JREI.L vs. ISJP.L
JREI.L (JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist)) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds. JREI.L is actively managed, while ISJP.L is passively managed. Over the past 3 years, JREI.L returned 18.23%/yr vs 17.79%/yr for ISJP.L. Their correlation of 0.80 suggests significant overlap in exposure.
Performance
JREI.L vs. ISJP.L - Performance Comparison
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Different Trading Currencies
JREI.L is traded in USD, while ISJP.L is traded in GBp. To make them comparable, the ISJP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JREI.L achieves a 17.97% return, which is significantly higher than ISJP.L's 16.53% return.
JREI.L
- 1D
- 1.14%
- 1M
- 0.54%
- 6M
- 11.38%
- YTD
- 17.97%
- 1Y
- 36.72%
- 3Y*
- 18.23%
- 5Y*
- —
- 10Y*
- —
ISJP.L
- 1D
- -0.31%
- 1M
- 1.90%
- 6M
- 12.06%
- YTD
- 16.53%
- 1Y
- 31.78%
- 3Y*
- 17.79%
- 5Y*
- 7.92%
- 10Y*
- 8.10%
JREI.L vs. ISJP.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% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 16.53% | 30.01% | 3.24% | 12.66% | -4.01% |
Correlation
The correlation between JREI.L and ISJP.L is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2022 | 0.80 |
The correlation between JREI.L and ISJP.L has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
JREI.L vs. ISJP.L — Risk / Return Rank
JREI.L
ISJP.L
JREI.L vs. ISJP.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 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.
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 | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 2.68 | +0.21 |
| Martin ratioReturn relative to average drawdown | 9.37 | 8.63 | +0.74 |
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Drawdowns
JREI.L vs. ISJP.L - Drawdown Comparison
The maximum JREI.L drawdown since its inception was -21.64%, smaller than the maximum ISJP.L drawdown of -69.60%. Use the drawdown chart below to compare losses from any high point for JREI.L and ISJP.L.
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Drawdown Indicators
| JREI.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -69.60% | +47.96% |
Max Drawdown (1Y)Largest decline over 1 year | -12.26% | -11.79% | -0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -14.85% | -12.58% | -2.27% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.09% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.04% | — |
Current DrawdownCurrent decline from peak | -2.92% | -1.97% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -30.31% | +25.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 3.67% | +0.12% |
Volatility
JREI.L vs. ISJP.L - Volatility Comparison
JPMorgan ETFs (Ireland) ICAV- Japan Research Enhanced Index Equity Active UCITS ETF - USD (dist) (JREI.L) has a higher volatility of 7.02% compared to iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) at 4.99%. This indicates that JREI.L's price experiences larger fluctuations and is considered to be riskier 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
| JREI.L | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 4.99% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 17.95% | 14.87% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.52% | 17.30% | +4.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.56% | 16.30% | +2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.56% | 16.51% | +2.05% |
Dividends
JREI.L vs. ISJP.L - Dividend Comparison
JREI.L's dividend yield for the trailing twelve months is around 1.46%, more than ISJP.L's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 0.86% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JREI.L and ISJP.L have a correlation of 0.78, 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 iShares.
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