PortfoliosLab logoPortfoliosLab logo

Documentation

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

IJPN.L vs. MXJP.L

Last updated Jun 5, 2026

IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and MXJP.L (Invesco MSCI Japan UCITS ETF) are both Japan Equities funds tracking the TOPIX TR JPY, from iShares and Invesco respectively. Both are passively managed. Over the past 10 years, IJPN.L returned 10.48%/yr vs 10.19%/yr for MXJP.L. Their correlation of 0.88 suggests significant overlap in exposure. IJPN.L charges 0.59%/yr vs 0.19%/yr for MXJP.L.

Performance

IJPN.L vs. MXJP.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 Invesco MSCI Japan UCITS ETF (MXJP.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

IJPN.L is traded in GBp, while MXJP.L is traded in USD. To make them comparable, the MXJP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with IJPN.L having a 16.83% return and MXJP.L slightly lower at 16.68%. Both investments have delivered pretty close results over the past 10 years, with IJPN.L having a 10.48% annualized return and MXJP.L not far behind at 10.19%.

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%

MXJP.L

1D
-0.49%
1M
6.15%
YTD
16.68%
6M
15.34%
1Y
33.91%
3Y*
15.56%
5Y*
10.12%
10Y*
10.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IJPN.L vs. MXJP.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%
MXJP.L
Invesco MSCI Japan UCITS ETF		16.68%16.88%9.09%14.45%-7.26%1.70%12.81%13.62%-8.43%13.44%

Correlation

The correlation between IJPN.L and MXJP.L is 0.95, 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

0.95

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

0.95

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

0.93

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

0.93

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2011

0.88

The correlation between IJPN.L and MXJP.L has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

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

Sectors
IJPN.L
MXJP.L

Industrials

24.8%
26.0%

Technology

20.3%
19.1%

Financial Services

18.2%
17.5%

Consumer Cyclical

11.9%
12.2%

Communication Services

8.7%
7.9%

Healthcare

5.9%
6.3%

Consumer Defensive

3.5%
3.6%

Basic Materials

2.9%
3.0%

Real Estate

1.9%
2.3%

Utilities

1.0%
1.1%

Energy

1.0%
1.1%

Industrials

IJPN.L
24.8%
MXJP.L
26.0%

Technology

IJPN.L
20.3%
MXJP.L
19.1%

Financial Services

IJPN.L
18.2%
MXJP.L
17.5%

Consumer Cyclical

IJPN.L
11.9%
MXJP.L
12.2%

Communication Services

IJPN.L
8.7%
MXJP.L
7.9%

Healthcare

IJPN.L
5.9%
MXJP.L
6.3%

Consumer Defensive

IJPN.L
3.5%
MXJP.L
3.6%

Basic Materials

IJPN.L
2.9%
MXJP.L
3.0%

Real Estate

IJPN.L
1.9%
MXJP.L
2.3%

Utilities

IJPN.L
1.0%
MXJP.L
1.1%

Energy

IJPN.L
1.0%
MXJP.L
1.1%

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)

Invesco MSCI Japan 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 MXJP.L:
MXJP.L vs. LGJG.LMXJP.L vs. VJPA.LMXJP.L vs. SJPA.LMXJP.L vs. LCJP.LMXJP.L vs. DXJP.LMXJP.L vs. DXJA.LMXJP.L vs. GLD

Return for Risk

IJPN.L vs. MXJP.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
MXJP.L
MXJP.L Risk / Return Rank: 4949
Overall Rank
MXJP.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
MXJP.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
MXJP.L Omega Ratio Rank: 4848
Omega Ratio Rank
MXJP.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
MXJP.L Martin Ratio Rank: 5050
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. MXJP.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 Invesco MSCI Japan UCITS ETF (MXJP.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.LMXJP.LDifference
Sharpe ratioReturn per unit of total volatility
1.88
1.74

+0.14

Sortino ratioReturn per unit of downside risk
2.71
2.51

+0.20

Omega ratioGain probability vs. loss probability

1.36

1.33

+0.03

Calmar ratioReturn relative to maximum drawdown

3.22

3.20

+0.03

Martin ratioReturn relative to average drawdown

10.52

10.15

+0.37

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. MXJP.L - Sharpe Ratio Comparison

The current IJPN.L Sharpe Ratio is 1.88, which is comparable to the MXJP.L Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of IJPN.L and MXJP.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...

Sharpe Ratios by Period

IJPN.LMXJP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.88

1.74

+0.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.60

+0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.60

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.57

-0.15

Drawdowns

IJPN.L vs. MXJP.L - Drawdown Comparison

The maximum IJPN.L drawdown since its inception was -39.73%, which is greater than MXJP.L's maximum drawdown of -25.46%. Use the drawdown chart below to compare losses from any high point for IJPN.L and MXJP.L.

Loading charts...

Drawdown Indicators

IJPN.LMXJP.LDifference

Max Drawdown

Largest peak-to-trough decline

-39.73%

-25.46%

-14.27%

Max Drawdown (1Y)

Largest decline over 1 year

-10.80%

-10.56%

-0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-14.09%

-13.90%

-0.19%

Max Drawdown (5Y)

Largest decline over 5 years

-18.57%

-18.56%

-0.01%

Max Drawdown (10Y)

Largest decline over 10 years

-24.34%

-25.46%

+1.12%

Current Drawdown

Current decline from peak

-0.35%

-0.49%

+0.14%

Average Drawdown

Average peak-to-trough decline

-10.09%

-6.08%

-4.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.32%

3.33%

-0.01%

Volatility

IJPN.L vs. MXJP.L - Volatility Comparison

The current volatility for iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) is 3.88%, while Invesco MSCI Japan UCITS ETF (MXJP.L) has a volatility of 4.22%. This indicates that IJPN.L experiences smaller price fluctuations and is considered to be less risky than MXJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IJPN.LMXJP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

4.22%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

15.00%

15.90%

-0.90%

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

19.45%

-0.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.88%

16.79%

-0.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.98%

17.01%

-1.03%

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

IJPN.L has a 0.59% expense ratio, which is higher than MXJP.L's 0.19% expense ratio.

Dividends

IJPN.L vs. MXJP.L - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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%
MXJP.L
Invesco MSCI Japan UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.95, IJPN.L and MXJP.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, MXJP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MXJP.L is cheaper with a 0.19% expense ratio, compared with 0.59% for IJPN.L.

Both ETFs track TOPIX TR JPY. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for IJPN.L and 0.19% for MXJP.L.

Portfolio Optimizer

Find the right allocation for IJPN.L and MXJP.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