ESGJ.L vs. PAJS.L
ESGJ.L (Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF) and PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) are both Japan Equities funds from Invesco - ESGJ.L tracks the Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF while PAJS.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 3 years, ESGJ.L returned 19.65%/yr vs 10.32%/yr for PAJS.L. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.19% expense ratio.
Performance
ESGJ.L vs. PAJS.L - Performance Comparison
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Different Trading Currencies
ESGJ.L is traded in USD, while PAJS.L is traded in GBp. To make them comparable, the PAJS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ESGJ.L achieves a 17.08% return, which is significantly lower than PAJS.L's 10,830.41% return.
ESGJ.L
- 1D
- 1.13%
- 1M
- 0.75%
- 6M
- 10.77%
- YTD
- 17.08%
- 1Y
- 37.54%
- 3Y*
- 19.65%
- 5Y*
- 9.49%
- 10Y*
- —
PAJS.L
- 1D
- 1.15%
- 1M
- 0.52%
- 6M
- 4.79%
- YTD
- 10,830.41%
- 1Y
- 23.37%
- 3Y*
- 10.32%
- 5Y*
- —
- 10Y*
- —
ESGJ.L vs. PAJS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESGJ.L Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF | 17.08% | 27.11% | 8.02% | 19.45% | -17.71% | 0.80% |
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 10,830.41% | -98.78% | -0.92% | 14.41% | -22.90% | -27.17% |
Correlation
The correlation between ESGJ.L and PAJS.L is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.85 |
The correlation between ESGJ.L and PAJS.L has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.
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Return for Risk
ESGJ.L vs. PAJS.L — Risk / Return Rank
ESGJ.L
PAJS.L
ESGJ.L vs. PAJS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF (ESGJ.L) and Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.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.
| ESGJ.L | PAJS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | -281.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 88.74 | -87.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 0.23 | +2.62 |
| Martin ratioReturn relative to average drawdown | 9.02 | 0.46 | +8.55 |
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Drawdowns
ESGJ.L vs. PAJS.L - Drawdown Comparison
The maximum ESGJ.L drawdown since its inception was -33.20%, smaller than the maximum PAJS.L drawdown of -99.31%. Use the drawdown chart below to compare losses from any high point for ESGJ.L and PAJS.L.
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Drawdown Indicators
| ESGJ.L | PAJS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.20% | -99.31% | +66.11% |
Max Drawdown (1Y)Largest decline over 1 year | -12.73% | -99.06% | +86.33% |
Max Drawdown (3Y)Largest decline over 3 years | -14.67% | -99.06% | +84.39% |
Max Drawdown (5Y)Largest decline over 5 years | -33.20% | — | — |
Current DrawdownCurrent decline from peak | -2.30% | -15.27% | +12.97% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -38.04% | +28.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 48.78% | -44.76% |
Volatility
ESGJ.L vs. PAJS.L - Volatility Comparison
The current volatility for Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF (ESGJ.L) is 6.67%, while Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) has a volatility of 7.30%. This indicates that ESGJ.L experiences smaller price fluctuations and is considered to be less risky than PAJS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESGJ.L | PAJS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 7.30% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 17.62% | 1,130.15% | -1,112.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.34% | 27,956.50% | -27,935.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.75% | 13,164.10% | -13,145.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 13,164.10% | -13,145.67% |
ESGJ.L vs. PAJS.L - Expense Ratio Comparison
Both ESGJ.L and PAJS.L have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ESGJ.L vs. PAJS.L - Dividend Comparison
Neither ESGJ.L nor PAJS.L has paid dividends to shareholders.
Frequently Asked Questions
ESGJ.L and PAJS.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.19% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESGJ.L and PAJS.L have the same expense ratio: 0.19% per year.
ESGJ.L tracks Invesco Markets II PLC - Invesco MSCI Japan Universal Screened UCITS ETF, while PAJS.L tracks TOPIX TR JPY.
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