JREI.L vs. HSXD.L
JREI.L (JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist)) and HSXD.L (HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF) are both Japan Equities funds. JREI.L is actively managed, while HSXD.L is passively managed. Over the past 3 years, JREI.L returned 18.23%/yr vs 23.98%/yr for HSXD.L. A 0.61 correlation means they provide meaningful diversification when combined.
Performance
JREI.L vs. HSXD.L - Performance Comparison
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Returns By Period
In the year-to-date period, JREI.L achieves a 17.97% return, which is significantly lower than HSXD.L's 27.12% return.
JREI.L
- 1D
- 1.14%
- 1M
- 0.54%
- 6M
- 11.38%
- YTD
- 17.97%
- 1Y
- 36.72%
- 3Y*
- 18.23%
- 5Y*
- —
- 10Y*
- —
HSXD.L
- 1D
- -1.47%
- 1M
- -7.17%
- 6M
- 21.56%
- YTD
- 27.12%
- 1Y
- 45.66%
- 3Y*
- 23.98%
- 5Y*
- 9.90%
- 10Y*
- —
JREI.L vs. HSXD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREI.L JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist) | 17.97% | 24.16% | 7.95% | 20.04% | -10.89% |
HSXD.L HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF | 27.12% | 32.35% | 14.83% | 4.23% | -9.82% |
Correlation
The correlation between JREI.L and HSXD.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2022 | 0.61 |
The correlation between JREI.L and HSXD.L has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.
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Return for Risk
JREI.L vs. HSXD.L — Risk / Return Rank
JREI.L
HSXD.L
JREI.L vs. HSXD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist) (JREI.L) and HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF (HSXD.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 | HSXD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 3.51 | -0.61 |
| Martin ratioReturn relative to average drawdown | 9.37 | 10.85 | -1.48 |
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Drawdowns
JREI.L vs. HSXD.L - Drawdown Comparison
The maximum JREI.L drawdown since its inception was -21.64%, smaller than the maximum HSXD.L drawdown of -38.23%. Use the drawdown chart below to compare losses from any high point for JREI.L and HSXD.L.
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Drawdown Indicators
| JREI.L | HSXD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -38.23% | +16.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -12.86% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -20.22% | +5.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.89% | — |
Current DrawdownCurrent decline from peak | -2.92% | -9.93% | +7.01% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -14.15% | +9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 4.16% | -0.37% |
Volatility
JREI.L vs. HSXD.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist) (JREI.L) is 7.02%, while HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF (HSXD.L) has a volatility of 10.03%. This indicates that JREI.L experiences smaller price fluctuations and is considered to be less risky than HSXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREI.L | HSXD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 10.03% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 17.95% | 20.15% | -2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.52% | 22.21% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.56% | 19.62% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.56% | 19.15% | -0.59% |
Dividends
JREI.L vs. HSXD.L - Dividend Comparison
JREI.L's dividend yield for the trailing twelve months is around 1.46%, while HSXD.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HSXD.L HSBC Asia Pacific Ex Japan Screened Equity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JREI.L JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist) | 1.46% | 1.76% | 1.58% | 1.66% | 2.01% |
Frequently Asked Questions
JREI.L and HSXD.L have a correlation of 0.66, 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: JPMorgan and HSBC.
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