HPJP.L vs. IJPD.L
HPJP.L (HSBC MSCI Japan Climate Paris Aligned UCITS ETF) and IJPD.L (iShares MSCI Japan USD Hedged UCITS ETF Accumulating) are both Japan Equities funds - HPJP.L tracks the HSBC MSCI Japan Climate Paris Aligned UCITS ETF while IJPD.L tracks the MSCI Japan 100% Hedged to USD Net TR Index. Both are passively managed. Over the past 3 years, HPJP.L returned 9.93%/yr vs 28.86%/yr for IJPD.L. A 0.74 correlation means they provide meaningful diversification when combined. HPJP.L charges 0.18%/yr vs 0.64%/yr for IJPD.L.
Performance
HPJP.L vs. IJPD.L - Performance Comparison
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Returns By Period
In the year-to-date period, HPJP.L achieves a 7.76% return, which is significantly lower than IJPD.L's 22.10% return.
HPJP.L
- 1D
- -1.56%
- 1M
- -1.56%
- 6M
- 2.77%
- YTD
- 7.76%
- 1Y
- 24.60%
- 3Y*
- 9.93%
- 5Y*
- —
- 10Y*
- —
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%
HPJP.L vs. IJPD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPJP.L HSBC MSCI Japan Climate Paris Aligned UCITS ETF | 7.76% | 23.28% | -3.07% | 16.34% | -24.08% | -1.77% |
IJPD.L iShares MSCI Japan USD Hedged UCITS ETF Accumulating | 22.10% | 29.04% | 24.14% | 35.59% | -3.08% | -1.04% |
Correlation
The correlation between HPJP.L and IJPD.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.74 |
The correlation between HPJP.L and IJPD.L has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.
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Return for Risk
HPJP.L vs. IJPD.L — Risk / Return Rank
HPJP.L
IJPD.L
HPJP.L vs. IJPD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJP.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.
| HPJP.L | IJPD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.45 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 5.55 | -3.80 |
| Martin ratioReturn relative to average drawdown | 5.75 | 18.34 | -12.59 |
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Drawdowns
HPJP.L vs. IJPD.L - Drawdown Comparison
The maximum HPJP.L drawdown since its inception was -33.79%, which is greater than IJPD.L's maximum drawdown of -31.09%. Use the drawdown chart below to compare losses from any high point for HPJP.L and IJPD.L.
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Drawdown Indicators
| HPJP.L | IJPD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.79% | -31.09% | -2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.95% | -9.32% | -4.63% |
Max Drawdown (3Y)Largest decline over 3 years | -24.10% | -21.80% | -2.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.09% | — |
Current DrawdownCurrent decline from peak | -4.69% | -3.28% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -15.31% | -6.71% | -8.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 2.83% | +1.44% |
Volatility
HPJP.L vs. IJPD.L - Volatility Comparison
HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJP.L) has a higher volatility of 7.80% compared to iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.L) at 6.63%. This indicates that HPJP.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
| HPJP.L | IJPD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.80% | 6.63% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 16.49% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 20.77% | +1.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.74% | 18.97% | +5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.74% | 18.64% | +6.10% |
HPJP.L vs. IJPD.L - Expense Ratio Comparison
HPJP.L has a 0.18% expense ratio, which is lower than IJPD.L's 0.64% expense ratio.
Dividends
HPJP.L vs. IJPD.L - Dividend Comparison
Neither HPJP.L nor IJPD.L has paid dividends to shareholders.
Frequently Asked Questions
HPJP.L and IJPD.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPJP.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPJP.L is cheaper with a 0.18% expense ratio, compared with 0.64% for IJPD.L.
HPJP.L tracks HSBC MSCI Japan Climate Paris Aligned 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: 0.18% for HPJP.L and 0.64% for IJPD.L.
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