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IJPH.L vs. CUKX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJPH.L vs. CUKX.L

Last updated Jun 5, 2026

IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) and CUKX.L (iShares FTSE 100 UCITS ETF) are both exchange-traded funds - IJPH.L is a Japan Equities fund tracking the MSCI Japan 100% Hedged to GBP Index, while CUKX.L is a fund fund tracking the FTSE 100 Index. Both are passively managed. Over the past 10 years, IJPH.L returned 14.77%/yr vs 9.06%/yr for CUKX.L. A 0.56 correlation means they provide meaningful diversification when combined. IJPH.L charges 0.64%/yr vs 0.07%/yr for CUKX.L.

Performance

IJPH.L vs. CUKX.L - 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 iShares FTSE 100 UCITS ETF (CUKX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IJPH.L is traded in GBP, while CUKX.L is traded in GBp. To make them comparable, the CUKX.L 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 19.91% return, which is significantly higher than CUKX.L's 5.86% return. Over the past 10 years, IJPH.L has outperformed CUKX.L with an annualized return of 14.77%, while CUKX.L has yielded a comparatively lower 9.06% annualized return.

IJPH.L

1D
-0.37%
1M
5.15%
YTD
19.91%
6M
21.81%
1Y
53.07%
3Y*
28.46%
5Y*
20.45%
10Y*
14.77%

CUKX.L

1D
0.28%
1M
-0.66%
YTD
5.86%
6M
8.60%
1Y
21.37%
3Y*
14.63%
5Y*
11.72%
10Y*
9.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IJPH.L
iShares MSCI Japan GBP Hedged UCITS ETF		19.91%29.38%23.82%34.19%-4.30%11.94%9.27%15.95%-15.90%19.46%
CUKX.L
iShares FTSE 100 UCITS ETF		5.86%25.78%9.30%7.72%4.97%17.48%-11.28%17.23%-9.05%12.45%

Correlation

The correlation between IJPH.L and CUKX.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

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

0.43

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

0.50

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

0.55

Correlation (All Time)
Calculated using the full available price history since Aug 2, 2012

0.56

The correlation between IJPH.L and CUKX.L shifts across timeframes, from 0.42 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

IJPH.L vs. CUKX.L - Sectors Allocation Comparison

Sectors
IJPH.L
CUKX.L

Industrials

26.0%
13.7%

Technology

19.1%
0.8%

Financial Services

17.5%
25.0%

Consumer Cyclical

12.2%
5.0%

Communication Services

7.9%
2.6%

Healthcare

6.3%
13.6%

Consumer Defensive

3.6%
13.2%

Basic Materials

3.0%
8.9%

Real Estate

2.3%
0.9%

Utilities

1.1%
5.1%

Energy

1.1%
11.3%

Industrials

IJPH.L
26.0%
CUKX.L
13.7%

Technology

IJPH.L
19.1%
CUKX.L
0.8%

Financial Services

IJPH.L
17.5%
CUKX.L
25.0%

Consumer Cyclical

IJPH.L
12.2%
CUKX.L
5.0%

Communication Services

IJPH.L
7.9%
CUKX.L
2.6%

Healthcare

IJPH.L
6.3%
CUKX.L
13.6%

Consumer Defensive

IJPH.L
3.6%
CUKX.L
13.2%

Basic Materials

IJPH.L
3.0%
CUKX.L
8.9%

Real Estate

IJPH.L
2.3%
CUKX.L
0.9%

Utilities

IJPH.L
1.1%
CUKX.L
5.1%

Energy

IJPH.L
1.1%
CUKX.L
11.3%

Compare stocks, funds, or ETFs

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iShares MSCI Japan GBP Hedged UCITS ETF

iShares FTSE 100 UCITS ETF

Often compared with IJPH.L:
IJPH.L vs. SUJA.LIJPH.L vs. XSTC.LIJPH.L vs. XDJP.DEIJPH.L vs. EWJIJPH.L vs. XM1D.DEIJPH.L vs. ^N225IJPH.L vs. BRK-B
Often compared with CUKX.L:
CUKX.L vs. VUKG.LCUKX.L vs. IUKD.LCUKX.L vs. FTAL.LCUKX.L vs. CSUK.LCUKX.L vs. VUKE.DECUKX.L vs. S100.LCUKX.L vs. CPJ1.L

Return for Risk

IJPH.L vs. CUKX.L — 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: 8585
Overall Rank
IJPH.L Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
IJPH.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
IJPH.L Omega Ratio Rank: 8282
Omega Ratio Rank
IJPH.L Calmar Ratio Rank: 9090
Calmar Ratio Rank
IJPH.L Martin Ratio Rank: 8888
Martin Ratio Rank
CUKX.L
CUKX.L Risk / Return Rank: 5656
Overall Rank
CUKX.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
CUKX.L Sortino Ratio Rank: 5959
Sortino Ratio Rank
CUKX.L Omega Ratio Rank: 6262
Omega Ratio Rank
CUKX.L Calmar Ratio Rank: 5050
Calmar Ratio Rank
CUKX.L Martin Ratio Rank: 5050
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.

IJPH.L vs. CUKX.L - 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 iShares FTSE 100 UCITS ETF (CUKX.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.

IJPH.LCUKX.LDifference
Sharpe ratioReturn per unit of total volatility
2.62
1.97

+0.64

Sortino ratioReturn per unit of downside risk
3.72
2.76

+0.96

Omega ratioGain probability vs. loss probability

1.49

1.37

+0.12

Calmar ratioReturn relative to maximum drawdown

5.41

2.41

+3.00

Martin ratioReturn relative to average drawdown

19.27

8.21

+11.06

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. CUKX.L - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 2.62, which is higher than the CUKX.L Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of IJPH.L and CUKX.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

IJPH.LCUKX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.62

1.97

+0.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.07

0.92

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.60

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.53

+0.20

Drawdowns

IJPH.L vs. CUKX.L - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, roughly equal to the maximum CUKX.L drawdown of -34.50%. Use the drawdown chart below to compare losses from any high point for IJPH.L and CUKX.L.

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Drawdown Indicators

IJPH.LCUKX.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.55%

-34.50%

-0.05%

Max Drawdown (1Y)

Largest decline over 1 year

-9.64%

-8.89%

-0.75%

Max Drawdown (3Y)

Largest decline over 3 years

-21.95%

-12.88%

-9.07%

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

-12.88%

-9.07%

Max Drawdown (10Y)

Largest decline over 10 years

-34.55%

-34.50%

-0.05%

Current Drawdown

Current decline from peak

-0.37%

-4.15%

+3.78%

Average Drawdown

Average peak-to-trough decline

-7.42%

-4.40%

-3.02%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.71%

2.62%

+0.09%

Volatility

IJPH.L vs. CUKX.L - Volatility Comparison

The current volatility for iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) is 3.51%, while iShares FTSE 100 UCITS ETF (CUKX.L) has a volatility of 4.08%. This indicates that IJPH.L experiences smaller price fluctuations and is considered to be less risky than CUKX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJPH.LCUKX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

4.08%

-0.57%

Volatility (6M)

Calculated over the trailing 6-month period

15.39%

9.48%

+5.91%

Volatility (1Y)

Calculated over the trailing 1-year period

19.98%

10.87%

+9.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.01%

12.71%

+6.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.24%

15.08%

+4.16%

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

IJPH.L has a 0.64% expense ratio, which is higher than CUKX.L's 0.07% expense ratio.

Dividends

IJPH.L vs. CUKX.L - Dividend Comparison

Neither IJPH.L nor CUKX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IJPH.L and CUKX.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CUKX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CUKX.L is cheaper with a 0.07% expense ratio, compared with 0.64% for IJPH.L.

IJPH.L tracks MSCI Japan 100% Hedged to GBP Index, while CUKX.L tracks FTSE 100 Index. Their fees differ too: 0.64% for IJPH.L and 0.07% for CUKX.L.

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