HMJD.L vs. IJPH.L
HMJD.L (HSBC MSCI JAPAN UCITS ETF) and IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) are both Japan Equities funds - HMJD.L tracks the HSBC MSCI JAPAN UCITS ETF while IJPH.L tracks the MSCI Japan 100% Hedged to GBP Index. Both are passively managed. Over the past 10 years, HMJD.L returned 9.30%/yr vs 15.51%/yr for IJPH.L. Their correlation of 0.84 suggests significant overlap in exposure. HMJD.L charges 0.19%/yr vs 0.64%/yr for IJPH.L.
Performance
HMJD.L vs. IJPH.L - Performance Comparison
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Different Trading Currencies
HMJD.L is traded in USD, while IJPH.L is traded in GBP. To make them comparable, the IJPH.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HMJD.L achieves a 15.59% return, which is significantly lower than IJPH.L's 22.86% return. Over the past 10 years, HMJD.L has underperformed IJPH.L with an annualized return of 9.30%, while IJPH.L has yielded a comparatively higher 15.51% 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%
IJPH.L
- 1D
- 0.13%
- 1M
- 1.99%
- 6M
- 15.32%
- YTD
- 22.86%
- 1Y
- 53.76%
- 3Y*
- 30.08%
- 5Y*
- 20.92%
- 10Y*
- 15.51%
HMJD.L vs. IJPH.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% |
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF | 22.86% | 39.14% | 21.76% | 41.27% | -14.53% | 10.92% | 12.62% | 20.59% | -20.65% | 30.82% |
Correlation
The correlation between HMJD.L and IJPH.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 | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2012 | 0.84 |
The correlation between HMJD.L and IJPH.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. IJPH.L — Risk / Return Rank
HMJD.L
IJPH.L
HMJD.L vs. IJPH.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 GBP Hedged UCITS ETF (IJPH.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 | IJPH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.42 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 4.51 | -1.74 |
| Martin ratioReturn relative to average drawdown | 8.93 | 16.14 | -7.22 |
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Drawdowns
HMJD.L vs. IJPH.L - Drawdown Comparison
The maximum HMJD.L drawdown since its inception was -32.38%, smaller than the maximum IJPH.L drawdown of -45.23%. Use the drawdown chart below to compare losses from any high point for HMJD.L and IJPH.L.
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Drawdown Indicators
| HMJD.L | IJPH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.38% | -45.23% | +12.85% |
Max Drawdown (1Y)Largest decline over 1 year | -12.71% | -11.86% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -14.76% | -22.91% | +8.15% |
Max Drawdown (5Y)Largest decline over 5 years | -32.38% | -30.65% | -1.73% |
Max Drawdown (10Y)Largest decline over 10 years | -32.38% | -44.24% | +11.86% |
Current DrawdownCurrent decline from peak | -4.52% | -1.18% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -12.07% | +3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 3.32% | +0.63% |
Volatility
HMJD.L vs. IJPH.L - Volatility Comparison
HSBC MSCI JAPAN UCITS ETF (HMJD.L) and iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) have volatilities of 7.08% and 7.11%, 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
| HMJD.L | IJPH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 7.11% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 17.96% | 18.20% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.58% | 22.92% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 22.24% | -3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 21.79% | -4.69% |
HMJD.L vs. IJPH.L - Expense Ratio Comparison
HMJD.L has a 0.19% expense ratio, which is lower than IJPH.L's 0.64% expense ratio.
Dividends
HMJD.L vs. IJPH.L - Dividend Comparison
HMJD.L's dividend yield for the trailing twelve months is around 1.51%, while IJPH.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% |
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF | 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 IJPH.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 IJPH.L.
HMJD.L tracks HSBC MSCI JAPAN UCITS ETF, while IJPH.L tracks MSCI Japan 100% Hedged to GBP Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.19% for HMJD.L and 0.64% for IJPH.L.
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