JREJ.L vs. LGJP.L
JREJ.L (JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc)) and LGJP.L (L&G Japan Equity UCITS ETF) are both Japan Equities funds. JREJ.L is actively managed, while LGJP.L is passively managed. Over the past 3 years, JREJ.L returned 17.38%/yr vs 17.92%/yr for LGJP.L. With a 0.98 correlation, they move nearly in lockstep.
Performance
JREJ.L vs. LGJP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JREJ.L having a 15.17% return and LGJP.L slightly lower at 15.08%.
JREJ.L
- 1D
- -1.74%
- 1M
- -1.92%
- 6M
- 8.74%
- YTD
- 15.17%
- 1Y
- 33.48%
- 3Y*
- 17.38%
- 5Y*
- —
- 10Y*
- —
LGJP.L
- 1D
- -0.68%
- 1M
- -0.39%
- 6M
- 9.30%
- YTD
- 15.08%
- 1Y
- 33.92%
- 3Y*
- 17.92%
- 5Y*
- 9.51%
- 10Y*
- —
JREJ.L vs. LGJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREJ.L JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc) | 15.17% | 24.21% | 7.80% | 20.39% | -10.13% |
LGJP.L L&G Japan Equity UCITS ETF | 15.08% | 25.67% | 8.35% | 20.25% | -10.00% |
Correlation
The correlation between JREJ.L and LGJP.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 | 0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022 | 0.98 |
The correlation between JREJ.L and LGJP.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
JREJ.L vs. LGJP.L — Risk / Return Rank
JREJ.L
LGJP.L
JREJ.L vs. LGJP.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 (acc) (JREJ.L) and L&G Japan Equity UCITS ETF (LGJP.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.
| JREJ.L | LGJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.76 | 2.53 | +0.23 |
| Martin ratioReturn relative to average drawdown | 8.78 | 8.18 | +0.59 |
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Drawdowns
JREJ.L vs. LGJP.L - Drawdown Comparison
The maximum JREJ.L drawdown since its inception was -20.61%, smaller than the maximum LGJP.L drawdown of -32.19%. Use the drawdown chart below to compare losses from any high point for JREJ.L and LGJP.L.
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Drawdown Indicators
| JREJ.L | LGJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -32.19% | +11.58% |
Max Drawdown (1Y)Largest decline over 1 year | -12.09% | -13.20% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.89% | -14.30% | -0.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.19% | — |
Current DrawdownCurrent decline from peak | -5.23% | -3.27% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -7.57% | +2.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.81% | 4.08% | -0.27% |
Volatility
JREJ.L vs. LGJP.L - Volatility Comparison
JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREJ.L) has a higher volatility of 6.97% compared to L&G Japan Equity UCITS ETF (LGJP.L) at 6.42%. This indicates that JREJ.L's price experiences larger fluctuations and is considered to be riskier than LGJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREJ.L | LGJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 6.42% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 17.87% | 17.61% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.56% | 21.09% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 18.15% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.54% | 18.30% | +0.24% |
Dividends
JREJ.L vs. LGJP.L - Dividend Comparison
Neither JREJ.L nor LGJP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, JREJ.L and LGJP.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.
They also come from different issuers: JPMorgan and L&G.
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