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

IJPH.L vs. IJPD.L

Last updated Jun 5, 2026

IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) and IJPD.L (iShares MSCI Japan USD Hedged UCITS ETF Accumulating) are both Japan Equities funds from iShares - IJPH.L tracks the MSCI Japan 100% Hedged to GBP Index while IJPD.L tracks the MSCI Japan 100% Hedged to USD Net TR Index. Both are passively managed. Over the past 10 years, IJPH.L returned 14.77%/yr vs 16.90%/yr for IJPD.L. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.64% expense ratio.

Performance

IJPH.L vs. IJPD.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 MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.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 IJPD.L is traded in USD. To make them comparable, the IJPD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with IJPH.L having a 19.91% return and IJPD.L slightly higher at 20.63%. Over the past 10 years, IJPH.L has underperformed IJPD.L with an annualized return of 14.77%, while IJPD.L has yielded a comparatively higher 16.90% annualized return.

IJPH.L

1D
-0.37%
1M
6.95%
YTD
19.91%
6M
21.68%
1Y
52.45%
3Y*
28.46%
5Y*
20.45%
10Y*
14.77%

IJPD.L

1D
-0.42%
1M
7.82%
YTD
20.63%
6M
21.12%
1Y
54.42%
3Y*
25.56%
5Y*
22.39%
10Y*
16.90%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJPH.L vs. IJPD.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%
IJPD.L
iShares MSCI Japan USD Hedged UCITS ETF Accumulating		20.63%19.85%26.31%28.81%8.45%13.28%7.55%14.22%-9.17%10.36%

Correlation

The correlation between IJPH.L and IJPD.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.87

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

0.88

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

0.84

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

0.84

Correlation (All Time)
Calculated using the full available price history since Oct 8, 2013

0.86

The correlation between IJPH.L and IJPD.L has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

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

Sectors
IJPH.L
IJPD.L

Industrials

26.0%
26.0%

Technology

19.1%
19.1%

Financial Services

17.5%
17.5%

Consumer Cyclical

12.2%
12.2%

Communication Services

7.9%
7.9%

Healthcare

6.3%
6.3%

Consumer Defensive

3.6%
3.6%

Basic Materials

3.0%
3.0%

Real Estate

2.3%
2.3%

Utilities

1.1%
1.1%

Energy

1.1%
1.1%

Industrials

IJPH.L
26.0%
IJPD.L
26.0%

Technology

IJPH.L
19.1%
IJPD.L
19.1%

Financial Services

IJPH.L
17.5%
IJPD.L
17.5%

Consumer Cyclical

IJPH.L
12.2%
IJPD.L
12.2%

Communication Services

IJPH.L
7.9%
IJPD.L
7.9%

Healthcare

IJPH.L
6.3%
IJPD.L
6.3%

Consumer Defensive

IJPH.L
3.6%
IJPD.L
3.6%

Basic Materials

IJPH.L
3.0%
IJPD.L
3.0%

Real Estate

IJPH.L
2.3%
IJPD.L
2.3%

Utilities

IJPH.L
1.1%
IJPD.L
1.1%

Energy

IJPH.L
1.1%
IJPD.L
1.1%

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iShares MSCI Japan GBP Hedged UCITS ETF

iShares MSCI Japan USD Hedged UCITS ETF Accumulating

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 IJPD.L:
IJPD.L vs. IJPA.LIJPD.L vs. CSKR.LIJPD.L vs. IJPE.LIJPD.L vs. IUVL.LIJPD.L vs. GLDIJPD.L vs. EUNL.DEIJPD.L vs. EUNN.DE

Return for Risk

IJPH.L vs. IJPD.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
IJPD.L
IJPD.L Risk / Return Rank: 8787
Overall Rank
IJPD.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
IJPD.L Sortino Ratio Rank: 8686
Sortino Ratio Rank
IJPD.L Omega Ratio Rank: 8585
Omega Ratio Rank
IJPD.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
IJPD.L Martin Ratio Rank: 8989
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. IJPD.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 MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.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.LIJPD.LDifference
Sharpe ratioReturn per unit of total volatility
2.62
2.74

-0.12

Sortino ratioReturn per unit of downside risk
3.72
3.68

+0.04

Omega ratioGain probability vs. loss probability

1.49

1.50

-0.01

Calmar ratioReturn relative to maximum drawdown

5.41

6.35

-0.94

Martin ratioReturn relative to average drawdown

19.27

20.85

-1.58

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. IJPD.L - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 2.62, which is comparable to the IJPD.L Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of IJPH.L and IJPD.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.LIJPD.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.62

2.74

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.07

1.17

-0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.86

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.73

+0.01

Drawdowns

IJPH.L vs. IJPD.L - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, which is greater than IJPD.L's maximum drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for IJPH.L and IJPD.L.

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Drawdown Indicators

IJPH.LIJPD.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.55%

-28.78%

-5.77%

Max Drawdown (1Y)

Largest decline over 1 year

-9.64%

-8.52%

-1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-21.95%

-21.36%

-0.59%

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

-21.36%

-0.59%

Max Drawdown (10Y)

Largest decline over 10 years

-34.55%

-28.78%

-5.77%

Current Drawdown

Current decline from peak

-0.37%

-0.42%

+0.05%

Average Drawdown

Average peak-to-trough decline

-7.42%

-5.38%

-2.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.71%

2.60%

+0.11%

Volatility

IJPH.L vs. IJPD.L - Volatility Comparison

iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) and iShares MSCI Japan USD Hedged UCITS ETF Accumulating (IJPD.L) have volatilities of 3.51% and 3.47%, 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

IJPH.LIJPD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

3.47%

+0.04%

Volatility (6M)

Calculated over the trailing 6-month period

15.39%

15.28%

+0.11%

Volatility (1Y)

Calculated over the trailing 1-year period

19.98%

19.81%

+0.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.01%

19.18%

-0.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.24%

19.68%

-0.44%

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

Both IJPH.L and IJPD.L have an expense ratio of 0.64%.

Dividends

IJPH.L vs. IJPD.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

IJPH.L and IJPD.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.64% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

IJPH.L and IJPD.L have the same expense ratio: 0.64% per year.

IJPH.L tracks MSCI Japan 100% Hedged to GBP Index, while IJPD.L tracks MSCI Japan 100% Hedged to USD Net TR Index.

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