IPXJ.L vs. PAXG.L
IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) and PAXG.L (Lyxor MSCI Pacific Ex Japan UCITS) are both Asia Pacific Equities funds - IPXJ.L tracks the MSCI Pacific ex Japan Index (Net) while PAXG.L tracks the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past 10 years, IPXJ.L returned 7.10%/yr vs 7.87%/yr for PAXG.L. Their correlation of 0.93 suggests significant overlap in exposure. IPXJ.L charges 0.60%/yr vs 0.12%/yr for PAXG.L.
Performance
IPXJ.L vs. PAXG.L - Performance Comparison
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Different Trading Currencies
IPXJ.L is traded in USD, while PAXG.L is traded in GBp. To make them comparable, the PAXG.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 PAXG.L's 10.82% return. Over the past 10 years, IPXJ.L has underperformed PAXG.L with an annualized return of 7.10%, while PAXG.L has yielded a comparatively higher 7.87% annualized 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%
PAXG.L
- 1D
- -0.76%
- 1M
- 1.62%
- 6M
- 8.55%
- YTD
- 10.82%
- 1Y
- 15.69%
- 3Y*
- 13.03%
- 5Y*
- 6.13%
- 10Y*
- 7.87%
IPXJ.L vs. PAXG.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) | 9.42% | 19.91% | 4.45% | 5.64% | -6.26% | 3.62% | 6.65% | 17.59% | -10.82% | 25.42% |
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS | 10.82% | 20.78% | 5.07% | 5.23% | -5.85% | 4.36% | 6.62% | 18.48% | -9.28% | 27.28% |
Correlation
The correlation between IPXJ.L and PAXG.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2015 | 0.93 |
The correlation between IPXJ.L and PAXG.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
IPXJ.L vs. PAXG.L — Risk / Return Rank
IPXJ.L
PAXG.L
IPXJ.L vs. PAXG.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 Lyxor MSCI Pacific Ex Japan UCITS (PAXG.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 | PAXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.82 | -0.17 |
| Martin ratioReturn relative to average drawdown | 4.48 | 5.11 | -0.63 |
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Drawdowns
IPXJ.L vs. PAXG.L - Drawdown Comparison
The maximum IPXJ.L drawdown since its inception was -38.93%, smaller than the maximum PAXG.L drawdown of -53.59%. Use the drawdown chart below to compare losses from any high point for IPXJ.L and PAXG.L.
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Drawdown Indicators
| IPXJ.L | PAXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.93% | -53.59% | +14.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.53% | -9.02% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -19.05% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | -24.23% | -0.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.93% | -38.52% | -0.41% |
Current DrawdownCurrent decline from peak | -2.38% | -1.57% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -8.62% | -21.24% | +12.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 3.22% | -0.07% |
Volatility
IPXJ.L vs. PAXG.L - Volatility Comparison
iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) and Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) have volatilities of 3.13% and 3.17%, 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 | PAXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 3.17% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 11.13% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 13.43% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 16.95% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.71% | 17.13% | +0.58% |
IPXJ.L vs. PAXG.L - Expense Ratio Comparison
IPXJ.L has a 0.60% expense ratio, which is higher than PAXG.L's 0.12% expense ratio.
Dividends
IPXJ.L vs. PAXG.L - Dividend Comparison
IPXJ.L's dividend yield for the trailing twelve months is around 2.83%, less than PAXG.L's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS | 3.06% | 3.38% | 5.61% | 4.03% | 4.41% | 3.74% | 2.85% | 4.08% | 5.57% | 4.50% | 4.22% | 3.29% |
Frequently Asked Questions
With a correlation of 0.92, IPXJ.L and PAXG.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, PAXG.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAXG.L is cheaper with a 0.12% expense ratio, compared with 0.60% for IPXJ.L.
IPXJ.L tracks MSCI Pacific ex Japan Index (Net), while PAXG.L tracks MSCI Pacific Ex Japan NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.60% for IPXJ.L and 0.12% for PAXG.L.
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