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JPJP.L vs. UDVD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPJP.L vs. UDVD.L

Last updated Jun 27, 2026

JPJP.L (SPDR MSCI Japan UCITS ETF) and UDVD.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) are both exchange-traded funds - JPJP.L is a Japan Equities fund tracking the TOPIX TR JPY, while UDVD.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index. Both are passively managed. Over the past 10 years, JPJP.L returned 9.88%/yr vs 9.53%/yr for UDVD.L. At a 0.45 correlation, their price movements are largely independent. JPJP.L charges 0.12%/yr vs 0.35%/yr for UDVD.L.

Performance

JPJP.L vs. UDVD.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 US Dividend Aristocrats UCITS ETF Dis (UDVD.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

JPJP.L is traded in GBP, while UDVD.L is traded in USD. To make them comparable, the UDVD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, JPJP.L achieves a 18.25% return, which is significantly higher than UDVD.L's 12.93% return. Both investments have delivered pretty close results over the past 10 years, with JPJP.L having a 9.88% annualized return and UDVD.L not far behind at 9.53%.

JPJP.L

1D
-0.53%
1M
3.44%
YTD
18.25%
6M
18.42%
1Y
37.54%
3Y*
17.54%
5Y*
10.35%
10Y*
9.88%

UDVD.L

1D
0.55%
1M
4.50%
YTD
12.93%
6M
13.51%
1Y
21.17%
3Y*
9.41%
5Y*
7.94%
10Y*
9.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
JPJP.L
SPDR MSCI Japan UCITS ETF		18.25%17.50%9.03%13.95%-7.16%2.15%12.42%13.92%-8.48%13.12%
UDVD.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		12.93%0.84%9.52%-3.05%11.52%26.23%-2.19%17.98%1.76%5.73%

Correlation

The correlation between JPJP.L and UDVD.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.23

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

0.27

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

0.32

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

0.44

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2015

0.45

Over the past year, the correlation between JPJP.L and UDVD.L has dropped to 0.23 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

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

Sectors
JPJP.L
UDVD.L

Industrials

24.4%
17.3%

Technology

21.1%
12.1%

Financial Services

17.4%
12.0%

Consumer Cyclical

12.1%
5.1%

Communication Services

8.9%
2.6%

Healthcare

5.8%
7.5%

Consumer Defensive

3.5%
16.3%

Basic Materials

3.0%
5.4%

Real Estate

1.9%
4.5%

Utilities

1.0%
14.2%

Energy

0.9%
3.1%

Industrials

JPJP.L
24.4%
UDVD.L
17.3%

Technology

JPJP.L
21.1%
UDVD.L
12.1%

Financial Services

JPJP.L
17.4%
UDVD.L
12.0%

Consumer Cyclical

JPJP.L
12.1%
UDVD.L
5.1%

Communication Services

JPJP.L
8.9%
UDVD.L
2.6%

Healthcare

JPJP.L
5.8%
UDVD.L
7.5%

Consumer Defensive

JPJP.L
3.5%
UDVD.L
16.3%

Basic Materials

JPJP.L
3.0%
UDVD.L
5.4%

Real Estate

JPJP.L
1.9%
UDVD.L
4.5%

Utilities

JPJP.L
1.0%
UDVD.L
14.2%

Energy

JPJP.L
0.9%
UDVD.L
3.1%

Compare stocks, funds, or ETFs

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SPDR MSCI Japan UCITS ETF

SPDR S&P US Dividend Aristocrats UCITS ETF Dis

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 UDVD.L:
UDVD.L vs. SCHDUDVD.L vs. USDV.LUDVD.L vs. VHYD.LUDVD.L vs. VWRD.LUDVD.L vs. WQDV.LUDVD.L vs. JEPQUDVD.L vs. DGRO

Return for Risk

JPJP.L vs. UDVD.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: 7272
Overall Rank
JPJP.L Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
JPJP.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
JPJP.L Omega Ratio Rank: 7272
Omega Ratio Rank
JPJP.L Calmar Ratio Rank: 7878
Calmar Ratio Rank
JPJP.L Martin Ratio Rank: 7070
Martin Ratio Rank
UDVD.L
UDVD.L Risk / Return Rank: 5252
Overall Rank
UDVD.L Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
UDVD.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
UDVD.L Omega Ratio Rank: 5151
Omega Ratio Rank
UDVD.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
UDVD.L Martin Ratio Rank: 4141
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. UDVD.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 US Dividend Aristocrats UCITS ETF Dis (UDVD.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.

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.

JPJP.LUDVD.LDifference
Sharpe ratioReturn per unit of total volatility
1.96
1.97

-0.02

Sortino ratioReturn per unit of downside risk
2.72
2.76

-0.04

Omega ratioGain probability vs. loss probability

1.37

1.34

+0.02

Calmar ratioReturn relative to maximum drawdown

3.49

3.26

+0.23

Martin ratioReturn relative to average drawdown

11.08

8.53

+2.55

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

The current JPJP.L Sharpe Ratio is 1.96, which is comparable to the UDVD.L Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of JPJP.L and UDVD.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.

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Drawdowns

JPJP.L vs. UDVD.L - Drawdown Comparison

The maximum JPJP.L drawdown since its inception was -99.54%, which is greater than UDVD.L's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for JPJP.L and UDVD.L.

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Drawdown Indicators

JPJP.LUDVD.LDifference

Max Drawdown

Largest peak-to-trough decline

-99.54%

-28.19%

-71.35%

Max Drawdown (1Y)

Largest decline over 1 year

-10.71%

-6.47%

-4.24%

Max Drawdown (3Y)

Largest decline over 3 years

-14.21%

-16.57%

+2.36%

Max Drawdown (5Y)

Largest decline over 5 years

-18.57%

-16.57%

-2.00%

Max Drawdown (10Y)

Largest decline over 10 years

-99.39%

-28.19%

-71.20%

Current Drawdown

Current decline from peak

-98.58%

0.00%

-98.58%

Average Drawdown

Average peak-to-trough decline

-99.01%

-4.19%

-94.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

2.48%

+0.89%

Volatility

JPJP.L vs. UDVD.L - Volatility Comparison

SPDR MSCI Japan UCITS ETF (JPJP.L) has a higher volatility of 6.55% compared to SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) at 3.07%. This indicates that JPJP.L's price experiences larger fluctuations and is considered to be riskier than UDVD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JPJP.LUDVD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.55%

3.07%

+3.48%

Volatility (6M)

Calculated over the trailing 6-month period

15.71%

8.21%

+7.50%

Volatility (1Y)

Calculated over the trailing 1-year period

19.11%

10.68%

+8.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.03%

13.76%

+2.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4,446.36%

15.87%

+4,430.49%

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

JPJP.L has a 0.12% expense ratio, which is lower than UDVD.L's 0.35% expense ratio.

Dividends

JPJP.L vs. UDVD.L - Dividend Comparison

JPJP.L has not paid dividends to shareholders, while UDVD.L's dividend yield for the trailing twelve months is around 2.03%.

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%
UDVD.L
SPDR S&P US Dividend Aristocrats UCITS ETF Dis		2.03%2.17%2.03%2.24%2.13%2.15%2.36%2.01%2.27%1.78%1.83%2.06%

Frequently Asked Questions

JPJP.L and UDVD.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, JPJP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

JPJP.L is cheaper with a 0.12% expense ratio, compared with 0.35% for UDVD.L.

JPJP.L is categorized as Japan Equities, while UDVD.L is Large Cap Blend Equities. JPJP.L tracks TOPIX TR JPY, while UDVD.L tracks S&P High Yield Dividend Aristocrats Index. Their fees differ too: 0.12% for JPJP.L and 0.35% for UDVD.L.

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