IJPA.L vs. CJPU.L
IJPA.L (iShares Core MSCI Japan IMI UCITS ETF USD Acc) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds from iShares - IJPA.L tracks the MSCI Japan Investable Market Index (IMI) while CJPU.L tracks the MSCI Japan Index (Net). Both are passively managed. Over the past 10 years, IJPA.L returned 8.96%/yr vs 8.85%/yr for CJPU.L. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.12% expense ratio.
Performance
IJPA.L vs. CJPU.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IJPA.L having a 12.49% return and CJPU.L slightly lower at 12.44%. Both investments have delivered pretty close results over the past 10 years, with IJPA.L having a 8.96% annualized return and CJPU.L not far behind at 8.85%.
IJPA.L
- 1D
- -2.39%
- 1M
- -5.04%
- 6M
- 6.75%
- YTD
- 12.49%
- 1Y
- 29.96%
- 3Y*
- 16.37%
- 5Y*
- 8.69%
- 10Y*
- 8.96%
CJPU.L
- 1D
- -2.51%
- 1M
- -5.70%
- 6M
- 6.20%
- YTD
- 12.44%
- 1Y
- 30.44%
- 3Y*
- 16.15%
- 5Y*
- 8.69%
- 10Y*
- 8.85%
IJPA.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJPA.L iShares Core MSCI Japan IMI UCITS ETF USD Acc | 12.49% | 27.28% | 6.62% | 19.34% | -16.16% | 0.16% | 14.98% | 18.46% | -14.15% | 25.83% |
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.44% | 26.13% | 7.33% | 20.25% | -17.32% | 0.50% | 16.08% | 17.64% | -13.50% | 24.10% |
Correlation
The correlation between IJPA.L and CJPU.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2010 | 0.73 |
Over the past year, IJPA.L and CJPU.L have become more correlated (0.99) than their long-term average of 0.73, meaning their price movements have been converging.
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Return for Risk
IJPA.L vs. CJPU.L — Risk / Return Rank
IJPA.L
CJPU.L
IJPA.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.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.
| IJPA.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.37 | +0.09 |
| Martin ratioReturn relative to average drawdown | 8.06 | 7.70 | +0.35 |
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Drawdowns
IJPA.L vs. CJPU.L - Drawdown Comparison
The maximum IJPA.L drawdown since its inception was -40.74%, which is greater than CJPU.L's maximum drawdown of -32.64%. Use the drawdown chart below to compare losses from any high point for IJPA.L and CJPU.L.
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Drawdown Indicators
| IJPA.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.74% | -32.64% | -8.10% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | -12.79% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -14.74% | +0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -32.50% | -32.64% | +0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -32.50% | -32.64% | +0.14% |
Current DrawdownCurrent decline from peak | -6.12% | -7.07% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -5.86% | -3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 3.94% | -0.23% |
Volatility
IJPA.L vs. CJPU.L - Volatility Comparison
The current volatility for iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) is 6.61%, while iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) has a volatility of 7.14%. This indicates that IJPA.L experiences smaller price fluctuations and is considered to be less risky than CJPU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJPA.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 7.14% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 17.66% | 18.29% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.92% | 21.85% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 18.44% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.86% | 17.12% | -0.26% |
IJPA.L vs. CJPU.L - Expense Ratio Comparison
Both IJPA.L and CJPU.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IJPA.L vs. CJPU.L - Dividend Comparison
Neither IJPA.L nor CJPU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, IJPA.L and CJPU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IJPA.L and CJPU.L have the same expense ratio: 0.12% per year.
IJPA.L tracks MSCI Japan Investable Market Index (IMI), while CJPU.L tracks MSCI Japan Index (Net).
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