IPXJ.L vs. IGLN.L
IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IPXJ.L is a Japan Equities fund tracking the iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist), while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IPXJ.L returned 7.06%/yr vs 11.58%/yr for IGLN.L. At a 0.21 correlation, their price movements are largely independent. IPXJ.L charges 0.60%/yr vs 0.12%/yr for IGLN.L.
Performance
IPXJ.L vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, IPXJ.L achieves a 10.20% return, which is significantly higher than IGLN.L's -6.13% return. Over the past 10 years, IPXJ.L has underperformed IGLN.L with an annualized return of 7.06%, while IGLN.L has yielded a comparatively higher 11.58% annualized return.
IPXJ.L
- 1D
- -0.55%
- 1M
- 1.44%
- 6M
- 8.32%
- YTD
- 10.20%
- 1Y
- 15.90%
- 3Y*
- 12.30%
- 5Y*
- 5.56%
- 10Y*
- 7.06%
IGLN.L
- 1D
- -0.82%
- 1M
- -7.02%
- 6M
- -12.44%
- YTD
- -6.13%
- 1Y
- 21.47%
- 3Y*
- 27.22%
- 5Y*
- 17.30%
- 10Y*
- 11.58%
IPXJ.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPXJ.L iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) | 10.20% | 19.91% | 4.45% | 5.64% | -6.26% | 3.62% | 6.65% | 17.59% | -10.82% | 25.42% |
IGLN.L iShares Physical Gold ETC | -6.13% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
Correlation
The correlation between IPXJ.L and IGLN.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.21 |
Over the past year, IPXJ.L and IGLN.L have become more correlated (0.49) than their long-term average of 0.21, meaning their price movements have been converging.
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Return for Risk
IPXJ.L vs. IGLN.L — Risk / Return Rank
IPXJ.L
IGLN.L
IPXJ.L vs. IGLN.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 iShares Physical Gold ETC (IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.88 | +0.94 |
| Martin ratioReturn relative to average drawdown | 4.92 | 2.15 | +2.78 |
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Drawdowns
IPXJ.L vs. IGLN.L - Drawdown Comparison
The maximum IPXJ.L drawdown since its inception was -38.93%, smaller than the maximum IGLN.L drawdown of -45.25%. Use the drawdown chart below to compare losses from any high point for IPXJ.L and IGLN.L.
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Drawdown Indicators
| IPXJ.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.93% | -45.25% | +6.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -24.39% | +15.86% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -24.39% | +5.72% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | -24.39% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -38.93% | -24.39% | -14.54% |
Current DrawdownCurrent decline from peak | -1.69% | -23.66% | +21.97% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -19.73% | +11.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 9.97% | -6.82% |
Volatility
IPXJ.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) is 3.37%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 7.59%. This indicates that IPXJ.L experiences smaller price fluctuations and is considered to be less risky than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPXJ.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 7.59% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.42% | 23.02% | -11.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 26.39% | -12.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 17.79% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 15.74% | +1.97% |
IPXJ.L vs. IGLN.L - Expense Ratio Comparison
IPXJ.L has a 0.60% expense ratio, which is higher than IGLN.L's 0.12% expense ratio.
Dividends
IPXJ.L vs. IGLN.L - Dividend Comparison
IPXJ.L's dividend yield for the trailing twelve months is around 3.56%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 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) | 3.56% | 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
IPXJ.L and IGLN.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.60% for IPXJ.L.
IPXJ.L is categorized as Japan Equities, while IGLN.L is Gold. IPXJ.L tracks iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist), while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.60% for IPXJ.L and 0.12% for IGLN.L.
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