IPXJ.L vs. IJPH.L
IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) and IJPH.L (iShares MSCI Japan GBP Hedged UCITS ETF) are both Japan Equities funds from iShares - IPXJ.L tracks the iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) while IJPH.L tracks the MSCI Japan 100% Hedged to GBP Index. Both are passively managed. Over the past 10 years, IPXJ.L returned 7.06%/yr vs 15.51%/yr for IJPH.L. A 0.59 correlation means they provide meaningful diversification when combined. IPXJ.L charges 0.60%/yr vs 0.64%/yr for IJPH.L.
Performance
IPXJ.L vs. IJPH.L - Performance Comparison
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Different Trading Currencies
IPXJ.L is traded in USD, while IJPH.L is traded in GBP. To make them comparable, the IJPH.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 10.20% return, which is significantly lower than IJPH.L's 22.86% return. Over the past 10 years, IPXJ.L has underperformed IJPH.L with an annualized return of 7.06%, while IJPH.L has yielded a comparatively higher 15.51% 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%
IJPH.L
- 1D
- 0.13%
- 1M
- 1.99%
- 6M
- 15.32%
- YTD
- 22.86%
- 1Y
- 53.76%
- 3Y*
- 30.08%
- 5Y*
- 20.92%
- 10Y*
- 15.51%
IPXJ.L vs. IJPH.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% |
IJPH.L iShares MSCI Japan GBP Hedged UCITS ETF | 22.86% | 39.14% | 21.76% | 41.27% | -14.53% | 10.92% | 12.62% | 20.59% | -20.65% | 30.82% |
Correlation
The correlation between IPXJ.L and IJPH.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 31, 2012 | 0.59 |
The correlation between IPXJ.L and IJPH.L has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.
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Return for Risk
IPXJ.L vs. IJPH.L — Risk / Return Rank
IPXJ.L
IJPH.L
IPXJ.L vs. IJPH.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 MSCI Japan GBP Hedged UCITS ETF (IJPH.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 | IJPH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.42 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 4.51 | -2.70 |
| Martin ratioReturn relative to average drawdown | 4.92 | 16.14 | -11.22 |
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Drawdowns
IPXJ.L vs. IJPH.L - Drawdown Comparison
The maximum IPXJ.L drawdown since its inception was -38.93%, smaller than the maximum IJPH.L drawdown of -45.23%. Use the drawdown chart below to compare losses from any high point for IPXJ.L and IJPH.L.
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Drawdown Indicators
| IPXJ.L | IJPH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.93% | -45.23% | +6.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -11.86% | +3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -22.91% | +4.24% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | -30.65% | +6.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.93% | -44.24% | +5.31% |
Current DrawdownCurrent decline from peak | -1.69% | -1.18% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -12.07% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 3.32% | -0.17% |
Volatility
IPXJ.L vs. IJPH.L - Volatility Comparison
The current volatility for iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) is 3.37%, while iShares MSCI Japan GBP Hedged UCITS ETF (IJPH.L) has a volatility of 7.11%. This indicates that IPXJ.L experiences smaller price fluctuations and is considered to be less risky than IJPH.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 | IJPH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 7.11% | -3.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.42% | 18.20% | -6.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 22.92% | -9.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 22.24% | -5.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 21.79% | -4.08% |
IPXJ.L vs. IJPH.L - Expense Ratio Comparison
IPXJ.L has a 0.60% expense ratio, which is lower than IJPH.L's 0.64% expense ratio.
Dividends
IPXJ.L vs. IJPH.L - Dividend Comparison
IPXJ.L's dividend yield for the trailing twelve months is around 3.56%, while IJPH.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IJPH.L iShares MSCI Japan GBP Hedged 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) | 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 IJPH.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IPXJ.L is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IPXJ.L is cheaper with a 0.60% expense ratio, compared with 0.64% for IJPH.L.
IPXJ.L tracks iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist), while IJPH.L tracks MSCI Japan 100% Hedged to GBP Index. Their fees differ too: 0.60% for IPXJ.L and 0.64% for IJPH.L.
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