IPXJ.L vs. FRXT.L

Last updated Jul 18, 2026

IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) and FRXT.L (Franklin FTSE Taiwan UCITS ETF) are both exchange-traded funds - IPXJ.L is a Asia Pacific Equities fund tracking the MSCI Pacific ex Japan Index (Net), while FRXT.L is a Taiwan Equities fund tracking the MSCI Taiwan NR USD. Both are passively managed. Over the past 3 years, IPXJ.L returned 11.93%/yr vs 40.68%/yr for FRXT.L. A 0.58 correlation means they provide meaningful diversification when combined. IPXJ.L charges 0.60%/yr vs 0.19%/yr for FRXT.L.

Performance

IPXJ.L vs. FRXT.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) and Franklin FTSE Taiwan UCITS ETF (FRXT.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IPXJ.L is traded in USD, while FRXT.L is traded in GBP. To make them comparable, the FRXT.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IPXJ.L achieves a 9.42% return, which is significantly lower than FRXT.L's 57.87% return.

IPXJ.L

• 1D: -0.91%
• 1M: -0.21%
• 6M: 7.35%
• YTD: 9.42%
• 1Y: 14.14%
• 3Y*: 11.93%
• 5Y*: 5.42%
• 10Y*: 7.10%

FRXT.L

• 1D: 0.00%
• 1M: -5.98%
• 6M: 47.52%
• YTD: 57.87%
• 1Y: 84.02%
• 3Y*: 40.68%
• 5Y*: —
• 10Y*: —

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

IPXJ.L vs. FRXT.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)	9.42%	19.91%	4.45%	5.64%	-7.68%
FRXT.L Franklin FTSE Taiwan UCITS ETF	57.87%	34.80%	23.57%	29.08%	-41.34%

Correlation

The correlation between IPXJ.L and FRXT.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 21, 2022	0.58

The correlation between IPXJ.L and FRXT.L has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

Return for Risk

IPXJ.L vs. FRXT.L — Risk / Return Rank

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

IPXJ.L

IPXJ.L Risk / Return Rank: 38
IPXJ.L Sharpe Ratio Rank: 37
IPXJ.L Sortino Ratio Rank: 38
IPXJ.L Omega Ratio Rank: 35
IPXJ.L Calmar Ratio Rank: 42
IPXJ.L Martin Ratio Rank: 38

FRXT.L

FRXT.L Risk / Return Rank: 95
FRXT.L Sharpe Ratio Rank: 96
FRXT.L Sortino Ratio Rank: 94
FRXT.L Omega Ratio Rank: 94
FRXT.L Calmar Ratio Rank: 96
FRXT.L Martin Ratio Rank: 95

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.

IPXJ.L vs. FRXT.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) and Franklin FTSE Taiwan UCITS ETF (FRXT.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.

	IPXJ.L	FRXT.L	Difference
Sharpe ratio: Return per unit of total volatility	1.02	3.14	-2.12
Sortino ratio: Return per unit of downside risk	1.58	3.72	-2.14
Omega ratio: Gain probability vs. loss probability	1.18	1.51	-0.32
Calmar ratio: Return relative to maximum drawdown	1.65	7.53	-5.88
Martin ratio: Return relative to average drawdown	4.48	20.07	-15.59

IPXJ.L vs. FRXT.L - Sharpe Ratio Comparison

The current IPXJ.L Sharpe Ratio is 1.02, which is lower than the FRXT.L Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of IPXJ.L and FRXT.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

IPXJ.L vs. FRXT.L - Drawdown Comparison

The maximum IPXJ.L drawdown since its inception was -38.93%, smaller than the maximum FRXT.L drawdown of -50.13%. Use the drawdown chart below to compare losses from any high point for IPXJ.L and FRXT.L.

Drawdown Indicators

	IPXJ.L	FRXT.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.93%	-50.13%	+11.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-11.22%	+2.69%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-27.95%	+9.28%
Max Drawdown (5Y) Largest decline over 5 years	-24.44%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.93%	—	—
Current Drawdown Current decline from peak	-2.38%	-11.12%	+8.74%
Average Drawdown Average peak-to-trough decline	-8.62%	-19.05%	+10.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	4.20%	-1.05%

Volatility

IPXJ.L vs. FRXT.L - Volatility Comparison

The current volatility for iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) is 3.13%, while Franklin FTSE Taiwan UCITS ETF (FRXT.L) has a volatility of 11.52%. This indicates that IPXJ.L experiences smaller price fluctuations and is considered to be less risky than FRXT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPXJ.L	FRXT.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	11.52%	-8.39%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	23.38%	-11.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.87%	26.99%	-13.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	25.73%	-8.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	25.73%	-8.02%

IPXJ.L vs. FRXT.L - Expense Ratio Comparison

IPXJ.L has a 0.60% expense ratio, which is higher than FRXT.L's 0.19% expense ratio.

Dividends

IPXJ.L vs. FRXT.L - Dividend Comparison

IPXJ.L's dividend yield for the trailing twelve months is around 2.83%, while FRXT.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRXT.L Franklin FTSE Taiwan 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%
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)	2.83%	2.88%	3.49%	3.50%	3.76%	2.92%	2.45%	3.58%	3.92%	3.19%	3.48%	3.44%

Frequently Asked Questions

Can I hold both IPXJ.L and FRXT.L in my portfolio?

IPXJ.L and FRXT.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IPXJ.L or FRXT.L?

On fees, FRXT.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPXJ.L or FRXT.L?

FRXT.L is cheaper with a 0.19% expense ratio, compared with 0.60% for IPXJ.L.

What is the main difference between IPXJ.L and FRXT.L?

IPXJ.L is categorized as Asia Pacific Equities, while FRXT.L is Taiwan Equities. IPXJ.L tracks MSCI Pacific ex Japan Index (Net), while FRXT.L tracks MSCI Taiwan NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.60% for IPXJ.L and 0.19% for FRXT.L.