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

IJPH.L vs. IJPE.L

Last updated Jun 5, 2026

IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) and IJPE.L (iShares MSCI Japan EUR Hedged UCITS ETF Accumulating) are both Japan Equities funds from iShares - IJPH.L tracks the MSCI Japan 100% Hedged to GBP Index while IJPE.L tracks the MSCI Japan Index. Both are passively managed. Over the past 10 years, IJPH.L returned 14.77%/yr vs 14.88%/yr for IJPE.L. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.64% expense ratio.

Performance

IJPH.L vs. IJPE.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 EUR Hedged UCITS ETF Accumulating (IJPE.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 IJPE.L is traded in EUR. To make them comparable, the IJPE.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 IJPE.L's 18.01% return. Both investments have delivered pretty close results over the past 10 years, with IJPH.L having a 14.77% annualized return and IJPE.L not far ahead at 14.88%.

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%

IJPE.L

1D
-0.29%
1M
6.93%
YTD
18.01%
6M
19.21%
1Y
53.24%
3Y*
26.63%
5Y*
19.09%
10Y*
14.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJPH.L vs. IJPE.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%
IJPE.L
iShares MSCI Japan EUR Hedged UCITS ETF Accumulating		18.01%34.15%16.52%30.17%-0.54%4.85%15.09%8.84%-16.11%23.82%

Correlation

The correlation between IJPH.L and IJPE.L is 0.90, 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

0.90

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

0.93

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

0.91

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

0.89

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

0.89

The correlation between IJPH.L and IJPE.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

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

Sectors
IJPH.L
IJPE.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%
IJPE.L
26.0%

Technology

IJPH.L
19.1%
IJPE.L
19.1%

Financial Services

IJPH.L
17.5%
IJPE.L
17.5%

Consumer Cyclical

IJPH.L
12.2%
IJPE.L
12.2%

Communication Services

IJPH.L
7.9%
IJPE.L
7.9%

Healthcare

IJPH.L
6.3%
IJPE.L
6.3%

Consumer Defensive

IJPH.L
3.6%
IJPE.L
3.6%

Basic Materials

IJPH.L
3.0%
IJPE.L
3.0%

Real Estate

IJPH.L
2.3%
IJPE.L
2.3%

Utilities

IJPH.L
1.1%
IJPE.L
1.1%

Energy

IJPH.L
1.1%
IJPE.L
1.1%

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iShares MSCI Japan GBP Hedged UCITS ETF

iShares MSCI Japan EUR 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 IJPE.L:
IJPE.L vs. IJPA.LIJPE.L vs. IJPD.LIJPE.L vs. EUNN.DEIJPE.L vs. HPJS.LIJPE.L vs. PAJS.LIJPE.L vs. JARI.LIJPE.L vs. XDJP.L

Return for Risk

IJPH.L vs. IJPE.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
IJPE.L
IJPE.L Risk / Return Rank: 8383
Overall Rank
IJPE.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IJPE.L Sortino Ratio Rank: 8282
Sortino Ratio Rank
IJPE.L Omega Ratio Rank: 8181
Omega Ratio Rank
IJPE.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
IJPE.L Martin Ratio Rank: 8585
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. IJPE.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 EUR Hedged UCITS ETF Accumulating (IJPE.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.LIJPE.LDifference
Sharpe ratioReturn per unit of total volatility
2.62
2.75

-0.13

Sortino ratioReturn per unit of downside risk
3.72
3.73

-0.01

Omega ratioGain probability vs. loss probability

1.49

1.51

-0.02

Calmar ratioReturn relative to maximum drawdown

5.41

4.99

+0.42

Martin ratioReturn relative to average drawdown

19.27

16.72

+2.55

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. IJPE.L - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 2.62, which is comparable to the IJPE.L Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of IJPH.L and IJPE.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.LIJPE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.62

2.75

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.07

1.02

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.79

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.73

0.55

+0.18

Drawdowns

IJPH.L vs. IJPE.L - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, roughly equal to the maximum IJPE.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for IJPH.L and IJPE.L.

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Drawdown Indicators

IJPH.LIJPE.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.55%

-33.89%

-0.66%

Max Drawdown (1Y)

Largest decline over 1 year

-9.64%

-10.61%

+0.97%

Max Drawdown (3Y)

Largest decline over 3 years

-21.95%

-20.17%

-1.78%

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

-20.17%

-1.78%

Max Drawdown (10Y)

Largest decline over 10 years

-34.55%

-33.89%

-0.66%

Current Drawdown

Current decline from peak

-0.37%

-0.29%

-0.08%

Average Drawdown

Average peak-to-trough decline

-7.42%

-8.51%

+1.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.71%

3.18%

-0.47%

Volatility

IJPH.L vs. IJPE.L - Volatility Comparison

The current volatility for iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) is 3.51%, while iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) has a volatility of 3.89%. This indicates that IJPH.L experiences smaller price fluctuations and is considered to be less risky than IJPE.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.LIJPE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

3.89%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

15.39%

15.06%

+0.33%

Volatility (1Y)

Calculated over the trailing 1-year period

19.98%

19.29%

+0.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.01%

18.65%

+0.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.24%

18.81%

+0.43%

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

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

Dividends

IJPH.L vs. IJPE.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.90, IJPH.L and IJPE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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 IJPE.L have the same expense ratio: 0.64% per year.

IJPH.L tracks MSCI Japan 100% Hedged to GBP Index, while IJPE.L tracks MSCI Japan Index.

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