JREI.L vs. CJPU.L
JREI.L (JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist)) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds. JREI.L is actively managed, while CJPU.L is passively managed. Over the past 3 years, JREI.L returned 15.87%/yr vs 16.15%/yr for CJPU.L. With a 0.97 correlation, they move nearly in lockstep. JREI.L charges 0.25%/yr vs 0.12%/yr for CJPU.L.
Performance
JREI.L vs. CJPU.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JREI.L having a 12.43% return and CJPU.L slightly higher at 12.44%.
JREI.L
- 1D
- -2.47%
- 1M
- -5.81%
- 6M
- 5.94%
- YTD
- 12.43%
- 1Y
- 29.18%
- 3Y*
- 15.87%
- 5Y*
- —
- 10Y*
- —
CJPU.L
- 1D
- -2.51%
- 1M
- -5.70%
- 6M
- 6.20%
- YTD
- 12.44%
- 1Y
- 30.44%
- 3Y*
- 16.15%
- 5Y*
- 8.69%
- 10Y*
- 8.85%
JREI.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREI.L JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) | 12.43% | 24.16% | 7.95% | 20.04% | -10.89% |
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.44% | 26.13% | 7.33% | 20.25% | -10.45% |
Correlation
The correlation between JREI.L and CJPU.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2022 | 0.97 |
The correlation between JREI.L and CJPU.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
JREI.L vs. CJPU.L — Risk / Return Rank
JREI.L
CJPU.L
JREI.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) (JREI.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.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.
| JREI.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.37 | 0.00 |
| Martin ratioReturn relative to average drawdown | 7.57 | 7.70 | -0.13 |
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Drawdowns
JREI.L vs. CJPU.L - Drawdown Comparison
The maximum JREI.L drawdown since its inception was -21.64%, smaller than the maximum CJPU.L drawdown of -32.64%. Use the drawdown chart below to compare losses from any high point for JREI.L and CJPU.L.
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Drawdown Indicators
| JREI.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -32.64% | +11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -12.79% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -14.74% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.64% | — |
Current DrawdownCurrent decline from peak | -7.48% | -7.07% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -5.86% | +0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 3.94% | -0.10% |
Volatility
JREI.L vs. CJPU.L - Volatility Comparison
JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) (JREI.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) have volatilities of 7.31% and 7.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREI.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 7.14% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 18.19% | 18.29% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.73% | 21.85% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.59% | 18.44% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 17.12% | +1.47% |
JREI.L vs. CJPU.L - Expense Ratio Comparison
JREI.L has a 0.25% expense ratio, which is higher than CJPU.L's 0.12% 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
JREI.L vs. CJPU.L - Dividend Comparison
JREI.L's dividend yield for the trailing twelve months is around 1.53%, while CJPU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JREI.L JPM Japan Research Enhanced Index Equity Active UCITS ETF USD (Dist) | 1.53% | 1.76% | 1.58% | 1.66% | 2.01% |
Frequently Asked Questions
With a correlation of 0.99, JREI.L and CJPU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CJPU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CJPU.L is cheaper with a 0.12% expense ratio, compared with 0.25% for JREI.L.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JREI.L and 0.12% for CJPU.L.
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