ETLR.DE vs. SGAJ.DE
ETLR.DE (L&G Japan Equity UCITS ETF) and SGAJ.DE (iShares MSCI Japan ESG Screened UCITS ETF USD (Acc)) are both Japan Equities funds - ETLR.DE tracks the Solactive Core Japan Large & Mid Cap while SGAJ.DE tracks the MSCI Japan ESG Screened. Both are passively managed. Over the past 5 years, ETLR.DE returned 9.93%/yr vs 9.71%/yr for SGAJ.DE. With a 0.98 correlation, they move nearly in lockstep. ETLR.DE charges 0.10%/yr vs 0.15%/yr for SGAJ.DE.
Performance
ETLR.DE vs. SGAJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLR.DE achieves a 15.36% return, which is significantly lower than SGAJ.DE's 17.45% return.
ETLR.DE
- 1D
- -0.30%
- 1M
- 3.65%
- YTD
- 15.36%
- 6M
- 15.65%
- 1Y
- 29.68%
- 3Y*
- 15.30%
- 5Y*
- 9.93%
- 10Y*
- —
SGAJ.DE
- 1D
- -0.33%
- 1M
- 4.03%
- YTD
- 17.45%
- 6M
- 17.53%
- 1Y
- 31.96%
- 3Y*
- 15.05%
- 5Y*
- 9.71%
- 10Y*
- —
ETLR.DE vs. SGAJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETLR.DE L&G Japan Equity UCITS ETF | 15.36% | 12.36% | 14.84% | 16.06% | -11.99% | 10.00% | 5.41% | 16.57% |
SGAJ.DE iShares MSCI Japan ESG Screened UCITS ETF USD (Acc) | 17.45% | 11.73% | 13.07% | 16.02% | -12.85% | 9.72% | 5.86% | 17.46% |
Correlation
The correlation between ETLR.DE and SGAJ.DE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2019 | 0.98 |
The correlation between ETLR.DE and SGAJ.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
ETLR.DE vs. SGAJ.DE — Risk / Return Rank
ETLR.DE
SGAJ.DE
ETLR.DE vs. SGAJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF (ETLR.DE) and iShares MSCI Japan ESG Screened UCITS ETF USD (Acc) (SGAJ.DE). 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.
| ETLR.DE | SGAJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.96 | -0.23 |
| Martin ratioReturn relative to average drawdown | 8.92 | 9.77 | -0.85 |
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
| ETLR.DE | SGAJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.62 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.57 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.55 | +0.06 |
Drawdowns
ETLR.DE vs. SGAJ.DE - Drawdown Comparison
The maximum ETLR.DE drawdown since its inception was -27.67%, roughly equal to the maximum SGAJ.DE drawdown of -28.20%. Use the drawdown chart below to compare losses from any high point for ETLR.DE and SGAJ.DE.
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Drawdown Indicators
| ETLR.DE | SGAJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.67% | -28.20% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -10.37% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -17.14% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -18.73% | -19.32% | +0.59% |
Current DrawdownCurrent decline from peak | -0.30% | -0.33% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -5.79% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.15% | +0.05% |
Volatility
ETLR.DE vs. SGAJ.DE - Volatility Comparison
The current volatility for L&G Japan Equity UCITS ETF (ETLR.DE) is 3.19%, while iShares MSCI Japan ESG Screened UCITS ETF USD (Acc) (SGAJ.DE) has a volatility of 3.44%. This indicates that ETLR.DE experiences smaller price fluctuations and is considered to be less risky than SGAJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETLR.DE | SGAJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.44% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 15.00% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.30% | 18.93% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 16.69% | -0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 17.41% | -0.57% |
ETLR.DE vs. SGAJ.DE - Expense Ratio Comparison
ETLR.DE has a 0.10% expense ratio, which is lower than SGAJ.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETLR.DE vs. SGAJ.DE - Dividend Comparison
Neither ETLR.DE nor SGAJ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, ETLR.DE and SGAJ.DE 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, ETLR.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLR.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for SGAJ.DE.
ETLR.DE tracks Solactive Core Japan Large & Mid Cap, while SGAJ.DE tracks MSCI Japan ESG Screened. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.10% for ETLR.DE and 0.15% for SGAJ.DE.
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