PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
JPJP.L vs. SPX5.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPJP.L vs. SPX5.L

Last updated Jun 5, 2026

JPJP.L (SPDR MSCI Japan UCITS ETF) and SPX5.L (SPDR S&P 500 UCITS ETF) are both exchange-traded funds - JPJP.L is a Japan Equities fund tracking the TOPIX TR JPY, while SPX5.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, JPJP.L returned 10.23%/yr vs 16.17%/yr for SPX5.L. A 0.63 correlation means they provide meaningful diversification when combined. JPJP.L charges 0.12%/yr vs 0.09%/yr for SPX5.L.

Performance

JPJP.L vs. SPX5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Japan UCITS ETF (JPJP.L) and SPDR S&P 500 UCITS ETF (SPX5.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, JPJP.L achieves a 16.36% return, which is significantly higher than SPX5.L's 10.53% return. Over the past 10 years, JPJP.L has underperformed SPX5.L with an annualized return of 10.23%, while SPX5.L has yielded a comparatively higher 16.17% annualized return.

JPJP.L

1D
-0.43%
1M
6.24%
YTD
16.36%
6M
15.47%
1Y
34.12%
3Y*
15.59%
5Y*
10.18%
10Y*
10.23%

SPX5.L

1D
0.05%
1M
5.53%
YTD
10.53%
6M
10.48%
1Y
29.15%
3Y*
19.03%
5Y*
14.92%
10Y*
16.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPJP.L vs. SPX5.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JPJP.L
SPDR MSCI Japan UCITS ETF		16.36%17.50%9.02%13.95%-7.16%2.15%12.42%13.92%-8.48%13.12%
SPX5.L
SPDR S&P 500 UCITS ETF		10.53%9.34%27.47%19.75%-9.01%30.96%13.52%26.74%-0.04%11.63%

Correlation

The correlation between JPJP.L and SPX5.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.47

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Dec 3, 2015

0.63

The correlation between JPJP.L and SPX5.L shifts across timeframes, from 0.47 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

JPJP.L vs. SPX5.L - Sectors Allocation Comparison

Sectors
JPJP.L
SPX5.L

Industrials

26.0%
8.3%

Technology

19.1%
35.6%

Financial Services

17.5%
11.8%

Consumer Cyclical

12.1%
10.1%

Communication Services

7.9%
11.2%

Healthcare

6.3%
8.5%

Consumer Defensive

3.6%
4.9%

Basic Materials

3.0%
1.8%

Real Estate

2.3%
1.9%

Utilities

1.1%
2.3%

Energy

1.1%
3.5%

Industrials

JPJP.L
26.0%
SPX5.L
8.3%

Technology

JPJP.L
19.1%
SPX5.L
35.6%

Financial Services

JPJP.L
17.5%
SPX5.L
11.8%

Consumer Cyclical

JPJP.L
12.1%
SPX5.L
10.1%

Communication Services

JPJP.L
7.9%
SPX5.L
11.2%

Healthcare

JPJP.L
6.3%
SPX5.L
8.5%

Consumer Defensive

JPJP.L
3.6%
SPX5.L
4.9%

Basic Materials

JPJP.L
3.0%
SPX5.L
1.8%

Real Estate

JPJP.L
2.3%
SPX5.L
1.9%

Utilities

JPJP.L
1.1%
SPX5.L
2.3%

Energy

JPJP.L
1.1%
SPX5.L
3.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR MSCI Japan UCITS ETF

SPDR S&P 500 UCITS ETF

Often compared with JPJP.L:
JPJP.L vs. LCJP.LJPJP.L vs. XDJP.LJPJP.L vs. ISJP.LJPJP.L vs. DXJG.LJPJP.L vs. IGUS.LJPJP.L vs. XMJP.LJPJP.L vs. IUSA.L
Often compared with SPX5.L:
SPX5.L vs. SPYSPX5.L vs. SPXP.LSPX5.L vs. VUSA.DESPX5.L vs. VUSA.LSPX5.L vs. VOOSPX5.L vs. IUSA.LSPX5.L vs. EQQQ.L

Return for Risk

JPJP.L vs. SPX5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPJP.L
JPJP.L Risk / Return Rank: 5959
Overall Rank
JPJP.L Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
JPJP.L Sortino Ratio Rank: 5757
Sortino Ratio Rank
JPJP.L Omega Ratio Rank: 5959
Omega Ratio Rank
JPJP.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
JPJP.L Martin Ratio Rank: 5858
Martin Ratio Rank
SPX5.L
SPX5.L Risk / Return Rank: 8383
Overall Rank
SPX5.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
SPX5.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
SPX5.L Omega Ratio Rank: 8686
Omega Ratio Rank
SPX5.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SPX5.L Martin Ratio Rank: 7979
Martin Ratio Rank
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.

JPJP.L vs. SPX5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (JPJP.L) and SPDR S&P 500 UCITS ETF (SPX5.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.

JPJP.LSPX5.LDifference
Sharpe ratioReturn per unit of total volatility
1.86
2.76

-0.90

Sortino ratioReturn per unit of downside risk
2.66
3.71

-1.05

Omega ratioGain probability vs. loss probability

1.35

1.52

-0.16

Calmar ratioReturn relative to maximum drawdown

3.17

4.10

-0.93

Martin ratioReturn relative to average drawdown

10.20

15.08

-4.87

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPJP.L vs. SPX5.L - Sharpe Ratio Comparison

The current JPJP.L Sharpe Ratio is 1.86, which is lower than the SPX5.L Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of JPJP.L and SPX5.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.

Loading charts...

Sharpe Ratios by Period

JPJP.LSPX5.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.86

2.76

-0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

1.05

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

1.04

-0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

1.04

-0.45

Drawdowns

JPJP.L vs. SPX5.L - Drawdown Comparison

The maximum JPJP.L drawdown since its inception was -24.23%, roughly equal to the maximum SPX5.L drawdown of -25.45%. Use the drawdown chart below to compare losses from any high point for JPJP.L and SPX5.L.

Loading charts...

Drawdown Indicators

JPJP.LSPX5.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.23%

-25.45%

+1.22%

Max Drawdown (1Y)

Largest decline over 1 year

-10.70%

-7.07%

-3.63%

Max Drawdown (3Y)

Largest decline over 3 years

-14.21%

-20.90%

+6.69%

Max Drawdown (5Y)

Largest decline over 5 years

-18.57%

-20.90%

+2.33%

Max Drawdown (10Y)

Largest decline over 10 years

-24.23%

-25.45%

+1.22%

Current Drawdown

Current decline from peak

-0.43%

-0.22%

-0.21%

Average Drawdown

Average peak-to-trough decline

-5.05%

-3.18%

-1.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

1.93%

+1.41%

Volatility

JPJP.L vs. SPX5.L - Volatility Comparison

SPDR MSCI Japan UCITS ETF (JPJP.L) has a higher volatility of 4.15% compared to SPDR S&P 500 UCITS ETF (SPX5.L) at 2.67%. This indicates that JPJP.L's price experiences larger fluctuations and is considered to be riskier than SPX5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

JPJP.LSPX5.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.15%

2.67%

+1.48%

Volatility (6M)

Calculated over the trailing 6-month period

14.73%

7.16%

+7.57%

Volatility (1Y)

Calculated over the trailing 1-year period

18.27%

10.50%

+7.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.82%

14.22%

+1.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

15.52%

+0.42%

JPJP.L vs. SPX5.L - Expense Ratio Comparison

JPJP.L has a 0.12% expense ratio, which is higher than SPX5.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JPJP.L vs. SPX5.L - Dividend Comparison

JPJP.L has not paid dividends to shareholders, while SPX5.L's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
JPJP.L
SPDR MSCI Japan 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%
SPX5.L
SPDR S&P 500 UCITS ETF		0.89%0.98%1.04%1.21%1.39%0.98%1.40%1.76%1.71%2.36%1.49%1.68%

Frequently Asked Questions

JPJP.L and SPX5.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SPX5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SPX5.L is cheaper with a 0.09% expense ratio, compared with 0.12% for JPJP.L.

JPJP.L is categorized as Japan Equities, while SPX5.L is S&P 500. JPJP.L tracks TOPIX TR JPY, while SPX5.L tracks S&P 500 Index. Their fees differ too: 0.12% for JPJP.L and 0.09% for SPX5.L.

Portfolio Optimizer

Find the right allocation for JPJP.L and SPX5.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer