JHYP.L vs. JPY=X
JHYP.L (JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist)) is High Yield Bonds fund tracking the ICE BofA Gbl HY Constnd TR HGBP, while JPY=X (USD/JPY) is a currency. Over the past 5 years, JHYP.L returned 3.62%/yr vs 1.02%/yr for JPY=X. At a correlation of -0.26, they often move in opposite directions.
Performance
JHYP.L vs. JPY=X - Performance Comparison
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Different Trading Currencies
JHYP.L is traded in GBP, while JPY=X is traded in JPY. To make them comparable, the JPY=X values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, JHYP.L achieves a 2.45% return, which is significantly higher than JPY=X's 2.01% return.
JHYP.L
- 1D
- 0.00%
- 1M
- 1.00%
- YTD
- 2.45%
- 6M
- 2.65%
- 1Y
- 8.41%
- 3Y*
- 8.95%
- 5Y*
- 3.62%
- 10Y*
- —
JPY=X
- 1D
- -0.19%
- 1M
- 1.92%
- YTD
- 2.01%
- 6M
- 2.22%
- 1Y
- 3.59%
- 3Y*
- -1.23%
- 5Y*
- 1.02%
- 10Y*
- 0.02%
JHYP.L vs. JPY=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JHYP.L JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) | 2.45% | 9.42% | 7.65% | 9.75% | -10.03% | 3.00% | 16.87% |
JPY=X USD/JPY | 2.01% | -7.09% | 1.89% | -5.03% | 11.87% | 1.00% | -9.65% |
Correlation
The correlation between JHYP.L and JPY=X is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020 | -0.26 |
The correlation between JHYP.L and JPY=X shifts across timeframes, from -0.27 (5 years) to -0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JHYP.L vs. JPY=X — Risk / Return Rank
JHYP.L
JPY=X
JHYP.L vs. JPY=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) and USD/JPY (JPY=X). 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.
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.08 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 0.48 | +2.74 |
| Martin ratioReturn relative to average drawdown | 13.55 | 1.08 | +12.47 |
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Drawdowns
JHYP.L vs. JPY=X - Drawdown Comparison
The maximum JHYP.L drawdown since its inception was -15.52%, smaller than the maximum JPY=X drawdown of -22.90%. Use the drawdown chart below to compare losses from any high point for JHYP.L and JPY=X.
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Drawdown Indicators
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.52% | -22.90% | +7.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -6.01% | +3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -4.49% | -12.78% | +8.29% |
Max Drawdown (5Y)Largest decline over 5 years | -15.52% | -22.90% | +7.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.90% | — |
Current DrawdownCurrent decline from peak | 0.00% | -19.04% | +19.04% |
Average DrawdownAverage peak-to-trough decline | -3.21% | -11.16% | +7.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 2.78% | -2.16% |
Volatility
JHYP.L vs. JPY=X - Volatility Comparison
The current volatility for JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) is 0.68%, while USD/JPY (JPY=X) has a volatility of 1.71%. This indicates that JHYP.L experiences smaller price fluctuations and is considered to be less risky than JPY=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.68% | 1.71% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.80% | 5.02% | -2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 6.38% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 8.31% | -2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.82% | 8.78% | -2.96% |
Frequently Asked Questions
JHYP.L and JPY=X have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for JHYP.L and JPY=X
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