IJPN.L vs. CJPU.L
IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds from iShares - IJPN.L tracks the TOPIX TR JPY while CJPU.L tracks the MSCI Japan Index (Net). Both are passively managed. Over the past 10 years, IJPN.L returned 8.11%/yr vs 8.56%/yr for CJPU.L. A 0.71 correlation means they provide meaningful diversification when combined. IJPN.L charges 0.59%/yr vs 0.12%/yr for CJPU.L.
Performance
IJPN.L vs. CJPU.L - Performance Comparison
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Different Trading Currencies
IJPN.L is traded in GBp, while CJPU.L is traded in USD. To make them comparable, the CJPU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IJPN.L achieves a 11.72% return, which is significantly lower than CJPU.L's 12.60% return. Over the past 10 years, IJPN.L has underperformed CJPU.L with an annualized return of 8.11%, while CJPU.L has yielded a comparatively higher 8.56% annualized return.
IJPN.L
- 1D
- -2.12%
- 1M
- -6.09%
- 6M
- 5.74%
- YTD
- 11.72%
- 1Y
- 28.88%
- 3Y*
- 14.69%
- 5Y*
- 8.77%
- 10Y*
- 8.11%
CJPU.L
- 1D
- -2.34%
- 1M
- -6.86%
- 6M
- 5.58%
- YTD
- 12.60%
- 1Y
- 30.09%
- 3Y*
- 14.94%
- 5Y*
- 9.18%
- 10Y*
- 8.56%
IJPN.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 11.72% | 17.49% | 8.73% | 13.10% | -7.90% | 1.42% | 11.56% | 13.61% | -9.14% | 12.52% |
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.60% | 17.14% | 9.20% | 14.24% | -7.49% | 1.45% | 12.67% | 13.16% | -8.37% | 13.37% |
Correlation
The correlation between IJPN.L and CJPU.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2010 | 0.71 |
Over the past year, IJPN.L and CJPU.L have become more correlated (0.96) than their long-term average of 0.71, meaning their price movements have been converging.
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Return for Risk
IJPN.L vs. CJPU.L — Risk / Return Rank
IJPN.L
CJPU.L
IJPN.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.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.
| IJPN.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 2.84 | -0.18 |
| Martin ratioReturn relative to average drawdown | 8.12 | 8.61 | -0.49 |
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Drawdowns
IJPN.L vs. CJPU.L - Drawdown Comparison
The maximum IJPN.L drawdown since its inception was -36.06%, which is greater than CJPU.L's maximum drawdown of -24.62%. Use the drawdown chart below to compare losses from any high point for IJPN.L and CJPU.L.
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Drawdown Indicators
| IJPN.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.06% | -24.62% | -11.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.80% | -10.54% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -14.09% | -14.29% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -18.87% | -18.51% | -0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -24.34% | -24.62% | +0.28% |
Current DrawdownCurrent decline from peak | -8.45% | -8.44% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -9.92% | -6.35% | -3.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.55% | 3.49% | +0.06% |
Volatility
IJPN.L vs. CJPU.L - Volatility Comparison
iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) have volatilities of 6.69% and 6.83%, 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
| IJPN.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.69% | 6.83% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 16.52% | 17.53% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.82% | 20.79% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 17.07% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.03% | 16.77% | -0.74% |
IJPN.L vs. CJPU.L - Expense Ratio Comparison
IJPN.L has a 0.59% expense ratio, which is higher than CJPU.L's 0.12% expense ratio.
Dividends
IJPN.L vs. CJPU.L - Dividend Comparison
IJPN.L's dividend yield for the trailing twelve months is around 0.83%, while CJPU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IJPN.L iShares MSCI Japan UCITS ETF (Dist) | 0.83% | 1.76% | 1.36% | 1.06% | 1.24% | 0.89% | 1.02% | 1.11% | 1.05% | 0.90% | 0.83% | 0.41% |
Frequently Asked Questions
With a correlation of 0.96, IJPN.L and CJPU.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.
On fees, CJPU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CJPU.L is cheaper with a 0.12% expense ratio, compared with 0.59% for IJPN.L.
IJPN.L tracks TOPIX TR JPY, while CJPU.L tracks MSCI Japan Index (Net). Their fees differ too: 0.59% for IJPN.L and 0.12% for CJPU.L.
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