HPJP.L vs. IPXJ.L
HPJP.L (HSBC MSCI Japan Climate Paris Aligned UCITS ETF) and IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) are both Japan Equities funds - HPJP.L tracks the HSBC MSCI Japan Climate Paris Aligned UCITS ETF while IPXJ.L tracks the iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist). Both are passively managed. Over the past 3 years, HPJP.L returned 9.93%/yr vs 12.30%/yr for IPXJ.L. A 0.65 correlation means they provide meaningful diversification when combined. HPJP.L charges 0.18%/yr vs 0.60%/yr for IPXJ.L.
Performance
HPJP.L vs. IPXJ.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 IPXJ.L's 10.20% return.
HPJP.L
- 1D
- -1.56%
- 1M
- -1.56%
- 6M
- 2.77%
- YTD
- 7.76%
- 1Y
- 24.60%
- 3Y*
- 9.93%
- 5Y*
- —
- 10Y*
- —
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%
HPJP.L vs. IPXJ.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% |
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) | 10.20% | 19.91% | 4.45% | 5.64% | -6.26% | -3.28% |
Correlation
The correlation between HPJP.L and IPXJ.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.65 |
The correlation between HPJP.L and IPXJ.L has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
HPJP.L vs. IPXJ.L — Risk / Return Rank
HPJP.L
IPXJ.L
HPJP.L vs. IPXJ.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 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.
| HPJP.L | IPXJ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.81 | -0.06 |
| Martin ratioReturn relative to average drawdown | 5.75 | 4.92 | +0.83 |
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Drawdowns
HPJP.L vs. IPXJ.L - Drawdown Comparison
The maximum HPJP.L drawdown since its inception was -33.79%, smaller than the maximum IPXJ.L drawdown of -38.93%. Use the drawdown chart below to compare losses from any high point for HPJP.L and IPXJ.L.
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Drawdown Indicators
| HPJP.L | IPXJ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.79% | -38.93% | +5.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.95% | -8.53% | -5.42% |
Max Drawdown (3Y)Largest decline over 3 years | -24.10% | -18.67% | -5.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.93% | — |
Current DrawdownCurrent decline from peak | -4.69% | -1.69% | -3.00% |
Average DrawdownAverage peak-to-trough decline | -15.31% | -8.62% | -6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 3.15% | +1.12% |
Volatility
HPJP.L vs. IPXJ.L - Volatility Comparison
HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJP.L) has a higher volatility of 7.80% compared to iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) at 3.37%. This indicates that HPJP.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
| HPJP.L | IPXJ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.80% | 3.37% | +4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 18.56% | 11.42% | +7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.49% | 13.84% | +8.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.74% | 17.21% | +7.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.74% | 17.71% | +7.03% |
HPJP.L vs. IPXJ.L - Expense Ratio Comparison
HPJP.L has a 0.18% expense ratio, which is lower than IPXJ.L's 0.60% expense ratio.
Dividends
HPJP.L vs. IPXJ.L - Dividend Comparison
HPJP.L has not paid dividends to shareholders, while IPXJ.L's dividend yield for the trailing twelve months is around 3.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HPJP.L HSBC MSCI Japan Climate Paris Aligned UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
HPJP.L and IPXJ.L have a correlation of 0.64, 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 0.60% for IPXJ.L.
HPJP.L tracks HSBC MSCI Japan Climate Paris Aligned 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: 0.18% for HPJP.L and 0.60% for IPXJ.L.
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