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 3.69%/yr vs 1.20%/yr for JPY=X. At a correlation of -0.27, 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 2.14% return, which is significantly higher than JPY=X's 0.85% return.
JHYP.L
- 1D
- 0.13%
- 1M
- 0.30%
- YTD
- 2.14%
- 6M
- 2.85%
- 1Y
- 8.24%
- 3Y*
- 8.74%
- 5Y*
- 3.69%
- 10Y*
- —
JPY=X
- 1D
- 0.57%
- 1M
- 1.83%
- YTD
- 0.85%
- 6M
- -0.11%
- 1Y
- 1.75%
- 3Y*
- -2.36%
- 5Y*
- 1.20%
- 10Y*
- 0.86%
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) | 2.14% | 9.26% | 7.69% | 9.79% | -10.02% | 2.97% | 14.80% |
JPY=X USD/JPY | 0.85% | -7.09% | 1.89% | -5.03% | 11.87% | 1.00% | -7.86% |
Correlation
The correlation between JHYP.L and JPY=X is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.29 |
Correlation (All Time) Calculated using the full available price history since May 1, 2020 | -0.27 |
The correlation between JHYP.L and JPY=X shifts across timeframes, from -0.29 (5 years) to -0.18 (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.
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.91 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.04 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 0.23 | +3.17 |
| Martin ratioReturn relative to average drawdown | 14.15 | 0.53 | +13.62 |
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
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 0.22 | +1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.13 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.22 | +0.78 |
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.
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Drawdown Indicators
| JHYP.L | JPY=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.44% | -22.90% | +7.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.46% | -6.01% | +3.55% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -12.78% | +8.20% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -22.90% | +7.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.90% | — |
Current DrawdownCurrent decline from peak | -0.03% | -19.96% | +19.93% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -11.10% | +7.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 2.73% | -2.14% |
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 1.06%, while USD/JPY (JPY=X) has a volatility of 1.67%. 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 | 1.06% | 1.67% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 5.14% | -2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 6.48% | -2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 8.32% | -2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.68% | 9.38% | -3.70% |
Frequently Asked Questions
JHYP.L and JPY=X have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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