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IJPA.L vs. IJPN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJPA.L vs. IJPN.L

Last updated Jun 5, 2026

IJPA.L (iShares Core MSCI Japan IMI UCITS ETF USD Acc) and IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) are both Japan Equities funds from iShares - IJPA.L tracks the MSCI Japan Investable Market Index (IMI) while IJPN.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 10 years, IJPA.L returned 9.30%/yr vs 9.68%/yr for IJPN.L. Their correlation of 0.82 suggests significant overlap in exposure. IJPA.L charges 0.12%/yr vs 0.59%/yr for IJPN.L.

Performance

IJPA.L vs. IJPN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IJPA.L is traded in USD, while IJPN.L is traded in GBp. To make them comparable, the IJPN.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IJPA.L achieves a 15.68% return, which is significantly lower than IJPN.L's 16.54% return. Both investments have delivered pretty close results over the past 10 years, with IJPA.L having a 9.30% annualized return and IJPN.L not far ahead at 9.68%.

IJPA.L

1D
-0.05%
1M
5.18%
YTD
15.68%
6M
16.60%
1Y
32.47%
3Y*
18.69%
5Y*
8.86%
10Y*
9.30%

IJPN.L

1D
-0.30%
1M
5.33%
YTD
16.54%
6M
16.88%
1Y
33.69%
3Y*
19.17%
5Y*
9.35%
10Y*
9.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJPA.L vs. IJPN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJPA.L
iShares Core MSCI Japan IMI UCITS ETF USD Acc		15.68%27.28%6.62%19.34%-16.16%0.16%14.98%18.46%-14.15%25.83%
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		16.54%27.09%7.57%20.04%-17.06%1.27%15.90%19.15%-13.63%24.06%

Correlation

The correlation between IJPA.L and IJPN.L is 0.96 - 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

0.96

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

0.96

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

0.94

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

0.93

Correlation (All Time)
Calculated using the full available price history since Dec 16, 2009

0.82

The correlation between IJPA.L and IJPN.L shifts across timeframes, from 0.82 (all time) to 0.96 (1 year), reflecting how their relationship changes across market environments.

IJPA.L vs. IJPN.L - Sectors Allocation Comparison

Sectors
IJPA.L
IJPN.L

Industrials

25.2%
24.8%

Technology

19.8%
20.3%

Financial Services

15.7%
18.2%

Consumer Cyclical

12.2%
11.9%

Healthcare

5.8%
5.9%

Communication Services

5.7%
8.7%

Basic Materials

5.1%
2.9%

Consumer Defensive

4.0%
3.5%

Real Estate

3.0%
1.9%

Utilities

1.2%
1.0%

Energy

0.9%
1.0%

Industrials

IJPA.L
25.2%
IJPN.L
24.8%

Technology

IJPA.L
19.8%
IJPN.L
20.3%

Financial Services

IJPA.L
15.7%
IJPN.L
18.2%

Consumer Cyclical

IJPA.L
12.2%
IJPN.L
11.9%

Healthcare

IJPA.L
5.8%
IJPN.L
5.9%

Communication Services

IJPA.L
5.7%
IJPN.L
8.7%

Basic Materials

IJPA.L
5.1%
IJPN.L
2.9%

Consumer Defensive

IJPA.L
4.0%
IJPN.L
3.5%

Real Estate

IJPA.L
3.0%
IJPN.L
1.9%

Utilities

IJPA.L
1.2%
IJPN.L
1.0%

Energy

IJPA.L
0.9%
IJPN.L
1.0%

Compare stocks, funds, or ETFs

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iShares Core MSCI Japan IMI UCITS ETF USD Acc

iShares MSCI Japan UCITS ETF (Dist)

Often compared with IJPA.L:
IJPA.L vs. IJPE.LIJPA.L vs. VJPN.LIJPA.L vs. IJPD.LIJPA.L vs. GLDIJPA.L vs. IAUIJPA.L vs. VJPB.LIJPA.L vs. FBT.L
Often compared with IJPN.L:
IJPN.L vs. EWJIJPN.L vs. CSJP.LIJPN.L vs. VJPU.LIJPN.L vs. ICHN.ASIJPN.L vs. WLDL.LIJPN.L vs. IWRD.ASIJPN.L vs. XESC.DE

Return for Risk

IJPA.L vs. IJPN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJPA.L
IJPA.L Risk / Return Rank: 5151
Overall Rank
IJPA.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IJPA.L Sortino Ratio Rank: 5151
Sortino Ratio Rank
IJPA.L Omega Ratio Rank: 5151
Omega Ratio Rank
IJPA.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
IJPA.L Martin Ratio Rank: 5252
Martin Ratio Rank
IJPN.L
IJPN.L Risk / Return Rank: 6060
Overall Rank
IJPN.L Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
IJPN.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
IJPN.L Omega Ratio Rank: 5959
Omega Ratio Rank
IJPN.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
IJPN.L Martin Ratio Rank: 6060
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.

IJPA.L vs. IJPN.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 (Dist) (IJPN.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.

IJPA.LIJPN.LDifference
Sharpe ratioReturn per unit of total volatility
1.63
1.65

-0.03

Sortino ratioReturn per unit of downside risk
2.45
2.46

0.00

Omega ratioGain probability vs. loss probability

1.31

1.31

0.00

Calmar ratioReturn relative to maximum drawdown

2.66

2.53

+0.13

Martin ratioReturn relative to average drawdown

8.86

8.50

+0.36

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJPA.L vs. IJPN.L - Sharpe Ratio Comparison

The current IJPA.L Sharpe Ratio is 1.63, which is comparable to the IJPN.L Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of IJPA.L and IJPN.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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Sharpe Ratios by Period

IJPA.LIJPN.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.63

1.65

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.52

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.57

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.25

+0.21

Drawdowns

IJPA.L vs. IJPN.L - Drawdown Comparison

The maximum IJPA.L drawdown since its inception was -32.47%, smaller than the maximum IJPN.L drawdown of -51.44%. Use the drawdown chart below to compare losses from any high point for IJPA.L and IJPN.L.

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Drawdown Indicators

IJPA.LIJPN.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.47%

-51.44%

+18.97%

Max Drawdown (1Y)

Largest decline over 1 year

-12.15%

-13.24%

+1.09%

Max Drawdown (3Y)

Largest decline over 3 years

-13.96%

-13.97%

+0.01%

Max Drawdown (5Y)

Largest decline over 5 years

-32.47%

-32.71%

+0.24%

Max Drawdown (10Y)

Largest decline over 10 years

-32.47%

-32.71%

+0.24%

Current Drawdown

Current decline from peak

-0.05%

-0.30%

+0.25%

Average Drawdown

Average peak-to-trough decline

-8.06%

-13.40%

+5.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.66%

3.96%

-0.30%

Volatility

IJPA.L vs. IJPN.L - Volatility Comparison

iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) have volatilities of 4.48% and 4.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJPA.LIJPN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.48%

4.51%

-0.03%

Volatility (6M)

Calculated over the trailing 6-month period

16.36%

16.31%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

19.88%

20.29%

-0.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.60%

18.06%

-0.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.86%

17.07%

-0.21%

IJPA.L vs. IJPN.L - Expense Ratio Comparison

IJPA.L has a 0.12% expense ratio, which is lower than IJPN.L's 0.59% expense ratio.

Dividends

IJPA.L vs. IJPN.L - Dividend Comparison

IJPA.L has not paid dividends to shareholders, while IJPN.L's dividend yield for the trailing twelve months is around 2.03%.

PositionTTM20252024202320222021202020192018201720162015
IJPA.L
iShares Core MSCI Japan IMI UCITS ETF USD Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		2.03%2.25%1.95%1.81%2.10%1.66%1.75%1.90%1.89%1.53%1.55%0.87%

Frequently Asked Questions

With a correlation of 0.96, IJPA.L and IJPN.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.

On fees, IJPA.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IJPA.L is cheaper with a 0.12% expense ratio, compared with 0.59% for IJPN.L.

IJPA.L tracks MSCI Japan Investable Market Index (IMI), while IJPN.L tracks TOPIX TR JPY. Their fees differ too: 0.12% for IJPA.L and 0.59% for IJPN.L.

Portfolio Optimizer

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