IJPH.L vs. EVAL.L

Last updated Jul 16, 2026

IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) and EVAL.L (SPDR MSCI Europe Value UCITS ETF) are both exchange-traded funds - IJPH.L is a Japan Equities fund tracking the MSCI Japan 100% Hedged to GBP Index, while EVAL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR. Both are passively managed. Over the past 10 years, IJPH.L returned 15.19%/yr vs 11.35%/yr for EVAL.L. A 0.56 correlation means they provide meaningful diversification when combined. IJPH.L charges 0.64%/yr vs 0.20%/yr for EVAL.L.

Performance

IJPH.L vs. EVAL.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 SPDR MSCI Europe Value UCITS ETF (EVAL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJPH.L achieves a 22.15% return, which is significantly higher than EVAL.L's 12.38% return. Over the past 10 years, IJPH.L has outperformed EVAL.L with an annualized return of 15.19%, while EVAL.L has yielded a comparatively lower 11.35% annualized return.

IJPH.L

• 1D: -1.00%
• 1M: 1.08%
• 6M: 14.52%
• YTD: 22.15%
• 1Y: 52.01%
• 3Y*: 28.65%
• 5Y*: 21.31%
• 10Y*: 15.19%

EVAL.L

• 1D: -0.18%
• 1M: -0.33%
• 6M: 10.01%
• YTD: 12.38%
• 1Y: 30.45%
• 3Y*: 20.76%
• 5Y*: 14.76%
• 10Y*: 11.35%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF	22.15%	29.37%	23.82%	34.19%	-4.30%	11.94%	9.27%	15.94%	-15.89%	19.45%
EVAL.L SPDR MSCI Europe Value UCITS ETF	12.38%	41.82%	4.36%	11.01%	1.33%	19.13%	-2.54%	16.22%	-13.77%	15.54%

Correlation

The correlation between IJPH.L and EVAL.L is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015	0.56

The correlation between IJPH.L and EVAL.L shifts across timeframes, from 0.42 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

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

Sectors	IJPH.L	EVAL.L
Industrials	24.5%	17.6%
Technology	21.7%	12.3%
Financial Services	17.0%	21.7%
Consumer Cyclical	11.9%	6.6%
Communication Services	8.9%	3.8%
Healthcare	5.6%	12.8%
Basic Materials	3.4%	6.4%
Consumer Defensive	3.3%	8.4%
Real Estate	1.9%	0.7%
Utilities	1.0%	4.6%
Energy	0.9%	5.1%

Return for Risk

IJPH.L vs. EVAL.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: 91
IJPH.L Sharpe Ratio Rank: 91
IJPH.L Sortino Ratio Rank: 90
IJPH.L Omega Ratio Rank: 89
IJPH.L Calmar Ratio Rank: 94
IJPH.L Martin Ratio Rank: 92

EVAL.L

EVAL.L Risk / Return Rank: 81
EVAL.L Sharpe Ratio Rank: 87
EVAL.L Sortino Ratio Rank: 85
EVAL.L Omega Ratio Rank: 86
EVAL.L Calmar Ratio Rank: 73
EVAL.L Martin Ratio Rank: 74

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. EVAL.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 SPDR MSCI Europe Value UCITS ETF (EVAL.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.

	IJPH.L	EVAL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.46	2.27	+0.19
Sortino ratio: Return per unit of downside risk	3.38	3.08	+0.30
Omega ratio: Gain probability vs. loss probability	1.44	1.41	+0.03
Calmar ratio: Return relative to maximum drawdown	5.37	3.00	+2.37
Martin ratio: Return relative to average drawdown	18.17	11.02	+7.15

IJPH.L vs. EVAL.L - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 2.46, which is comparable to the EVAL.L Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IJPH.L and EVAL.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.

Drawdowns

IJPH.L vs. EVAL.L - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, smaller than the maximum EVAL.L drawdown of -40.72%. Use the drawdown chart below to compare losses from any high point for IJPH.L and EVAL.L.

Drawdown Indicators

	IJPH.L	EVAL.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.55%	-40.72%	+6.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-10.10%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-14.34%	-7.61%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-14.61%	-7.34%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	-37.77%	+3.22%
Current Drawdown Current decline from peak	-3.26%	-1.43%	-1.83%
Average Drawdown Average peak-to-trough decline	-7.43%	-11.27%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.76%	+0.09%

Volatility

IJPH.L vs. EVAL.L - Volatility Comparison

iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) has a higher volatility of 6.94% compared to SPDR MSCI Europe Value UCITS ETF (EVAL.L) at 4.04%. This indicates that IJPH.L's price experiences larger fluctuations and is considered to be riskier than EVAL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJPH.L	EVAL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	4.04%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	16.78%	11.21%	+5.57%
Volatility (1Y) Calculated over the trailing 1-year period	21.08%	13.39%	+7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.22%	16.52%	+2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	17.77%	+1.15%

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

IJPH.L has a 0.64% expense ratio, which is higher than EVAL.L's 0.20% expense ratio.

Dividends

IJPH.L vs. EVAL.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IJPH.L and EVAL.L in my portfolio?

IJPH.L and EVAL.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IJPH.L or EVAL.L?

On fees, EVAL.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IJPH.L or EVAL.L?

EVAL.L is cheaper with a 0.20% expense ratio, compared with 0.64% for IJPH.L.

What is the main difference between IJPH.L and EVAL.L?

IJPH.L is categorized as Japan Equities, while EVAL.L is Europe Equities. IJPH.L tracks MSCI Japan 100% Hedged to GBP Index, while EVAL.L tracks MSCI Europe Value NR EUR. They also come from different issuers: iShares and State Street. Their fees differ too: 0.64% for IJPH.L and 0.20% for EVAL.L.