HMJD.L vs. IPXJ.L
HMJD.L (HSBC MSCI JAPAN UCITS ETF) and IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) are both Japan Equities funds - HMJD.L tracks the HSBC MSCI JAPAN UCITS ETF while IPXJ.L tracks the iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist). Both are passively managed. Over the past 10 years, HMJD.L returned 9.30%/yr vs 7.06%/yr for IPXJ.L. A 0.64 correlation means they provide meaningful diversification when combined. HMJD.L charges 0.19%/yr vs 0.60%/yr for IPXJ.L.
Performance
HMJD.L vs. IPXJ.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 higher than IPXJ.L's 10.20% return. Over the past 10 years, HMJD.L has outperformed IPXJ.L with an annualized return of 9.30%, while IPXJ.L has yielded a comparatively lower 7.06% 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%
IPXJ.L
- 1D
- -0.55%
- 1M
- 1.44%
- 6M
- 8.32%
- YTD
- 10.20%
- 1Y
- 15.90%
- 3Y*
- 12.30%
- 5Y*
- 5.56%
- 10Y*
- 7.06%
HMJD.L vs. IPXJ.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% |
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) | 10.20% | 19.91% | 4.45% | 5.64% | -6.26% | 3.62% | 6.65% | 17.59% | -10.82% | 25.42% |
Correlation
The correlation between HMJD.L and IPXJ.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2010 | 0.64 |
The correlation between HMJD.L and IPXJ.L has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.
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Return for Risk
HMJD.L vs. IPXJ.L — Risk / Return Rank
HMJD.L
IPXJ.L
HMJD.L vs. IPXJ.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 Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.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 | IPXJ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.20 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 1.81 | +0.95 |
| Martin ratioReturn relative to average drawdown | 8.93 | 4.92 | +4.00 |
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Drawdowns
HMJD.L vs. IPXJ.L - Drawdown Comparison
The maximum HMJD.L drawdown since its inception was -32.38%, smaller than the maximum IPXJ.L drawdown of -38.93%. Use the drawdown chart below to compare losses from any high point for HMJD.L and IPXJ.L.
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Drawdown Indicators
| HMJD.L | IPXJ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.38% | -38.93% | +6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -12.71% | -8.53% | -4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -14.76% | -18.67% | +3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -32.38% | -24.44% | -7.94% |
Max Drawdown (10Y)Largest decline over 10 years | -32.38% | -38.93% | +6.55% |
Current DrawdownCurrent decline from peak | -4.52% | -1.69% | -2.83% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -8.62% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 3.15% | +0.80% |
Volatility
HMJD.L vs. IPXJ.L - Volatility Comparison
HSBC MSCI JAPAN UCITS ETF (HMJD.L) has a higher volatility of 7.08% compared to iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) at 3.37%. This indicates that HMJD.L's price experiences larger fluctuations and is considered to be riskier than IPXJ.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 | IPXJ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.08% | 3.37% | +3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 17.96% | 11.42% | +6.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.58% | 13.84% | +7.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 17.21% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 17.71% | -0.61% |
HMJD.L vs. IPXJ.L - Expense Ratio Comparison
HMJD.L has a 0.19% expense ratio, which is lower than IPXJ.L's 0.60% expense ratio.
Dividends
HMJD.L vs. IPXJ.L - Dividend Comparison
HMJD.L's dividend yield for the trailing twelve months is around 1.51%, less than IPXJ.L's 3.56% yield.
| 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% |
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) | 3.56% | 2.88% | 3.49% | 3.50% | 3.76% | 2.92% | 2.45% | 3.58% | 3.92% | 3.19% | 3.48% | 3.44% |
Frequently Asked Questions
HMJD.L and IPXJ.L have a correlation of 0.67, 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 0.60% for IPXJ.L.
HMJD.L tracks HSBC MSCI JAPAN UCITS ETF, while IPXJ.L tracks iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist). They also come from different issuers: HSBC and iShares. Their fees differ too: 0.19% for HMJD.L and 0.60% for IPXJ.L.
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