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IAEX.L vs. IJPH.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAEX.L vs. IJPH.L

Last updated Jun 16, 2026

IAEX.L (iShares AEX UCITS ETF EUR (Dist)) and IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) are both exchange-traded funds - IAEX.L is a Europe Equities fund tracking the Euronext AEX All Share TR EUR, while IJPH.L is a Japan Equities fund tracking the MSCI Japan 100% Hedged to GBP Index. Both are passively managed. Over the past 10 years, IAEX.L returned 13.40%/yr vs 15.77%/yr for IJPH.L. A 0.57 correlation means they provide meaningful diversification when combined. IAEX.L charges 0.30%/yr vs 0.64%/yr for IJPH.L.

Performance

IAEX.L vs. IJPH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, IAEX.L achieves a 13.70% return, which is significantly lower than IJPH.L's 20.84% return. Over the past 10 years, IAEX.L has underperformed IJPH.L with an annualized return of 13.40%, while IJPH.L has yielded a comparatively higher 15.77% annualized return.

IAEX.L

1D
-0.37%
1M
5.77%
YTD
13.70%
6M
13.17%
1Y
21.05%
3Y*
14.59%
5Y*
10.42%
10Y*
13.40%

IJPH.L

1D
1.39%
1M
4.33%
YTD
20.84%
6M
20.67%
1Y
53.19%
3Y*
26.82%
5Y*
20.46%
10Y*
15.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAEX.L vs. IJPH.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		13.70%16.14%8.60%14.11%-6.28%21.00%10.97%21.66%-7.74%20.82%
IJPH.L
iShares MSCI Japan GBP Hedged UCITS ETF		20.84%29.37%23.82%34.19%-4.30%11.94%9.27%15.94%-15.89%19.45%

Correlation

The correlation between IAEX.L and IJPH.L is 0.50, 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

0.50

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

0.50

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

0.55

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

0.57

Correlation (All Time)
Calculated using the full available price history since Jul 31, 2012

0.57

The correlation between IAEX.L and IJPH.L has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.

IAEX.L vs. IJPH.L - Sectors Allocation Comparison

Sectors
IAEX.L
IJPH.L

Technology

28.0%
19.1%

Consumer Defensive

17.5%
3.6%

Financial Services

14.9%
17.5%

Energy

14.1%
1.1%

Industrials

8.2%
26.0%

Basic Materials

5.8%
3.0%

Consumer Cyclical

5.2%
12.2%

Communication Services

4.1%
7.9%

Healthcare

1.8%
6.3%

Real Estate

0.4%
2.3%

Utilities

-

1.1%

Technology

IAEX.L
28.0%
IJPH.L
19.1%

Consumer Defensive

IAEX.L
17.5%
IJPH.L
3.6%

Financial Services

IAEX.L
14.9%
IJPH.L
17.5%

Energy

IAEX.L
14.1%
IJPH.L
1.1%

Industrials

IAEX.L
8.2%
IJPH.L
26.0%

Basic Materials

IAEX.L
5.8%
IJPH.L
3.0%

Consumer Cyclical

IAEX.L
5.2%
IJPH.L
12.2%

Communication Services

IAEX.L
4.1%
IJPH.L
7.9%

Healthcare

IAEX.L
1.8%
IJPH.L
6.3%

Real Estate

IAEX.L
0.4%
IJPH.L
2.3%

Utilities

IAEX.L

-

IJPH.L
1.1%

Compare stocks, funds, or ETFs

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iShares AEX UCITS ETF EUR (Dist)

iShares MSCI Japan GBP Hedged UCITS ETF

Often compared with IAEX.L:
IAEX.L vs. CSPX.LIAEX.L vs. CNDX.LIAEX.L vs. ^GSPCIAEX.L vs. VOOIAEX.L vs. VGTIAEX.L vs. VUSA.LIAEX.L vs. IUSA.L
Often compared with IJPH.L:
IJPH.L vs. SUJA.LIJPH.L vs. XSTC.LIJPH.L vs. XDJP.DEIJPH.L vs. XM1D.DEIJPH.L vs. EWJIJPH.L vs. ^N225IJPH.L vs. BRK-B

Return for Risk

IAEX.L vs. IJPH.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAEX.L
IAEX.L Risk / Return Rank: 5252
Overall Rank
IAEX.L Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IAEX.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
IAEX.L Omega Ratio Rank: 4949
Omega Ratio Rank
IAEX.L Calmar Ratio Rank: 5959
Calmar Ratio Rank
IAEX.L Martin Ratio Rank: 5050
Martin Ratio Rank
IJPH.L
IJPH.L Risk / Return Rank: 8989
Overall Rank
IJPH.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IJPH.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
IJPH.L Omega Ratio Rank: 8686
Omega Ratio Rank
IJPH.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
IJPH.L Martin Ratio Rank: 9090
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.

IAEX.L vs. IJPH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares AEX UCITS ETF EUR (Dist) (IAEX.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.

IAEX.LIJPH.LDifference
Sharpe ratioReturn per unit of total volatility
1.64
2.61

-0.96

Sortino ratioReturn per unit of downside risk
2.31
3.70

-1.39

Omega ratioGain probability vs. loss probability

1.30

1.48

-0.18

Calmar ratioReturn relative to maximum drawdown

2.78

5.49

-2.71

Martin ratioReturn relative to average drawdown

8.06

19.28

-11.22

IAEX.L vs. IJPH.L - Sharpe Ratio Comparison

The current IAEX.L Sharpe Ratio is 1.64, which is lower than the IJPH.L Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of IAEX.L and IJPH.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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Drawdowns

IAEX.L vs. IJPH.L - Drawdown Comparison

The maximum IAEX.L drawdown since its inception was -63.74%, which is greater than IJPH.L's maximum drawdown of -34.55%. Use the drawdown chart below to compare losses from any high point for IAEX.L and IJPH.L.

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Drawdown Indicators

IAEX.LIJPH.LDifference

Max Drawdown

Largest peak-to-trough decline

-63.74%

-34.55%

-29.19%

Max Drawdown (1Y)

Largest decline over 1 year

-7.54%

-9.64%

+2.10%

Max Drawdown (3Y)

Largest decline over 3 years

-12.80%

-21.95%

+9.15%

Max Drawdown (5Y)

Largest decline over 5 years

-21.96%

-21.95%

-0.01%

Max Drawdown (10Y)

Largest decline over 10 years

-28.85%

-34.55%

+5.70%

Current Drawdown

Current decline from peak

-0.37%

0.00%

-0.37%

Average Drawdown

Average peak-to-trough decline

-16.63%

-7.46%

-9.17%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.60%

2.75%

-0.15%

Volatility

IAEX.L vs. IJPH.L - Volatility Comparison

The current volatility for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) is 3.00%, while iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) has a volatility of 4.93%. This indicates that IAEX.L experiences smaller price fluctuations and is considered to be less risky 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

IAEX.LIJPH.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.00%

4.93%

-1.93%

Volatility (6M)

Calculated over the trailing 6-month period

10.37%

15.88%

-5.51%

Volatility (1Y)

Calculated over the trailing 1-year period

12.77%

20.36%

-7.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.20%

19.12%

-3.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.16%

19.22%

-3.06%

IAEX.L vs. IJPH.L - Expense Ratio Comparison

IAEX.L has a 0.30% expense ratio, which is lower than IJPH.L's 0.64% expense ratio.

Dividends

IAEX.L vs. IJPH.L - Dividend Comparison

IAEX.L's dividend yield for the trailing twelve months is around 0.96%, while IJPH.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		0.96%2.03%2.16%2.09%2.20%1.57%1.41%2.89%3.11%2.70%2.73%2.85%
IJPH.L
iShares MSCI Japan GBP Hedged 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%

Frequently Asked Questions

IAEX.L and IJPH.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IAEX.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IAEX.L is cheaper with a 0.30% expense ratio, compared with 0.64% for IJPH.L.

IAEX.L is categorized as Europe Equities, while IJPH.L is Japan Equities. IAEX.L tracks Euronext AEX All Share TR EUR, while IJPH.L tracks MSCI Japan 100% Hedged to GBP Index. Their fees differ too: 0.30% for IAEX.L and 0.64% for IJPH.L.

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