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HMJP.L vs. LCJP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HMJP.L vs. LCJP.L

Last updated Jun 5, 2026

HMJP.L (HSBC MSCI Japan UCITS ETF USD) and LCJP.L (Amundi MSCI Japan UCITS ETF Acc) are both Japan Equities funds tracking the TOPIX TR JPY, from HSBC and Amundi respectively. Both are passively managed. Over the past 5 years, HMJP.L returned 10.21%/yr vs 10.26%/yr for LCJP.L. With a 0.98 correlation, they move nearly in lockstep. HMJP.L charges 0.19%/yr vs 0.12%/yr for LCJP.L.

Performance

HMJP.L vs. LCJP.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 Amundi MSCI Japan UCITS ETF Acc (LCJP.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HMJP.L is traded in GBp, while LCJP.L is traded in GBP. To make them comparable, the LCJP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with HMJP.L having a 16.35% return and LCJP.L slightly higher at 16.47%.

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%

LCJP.L

1D
-0.28%
1M
6.27%
YTD
16.47%
6M
15.66%
1Y
34.33%
3Y*
15.67%
5Y*
10.26%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
HMJP.L
HSBC MSCI Japan UCITS ETF USD		16.35%17.44%9.05%14.01%-7.12%2.09%12.36%14.51%-4.36%
LCJP.L
Amundi MSCI Japan UCITS ETF Acc		16.47%17.61%8.90%14.05%-7.13%2.24%12.26%14.63%-4.50%

Correlation

The correlation between HMJP.L and LCJP.L is 0.99 - 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

0.99

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2018

0.98

The correlation between HMJP.L and LCJP.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

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

Sectors
HMJP.L
LCJP.L

Industrials

24.7%
26.0%

Technology

20.8%
19.1%

Financial Services

17.6%
17.5%

Consumer Cyclical

12.0%
12.1%

Communication Services

8.8%
7.9%

Healthcare

5.8%
6.3%

Consumer Defensive

3.5%
3.6%

Basic Materials

2.9%
3.0%

Real Estate

1.9%
2.3%

Utilities

1.0%
1.1%

Energy

1.0%
1.1%

Industrials

HMJP.L
24.7%
LCJP.L
26.0%

Technology

HMJP.L
20.8%
LCJP.L
19.1%

Financial Services

HMJP.L
17.6%
LCJP.L
17.5%

Consumer Cyclical

HMJP.L
12.0%
LCJP.L
12.1%

Communication Services

HMJP.L
8.8%
LCJP.L
7.9%

Healthcare

HMJP.L
5.8%
LCJP.L
6.3%

Consumer Defensive

HMJP.L
3.5%
LCJP.L
3.6%

Basic Materials

HMJP.L
2.9%
LCJP.L
3.0%

Real Estate

HMJP.L
1.9%
LCJP.L
2.3%

Utilities

HMJP.L
1.0%
LCJP.L
1.1%

Energy

HMJP.L
1.0%
LCJP.L
1.1%

Compare stocks, funds, or ETFs

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HSBC MSCI Japan UCITS ETF USD

Amundi MSCI Japan UCITS ETF Acc

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 LCJP.L:
LCJP.L vs. SJPA.LLCJP.L vs. CSJP.LLCJP.L vs. LGJG.LLCJP.L vs. VJPB.LLCJP.L vs. JPJP.LLCJP.L vs. CAJPYLCJP.L vs. DXJG.L

Return for Risk

HMJP.L vs. LCJP.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
LCJP.L
LCJP.L Risk / Return Rank: 5959
Overall Rank
LCJP.L Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
LCJP.L Sortino Ratio Rank: 5656
Sortino Ratio Rank
LCJP.L Omega Ratio Rank: 5858
Omega Ratio Rank
LCJP.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
LCJP.L Martin Ratio Rank: 5858
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. LCJP.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 Amundi MSCI Japan UCITS ETF Acc (LCJP.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.LLCJP.LDifference
Sharpe ratioReturn per unit of total volatility
1.85
1.84

+0.01

Sortino ratioReturn per unit of downside risk
2.65
2.64

0.00

Omega ratioGain probability vs. loss probability

1.35

1.35

0.00

Calmar ratioReturn relative to maximum drawdown

3.13

3.21

-0.09

Martin ratioReturn relative to average drawdown

10.15

10.25

-0.09

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. LCJP.L - Sharpe Ratio Comparison

The current HMJP.L Sharpe Ratio is 1.85, which is comparable to the LCJP.L Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of HMJP.L and LCJP.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.

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Sharpe Ratios by Period

HMJP.LLCJP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.85

1.84

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.64

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.52

-0.04

Drawdowns

HMJP.L vs. LCJP.L - Drawdown Comparison

The maximum HMJP.L drawdown since its inception was -24.24%, smaller than the maximum LCJP.L drawdown of -26.61%. Use the drawdown chart below to compare losses from any high point for HMJP.L and LCJP.L.

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Drawdown Indicators

HMJP.LLCJP.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.24%

-26.61%

+2.37%

Max Drawdown (1Y)

Largest decline over 1 year

-10.83%

-10.64%

-0.19%

Max Drawdown (3Y)

Largest decline over 3 years

-14.29%

-14.62%

+0.33%

Max Drawdown (5Y)

Largest decline over 5 years

-18.50%

-18.58%

+0.08%

Max Drawdown (10Y)

Largest decline over 10 years

-24.24%

—

—

Current Drawdown

Current decline from peak

-0.40%

-0.28%

-0.12%

Average Drawdown

Average peak-to-trough decline

-6.98%

-5.49%

-1.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

3.34%

0.00%

Volatility

HMJP.L vs. LCJP.L - Volatility Comparison

HSBC MSCI Japan UCITS ETF USD (HMJP.L) and Amundi MSCI Japan UCITS ETF Acc (LCJP.L) have volatilities of 3.74% and 3.73%, 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

HMJP.LLCJP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.74%

3.73%

+0.01%

Volatility (6M)

Calculated over the trailing 6-month period

14.72%

15.10%

-0.38%

Volatility (1Y)

Calculated over the trailing 1-year period

18.31%

18.58%

-0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.93%

15.97%

-0.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.01%

16.82%

-0.81%

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

HMJP.L has a 0.19% expense ratio, which is higher than LCJP.L's 0.12% 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. LCJP.L - Dividend Comparison

HMJP.L's dividend yield for the trailing twelve months is around 1.49%, while LCJP.L has not paid dividends to shareholders.

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%
LCJP.L
Amundi MSCI Japan UCITS ETF Acc		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

With a correlation of 0.99, HMJP.L and LCJP.L 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, LCJP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LCJP.L is cheaper with a 0.12% expense ratio, compared with 0.19% for HMJP.L.

Both ETFs track TOPIX TR JPY. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.19% for HMJP.L and 0.12% for LCJP.L.

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