IBTA.L vs. SJPA.L
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) are both exchange-traded funds - IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while SJPA.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 5 years, IBTA.L returned 1.87%/yr vs 8.87%/yr for SJPA.L. At a 0.06 correlation, their price movements are largely independent. IBTA.L charges 0.07%/yr vs 0.15%/yr for SJPA.L.
Performance
IBTA.L vs. SJPA.L - Performance Comparison
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Different Trading Currencies
IBTA.L is traded in USD, while SJPA.L is traded in GBp. To make them comparable, the SJPA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTA.L achieves a 0.46% return, which is significantly lower than SJPA.L's 16.02% return.
IBTA.L
- 1D
- 0.13%
- 1M
- 0.13%
- YTD
- 0.46%
- 6M
- 0.92%
- 1Y
- 3.43%
- 3Y*
- 4.23%
- 5Y*
- 1.87%
- 10Y*
- —
SJPA.L
- 1D
- -0.05%
- 1M
- 5.42%
- YTD
- 16.02%
- 6M
- 16.78%
- 1Y
- 32.63%
- 3Y*
- 18.62%
- 5Y*
- 8.87%
- 10Y*
- 9.30%
IBTA.L vs. SJPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.46% | 5.30% | 4.11% | 4.15% | -3.75% | -0.64% | 3.14% | 3.58% | 1.44% | -0.05% |
SJPA.L iShares Core MSCI Japan IMI UCITS ETF | 16.02% | 27.11% | 6.55% | 18.71% | -16.24% | 0.70% | 14.43% | 19.28% | -14.29% | 21.14% |
Correlation
The correlation between IBTA.L and SJPA.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.06 |
Over the past year, IBTA.L and SJPA.L have become more correlated (0.27) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
IBTA.L vs. SJPA.L — Risk / Return Rank
IBTA.L
SJPA.L
IBTA.L vs. SJPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and iShares Core MSCI Japan IMI UCITS ETF (SJPA.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.
| IBTA.L | SJPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.32 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 2.59 | +2.03 |
| Martin ratioReturn relative to average drawdown | 17.47 | 8.80 | +8.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTA.L | SJPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 1.68 | +1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.51 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.47 | +0.62 |
Drawdowns
IBTA.L vs. SJPA.L - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum SJPA.L drawdown of -32.52%. Use the drawdown chart below to compare losses from any high point for IBTA.L and SJPA.L.
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Drawdown Indicators
| IBTA.L | SJPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -32.52% | +26.72% |
Max Drawdown (1Y)Largest decline over 1 year | -0.74% | -12.53% | +11.79% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -14.25% | +13.36% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -32.52% | +26.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.52% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.05% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -8.31% | +7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 3.70% | -3.50% |
Volatility
IBTA.L vs. SJPA.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.43%, while iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) has a volatility of 4.33%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than SJPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | SJPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 4.33% | -3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 0.86% | 15.69% | -14.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.23% | 19.38% | -18.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.00% | 17.52% | -15.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 16.76% | -15.00% |
IBTA.L vs. SJPA.L - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is lower than SJPA.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTA.L vs. SJPA.L - Dividend Comparison
Neither IBTA.L nor SJPA.L has paid dividends to shareholders.
Frequently Asked Questions
IBTA.L and SJPA.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.15% for SJPA.L.
IBTA.L is categorized as Government Bonds, while SJPA.L is Japan Equities. IBTA.L tracks ICE US Treasury 1-3 Year Index, while SJPA.L tracks TOPIX TR JPY. Their fees differ too: 0.07% for IBTA.L and 0.15% for SJPA.L.
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