JRIE.L vs. IJPN.L

Last updated Jun 5, 2026

JRIE.L (JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and IJPN.L (iShares MSCI Japan UCITS ETF (Dist)) are both Japan Equities funds tracking the TOPIX TR JPY, from JPMorgan and iShares respectively. Both are passively managed. Over the past 3 years, JRIE.L returned 17.01%/yr vs 16.17%/yr for IJPN.L. At a 0.26 correlation, their price movements are largely independent. JRIE.L charges 0.25%/yr vs 0.59%/yr for IJPN.L.

Performance

JRIE.L vs. IJPN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRIE.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JRIE.L having a 16.88% return and IJPN.L slightly lower at 16.83%.

JRIE.L

• 1D: -0.38%
• 1M: 6.24%
• YTD: 16.88%
• 6M: 15.92%
• 1Y: 34.73%
• 3Y*: 17.01%
• 5Y*: —
• 10Y*: —

IJPN.L

• 1D: -0.35%
• 1M: 6.24%
• YTD: 16.83%
• 6M: 16.02%
• 1Y: 34.98%
• 3Y*: 16.17%
• 5Y*: 10.52%
• 10Y*: 10.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JRIE.L vs. IJPN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JRIE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	16.88%	14.41%	12.30%	14.34%	4.72%
IJPN.L iShares MSCI Japan UCITS ETF (Dist)	16.83%	18.18%	9.39%	14.03%	6.24%

Correlation

The correlation between JRIE.L and IJPN.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022	0.26

The correlation between JRIE.L and IJPN.L shifts across timeframes, from 0.26 (all time) to 0.42 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JRIE.L vs. IJPN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JRIE.L

JRIE.L Risk / Return Rank: 97
JRIE.L Sharpe Ratio Rank: 97
JRIE.L Sortino Ratio Rank: 96
JRIE.L Omega Ratio Rank: 97
JRIE.L Calmar Ratio Rank: 98
JRIE.L Martin Ratio Rank: 97

IJPN.L

IJPN.L Risk / Return Rank: 60
IJPN.L Sharpe Ratio Rank: 56
IJPN.L Sortino Ratio Rank: 58
IJPN.L Omega Ratio Rank: 59
IJPN.L Calmar Ratio Rank: 66
IJPN.L Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JRIE.L vs. IJPN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRIE.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.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.

	JRIE.L	IJPN.L	Difference
Sharpe ratio: Return per unit of total volatility	4.92	1.88	+3.04
Sortino ratio: Return per unit of downside risk	5.71	2.71	+2.99
Omega ratio: Gain probability vs. loss probability	1.84	1.36	+0.48
Calmar ratio: Return relative to maximum drawdown	16.64	3.22	+13.42
Martin ratio: Return relative to average drawdown	46.46	10.52	+35.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRIE.L vs. IJPN.L - Sharpe Ratio Comparison

The current JRIE.L Sharpe Ratio is 4.92, which is higher than the IJPN.L Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of JRIE.L and IJPN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JRIE.L	IJPN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.92	1.88	+3.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.80	0.42	+3.38

Drawdowns

JRIE.L vs. IJPN.L - Drawdown Comparison

The maximum JRIE.L drawdown since its inception was -13.10%, smaller than the maximum IJPN.L drawdown of -39.73%. Use the drawdown chart below to compare losses from any high point for JRIE.L and IJPN.L.

Drawdown Indicators

	JRIE.L	IJPN.L	Difference
Max Drawdown Largest peak-to-trough decline	-13.10%	-39.73%	+26.63%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-10.80%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.10%	-14.09%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-24.34%	—
Current Drawdown Current decline from peak	-0.38%	-0.35%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.88%	-10.09%	+7.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.32%	—

Volatility

JRIE.L vs. IJPN.L - Volatility Comparison

JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRIE.L) and iShares MSCI Japan UCITS ETF (Dist) (IJPN.L) have volatilities of 3.86% and 3.88%, 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.

Volatility by Period

	JRIE.L	IJPN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.88%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	—	15.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.53%	18.54%	+15.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.66%	15.88%	+19.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.66%	15.98%	+19.68%

JRIE.L vs. IJPN.L - Expense Ratio Comparison

JRIE.L has a 0.25% expense ratio, which is lower than IJPN.L's 0.59% expense ratio.

Dividends

JRIE.L vs. IJPN.L - Dividend Comparison

JRIE.L's dividend yield for the trailing twelve months is around 1.52%, less than IJPN.L's 2.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJPN.L iShares MSCI Japan UCITS ETF (Dist)	2.03%	2.25%	1.95%	1.81%	2.10%	1.66%	1.75%	1.90%	1.89%	1.53%	1.55%	0.87%
JRIE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	1.52%	1.81%	1.53%	1.72%	2.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JRIE.L and IJPN.L in my portfolio?

JRIE.L and IJPN.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRIE.L or IJPN.L?

On fees, JRIE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRIE.L or IJPN.L?

JRIE.L is cheaper with a 0.25% expense ratio, compared with 0.59% for IJPN.L.

What is the main difference between JRIE.L and IJPN.L?

Both ETFs track TOPIX TR JPY. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRIE.L and 0.59% for IJPN.L.