IJPN.L vs. XMBR.L

Last updated Jul 18, 2026

IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) and XMBR.L (Xtrackers MSCI Brazil UCITS ETF 1C) are both exchange-traded funds - IJPN.L is a Japan Equities fund tracking the TOPIX TR JPY, while XMBR.L is a Latin America Equities fund tracking the MSCI Brazil NR USD. Both are passively managed. Over the past 10 years, IJPN.L returned 8.11%/yr vs 6.16%/yr for XMBR.L. At a 0.39 correlation, their price movements are largely independent. IJPN.L charges 0.59%/yr vs 0.65%/yr for XMBR.L.

Performance

IJPN.L vs. XMBR.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 Xtrackers MSCI Brazil UCITS ETF 1C (XMBR.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IJPN.L having a 11.72% return and XMBR.L slightly higher at 12.22%. Over the past 10 years, IJPN.L has outperformed XMBR.L with an annualized return of 8.11%, while XMBR.L has yielded a comparatively lower 6.16% 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%

XMBR.L

• 1D: -0.56%
• 1M: 0.59%
• 6M: 7.74%
• YTD: 12.22%
• 1Y: 34.03%
• 3Y*: 8.65%
• 5Y*: 6.09%
• 10Y*: 6.16%

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

IJPN.L vs. XMBR.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%
XMBR.L Xtrackers MSCI Brazil UCITS ETF 1C	12.22%	38.26%	-28.61%	25.42%	25.85%	-17.12%	-21.96%	20.39%	4.70%	12.88%

Correlation

The correlation between IJPN.L and XMBR.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.39

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

Sectors	IJPN.L	XMBR.L
Technology	25.2%	1.2%
Industrials	22.7%	11.0%
Financial Services	17.7%	33.3%
Consumer Cyclical	11.1%	1.3%
Communication Services	8.1%	1.8%
Healthcare	5.2%	2.1%
Consumer Defensive	3.4%	4.6%
Basic Materials	3.1%	15.0%
Real Estate	1.8%	-
Utilities	0.9%	12.0%
Energy	0.8%	17.7%

Return for Risk

IJPN.L vs. XMBR.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: 58
IJPN.L Sharpe Ratio Rank: 54
IJPN.L Sortino Ratio Rank: 54
IJPN.L Omega Ratio Rank: 55
IJPN.L Calmar Ratio Rank: 68
IJPN.L Martin Ratio Rank: 60

XMBR.L

XMBR.L Risk / Return Rank: 54
XMBR.L Sharpe Ratio Rank: 63
XMBR.L Sortino Ratio Rank: 60
XMBR.L Omega Ratio Rank: 59
XMBR.L Calmar Ratio Rank: 48
XMBR.L Martin Ratio Rank: 40

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. XMBR.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 Xtrackers MSCI Brazil UCITS ETF 1C (XMBR.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	XMBR.L	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.59	-0.14
Sortino ratio: Return per unit of downside risk	2.08	2.18	-0.10
Omega ratio: Gain probability vs. loss probability	1.27	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.66	1.89	+0.77
Martin ratio: Return relative to average drawdown	8.12	4.95	+3.16

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

The current IJPN.L Sharpe Ratio is 1.45, which is comparable to the XMBR.L Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of IJPN.L and XMBR.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.

Drawdowns

IJPN.L vs. XMBR.L - Drawdown Comparison

The maximum IJPN.L drawdown since its inception was -36.06%, smaller than the maximum XMBR.L drawdown of -84.29%. Use the drawdown chart below to compare losses from any high point for IJPN.L and XMBR.L.

Drawdown Indicators

	IJPN.L	XMBR.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-84.29%	+48.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.80%	-17.94%	+7.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.09%	-40.25%	+26.16%
Max Drawdown (5Y) Largest decline over 5 years	-18.87%	-40.25%	+21.38%
Max Drawdown (10Y) Largest decline over 10 years	-24.34%	-53.50%	+29.16%
Current Drawdown Current decline from peak	-8.45%	-42.35%	+33.90%
Average Drawdown Average peak-to-trough decline	-9.92%	-57.95%	+48.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	6.85%	-3.30%

Volatility

IJPN.L vs. XMBR.L - Volatility Comparison

iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) has a higher volatility of 6.69% compared to Xtrackers MSCI Brazil UCITS ETF 1C (XMBR.L) at 4.47%. This indicates that IJPN.L's price experiences larger fluctuations and is considered to be riskier than XMBR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJPN.L	XMBR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.69%	4.47%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	16.52%	16.23%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	21.31%	-1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	29.35%	-13.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	32.63%	-16.60%

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

IJPN.L has a 0.59% expense ratio, which is lower than XMBR.L's 0.65% expense ratio.

Dividends

IJPN.L vs. XMBR.L - Dividend Comparison

IJPN.L's dividend yield for the trailing twelve months is around 0.83%, while XMBR.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XMBR.L Xtrackers MSCI Brazil UCITS ETF 1C	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

Can I hold both IJPN.L and XMBR.L in my portfolio?

IJPN.L and XMBR.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IJPN.L or XMBR.L?

On fees, IJPN.L is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IJPN.L or XMBR.L?

IJPN.L is cheaper with a 0.59% expense ratio, compared with 0.65% for XMBR.L.

What is the main difference between IJPN.L and XMBR.L?

IJPN.L is categorized as Japan Equities, while XMBR.L is Latin America Equities. IJPN.L tracks TOPIX TR JPY, while XMBR.L tracks MSCI Brazil NR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.59% for IJPN.L and 0.65% for XMBR.L.