IMAE.AS vs. CPXJ.AS

Last updated Jun 4, 2026

IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and CPXJ.AS (iShares Core MSCI Pacific ex Japan UCITS ETF) are both exchange-traded funds - IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while CPXJ.AS is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 10 years, IMAE.AS returned 9.14%/yr vs 7.75%/yr for CPXJ.AS. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

IMAE.AS vs. CPXJ.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) and iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMAE.AS achieves a 6.95% return, which is significantly lower than CPXJ.AS's 10.75% return. Over the past 10 years, IMAE.AS has outperformed CPXJ.AS with an annualized return of 9.14%, while CPXJ.AS has yielded a comparatively lower 7.75% annualized return.

IMAE.AS

• 1D: -0.71%
• 1M: 3.95%
• YTD: 6.95%
• 6M: 9.74%
• 1Y: 16.05%
• 3Y*: 13.28%
• 5Y*: 9.84%
• 10Y*: 9.14%

CPXJ.AS

• 1D: -0.58%
• 1M: 1.97%
• YTD: 10.75%
• 6M: 12.13%
• 1Y: 15.90%
• 3Y*: 10.73%
• 5Y*: 6.06%
• 10Y*: 7.75%

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

IMAE.AS vs. CPXJ.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc)	6.95%	19.74%	8.89%	15.99%	-9.31%	25.66%	-3.06%	25.45%	-9.65%	10.15%
CPXJ.AS iShares Core MSCI Pacific ex Japan UCITS ETF	10.75%	6.69%	11.90%	2.33%	-0.55%	12.79%	-2.03%	20.23%	-5.97%	10.75%

Correlation

The correlation between IMAE.AS and CPXJ.AS is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 19, 2011	0.71

The correlation between IMAE.AS and CPXJ.AS has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

Return for Risk

IMAE.AS vs. CPXJ.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMAE.AS

IMAE.AS Risk / Return Rank: 35
IMAE.AS Sharpe Ratio Rank: 34
IMAE.AS Sortino Ratio Rank: 34
IMAE.AS Omega Ratio Rank: 35
IMAE.AS Calmar Ratio Rank: 34
IMAE.AS Martin Ratio Rank: 39

CPXJ.AS

CPXJ.AS Risk / Return Rank: 43
CPXJ.AS Sharpe Ratio Rank: 38
CPXJ.AS Sortino Ratio Rank: 41
CPXJ.AS Omega Ratio Rank: 37
CPXJ.AS Calmar Ratio Rank: 52
CPXJ.AS Martin Ratio Rank: 46

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.

IMAE.AS vs. CPXJ.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) and iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS). 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.

	IMAE.AS	CPXJ.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.37	-0.13
Sortino ratio: Return per unit of downside risk	1.84	2.06	-0.23
Omega ratio: Gain probability vs. loss probability	1.24	1.25	-0.01
Calmar ratio: Return relative to maximum drawdown	1.67	2.53	-0.86
Martin ratio: Return relative to average drawdown	6.19	7.44	-1.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMAE.AS vs. CPXJ.AS - Sharpe Ratio Comparison

The current IMAE.AS Sharpe Ratio is 1.24, which is comparable to the CPXJ.AS Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of IMAE.AS and CPXJ.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IMAE.AS	CPXJ.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.37	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.41	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.46	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.36	+0.17

Drawdowns

IMAE.AS vs. CPXJ.AS - Drawdown Comparison

The maximum IMAE.AS drawdown since its inception was -35.60%, roughly equal to the maximum CPXJ.AS drawdown of -36.83%. Use the drawdown chart below to compare losses from any high point for IMAE.AS and CPXJ.AS.

Drawdown Indicators

	IMAE.AS	CPXJ.AS	Difference
Max Drawdown Largest peak-to-trough decline	-35.60%	-36.83%	+1.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.47%	-6.20%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-19.95%	+3.44%
Max Drawdown (5Y) Largest decline over 5 years	-19.44%	-19.95%	+0.51%
Max Drawdown (10Y) Largest decline over 10 years	-35.60%	-36.83%	+1.23%
Current Drawdown Current decline from peak	-2.20%	-1.10%	-1.10%
Average Drawdown Average peak-to-trough decline	-5.32%	-6.66%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.12%	+0.44%

Volatility

IMAE.AS vs. CPXJ.AS - Volatility Comparison

iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) has a higher volatility of 4.85% compared to iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) at 3.91%. This indicates that IMAE.AS's price experiences larger fluctuations and is considered to be riskier than CPXJ.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMAE.AS	CPXJ.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	3.91%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	10.61%	8.83%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	11.49%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	14.61%	-0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	16.48%	-0.94%

IMAE.AS vs. CPXJ.AS - Expense Ratio Comparison

Both IMAE.AS and CPXJ.AS have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IMAE.AS vs. CPXJ.AS - Dividend Comparison

Neither IMAE.AS nor CPXJ.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IMAE.AS and CPXJ.AS in my portfolio?

IMAE.AS and CPXJ.AS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IMAE.AS or CPXJ.AS?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMAE.AS or CPXJ.AS?

IMAE.AS and CPXJ.AS have the same expense ratio: 0.20% per year.

What is the main difference between IMAE.AS and CPXJ.AS?

IMAE.AS is categorized as Europe Equities, while CPXJ.AS is Asia Pacific Equities. IMAE.AS tracks MSCI Europe NR EUR, while CPXJ.AS tracks MSCI Pacific Ex Japan NR USD.