HMJD.L vs. IJPD.L
HMJD.L (HSBC MSCI JAPAN UCITS ETF) and IJPD.L (iShares MSCI Japan USD Hedged UCITS ETF Accumulating) are both Japan Equities funds - HMJD.L tracks the HSBC MSCI JAPAN UCITS ETF while IJPD.L tracks the MSCI Japan 100% Hedged to USD Net TR Index. Both are passively managed. Over the past 10 years, HMJD.L returned 9.30%/yr vs 16.33%/yr for IJPD.L. Their correlation of 0.85 suggests significant overlap in exposure. HMJD.L charges 0.19%/yr vs 0.64%/yr for IJPD.L.
Performance
HMJD.L vs. IJPD.L - Performance Comparison
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Returns By Period
In the year-to-date period, HMJD.L achieves a 15.59% return, which is significantly lower than IJPD.L's 22.10% return. Over the past 10 years, HMJD.L has underperformed IJPD.L with an annualized return of 9.30%, while IJPD.L has yielded a comparatively higher 16.33% annualized return.
HMJD.L
- 1D
- -1.92%
- 1M
- -1.20%
- 6M
- 9.27%
- YTD
- 15.59%
- 1Y
- 35.30%
- 3Y*
- 17.87%
- 5Y*
- 9.43%
- 10Y*
- 9.30%
IJPD.L
- 1D
- -1.07%
- 1M
- 0.56%
- 6M
- 14.39%
- YTD
- 22.10%
- 1Y
- 52.00%
- 3Y*
- 28.86%
- 5Y*
- 21.89%
- 10Y*
- 16.33%
HMJD.L vs. IJPD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMJD.L HSBC MSCI JAPAN UCITS ETF | 15.59% | 26.14% | 7.23% | 20.68% | -17.07% | 0.77% | 16.33% | 18.26% | -13.65% | 24.43% |
IJPD.L iShares MSCI Japan USD Hedged UCITS ETF Accumulating | 22.10% | 29.04% | 24.14% | 35.59% | -3.08% | 12.22% | 10.80% | 18.74% | -14.26% | 20.81% |
Correlation
The correlation between HMJD.L and IJPD.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 | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.85 |
The correlation between HMJD.L and IJPD.L has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
HMJD.L vs. IJPD.L — Risk / Return Rank
HMJD.L
IJPD.L
HMJD.L vs. IJPD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI JAPAN UCITS ETF (HMJD.L) and iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.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.
| HMJD.L | IJPD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.45 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 5.55 | -2.79 |
| Martin ratioReturn relative to average drawdown | 8.93 | 18.34 | -9.41 |
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Drawdowns
HMJD.L vs. IJPD.L - Drawdown Comparison
The maximum HMJD.L drawdown since its inception was -32.38%, roughly equal to the maximum IJPD.L drawdown of -31.09%. Use the drawdown chart below to compare losses from any high point for HMJD.L and IJPD.L.
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Drawdown Indicators
| HMJD.L | IJPD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.38% | -31.09% | -1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -12.71% | -9.32% | -3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.76% | -21.80% | +7.04% |
Max Drawdown (5Y)Largest decline over 5 years | -32.38% | -21.80% | -10.58% |
Max Drawdown (10Y)Largest decline over 10 years | -32.38% | -31.09% | -1.29% |
Current DrawdownCurrent decline from peak | -4.52% | -3.28% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -6.71% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 2.83% | +1.12% |
Volatility
HMJD.L vs. IJPD.L - Volatility Comparison
HSBC MSCI JAPAN UCITS ETF (HMJD.L) has a higher volatility of 7.08% compared to iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.L) at 6.63%. This indicates that HMJD.L's price experiences larger fluctuations and is considered to be riskier than IJPD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMJD.L | IJPD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 6.63% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 17.96% | 16.49% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.58% | 20.77% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 18.97% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 18.64% | -1.54% |
HMJD.L vs. IJPD.L - Expense Ratio Comparison
HMJD.L has a 0.19% expense ratio, which is lower than IJPD.L's 0.64% expense ratio.
Dividends
HMJD.L vs. IJPD.L - Dividend Comparison
HMJD.L's dividend yield for the trailing twelve months is around 1.51%, while IJPD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HMJD.L HSBC MSCI JAPAN UCITS ETF | 1.51% | 1.68% | 1.66% | 1.72% | 2.06% | 1.56% | 1.57% | 1.77% | 1.84% | 1.35% | 1.40% | 1.14% |
IJPD.L iShares MSCI Japan USD Hedged UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HMJD.L and IJPD.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, HMJD.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMJD.L is cheaper with a 0.19% expense ratio, compared with 0.64% for IJPD.L.
HMJD.L tracks HSBC MSCI JAPAN UCITS ETF, while IJPD.L tracks MSCI Japan 100% Hedged to USD Net TR Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.19% for HMJD.L and 0.64% for IJPD.L.
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