JREA.L vs. LGAP.L
JREA.L (JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)) and LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) are both Japan Equities funds. JREA.L is actively managed, while LGAP.L is passively managed. Over the past 3 years, JREA.L returned 19.71%/yr vs 12.38%/yr for LGAP.L. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
JREA.L vs. LGAP.L - Performance Comparison
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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 LGAP.L's 9.64% return.
JREA.L
- 1D
- -0.40%
- 1M
- -5.46%
- 6M
- 18.37%
- YTD
- 23.48%
- 1Y
- 39.13%
- 3Y*
- 19.71%
- 5Y*
- —
- 10Y*
- —
LGAP.L
- 1D
- -0.40%
- 1M
- 0.61%
- 6M
- 7.65%
- YTD
- 9.64%
- 1Y
- 15.23%
- 3Y*
- 12.38%
- 5Y*
- 5.54%
- 10Y*
- —
JREA.L vs. LGAP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
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% |
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF | 9.64% | 20.97% | 4.67% | 4.82% | -7.79% |
Correlation
The correlation between JREA.L and LGAP.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2022 | 0.80 |
The correlation between JREA.L and LGAP.L has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
JREA.L vs. LGAP.L — Risk / Return Rank
JREA.L
LGAP.L
JREA.L vs. LGAP.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 L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.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.L | LGAP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.19 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 1.72 | +1.58 |
| Martin ratioReturn relative to average drawdown | 10.37 | 4.58 | +5.79 |
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Drawdowns
JREA.L vs. LGAP.L - Drawdown Comparison
The maximum JREA.L drawdown since its inception was -28.16%, smaller than the maximum LGAP.L drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for JREA.L and LGAP.L.
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Drawdown Indicators
| JREA.L | LGAP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.16% | -38.56% | +10.40% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -8.50% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -19.01% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.31% | — |
Current DrawdownCurrent decline from peak | -7.65% | -2.20% | -5.45% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -7.75% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 3.21% | +0.55% |
Volatility
JREA.L vs. LGAP.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 L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) at 3.45%. This indicates that JREA.L's price experiences larger fluctuations and is considered to be riskier than LGAP.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.L | LGAP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.04% | 3.45% | +5.59% |
Volatility (6M)Calculated over the trailing 6-month period | 19.03% | 11.66% | +7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.16% | 14.03% | +7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.58% | 17.46% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 19.26% | +0.32% |
Dividends
JREA.L vs. LGAP.L - Dividend Comparison
Neither JREA.L nor LGAP.L has paid dividends to shareholders.
Frequently Asked Questions
JREA.L and LGAP.L have a correlation of 0.72, 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 L&G.
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