNKY.L's price experiences larger fluctuations and is considered to be riskier than ISJP.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 | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.86% | 4.25% | +2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 17.88% | 13.34% | +4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.59% | 15.17% | +7.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.76% | 14.22% | +3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 15.62% | +1.60% |
CNKY.L vs. ISJP.L - Expense Ratio Comparison
CNKY.L has a 0.48% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
CNKY.L vs. ISJP.L - Dividend Comparison
CNKY.L has not paid dividends to shareholders, while ISJP.L's dividend yield for the trailing twelve months is around 1.67%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNKY.L iShares Nikkei 225 UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.67% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.68% |
Frequently Asked Questions
CNKY.L and ISJP.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNKY.L is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNKY.L is cheaper with a 0.48% expense ratio, compared with 0.58% for ISJP.L.
CNKY.L tracks TOPIX TR JPY, while ISJP.L tracks MSCI Japan Small Cap NR JPY. Their fees differ too: 0.48% for CNKY.L and 0.58% for ISJP.L.
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