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IJPN.L vs. CNDX.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJPN.L vs. CNDX.L

Last updated Jun 5, 2026

IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and CNDX.L (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - IJPN.L is a Japan Equities fund tracking the TOPIX TR JPY, while CNDX.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, IJPN.L returned 10.48%/yr vs 22.61%/yr for CNDX.L. A 0.51 correlation means they provide meaningful diversification when combined. IJPN.L charges 0.59%/yr vs 0.33%/yr for CNDX.L.

Performance

IJPN.L vs. CNDX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) and iShares NASDAQ 100 UCITS ETF (CNDX.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IJPN.L is traded in GBp, while CNDX.L is traded in USD. To make them comparable, the CNDX.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 16.83% return, which is significantly lower than CNDX.L's 20.90% return. Over the past 10 years, IJPN.L has underperformed CNDX.L with an annualized return of 10.48%, while CNDX.L has yielded a comparatively higher 22.61% annualized return.

IJPN.L

1D
-0.35%
1M
6.24%
YTD
16.83%
6M
16.02%
1Y
34.98%
3Y*
16.17%
5Y*
10.52%
10Y*
10.48%

CNDX.L

1D
0.00%
1M
10.21%
YTD
20.90%
6M
19.02%
1Y
42.53%
3Y*
25.03%
5Y*
19.03%
10Y*
22.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJPN.L vs. CNDX.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		16.83%18.18%9.39%14.03%-7.13%2.20%12.46%14.55%-8.45%13.27%
CNDX.L
iShares NASDAQ 100 UCITS ETF		20.14%11.22%28.66%48.50%-25.54%29.17%43.97%32.82%4.84%20.91%

Correlation

The correlation between IJPN.L and CNDX.L is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.45

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

0.43

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

0.46

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

0.55

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2010

0.51

The correlation between IJPN.L and CNDX.L shifts across timeframes, from 0.43 (3 years) to 0.55 (10 years), reflecting how their relationship changes across market environments.

IJPN.L vs. CNDX.L - Sectors Allocation Comparison

Sectors
IJPN.L
CNDX.L

Industrials

24.8%
2.8%

Technology

20.3%
57.3%

Financial Services

18.2%
0.2%

Consumer Cyclical

11.9%
11.6%

Communication Services

8.7%
14.5%

Healthcare

5.9%
3.8%

Consumer Defensive

3.5%
6.9%

Basic Materials

2.9%
1.1%

Real Estate

1.9%
0.1%

Utilities

1.0%
1.3%

Energy

1.0%
0.5%

Industrials

IJPN.L
24.8%
CNDX.L
2.8%

Technology

IJPN.L
20.3%
CNDX.L
57.3%

Financial Services

IJPN.L
18.2%
CNDX.L
0.2%

Consumer Cyclical

IJPN.L
11.9%
CNDX.L
11.6%

Communication Services

IJPN.L
8.7%
CNDX.L
14.5%

Healthcare

IJPN.L
5.9%
CNDX.L
3.8%

Consumer Defensive

IJPN.L
3.5%
CNDX.L
6.9%

Basic Materials

IJPN.L
2.9%
CNDX.L
1.1%

Real Estate

IJPN.L
1.9%
CNDX.L
0.1%

Utilities

IJPN.L
1.0%
CNDX.L
1.3%

Energy

IJPN.L
1.0%
CNDX.L
0.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Japan UCITS ETF (Dist)

iShares NASDAQ 100 UCITS ETF

Often compared with IJPN.L:
IJPN.L vs. EWJIJPN.L vs. CSJP.LIJPN.L vs. VJPU.LIJPN.L vs. ICHN.ASIJPN.L vs. WLDL.LIJPN.L vs. IWRD.ASIJPN.L vs. XESC.DE
Often compared with CNDX.L:
CNDX.L vs. QQQCNDX.L vs. EQQQ.DECNDX.L vs. SXRV.DECNDX.L vs. CNX1.LCNDX.L vs. CSPX.LCNDX.L vs. EQQU.LCNDX.L vs. VWRA.L

Return for Risk

IJPN.L vs. CNDX.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IJPN.L
IJPN.L Risk / Return Rank: 6060
Overall Rank
IJPN.L Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
IJPN.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
IJPN.L Omega Ratio Rank: 5959
Omega Ratio Rank
IJPN.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
IJPN.L Martin Ratio Rank: 6060
Martin Ratio Rank
CNDX.L
CNDX.L Risk / Return Rank: 7575
Overall Rank
CNDX.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
CNDX.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
CNDX.L Omega Ratio Rank: 7474
Omega Ratio Rank
CNDX.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
CNDX.L Martin Ratio Rank: 7171
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.

IJPN.L vs. CNDX.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 NASDAQ 100 UCITS ETF (CNDX.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.

IJPN.LCNDX.LDifference
Sharpe ratioReturn per unit of total volatility
1.88
2.66

-0.78

Sortino ratioReturn per unit of downside risk
2.71
3.56

-0.84

Omega ratioGain probability vs. loss probability

1.36

1.47

-0.12

Calmar ratioReturn relative to maximum drawdown

3.22

3.77

-0.55

Martin ratioReturn relative to average drawdown

10.52

10.74

-0.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJPN.L vs. CNDX.L - Sharpe Ratio Comparison

The current IJPN.L Sharpe Ratio is 1.88, which is comparable to the CNDX.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IJPN.L and CNDX.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

IJPN.LCNDX.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.88

2.66

-0.78

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.94

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

1.12

-0.46

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

1.17

-0.76

Drawdowns

IJPN.L vs. CNDX.L - Drawdown Comparison

The maximum IJPN.L drawdown since its inception was -39.73%, which is greater than CNDX.L's maximum drawdown of -27.74%. Use the drawdown chart below to compare losses from any high point for IJPN.L and CNDX.L.

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Drawdown Indicators

IJPN.LCNDX.LDifference

Max Drawdown

Largest peak-to-trough decline

-39.73%

-27.74%

-11.99%

Max Drawdown (1Y)

Largest decline over 1 year

-10.80%

-11.11%

+0.31%

Max Drawdown (3Y)

Largest decline over 3 years

-14.09%

-24.37%

+10.28%

Max Drawdown (5Y)

Largest decline over 5 years

-18.57%

-27.74%

+9.17%

Max Drawdown (10Y)

Largest decline over 10 years

-24.34%

-27.74%

+3.40%

Current Drawdown

Current decline from peak

-0.35%

0.00%

-0.35%

Average Drawdown

Average peak-to-trough decline

-10.09%

-4.72%

-5.37%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.32%

3.93%

-0.61%

Volatility

IJPN.L vs. CNDX.L - Volatility Comparison

The current volatility for iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) is 3.88%, while iShares NASDAQ 100 UCITS ETF (CNDX.L) has a volatility of 4.87%. This indicates that IJPN.L experiences smaller price fluctuations and is considered to be less risky than CNDX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IJPN.LCNDX.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

4.87%

-0.99%

Volatility (6M)

Calculated over the trailing 6-month period

15.00%

11.61%

+3.39%

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

15.74%

+2.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.88%

20.08%

-4.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.98%

20.20%

-4.22%

IJPN.L vs. CNDX.L - Expense Ratio Comparison

IJPN.L has a 0.59% expense ratio, which is higher than CNDX.L's 0.33% expense ratio.

Dividends

IJPN.L vs. CNDX.L - Dividend Comparison

IJPN.L's dividend yield for the trailing twelve months is around 2.03%, while CNDX.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
CNDX.L
iShares NASDAQ 100 UCITS ETF		0.00%0.00%0.02%0.05%0.06%0.03%0.04%0.07%0.06%0.30%0.16%0.16%
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		2.03%2.25%1.95%1.81%2.10%1.66%1.75%1.90%1.89%1.53%1.55%0.87%

Frequently Asked Questions

IJPN.L and CNDX.L have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CNDX.L is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CNDX.L is cheaper with a 0.33% expense ratio, compared with 0.59% for IJPN.L.

IJPN.L is categorized as Japan Equities, while CNDX.L is Nasdaq-100. IJPN.L tracks TOPIX TR JPY, while CNDX.L tracks NASDAQ-100 Index. Their fees differ too: 0.59% for IJPN.L and 0.33% for CNDX.L.

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