IPXJ.L vs. LGAP.L
IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) and LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) are both Japan Equities funds - IPXJ.L tracks the iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) while LGAP.L tracks the L&G Asia Pacific ex Japan Equity UCITS ETF. Both are passively managed. Over the past 5 years, IPXJ.L returned 5.56%/yr vs 5.54%/yr for LGAP.L. With a 0.98 correlation, they move nearly in lockstep. IPXJ.L charges 0.60%/yr vs 0.10%/yr for LGAP.L.
Performance
IPXJ.L vs. LGAP.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 LGAP.L's 9.64% 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%
LGAP.L
- 1D
- -0.40%
- 1M
- 0.61%
- 6M
- 7.65%
- YTD
- 9.64%
- 1Y
- 15.23%
- 3Y*
- 12.38%
- 5Y*
- 5.54%
- 10Y*
- —
IPXJ.L vs. LGAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -3.47% |
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF | 9.64% | 20.97% | 4.67% | 4.82% | -5.65% | 2.87% | 8.44% | 17.78% | -1.30% |
Correlation
The correlation between IPXJ.L and LGAP.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.98 |
The correlation between IPXJ.L and LGAP.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IPXJ.L vs. LGAP.L — Risk / Return Rank
IPXJ.L
LGAP.L
IPXJ.L vs. LGAP.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 L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.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 | LGAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.72 | +0.09 |
| Martin ratioReturn relative to average drawdown | 4.92 | 4.58 | +0.34 |
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Drawdowns
IPXJ.L vs. LGAP.L - Drawdown Comparison
The maximum IPXJ.L drawdown since its inception was -38.93%, roughly equal to the maximum LGAP.L drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for IPXJ.L and LGAP.L.
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Drawdown Indicators
| IPXJ.L | LGAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.93% | -38.56% | -0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -8.50% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -19.01% | +0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | -24.31% | -0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -38.93% | — | — |
Current DrawdownCurrent decline from peak | -1.69% | -2.20% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -7.75% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 3.21% | -0.06% |
Volatility
IPXJ.L vs. LGAP.L - Volatility Comparison
iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) and L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) have volatilities of 3.37% and 3.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPXJ.L | LGAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 3.45% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 11.42% | 11.66% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 14.03% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 17.46% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 19.26% | -1.55% |
IPXJ.L vs. LGAP.L - Expense Ratio Comparison
IPXJ.L has a 0.60% expense ratio, which is higher than LGAP.L's 0.10% expense ratio.
Dividends
IPXJ.L vs. LGAP.L - Dividend Comparison
IPXJ.L's dividend yield for the trailing twelve months is around 3.56%, while LGAP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LGAP.L L&G Asia Pacific ex Japan Equity 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% |
Frequently Asked Questions
With a correlation of 0.98, IPXJ.L and LGAP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, LGAP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGAP.L is cheaper with a 0.10% expense ratio, compared with 0.60% for IPXJ.L.
IPXJ.L tracks iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist), while LGAP.L tracks L&G Asia Pacific ex Japan Equity UCITS ETF. They also come from different issuers: iShares and L&G. Their fees differ too: 0.60% for IPXJ.L and 0.10% for LGAP.L.
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