JHYP.L vs. JPY=X

Last updated Apr 3, 2026

Compare and contrast key facts about JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) and USD/JPY (JPY=X).

JHYP.L is a passively managed fund by JPMorgan that tracks the performance of the ICE BofA Gbl HY Constnd TR HGBP. It was launched on Apr 24, 2020.

Performance

JHYP.L vs. JPY=X - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan Global High Yield Corporate Bond Multi-Factor UCITS ETF - GBP Hedged (dist) (JHYP.L) and USD/JPY (JPY=X). The values are adjusted to include any dividend payments, if applicable.

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)	-0.33%	9.26%	7.69%	9.79%	-10.02%	2.97%	14.80%
JPY=X USD/JPY	1.76%	-7.09%	1.89%	-5.03%	11.87%	1.00%	-7.86%

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 -0.33% return, which is significantly lower than JPY=X's 1.76% return.

JHYP.L

• 1D: 0.19%
• 1M: -0.52%
• YTD: -0.33%
• 6M: 1.77%
• 1Y: 7.63%
• 3Y*: 7.74%
• 5Y*: 3.51%
• 10Y*: —

JPY=X

• 1D: 0.56%
• 1M: 1.01%
• YTD: 1.76%
• 6M: 1.58%
• 1Y: -1.96%
• 3Y*: -2.07%
• 5Y*: 0.91%
• 10Y*: 0.76%

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

Return for Risk

JHYP.L vs. JPY=X — Risk / Return Rank

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

JHYP.L

JHYP.L Risk / Return Rank: 83
JHYP.L Sharpe Ratio Rank: 78
JHYP.L Sortino Ratio Rank: 80
JHYP.L Omega Ratio Rank: 75
JHYP.L Calmar Ratio Rank: 89
JHYP.L Martin Ratio Rank: 92

JPY=X

JPY=X Risk / Return Rank: 77
JPY=X Sharpe Ratio Rank: 68
JPY=X Sortino Ratio Rank: 69
JPY=X Omega Ratio Rank: 68
JPY=X Calmar Ratio Rank: 91
JPY=X Martin Ratio Rank: 90

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.

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.

	JHYP.L	JPY=X	Difference
Sharpe ratio Return per unit of total volatility	1.54	-0.22	+1.76
Sortino ratio Return per unit of downside risk	2.18	-0.26	+2.44
Omega ratio Gain probability vs. loss probability	1.30	0.97	+0.33
Calmar ratio Return relative to maximum drawdown	3.50	0.51	+2.99
Martin ratio Return relative to average drawdown	14.58	1.21	+13.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHYP.L vs. JPY=X - Sharpe Ratio Comparison

The current JHYP.L Sharpe Ratio is 1.54, which is higher than the JPY=X Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of JHYP.L and JPY=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JHYP.L	JPY=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	-0.22	+1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.10	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.22	+0.73

Correlation

The correlation between JHYP.L and JPY=X is -0.28. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Drawdowns

JHYP.L vs. JPY=X - Drawdown Comparison

The maximum JHYP.L drawdown since its inception was -15.44%, 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.

Drawdown Indicators

	JHYP.L	JPY=X	Difference
Max Drawdown Largest peak-to-trough decline	-15.44%	-38.80%	+23.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-4.70%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-15.44%	-14.84%	-0.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.84%	—
Current Drawdown Current decline from peak	-1.36%	-1.29%	-0.07%
Average Drawdown Average peak-to-trough decline	-3.30%	-14.82%	+11.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	1.53%	-0.94%

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 1.67%, while USD/JPY (JPY=X) has a volatility of 2.59%. 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.

Volatility by Period

	JHYP.L	JPY=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	2.59%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	4.91%	-2.04%
Volatility (1Y) Calculated over the trailing 1-year period	4.94%	7.11%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.59%	8.35%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.72%	9.41%	-3.69%