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JREA.L vs. IPXJ.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JREA.L vs. IPXJ.L

Last updated Jul 16, 2026
Documentation

JREA.L (JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)) and IPXJ.L (iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)) are both Japan Equities funds. JREA.L is actively managed, while IPXJ.L is passively managed. Over the past 3 years, JREA.L returned 19.71%/yr vs 12.30%/yr for IPXJ.L. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

JREA.L vs. IPXJ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREA.L) and iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, JREA.L achieves a 23.48% return, which is significantly higher than IPXJ.L's 10.20% return.

JREA.L

1D
-0.40%
1M
-5.46%
6M
18.37%
YTD
23.48%
1Y
39.13%
3Y*
19.71%
5Y*
—
10Y*
—

IPXJ.L

1D
-0.55%
1M
1.44%
6M
8.32%
YTD
10.20%
1Y
15.90%
3Y*
12.30%
5Y*
5.56%
10Y*
7.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JREA.L vs. IPXJ.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
JREA.L
JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)		23.48%29.63%8.81%4.45%-11.27%
IPXJ.L
iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)		10.20%19.91%4.45%5.64%-9.09%

Correlation

The correlation between JREA.L and IPXJ.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.71

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

0.79

Correlation (All Time)
Calculated using the full available price history since Mar 28, 2022

0.80

The correlation between JREA.L and IPXJ.L has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

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JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)

iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)

Return for Risk

JREA.L vs. IPXJ.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JREA.L
JREA.L Risk / Return Rank: 7272
Overall Rank
JREA.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
JREA.L Sortino Ratio Rank: 6767
Sortino Ratio Rank
JREA.L Omega Ratio Rank: 7272
Omega Ratio Rank
JREA.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
JREA.L Martin Ratio Rank: 7171
Martin Ratio Rank
IPXJ.L
IPXJ.L Risk / Return Rank: 3939
Overall Rank
IPXJ.L Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
IPXJ.L Sortino Ratio Rank: 4040
Sortino Ratio Rank
IPXJ.L Omega Ratio Rank: 3535
Omega Ratio Rank
IPXJ.L Calmar Ratio Rank: 4343
Calmar Ratio Rank
IPXJ.L Martin Ratio Rank: 3939
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.

JREA.L vs. IPXJ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREA.L) and iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.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.

JREA.LIPXJ.LDifference
Sharpe ratioReturn per unit of total volatility
1.84
1.12

+0.72

Sortino ratioReturn per unit of downside risk
2.46
1.72

+0.74

Omega ratioGain probability vs. loss probability

1.34

1.20

+0.14

Calmar ratioReturn relative to maximum drawdown

3.31

1.81

+1.50

Martin ratioReturn relative to average drawdown

10.37

4.92

+5.45

JREA.L vs. IPXJ.L - Sharpe Ratio Comparison

The current JREA.L Sharpe Ratio is 1.84, which is higher than the IPXJ.L Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of JREA.L and IPXJ.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

JREA.L vs. IPXJ.L - Drawdown Comparison

The maximum JREA.L drawdown since its inception was -28.16%, smaller than the maximum IPXJ.L drawdown of -38.93%. Use the drawdown chart below to compare losses from any high point for JREA.L and IPXJ.L.

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Drawdown Indicators

JREA.LIPXJ.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.16%

-38.93%

+10.77%

Max Drawdown (1Y)

Largest decline over 1 year

-11.77%

-8.53%

-3.24%

Max Drawdown (3Y)

Largest decline over 3 years

-18.58%

-18.67%

+0.09%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.44%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.93%

—

Current Drawdown

Current decline from peak

-7.65%

-1.69%

-5.96%

Average Drawdown

Average peak-to-trough decline

-8.39%

-8.62%

+0.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

3.15%

+0.61%

Volatility

JREA.L vs. IPXJ.L - Volatility Comparison

JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREA.L) has a higher volatility of 9.04% compared to iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist) (IPXJ.L) at 3.37%. This indicates that JREA.L's price experiences larger fluctuations and is considered to be riskier than IPXJ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JREA.LIPXJ.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.04%

3.37%

+5.67%

Volatility (6M)

Calculated over the trailing 6-month period

19.03%

11.42%

+7.61%

Volatility (1Y)

Calculated over the trailing 1-year period

21.16%

13.84%

+7.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.58%

17.21%

+2.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.58%

17.71%

+1.87%

Dividends

JREA.L vs. IPXJ.L - Dividend Comparison

JREA.L has not paid dividends to shareholders, while IPXJ.L's dividend yield for the trailing twelve months is around 3.56%.

PositionTTM20252024202320222021202020192018201720162015
IPXJ.L
iShares MSCI Pacific ex-Japan UCITS ETF USD (Dist)		3.56%2.88%3.49%3.50%3.76%2.92%2.45%3.58%3.92%3.19%3.48%3.44%
JREA.L
JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

JREA.L and IPXJ.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: ETF Issuer and iShares.

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