IJPH.L vs. ^N225

Last updated Apr 3, 2026

Compare and contrast key facts about iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) and Nikkei 225 (^N225).

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.

Performance

IJPH.L vs. ^N225 - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) and Nikkei 225 (^N225). The values are adjusted to include any dividend payments, if applicable.

IJPH.L vs. ^N225 - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF	8.26%	29.38%	23.82%	34.19%	-4.30%	11.94%	9.27%	15.95%	-15.90%	19.46%
^N225 Nikkei 225	4.06%	17.94%	8.72%	13.25%	-11.23%	-5.05%	17.82%	15.96%	-4.44%	13.06%

Different Trading Currencies

IJPH.L is traded in GBP, while ^N225 is traded in JPY. To make them comparable, the ^N225 values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, IJPH.L achieves a 8.26% return, which is significantly higher than ^N225's 4.06% return. Over the past 10 years, IJPH.L has outperformed ^N225 with an annualized return of 13.89%, while ^N225 has yielded a comparatively lower 9.46% annualized return.

IJPH.L

• 1D: -1.63%
• 1M: 1.63%
• YTD: 8.26%
• 6M: 21.23%
• 1Y: 43.53%
• 3Y*: 28.85%
• 5Y*: 17.98%
• 10Y*: 13.89%

^N225

• 1D: 0.00%
• 1M: -6.95%
• YTD: 4.06%
• 6M: 9.44%
• 1Y: 34.62%
• 3Y*: 13.13%
• 5Y*: 4.97%
• 10Y*: 9.46%

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

Return for Risk

IJPH.L vs. ^N225 — Risk / Return Rank

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

IJPH.L

IJPH.L Risk / Return Rank: 91
IJPH.L Sharpe Ratio Rank: 86
IJPH.L Sortino Ratio Rank: 88
IJPH.L Omega Ratio Rank: 86
IJPH.L Calmar Ratio Rank: 97
IJPH.L Martin Ratio Rank: 97

^N225

^N225 Risk / Return Rank: 90
^N225 Sharpe Ratio Rank: 93
^N225 Sortino Ratio Rank: 97
^N225 Omega Ratio Rank: 93
^N225 Calmar Ratio Rank: 81
^N225 Martin Ratio Rank: 84

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.

IJPH.L vs. ^N225 - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) and Nikkei 225 (^N225). 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.

	IJPH.L	^N225	Difference
Sharpe ratio Return per unit of total volatility	1.86	1.44	+0.42
Sortino ratio Return per unit of downside risk	2.54	2.13	+0.42
Omega ratio Gain probability vs. loss probability	1.36	1.29	+0.08
Calmar ratio Return relative to maximum drawdown	5.59	1.77	+3.82
Martin ratio Return relative to average drawdown	20.40	5.62	+14.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJPH.L vs. ^N225 - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 1.86, which is comparable to the ^N225 Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of IJPH.L and ^N225, 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

	IJPH.L	^N225	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.44	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.23	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.46	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.29	+0.41

Correlation

The correlation between IJPH.L and ^N225 is 0.29, 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.

Drawdowns

IJPH.L vs. ^N225 - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, smaller than the maximum ^N225 drawdown of -36.70%. Use the drawdown chart below to compare losses from any high point for IJPH.L and ^N225.

Drawdown Indicators

	IJPH.L	^N225	Difference
Max Drawdown Largest peak-to-trough decline	-34.55%	-81.87%	+47.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-13.23%	+3.59%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-26.26%	+4.31%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	-31.80%	-2.75%
Current Drawdown Current decline from peak	-5.85%	-9.73%	+3.88%
Average Drawdown Average peak-to-trough decline	-7.49%	-34.31%	+26.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	4.63%	-1.99%

Volatility

IJPH.L vs. ^N225 - Volatility Comparison

The current volatility for iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) is 9.39%, while Nikkei 225 (^N225) has a volatility of 11.22%. This indicates that IJPH.L experiences smaller price fluctuations and is considered to be less risky than ^N225 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJPH.L	^N225	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.39%	11.22%	-1.83%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	18.81%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	23.27%	26.58%	-3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.95%	22.45%	-3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.43%	21.09%	-1.66%