IBZL.L vs. IJPH.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L).

IBZL.L and IJPH.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBZL.L is a passively managed fund by iShares that tracks the performance of the MSCI Brazil NR USD. It was launched on Nov 18, 2005. IJPH.L is a passively managed fund by iShares that tracks the performance of the MSCI Japan 100% Hedged to GBP Index. It was launched on Jul 31, 2012. Both IBZL.L and IJPH.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IBZL.L vs. IJPH.L - Performance Comparison

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBZL.L iShares MSCI Brazil UCITS ETF (Dist)	23.78%	38.28%	-26.04%	25.61%	32.04%	-19.06%	-16.73%	15.40%	3.61%	14.78%
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF	10.05%	29.38%	23.82%	34.19%	-4.30%	11.94%	9.27%	15.95%	-15.90%	19.46%

Different Trading Currencies

IBZL.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, IBZL.L achieves a 23.78% return, which is significantly higher than IJPH.L's 10.05% return. Over the past 10 years, IBZL.L has underperformed IJPH.L with an annualized return of 10.96%, while IJPH.L has yielded a comparatively higher 13.97% annualized return.

IBZL.L

• 1D: 1.88%
• 1M: 2.04%
• YTD: 23.78%
• 6M: 33.79%
• 1Y: 52.43%
• 3Y*: 17.94%
• 5Y*: 15.19%
• 10Y*: 10.96%

IJPH.L

• 1D: 5.92%
• 1M: -2.07%
• YTD: 10.05%
• 6M: 23.59%
• 1Y: 46.19%
• 3Y*: 29.38%
• 5Y*: 18.37%
• 10Y*: 13.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

IBZL.L has a 0.74% expense ratio, which is higher than IJPH.L's 0.64% expense ratio.

IBZL.L

iShares MSCI Brazil UCITS ETF (Dist)

IJPH.L

iShares MSCI Japan GBP Hedged UCITS ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBZL.L

IBZL.L Risk / Return Rank: 94
IBZL.L Sharpe Ratio Rank: 94
IBZL.L Sortino Ratio Rank: 94
IBZL.L Omega Ratio Rank: 90
IBZL.L Calmar Ratio Rank: 98
IBZL.L Martin Ratio Rank: 93

IJPH.L

IJPH.L Risk / Return Rank: 92
IJPH.L Sharpe Ratio Rank: 89
IJPH.L Sortino Ratio Rank: 90
IJPH.L Omega Ratio Rank: 89
IJPH.L Calmar Ratio Rank: 96
IJPH.L Martin Ratio Rank: 95

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.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.

	IBZL.L	IJPH.L	Difference
Sharpe ratio Return per unit of total volatility	2.33	1.98	+0.35
Sortino ratio Return per unit of downside risk	3.01	2.68	+0.33
Omega ratio Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio Return relative to maximum drawdown	5.59	4.76	+0.83
Martin ratio Return relative to average drawdown	14.23	17.05	-2.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current IBZL.L Sharpe Ratio is 2.33, which is comparable to the IJPH.L Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of IBZL.L and IJPH.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IBZL.L	IJPH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	1.98	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.97	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.72	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.71	-0.48

Correlation

The correlation between IBZL.L and IJPH.L is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IBZL.L vs. IJPH.L - Dividend Comparison

IBZL.L's dividend yield for the trailing twelve months is around 5.17%, while IJPH.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBZL.L iShares MSCI Brazil UCITS ETF (Dist)	5.17%	5.74%	8.31%	6.83%	16.49%	8.64%	2.44%	3.28%	3.31%	1.86%	2.24%	5.42%
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%

Drawdowns

IBZL.L vs. IJPH.L - Drawdown Comparison

The maximum IBZL.L drawdown since its inception was -69.44%, 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 IBZL.L and IJPH.L.

Drawdown Indicators

	IBZL.L	IJPH.L	Difference
Max Drawdown Largest peak-to-trough decline	-69.44%	-34.55%	-34.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.74%	-13.04%	+3.30%
Max Drawdown (5Y) Largest decline over 5 years	-28.21%	-21.95%	-6.26%
Max Drawdown (10Y) Largest decline over 10 years	-51.77%	-34.55%	-17.22%
Current Drawdown Current decline from peak	-0.10%	-4.29%	+4.19%
Average Drawdown Average peak-to-trough decline	-21.97%	-7.49%	-14.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	2.69%	+1.09%

Volatility

IBZL.L vs. IJPH.L - Volatility Comparison

The current volatility for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) is 7.75%, while iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) has a volatility of 9.78%. This indicates that IBZL.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.

Volatility by Period

	IBZL.L	IJPH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.75%	9.78%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	17.26%	15.93%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	22.43%	23.22%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.47%	18.94%	+7.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.75%	19.43%	+12.32%