CSJP.L vs. CJPU.L
CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds from iShares - CSJP.L tracks the TOPIX TR JPY while CJPU.L tracks the MSCI Japan Index (Net). Both are passively managed. Over the past 10 years, CSJP.L returned 8.59%/yr vs 8.56%/yr for CJPU.L. A 0.72 correlation means they provide meaningful diversification when combined. CSJP.L charges 0.48%/yr vs 0.12%/yr for CJPU.L.
Performance
CSJP.L vs. CJPU.L - Performance Comparison
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Different Trading Currencies
CSJP.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
The year-to-date returns for both investments are quite close, with CSJP.L having a 12.42% return and CJPU.L slightly higher at 12.60%. Both investments have delivered pretty close results over the past 10 years, with CSJP.L having a 8.59% annualized return and CJPU.L not far behind at 8.56%.
CSJP.L
- 1D
- -2.12%
- 1M
- -6.12%
- 6M
- 5.57%
- YTD
- 12.42%
- 1Y
- 30.00%
- 3Y*
- 15.02%
- 5Y*
- 9.21%
- 10Y*
- 8.59%
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%
CSJP.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.42% | 17.48% | 9.01% | 13.68% | -7.33% | 1.76% | 12.16% | 13.94% | -8.52% | 13.00% |
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 CSJP.L and CJPU.L is 0.96 - 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 | 0.96 |
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 | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2010 | 0.72 |
Over the past year, CSJP.L and CJPU.L have become more correlated (0.96) than their long-term average of 0.72, meaning their price movements have been converging.
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Return for Risk
CSJP.L vs. CJPU.L — Risk / Return Rank
CSJP.L
CJPU.L
CSJP.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.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.
| CSJP.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 2.84 | 0.00 |
| Martin ratioReturn relative to average drawdown | 8.52 | 8.61 | -0.08 |
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Drawdowns
CSJP.L vs. CJPU.L - Drawdown Comparison
The maximum CSJP.L drawdown since its inception was -36.79%, 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 CSJP.L and CJPU.L.
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Drawdown Indicators
| CSJP.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -24.62% | -12.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.49% | -10.54% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -14.29% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | -18.51% | -0.17% |
Max Drawdown (10Y)Largest decline over 10 years | -24.31% | -24.62% | +0.31% |
Current DrawdownCurrent decline from peak | -8.40% | -8.44% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -9.91% | -6.35% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 3.49% | +0.02% |
Volatility
CSJP.L vs. CJPU.L - Volatility Comparison
iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) have volatilities of 6.52% and 6.83%, 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
| CSJP.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 6.83% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 17.53% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 20.79% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 17.07% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.00% | 16.77% | -0.77% |
CSJP.L vs. CJPU.L - Expense Ratio Comparison
CSJP.L has a 0.48% expense ratio, which is higher than CJPU.L's 0.12% expense ratio.
Dividends
CSJP.L vs. CJPU.L - Dividend Comparison
Neither CSJP.L nor CJPU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, CSJP.L and CJPU.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 0.48% for CSJP.L.
CSJP.L tracks TOPIX TR JPY, while CJPU.L tracks MSCI Japan Index (Net). Their fees differ too: 0.48% for CSJP.L and 0.12% for CJPU.L.
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