JPNL.L vs. ISJP.L
JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - JPNL.L tracks the TOPIX TR JPY while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 10 years, JPNL.L returned 9.84%/yr vs 8.58%/yr for ISJP.L. A 0.73 correlation means they provide meaningful diversification when combined. JPNL.L charges 0.45%/yr vs 0.58%/yr for ISJP.L.
Performance
JPNL.L vs. ISJP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPNL.L having a 14.78% return and ISJP.L slightly higher at 15.08%. Over the past 10 years, JPNL.L has outperformed ISJP.L with an annualized return of 9.84%, while ISJP.L has yielded a comparatively lower 8.58% annualized return.
JPNL.L
- 1D
- -0.07%
- 1M
- 3.10%
- YTD
- 14.78%
- 6M
- 14.31%
- 1Y
- 31.62%
- 3Y*
- 14.93%
- 5Y*
- 9.61%
- 10Y*
- 9.84%
ISJP.L
- 1D
- 0.31%
- 1M
- 4.30%
- YTD
- 15.08%
- 6M
- 15.70%
- 1Y
- 31.91%
- 3Y*
- 14.99%
- 5Y*
- 8.64%
- 10Y*
- 8.58%
JPNL.L vs. ISJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR | 14.78% | 17.96% | 7.74% | 12.66% | -5.98% | 1.37% | 8.23% | 15.36% | -9.97% | 14.63% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 15.08% | 20.89% | 4.99% | 7.01% | -2.01% | -2.01% | 4.51% | 13.94% | -11.99% | 19.35% |
Correlation
The correlation between JPNL.L and ISJP.L is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2012 | 0.73 |
The correlation between JPNL.L and ISJP.L shifts across timeframes, from 0.68 (5 years) to 0.80 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPNL.L vs. ISJP.L — Risk / Return Rank
JPNL.L
ISJP.L
JPNL.L vs. ISJP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) and iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.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.
| JPNL.L | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.38 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 2.89 | +0.37 |
| Martin ratioReturn relative to average drawdown | 9.96 | 9.66 | +0.29 |
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
| JPNL.L | ISJP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 2.07 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.61 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.55 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.48 | +0.24 |
Drawdowns
JPNL.L vs. ISJP.L - Drawdown Comparison
The maximum JPNL.L drawdown since its inception was -25.42%, smaller than the maximum ISJP.L drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for JPNL.L and ISJP.L.
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Drawdown Indicators
| JPNL.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -32.93% | +7.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.63% | -10.84% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.44% | -11.23% | -2.21% |
Max Drawdown (5Y)Largest decline over 5 years | -18.53% | -21.01% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -25.42% | -28.98% | +3.56% |
Current DrawdownCurrent decline from peak | -0.35% | -1.25% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -5.36% | -6.22% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 3.25% | +0.12% |
Volatility
JPNL.L vs. ISJP.L - Volatility Comparison
The current volatility for Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) is 3.61%, while iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) has a volatility of 4.25%. This indicates that JPNL.L experiences smaller price fluctuations and is considered to be less risky than ISJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPNL.L | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 4.25% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.26% | 13.34% | +0.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.96% | 15.17% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 14.22% | +4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.84% | 15.62% | +2.22% |
JPNL.L vs. ISJP.L - Expense Ratio Comparison
JPNL.L has a 0.45% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
JPNL.L vs. ISJP.L - Dividend Comparison
JPNL.L's dividend yield for the trailing twelve months is around 0.62%, less than ISJP.L's 1.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.67% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.68% |
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR | 0.62% | 0.71% | 0.74% | 1.23% | 1.83% | 1.37% | 1.14% | 1.98% | 1.84% | 1.43% | 1.96% | 1.77% |
Frequently Asked Questions
JPNL.L and ISJP.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPNL.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPNL.L is cheaper with a 0.45% expense ratio, compared with 0.58% for ISJP.L.
JPNL.L tracks TOPIX TR JPY, while ISJP.L tracks MSCI Japan Small Cap NR JPY. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.45% for JPNL.L and 0.58% for ISJP.L.
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