CSJP.L vs. HPJS.L
CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) and HPJS.L (HSBC MSCI Japan Climate Paris Aligned UCITS ETF) are both Japan Equities funds tracking the TOPIX TR JPY, from iShares and HSBC respectively. Both are passively managed. Over the past 3 years, CSJP.L returned 15.57%/yr vs 7.09%/yr for HPJS.L. Their correlation of 0.92 suggests significant overlap in exposure. CSJP.L charges 0.48%/yr vs 0.18%/yr for HPJS.L.
Performance
CSJP.L vs. HPJS.L - Performance Comparison
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Different Trading Currencies
CSJP.L is traded in GBp, while HPJS.L is traded in GBP. To make them comparable, the HPJS.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSJP.L achieves a 16.41% return, which is significantly higher than HPJS.L's 8.46% return.
CSJP.L
- 1D
- -0.24%
- 1M
- 6.26%
- YTD
- 16.41%
- 6M
- 15.60%
- 1Y
- 34.17%
- 3Y*
- 15.57%
- 5Y*
- 10.06%
- 10Y*
- 10.09%
HPJS.L
- 1D
- -1.17%
- 1M
- 3.06%
- YTD
- 8.46%
- 6M
- 6.41%
- 1Y
- 25.00%
- 3Y*
- 7.09%
- 5Y*
- —
- 10Y*
- —
CSJP.L vs. HPJS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc) | 16.41% | 17.48% | 9.01% | 13.68% | -7.33% | -3.06% |
HPJS.L HSBC MSCI Japan Climate Paris Aligned UCITS ETF | 8.46% | 14.99% | -1.51% | 9.90% | -15.00% | -3.14% |
Correlation
The correlation between CSJP.L and HPJS.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2021 | 0.92 |
The correlation between CSJP.L and HPJS.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
CSJP.L vs. HPJS.L — Risk / Return Rank
CSJP.L
HPJS.L
CSJP.L vs. HPJS.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 HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJS.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.
| CSJP.L | HPJS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.25 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 2.04 | +1.20 |
| Martin ratioReturn relative to average drawdown | 10.33 | 6.70 | +3.63 |
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
| CSJP.L | HPJS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 1.35 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.15 | +0.48 |
Drawdowns
CSJP.L vs. HPJS.L - Drawdown Comparison
The maximum CSJP.L drawdown since its inception was -24.31%, roughly equal to the maximum HPJS.L drawdown of -24.65%. Use the drawdown chart below to compare losses from any high point for CSJP.L and HPJS.L.
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Drawdown Indicators
| CSJP.L | HPJS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.31% | -24.65% | +0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -10.49% | -12.22% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -17.24% | +2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.31% | — | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.70% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -6.10% | -11.45% | +5.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.72% | -0.42% |
Volatility
CSJP.L vs. HPJS.L - Volatility Comparison
The current volatility for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) is 3.77%, while HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJS.L) has a volatility of 4.72%. This indicates that CSJP.L experiences smaller price fluctuations and is considered to be less risky than HPJS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSJP.L | HPJS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.77% | 4.72% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 14.68% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.35% | 18.43% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 15.94% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.96% | 15.94% | +0.02% |
CSJP.L vs. HPJS.L - Expense Ratio Comparison
CSJP.L has a 0.48% expense ratio, which is higher than HPJS.L's 0.18% expense ratio.
Dividends
CSJP.L vs. HPJS.L - Dividend Comparison
Neither CSJP.L nor HPJS.L has paid dividends to shareholders.
Frequently Asked Questions
CSJP.L and HPJS.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPJS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPJS.L is cheaper with a 0.18% expense ratio, compared with 0.48% for CSJP.L.
Both ETFs track TOPIX TR JPY. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.48% for CSJP.L and 0.18% for HPJS.L.
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