PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HMJP.L vs. HUKX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMJP.L vs. HUKX.L

Last updated Jun 5, 2026

HMJP.L (HSBC MSCI Japan UCITS ETF USD) and HUKX.L (HSBC FTSE 100 UCITS ETF GBP) are both exchange-traded funds - HMJP.L is a Japan Equities fund tracking the TOPIX TR JPY, while HUKX.L is a Europe Equities fund tracking the FTSE AllSh TR GBP. Both are passively managed. Over the past 10 years, HMJP.L returned 10.30%/yr vs 9.07%/yr for HUKX.L. A 0.54 correlation means they provide meaningful diversification when combined. HMJP.L charges 0.19%/yr vs 0.07%/yr for HUKX.L.

Performance

HMJP.L vs. HUKX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in HSBC MSCI Japan UCITS ETF USD (HMJP.L) and HSBC FTSE 100 UCITS ETF GBP (HUKX.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, HMJP.L achieves a 16.35% return, which is significantly higher than HUKX.L's 5.71% return. Over the past 10 years, HMJP.L has outperformed HUKX.L with an annualized return of 10.30%, while HUKX.L has yielded a comparatively lower 9.07% annualized return.

HMJP.L

1D
-0.40%
1M
6.17%
YTD
16.35%
6M
15.48%
1Y
33.99%
3Y*
15.60%
5Y*
10.21%
10Y*
10.30%

HUKX.L

1D
0.29%
1M
1.39%
YTD
5.71%
6M
8.18%
1Y
20.97%
3Y*
14.79%
5Y*
11.88%
10Y*
9.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HMJP.L vs. HUKX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HMJP.L
HSBC MSCI Japan UCITS ETF USD		16.35%17.44%9.05%14.01%-7.12%2.09%12.36%14.51%-8.64%13.37%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		5.71%26.20%9.58%7.36%5.07%17.54%-11.64%17.42%-8.67%12.39%

Correlation

The correlation between HMJP.L and HUKX.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.46

Correlation (10Y)
Calculated over the trailing 10-year period

0.54

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2010

0.54

The correlation between HMJP.L and HUKX.L has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.

HMJP.L vs. HUKX.L - Sectors Allocation Comparison

Sectors
HMJP.L
HUKX.L

Industrials

24.7%
13.0%

Technology

20.8%
0.3%

Financial Services

17.6%
26.2%

Consumer Cyclical

12.0%
4.5%

Communication Services

8.8%
2.3%

Healthcare

5.8%
12.9%

Consumer Defensive

3.5%
13.7%

Basic Materials

2.9%
8.5%

Real Estate

1.9%
1.0%

Utilities

1.0%
4.8%

Energy

1.0%
10.7%

Industrials

HMJP.L
24.7%
HUKX.L
13.0%

Technology

HMJP.L
20.8%
HUKX.L
0.3%

Financial Services

HMJP.L
17.6%
HUKX.L
26.2%

Consumer Cyclical

HMJP.L
12.0%
HUKX.L
4.5%

Communication Services

HMJP.L
8.8%
HUKX.L
2.3%

Healthcare

HMJP.L
5.8%
HUKX.L
12.9%

Consumer Defensive

HMJP.L
3.5%
HUKX.L
13.7%

Basic Materials

HMJP.L
2.9%
HUKX.L
8.5%

Real Estate

HMJP.L
1.9%
HUKX.L
1.0%

Utilities

HMJP.L
1.0%
HUKX.L
4.8%

Energy

HMJP.L
1.0%
HUKX.L
10.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC MSCI Japan UCITS ETF USD

HSBC FTSE 100 UCITS ETF GBP

Often compared with HMJP.L:
HMJP.L vs. VJPA.LHMJP.L vs. SJPA.LHMJP.L vs. HPJS.LHMJP.L vs. JRIE.LHMJP.L vs. DXJA.LHMJP.L vs. S400.LHMJP.L vs. DXJP.L
Often compared with HUKX.L:
HUKX.L vs. ISF.LHUKX.L vs. VUKG.LHUKX.L vs. VFWAXHUKX.L vs. EUDVHUKX.L vs. LDUK.LHUKX.L vs. HSPD.LHUKX.L vs. LDEG.L

Return for Risk

HMJP.L vs. HUKX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HMJP.L
HMJP.L Risk / Return Rank: 5858
Overall Rank
HMJP.L Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
HMJP.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
HMJP.L Omega Ratio Rank: 5858
Omega Ratio Rank
HMJP.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
HMJP.L Martin Ratio Rank: 5858
Martin Ratio Rank
HUKX.L
HUKX.L Risk / Return Rank: 5555
Overall Rank
HUKX.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
HUKX.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
HUKX.L Omega Ratio Rank: 6060
Omega Ratio Rank
HUKX.L Calmar Ratio Rank: 4949
Calmar Ratio Rank
HUKX.L Martin Ratio Rank: 5050
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HMJP.L vs. HUKX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Japan UCITS ETF USD (HMJP.L) and HSBC FTSE 100 UCITS ETF GBP (HUKX.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.

HMJP.LHUKX.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.93

-0.08

Sortino ratioReturn per unit of downside risk
2.65
2.70

-0.05

Omega ratioGain probability vs. loss probability

1.35

1.36

-0.01

Calmar ratioReturn relative to maximum drawdown

3.13

2.38

+0.75

Martin ratioReturn relative to average drawdown

10.15

8.21

+1.95

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HMJP.L vs. HUKX.L - Sharpe Ratio Comparison

The current HMJP.L Sharpe Ratio is 1.85, which is comparable to the HUKX.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of HMJP.L and HUKX.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

HMJP.LHUKX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.93

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.94

-0.29

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.61

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.53

-0.05

Drawdowns

HMJP.L vs. HUKX.L - Drawdown Comparison

The maximum HMJP.L drawdown since its inception was -24.24%, smaller than the maximum HUKX.L drawdown of -34.22%. Use the drawdown chart below to compare losses from any high point for HMJP.L and HUKX.L.

Loading charts...

Drawdown Indicators

HMJP.LHUKX.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.24%

-34.22%

+9.98%

Max Drawdown (1Y)

Largest decline over 1 year

-10.83%

-8.78%

-2.05%

Max Drawdown (3Y)

Largest decline over 3 years

-14.29%

-12.95%

-1.34%

Max Drawdown (5Y)

Largest decline over 5 years

-18.50%

-12.95%

-5.55%

Max Drawdown (10Y)

Largest decline over 10 years

-24.24%

-34.22%

+9.98%

Current Drawdown

Current decline from peak

-0.40%

-3.87%

+3.47%

Average Drawdown

Average peak-to-trough decline

-6.98%

-4.37%

-2.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

2.55%

+0.79%

Volatility

HMJP.L vs. HUKX.L - Volatility Comparison

HSBC MSCI Japan UCITS ETF USD (HMJP.L) and HSBC FTSE 100 UCITS ETF GBP (HUKX.L) have volatilities of 3.74% and 3.90%, 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.

Loading charts...

Volatility by Period

HMJP.LHUKX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.74%

3.90%

-0.16%

Volatility (6M)

Calculated over the trailing 6-month period

14.72%

9.43%

+5.29%

Volatility (1Y)

Calculated over the trailing 1-year period

18.31%

10.82%

+7.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.93%

12.65%

+3.28%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.01%

14.96%

+1.05%

HMJP.L vs. HUKX.L - Expense Ratio Comparison

HMJP.L has a 0.19% expense ratio, which is higher than HUKX.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HMJP.L vs. HUKX.L - Dividend Comparison

HMJP.L's dividend yield for the trailing twelve months is around 1.49%, less than HUKX.L's 2.85% yield.

PositionTTM20252024202320222021202020192018201720162015
HMJP.L
HSBC MSCI Japan UCITS ETF USD		1.49%1.74%1.64%1.75%1.98%1.53%1.68%1.83%1.73%1.41%1.27%1.10%
HUKX.L
HSBC FTSE 100 UCITS ETF GBP		2.85%2.95%3.74%3.50%3.63%3.19%4.04%4.31%4.35%3.79%3.49%3.79%

Frequently Asked Questions

HMJP.L and HUKX.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HUKX.L is cheaper with a 0.07% expense ratio, compared with 0.19% for HMJP.L.

HMJP.L is categorized as Japan Equities, while HUKX.L is Europe Equities. HMJP.L tracks TOPIX TR JPY, while HUKX.L tracks FTSE AllSh TR GBP. Their fees differ too: 0.19% for HMJP.L and 0.07% for HUKX.L.

Portfolio Optimizer

Find the right allocation for HMJP.L and HUKX.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer