IJPH.L vs. SWDA.L

Last updated Jun 5, 2026

IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IJPH.L is a Japan Equities fund tracking the MSCI Japan 100% Hedged to GBP Index, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IJPH.L returned 14.77%/yr vs 13.91%/yr for SWDA.L. A 0.63 correlation means they provide meaningful diversification when combined. IJPH.L charges 0.64%/yr vs 0.20%/yr for SWDA.L.

Performance

IJPH.L vs. SWDA.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 Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IJPH.L is traded in GBP, while SWDA.L is traded in GBp. To make them comparable, the SWDA.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 SWDA.L's 10.08% return. Over the past 10 years, IJPH.L has outperformed SWDA.L with an annualized return of 14.77%, while SWDA.L has yielded a comparatively lower 13.91% 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%

SWDA.L

• 1D: 0.15%
• 1M: 3.75%
• YTD: 10.08%
• 6M: 9.92%
• 1Y: 27.16%
• 3Y*: 17.68%
• 5Y*: 13.06%
• 10Y*: 13.91%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	10.08%	12.64%	21.11%	17.59%	-8.33%	23.64%	12.25%	23.03%	-3.78%	11.78%

Correlation

The correlation between IJPH.L and SWDA.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Aug 2, 2012	0.63

The correlation between IJPH.L and SWDA.L has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

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

Sectors	IJPH.L	SWDA.L
Industrials	26.0%	10.9%
Technology	19.1%	30.0%
Financial Services	17.5%	15.4%
Consumer Cyclical	12.2%	9.0%
Communication Services	7.9%	9.2%
Healthcare	6.3%	8.7%
Consumer Defensive	3.6%	5.2%
Basic Materials	3.0%	3.2%
Real Estate	2.3%	1.8%
Utilities	1.1%	2.5%
Energy	1.1%	4.2%

Return for Risk

IJPH.L vs. SWDA.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: 85
IJPH.L Sharpe Ratio Rank: 82
IJPH.L Sortino Ratio Rank: 84
IJPH.L Omega Ratio Rank: 82
IJPH.L Calmar Ratio Rank: 90
IJPH.L Martin Ratio Rank: 88

SWDA.L

SWDA.L Risk / Return Rank: 83
SWDA.L Sharpe Ratio Rank: 83
SWDA.L Sortino Ratio Rank: 83
SWDA.L Omega Ratio Rank: 84
SWDA.L Calmar Ratio Rank: 81
SWDA.L Martin Ratio Rank: 83

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. SWDA.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 Core MSCI World UCITS ETF USD (Acc) (SWDA.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.L	SWDA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.66	-0.05
Sortino ratio: Return per unit of downside risk	3.72	3.69	+0.02
Omega ratio: Gain probability vs. loss probability	1.49	1.51	-0.02
Calmar ratio: Return relative to maximum drawdown	5.41	4.14	+1.27
Martin ratio: Return relative to average drawdown	19.27	16.55	+2.71
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. SWDA.L - Sharpe Ratio Comparison

The current IJPH.L Sharpe Ratio is 2.62, which is comparable to the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IJPH.L and SWDA.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.

Sharpe Ratios by Period

	IJPH.L	SWDA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.66	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.98	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.96	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.88	-0.15

Drawdowns

IJPH.L vs. SWDA.L - Drawdown Comparison

The maximum IJPH.L drawdown since its inception was -34.55%, which is greater than SWDA.L's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for IJPH.L and SWDA.L.

Drawdown Indicators

	IJPH.L	SWDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.55%	-25.58%	-8.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-6.55%	-3.09%
Max Drawdown (3Y) Largest decline over 3 years	-21.95%	-18.50%	-3.45%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-18.50%	-3.45%
Max Drawdown (10Y) Largest decline over 10 years	-34.55%	-25.58%	-8.97%
Current Drawdown Current decline from peak	-0.37%	-0.10%	-0.27%
Average Drawdown Average peak-to-trough decline	-7.42%	-3.49%	-3.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	1.64%	+1.07%

Volatility

IJPH.L vs. SWDA.L - Volatility Comparison

iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) has a higher volatility of 3.51% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that IJPH.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJPH.L	SWDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	2.52%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	15.39%	7.29%	+8.10%
Volatility (1Y) Calculated over the trailing 1-year period	19.98%	10.19%	+9.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	13.30%	+5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.24%	14.50%	+4.74%

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

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

Dividends

IJPH.L vs. SWDA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

IJPH.L and SWDA.L have a correlation of 0.61, 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 SWDA.L?

On fees, SWDA.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 SWDA.L?

SWDA.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 SWDA.L?

IJPH.L is categorized as Japan Equities, while SWDA.L is Global Equities. IJPH.L tracks MSCI Japan 100% Hedged to GBP Index, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.64% for IJPH.L and 0.20% for SWDA.L.