PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IJPN.L vs. JPNL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IJPN.L vs. JPNL.L

Last updated Jun 27, 2026

IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) are both Japan Equities funds tracking the TOPIX TR JPY, from iShares and Amundi respectively. Both are passively managed. Over the past 10 years, IJPN.L returned 9.31%/yr vs 9.23%/yr for JPNL.L. A 0.72 correlation means they provide meaningful diversification when combined. IJPN.L charges 0.59%/yr vs 0.45%/yr for JPNL.L.

Performance

IJPN.L vs. JPNL.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 Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IJPN.L achieves a 18.29% return, which is significantly higher than JPNL.L's 16.19% return. Both investments have delivered pretty close results over the past 10 years, with IJPN.L having a 9.31% annualized return and JPNL.L not far behind at 9.23%.

IJPN.L

1D
-0.77%
1M
3.31%
YTD
18.29%
6M
18.43%
1Y
37.48%
3Y*
17.28%
5Y*
9.88%
10Y*
9.31%

JPNL.L

1D
-0.35%
1M
2.19%
YTD
16.19%
6M
16.37%
1Y
34.20%
3Y*
16.67%
5Y*
9.70%
10Y*
9.23%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		18.29%17.49%8.73%13.10%-7.90%1.42%11.56%13.61%-9.14%12.52%
JPNL.L
Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR		16.19%17.96%7.75%13.02%-5.78%0.85%10.24%13.26%-9.85%14.89%

Correlation

The correlation between IJPN.L and JPNL.L is 0.98 - 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

0.98

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

0.98

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2008

0.72

Over the past year, IJPN.L and JPNL.L have become more correlated (0.98) than their long-term average of 0.72, meaning their price movements have been converging.

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

Sectors
IJPN.L
JPNL.L

Industrials

23.3%
25.4%

Technology

22.2%
18.7%

Financial Services

18.4%
17.8%

Consumer Cyclical

11.5%
12.1%

Communication Services

8.8%
8.0%

Healthcare

5.4%
5.4%

Consumer Defensive

3.4%
4.2%

Basic Materials

3.0%
4.5%

Real Estate

1.9%
1.9%

Utilities

1.0%
1.2%

Energy

0.9%
0.9%

Industrials

IJPN.L
23.3%
JPNL.L
25.4%

Technology

IJPN.L
22.2%
JPNL.L
18.7%

Financial Services

IJPN.L
18.4%
JPNL.L
17.8%

Consumer Cyclical

IJPN.L
11.5%
JPNL.L
12.1%

Communication Services

IJPN.L
8.8%
JPNL.L
8.0%

Healthcare

IJPN.L
5.4%
JPNL.L
5.4%

Consumer Defensive

IJPN.L
3.4%
JPNL.L
4.2%

Basic Materials

IJPN.L
3.0%
JPNL.L
4.5%

Real Estate

IJPN.L
1.9%
JPNL.L
1.9%

Utilities

IJPN.L
1.0%
JPNL.L
1.2%

Energy

IJPN.L
0.9%
JPNL.L
0.9%

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)

Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR

Often compared with IJPN.L:
IJPN.L vs. EWJIJPN.L vs. CSJP.LIJPN.L vs. VJPU.LIJPN.L vs. WLDL.LIJPN.L vs. ICHN.ASIJPN.L vs. IWRD.ASIJPN.L vs. XESC.DE
Often compared with JPNL.L:
JPNL.L vs. TPXG.LJPNL.L vs. JPXNJPNL.L vs. QQQJPNL.L vs. VOOJPNL.L vs. VTJPNL.L vs. ^GSPCJPNL.L vs. ^N225

Return for Risk

IJPN.L vs. JPNL.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: 7171
Overall Rank
IJPN.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
IJPN.L Sortino Ratio Rank: 6868
Sortino Ratio Rank
IJPN.L Omega Ratio Rank: 7070
Omega Ratio Rank
IJPN.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
IJPN.L Martin Ratio Rank: 7070
Martin Ratio Rank
JPNL.L
JPNL.L Risk / Return Rank: 6868
Overall Rank
JPNL.L Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
JPNL.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
JPNL.L Omega Ratio Rank: 7070
Omega Ratio Rank
JPNL.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
JPNL.L Martin Ratio Rank: 6464
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. JPNL.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 Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.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.LJPNL.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
1.90

+0.03

Sortino ratioReturn per unit of downside risk
2.70
2.63

+0.07

Omega ratioGain probability vs. loss probability

1.36

1.36

0.00

Calmar ratioReturn relative to maximum drawdown

3.46

3.20

+0.25

Martin ratioReturn relative to average drawdown

11.12

10.07

+1.05

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

The current IJPN.L Sharpe Ratio is 1.93, which is comparable to the JPNL.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of IJPN.L and JPNL.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.

Loading charts...

Drawdowns

IJPN.L vs. JPNL.L - Drawdown Comparison

The maximum IJPN.L drawdown since its inception was -36.06%, smaller than the maximum JPNL.L drawdown of -38.87%. Use the drawdown chart below to compare losses from any high point for IJPN.L and JPNL.L.

Loading charts...

Drawdown Indicators

IJPN.LJPNL.LDifference

Max Drawdown

Largest peak-to-trough decline

-36.06%

-38.87%

+2.81%

Max Drawdown (1Y)

Largest decline over 1 year

-10.80%

-10.63%

-0.17%

Max Drawdown (3Y)

Largest decline over 3 years

-14.09%

-13.44%

-0.65%

Max Drawdown (5Y)

Largest decline over 5 years

-18.87%

-18.80%

-0.07%

Max Drawdown (10Y)

Largest decline over 10 years

-24.34%

-25.42%

+1.08%

Current Drawdown

Current decline from peak

-3.85%

-2.90%

-0.95%

Average Drawdown

Average peak-to-trough decline

-9.91%

-10.52%

+0.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

3.38%

-0.03%

Volatility

IJPN.L vs. JPNL.L - Volatility Comparison

iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) has a higher volatility of 6.67% compared to Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) at 5.37%. This indicates that IJPN.L's price experiences larger fluctuations and is considered to be riskier than JPNL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IJPN.LJPNL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.67%

5.37%

+1.30%

Volatility (6M)

Calculated over the trailing 6-month period

16.02%

14.82%

+1.20%

Volatility (1Y)

Calculated over the trailing 1-year period

19.37%

17.93%

+1.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.09%

15.49%

+0.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.99%

15.80%

+0.19%

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

IJPN.L has a 0.59% expense ratio, which is higher than JPNL.L's 0.45% expense ratio.

Dividends

IJPN.L vs. JPNL.L - Dividend Comparison

IJPN.L's dividend yield for the trailing twelve months is around 1.49%, more than JPNL.L's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
IJPN.L
iShares MSCI Japan UCITS ETF (Dist)		1.49%1.76%1.36%1.06%1.24%0.89%1.02%1.11%1.05%0.90%0.83%0.41%
JPNL.L
Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR		0.62%0.71%0.73%1.23%1.83%1.37%1.14%2.01%1.84%1.43%1.97%1.77%

Frequently Asked Questions

With a correlation of 0.98, IJPN.L and JPNL.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, JPNL.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

JPNL.L is cheaper with a 0.45% expense ratio, compared with 0.59% for IJPN.L.

Both ETFs track TOPIX TR JPY. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.59% for IJPN.L and 0.45% for JPNL.L.

Portfolio Optimizer

Find the right allocation for IJPN.L and JPNL.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer