ISJP.L vs. SJPA.L
ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) and SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) are both Japan Equities funds from iShares - ISJP.L tracks the MSCI Japan Small Cap NR JPY while SJPA.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 10 years, ISJP.L returned 8.58%/yr vs 10.10%/yr for SJPA.L. Their correlation of 0.82 suggests significant overlap in exposure. ISJP.L charges 0.58%/yr vs 0.15%/yr for SJPA.L.
Performance
ISJP.L vs. SJPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISJP.L achieves a 15.08% return, which is significantly lower than SJPA.L's 16.31% return. Over the past 10 years, ISJP.L has underperformed SJPA.L with an annualized return of 8.58%, while SJPA.L has yielded a comparatively higher 10.10% annualized return.
ISJP.L
- 1D
- 0.31%
- 1M
- 5.68%
- YTD
- 15.08%
- 6M
- 15.82%
- 1Y
- 31.49%
- 3Y*
- 14.99%
- 5Y*
- 8.64%
- 10Y*
- 8.58%
SJPA.L
- 1D
- -0.10%
- 1M
- 6.32%
- YTD
- 16.31%
- 6M
- 15.92%
- 1Y
- 33.90%
- 3Y*
- 15.64%
- 5Y*
- 10.02%
- 10Y*
- 10.10%
ISJP.L vs. SJPA.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) | 15.08% | 20.89% | 4.99% | 7.01% | -2.01% | -2.01% | 4.51% | 13.94% | -11.99% | 19.35% |
SJPA.L iShares Core MSCI Japan IMI UCITS ETF | 16.31% | 18.19% | 8.36% | 12.76% | -6.21% | 1.62% | 11.03% | 14.68% | -9.15% | 14.69% |
Correlation
The correlation between ISJP.L and SJPA.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2009 | 0.82 |
The correlation between ISJP.L and SJPA.L has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
ISJP.L vs. SJPA.L — Risk / Return Rank
ISJP.L
SJPA.L
ISJP.L vs. SJPA.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 iShares Core MSCI Japan IMI UCITS ETF (SJPA.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.
| ISJP.L | SJPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.15 | -0.26 |
| Martin ratioReturn relative to average drawdown | 9.66 | 10.28 | -0.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ISJP.L | SJPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.92 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.65 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.64 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.57 | -0.09 |
Drawdowns
ISJP.L vs. SJPA.L - Drawdown Comparison
The maximum ISJP.L drawdown since its inception was -32.93%, which is greater than SJPA.L's maximum drawdown of -24.73%. Use the drawdown chart below to compare losses from any high point for ISJP.L and SJPA.L.
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Drawdown Indicators
| ISJP.L | SJPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.93% | -24.73% | -8.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.84% | -10.71% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -11.23% | -13.45% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -21.01% | -18.93% | -2.08% |
Max Drawdown (10Y)Largest decline over 10 years | -28.98% | -24.73% | -4.25% |
Current DrawdownCurrent decline from peak | -1.25% | -0.10% | -1.15% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -6.68% | +0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 3.29% | -0.04% |
Volatility
ISJP.L vs. SJPA.L - Volatility Comparison
iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) has a higher volatility of 4.25% compared to iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) at 3.82%. This indicates that ISJP.L's price experiences larger fluctuations and is considered to be riskier than SJPA.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 | SJPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 3.82% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.34% | 14.40% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.17% | 17.60% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.22% | 15.35% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 15.69% | -0.07% |
ISJP.L vs. SJPA.L - Expense Ratio Comparison
ISJP.L has a 0.58% expense ratio, which is higher than SJPA.L's 0.15% expense ratio.
Dividends
ISJP.L vs. SJPA.L - Dividend Comparison
ISJP.L's dividend yield for the trailing twelve months is around 1.67%, while SJPA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.67% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.68% |
SJPA.L iShares Core MSCI Japan IMI 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
ISJP.L and SJPA.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SJPA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SJPA.L is cheaper with a 0.15% expense ratio, compared with 0.58% for ISJP.L.
ISJP.L tracks MSCI Japan Small Cap NR JPY, while SJPA.L tracks TOPIX TR JPY. Their fees differ too: 0.58% for ISJP.L and 0.15% for SJPA.L.
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