IJPE.L vs. LGAP.L
IJPE.L (iShares MSCI Japan EUR Hedged UCITS ETF Accumulating) and LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) are both Japan Equities funds - IJPE.L tracks the MSCI Japan Index while LGAP.L tracks the L&G Asia Pacific ex Japan Equity UCITS ETF. Both are passively managed. Over the past 5 years, IJPE.L returned 19.69%/yr vs 6.24%/yr for LGAP.L. A 0.58 correlation means they provide meaningful diversification when combined. IJPE.L charges 0.64%/yr vs 0.10%/yr for LGAP.L.
Performance
IJPE.L vs. LGAP.L - Performance Comparison
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Different Trading Currencies
IJPE.L is traded in EUR, while LGAP.L is traded in USD. To make them comparable, the LGAP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IJPE.L achieves a 20.75% return, which is significantly higher than LGAP.L's 12.72% return.
IJPE.L
- 1D
- -1.21%
- 1M
- 0.69%
- 6M
- 13.10%
- YTD
- 20.75%
- 1Y
- 49.00%
- 3Y*
- 26.62%
- 5Y*
- 19.69%
- 10Y*
- 14.09%
LGAP.L
- 1D
- 0.00%
- 1M
- 2.06%
- 6M
- 9.72%
- YTD
- 12.72%
- 1Y
- 16.99%
- 3Y*
- 11.75%
- 5Y*
- 6.24%
- 10Y*
- —
IJPE.L vs. LGAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IJPE.L iShares MSCI Japan EUR Hedged UCITS ETF Accumulating | 20.75% | 27.33% | 22.08% | 32.82% | -5.43% | 11.46% | 8.93% | 15.39% | -11.01% |
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF | 12.72% | 6.61% | 11.58% | 1.68% | 0.20% | 10.56% | -0.50% | 20.44% | -2.41% |
Correlation
The correlation between IJPE.L and LGAP.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.58 |
The correlation between IJPE.L and LGAP.L has been stable across timeframes, ranging from 0.49 to 0.58 - a consistent structural relationship.
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Return for Risk
IJPE.L vs. LGAP.L — Risk / Return Rank
IJPE.L
LGAP.L
IJPE.L vs. LGAP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) and L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.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.
| IJPE.L | LGAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.05 | 2.77 | +2.28 |
| Martin ratioReturn relative to average drawdown | 16.45 | 7.36 | +9.09 |
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Drawdowns
IJPE.L vs. LGAP.L - Drawdown Comparison
The maximum IJPE.L drawdown since its inception was -34.53%, smaller than the maximum LGAP.L drawdown of -36.48%. Use the drawdown chart below to compare losses from any high point for IJPE.L and LGAP.L.
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Drawdown Indicators
| IJPE.L | LGAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.53% | -36.48% | +1.95% |
Max Drawdown (1Y)Largest decline over 1 year | -9.66% | -6.05% | -3.61% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | -20.20% | -1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -20.20% | -1.30% |
Max Drawdown (10Y)Largest decline over 10 years | -34.53% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | -0.02% | -3.45% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -5.70% | -3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 2.28% | +0.69% |
Volatility
IJPE.L vs. LGAP.L - Volatility Comparison
iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) has a higher volatility of 7.13% compared to L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) at 2.91%. This indicates that IJPE.L's price experiences larger fluctuations and is considered to be riskier than LGAP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IJPE.L | LGAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 2.91% | +4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 16.38% | 10.38% | +6.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.63% | 12.96% | +7.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 15.76% | +3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.56% | 18.30% | +0.26% |
IJPE.L vs. LGAP.L - Expense Ratio Comparison
IJPE.L has a 0.64% expense ratio, which is higher than LGAP.L's 0.10% expense ratio.
Dividends
IJPE.L vs. LGAP.L - Dividend Comparison
Neither IJPE.L nor LGAP.L has paid dividends to shareholders.
Frequently Asked Questions
IJPE.L and LGAP.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGAP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGAP.L is cheaper with a 0.10% expense ratio, compared with 0.64% for IJPE.L.
IJPE.L tracks MSCI Japan Index, while LGAP.L tracks L&G Asia Pacific ex Japan Equity UCITS ETF. They also come from different issuers: iShares and L&G. Their fees differ too: 0.64% for IJPE.L and 0.10% for LGAP.L.
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