HPJP.L vs. IJPH.L
HPJP.L (HSBC MSCI Japan Climate Paris Aligned UCITS ETF) and IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) are both Japan Equities funds - HPJP.L tracks the HSBC MSCI Japan Climate Paris Aligned UCITS ETF while IJPH.L tracks the MSCI Japan 100% Hedged to GBP Index. Both are passively managed. Over the past 3 years, HPJP.L returned 9.93%/yr vs 30.08%/yr for IJPH.L. A 0.76 correlation means they provide meaningful diversification when combined. HPJP.L charges 0.18%/yr vs 0.64%/yr for IJPH.L.
Performance
HPJP.L vs. IJPH.L - Performance Comparison
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Different Trading Currencies
HPJP.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, HPJP.L achieves a 7.76% return, which is significantly lower than IJPH.L's 22.86% return.
HPJP.L
- 1D
- -1.56%
- 1M
- -1.56%
- 6M
- 2.77%
- YTD
- 7.76%
- 1Y
- 24.60%
- 3Y*
- 9.93%
- 5Y*
- —
- 10Y*
- —
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%
HPJP.L vs. IJPH.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% |
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF | 22.86% | 39.14% | 21.76% | 41.27% | -14.53% | -1.42% |
Correlation
The correlation between HPJP.L and IJPH.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.76 |
The correlation between HPJP.L and IJPH.L has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.
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Return for Risk
HPJP.L vs. IJPH.L — Risk / Return Rank
HPJP.L
IJPH.L
HPJP.L vs. IJPH.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 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.
| HPJP.L | IJPH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 4.51 | -2.76 |
| Martin ratioReturn relative to average drawdown | 5.75 | 16.14 | -10.39 |
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Drawdowns
HPJP.L vs. IJPH.L - Drawdown Comparison
The maximum HPJP.L drawdown since its inception was -33.79%, smaller than the maximum IJPH.L drawdown of -45.23%. Use the drawdown chart below to compare losses from any high point for HPJP.L and IJPH.L.
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Drawdown Indicators
| HPJP.L | IJPH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.79% | -45.23% | +11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -13.95% | -11.86% | -2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -24.10% | -22.91% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.24% | — |
Current DrawdownCurrent decline from peak | -4.69% | -1.18% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -15.31% | -12.07% | -3.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 3.32% | +0.95% |
Volatility
HPJP.L vs. IJPH.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 GBP Hedged UCITS ETF (IJPH.L) at 7.11%. This indicates that HPJP.L's price experiences larger fluctuations and is considered to be riskier than IJPH.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 | IJPH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.80% | 7.11% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 18.20% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 22.92% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.74% | 22.24% | +2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.74% | 21.79% | +2.95% |
HPJP.L vs. IJPH.L - Expense Ratio Comparison
HPJP.L has a 0.18% expense ratio, which is lower than IJPH.L's 0.64% expense ratio.
Dividends
HPJP.L vs. IJPH.L - Dividend Comparison
Neither HPJP.L nor IJPH.L has paid dividends to shareholders.
Frequently Asked Questions
HPJP.L and IJPH.L have a correlation of 0.83, 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 IJPH.L.
HPJP.L tracks HSBC MSCI Japan Climate Paris Aligned 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: 0.18% for HPJP.L and 0.64% for IJPH.L.
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