ISJP.L vs. JPNL.L
ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) and JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) are both Japan Equities funds - ISJP.L tracks the MSCI Japan Small Cap NR JPY while JPNL.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 10 years, ISJP.L returned 8.38%/yr vs 9.32%/yr for JPNL.L. A 0.68 correlation means they provide meaningful diversification when combined. ISJP.L charges 0.58%/yr vs 0.45%/yr for JPNL.L.
Performance
ISJP.L vs. JPNL.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISJP.L achieves a 18.26% return, which is significantly higher than JPNL.L's 16.60% return. Over the past 10 years, ISJP.L has underperformed JPNL.L with an annualized return of 8.38%, while JPNL.L has yielded a comparatively higher 9.32% annualized return.
ISJP.L
- 1D
- 0.95%
- 1M
- 2.34%
- YTD
- 18.26%
- 6M
- 18.54%
- 1Y
- 35.56%
- 3Y*
- 17.29%
- 5Y*
- 8.86%
- 10Y*
- 8.38%
JPNL.L
- 1D
- 0.18%
- 1M
- 1.96%
- YTD
- 16.60%
- 6M
- 16.78%
- 1Y
- 36.07%
- 3Y*
- 16.76%
- 5Y*
- 9.78%
- 10Y*
- 9.32%
ISJP.L vs. JPNL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 18.26% | 20.89% | 4.99% | 7.01% | -2.01% | -2.01% | 4.51% | 13.94% | -11.99% | 19.35% |
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR | 16.60% | 17.96% | 7.75% | 13.02% | -5.78% | 0.85% | 10.24% | 13.26% | -9.85% | 14.89% |
Correlation
The correlation between ISJP.L and JPNL.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 9, 2008 | 0.68 |
The correlation between ISJP.L and JPNL.L shifts across timeframes, from 0.68 (all time) to 0.91 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ISJP.L vs. JPNL.L — Risk / Return Rank
ISJP.L
JPNL.L
ISJP.L vs. JPNL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.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.
| ISJP.L | JPNL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.38 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 3.38 | -0.11 |
| Martin ratioReturn relative to average drawdown | 10.84 | 10.63 | +0.21 |
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Drawdowns
ISJP.L vs. JPNL.L - Drawdown Comparison
The maximum ISJP.L drawdown since its inception was -62.77%, which is greater than JPNL.L's maximum drawdown of -38.87%. Use the drawdown chart below to compare losses from any high point for ISJP.L and JPNL.L.
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Drawdown Indicators
| ISJP.L | JPNL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.77% | -38.87% | -23.90% |
Max Drawdown (1Y)Largest decline over 1 year | -10.84% | -10.63% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -11.23% | -13.44% | +2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -21.01% | -18.80% | -2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -28.98% | -25.42% | -3.56% |
Current DrawdownCurrent decline from peak | -0.47% | -2.56% | +2.09% |
Average DrawdownAverage peak-to-trough decline | -19.82% | -10.52% | -9.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.38% | -0.11% |
Volatility
ISJP.L vs. JPNL.L - Volatility Comparison
The current volatility for iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) is 3.92%, while Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) has a volatility of 5.36%. This indicates that ISJP.L experiences smaller price fluctuations and is considered to be less risky than JPNL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISJP.L | JPNL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 5.36% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 14.83% | -1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.48% | 17.93% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 15.49% | -1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 15.81% | -0.32% |
ISJP.L vs. JPNL.L - Expense Ratio Comparison
ISJP.L has a 0.58% expense ratio, which is higher than JPNL.L's 0.45% expense ratio.
Dividends
ISJP.L vs. JPNL.L - Dividend Comparison
ISJP.L's dividend yield for the trailing twelve months is around 1.63%, more than JPNL.L's 0.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.63% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR | 0.61% | 0.71% | 0.73% | 1.23% | 1.83% | 1.37% | 1.14% | 2.01% | 1.84% | 1.43% | 1.97% | 1.77% |
Frequently Asked Questions
ISJP.L and JPNL.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPNL.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPNL.L is cheaper with a 0.45% expense ratio, compared with 0.58% for ISJP.L.
ISJP.L tracks MSCI Japan Small Cap NR JPY, while JPNL.L tracks TOPIX TR JPY. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.58% for ISJP.L and 0.45% for JPNL.L.
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