JARI.L vs. JPNL.L

Last updated Jun 5, 2026

JARI.L (Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C)) and JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) are both Japan Equities funds from Amundi tracking the TOPIX TR JPY. Both are passively managed. Over the past 5 years, JARI.L returned 1.63%/yr vs 9.61%/yr for JPNL.L. A 0.64 correlation means they provide meaningful diversification when combined. JARI.L charges 0.18%/yr vs 0.45%/yr for JPNL.L.

Performance

JARI.L vs. JPNL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) (JARI.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JARI.L achieves a 2.58% return, which is significantly lower than JPNL.L's 14.78% return.

JARI.L

• 1D: -0.40%
• 1M: 4.23%
• YTD: 2.58%
• 6M: 1.49%
• 1Y: 12.60%
• 3Y*: 1.77%
• 5Y*: 1.63%
• 10Y*: —

JPNL.L

• 1D: -0.07%
• 1M: 5.50%
• YTD: 14.78%
• 6M: 14.36%
• 1Y: 31.62%
• 3Y*: 14.93%
• 5Y*: 9.61%
• 10Y*: 9.84%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JARI.L vs. JPNL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JARI.L Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C)	2.58%	10.15%	-2.37%	5.00%	-10.79%	-1.95%
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR	14.78%	17.96%	7.74%	12.66%	-5.98%	-2.73%

Correlation

The correlation between JARI.L and JPNL.L is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Feb 16, 2021	0.64

Over the past year, JARI.L and JPNL.L have become more correlated (0.86) than their long-term average of 0.64, meaning their price movements have been converging.

JARI.L vs. JPNL.L - Sectors Allocation Comparison

Sectors	JARI.L	JPNL.L
Industrials	18.2%	26.9%
Technology	17.3%	17.7%
Consumer Cyclical	17.3%	12.1%
Financial Services	15.7%	17.1%
Healthcare	12.5%	5.5%
Communication Services	10.3%	7.8%
Consumer Defensive	4.6%	4.2%
Real Estate	3.5%	1.8%
Basic Materials	0.6%	4.7%
Energy	-	0.9%
Utilities	-	1.3%

Return for Risk

JARI.L vs. JPNL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JARI.L

JARI.L Risk / Return Rank: 23
JARI.L Sharpe Ratio Rank: 22
JARI.L Sortino Ratio Rank: 22
JARI.L Omega Ratio Rank: 22
JARI.L Calmar Ratio Rank: 26
JARI.L Martin Ratio Rank: 25

JPNL.L

JPNL.L Risk / Return Rank: 60
JPNL.L Sharpe Ratio Rank: 58
JPNL.L Sortino Ratio Rank: 58
JPNL.L Omega Ratio Rank: 61
JPNL.L Calmar Ratio Rank: 67
JPNL.L Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JARI.L vs. JPNL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) (JARI.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.

	JARI.L	JPNL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.72	1.93	-1.20
Sortino ratio: Return per unit of downside risk	1.13	2.69	-1.56
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.23
Calmar ratio: Return relative to maximum drawdown	1.20	3.26	-2.06
Martin ratio: Return relative to average drawdown	3.31	9.96	-6.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JARI.L vs. JPNL.L - Sharpe Ratio Comparison

The current JARI.L Sharpe Ratio is 0.72, which is lower than the JPNL.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of JARI.L and JPNL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JARI.L	JPNL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	1.93	-1.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.74	-0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.73	-0.71

Drawdowns

JARI.L vs. JPNL.L - Drawdown Comparison

The maximum JARI.L drawdown since its inception was -22.78%, smaller than the maximum JPNL.L drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for JARI.L and JPNL.L.

Drawdown Indicators

	JARI.L	JPNL.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.78%	-25.42%	+2.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-10.63%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-14.89%	-13.44%	-1.45%
Max Drawdown (5Y) Largest decline over 5 years	-22.78%	-18.53%	-4.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.42%	—
Current Drawdown Current decline from peak	-4.56%	-0.35%	-4.21%
Average Drawdown Average peak-to-trough decline	-12.30%	-5.36%	-6.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	3.37%	+0.43%

Volatility

JARI.L vs. JPNL.L - Volatility Comparison

Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) (JARI.L) has a higher volatility of 4.18% compared to Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) at 3.61%. This indicates that JARI.L's price experiences larger fluctuations and is considered to be riskier than JPNL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JARI.L	JPNL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	3.61%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	13.96%	14.26%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	17.35%	17.96%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	18.30%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	17.84%	-0.11%

JARI.L vs. JPNL.L - Expense Ratio Comparison

JARI.L has a 0.18% expense ratio, which is lower than JPNL.L's 0.45% expense ratio.

Dividends

JARI.L vs. JPNL.L - Dividend Comparison

JARI.L has not paid dividends to shareholders, while JPNL.L's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JARI.L Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR	0.62%	0.71%	0.74%	1.23%	1.83%	1.37%	1.14%	1.98%	1.84%	1.43%	1.96%	1.77%

Frequently Asked Questions

Can I hold both JARI.L and JPNL.L in my portfolio?

JARI.L and JPNL.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JARI.L or JPNL.L?

On fees, JARI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JARI.L or JPNL.L?

JARI.L is cheaper with a 0.18% expense ratio, compared with 0.45% for JPNL.L.

What is the main difference between JARI.L and JPNL.L?

Both ETFs track TOPIX TR JPY. Their fees differ too: 0.18% for JARI.L and 0.45% for JPNL.L.