JRIE.L vs. ISJP.L

Last updated Jun 5, 2026

JRIE.L (JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - JRIE.L tracks the TOPIX TR JPY while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 3 years, JRIE.L returned 17.01%/yr vs 14.99%/yr for ISJP.L. At a 0.22 correlation, their price movements are largely independent. JRIE.L charges 0.25%/yr vs 0.58%/yr for ISJP.L.

Performance

JRIE.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRIE.L achieves a 16.88% return, which is significantly higher than ISJP.L's 15.08% return.

JRIE.L

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

ISJP.L

• 1D: 0.31%
• 1M: 5.68%
• YTD: 15.08%
• 6M: 15.82%
• 1Y: 31.49%
• 3Y*: 14.99%
• 5Y*: 8.64%
• 10Y*: 8.58%

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

JRIE.L vs. ISJP.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%
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist)	15.08%	20.89%	4.99%	7.01%	10.68%

Correlation

The correlation between JRIE.L and ISJP.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022	0.22

The correlation between JRIE.L and ISJP.L shifts across timeframes, from 0.22 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JRIE.L vs. ISJP.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

ISJP.L

ISJP.L Risk / Return Rank: 61
ISJP.L Sharpe Ratio Rank: 63
ISJP.L Sortino Ratio Rank: 61
ISJP.L Omega Ratio Rank: 65
ISJP.L Calmar Ratio Rank: 59
ISJP.L Martin Ratio Rank: 56

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. ISJP.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 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.

	JRIE.L	ISJP.L	Difference
Sharpe ratio: Return per unit of total volatility	4.92	2.07	+2.85
Sortino ratio: Return per unit of downside risk	5.71	2.82	+2.89
Omega ratio: Gain probability vs. loss probability	1.84	1.38	+0.45
Calmar ratio: Return relative to maximum drawdown	16.64	2.89	+13.75
Martin ratio: Return relative to average drawdown	46.46	9.66	+36.79
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. ISJP.L - Sharpe Ratio Comparison

The current JRIE.L Sharpe Ratio is 4.92, which is higher than the ISJP.L Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of JRIE.L and ISJP.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	ISJP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.92	2.07	+2.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.80	0.48	+3.31

Drawdowns

JRIE.L vs. ISJP.L - Drawdown Comparison

The maximum JRIE.L drawdown since its inception was -13.10%, smaller than the maximum ISJP.L drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for JRIE.L and ISJP.L.

Drawdown Indicators

	JRIE.L	ISJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-13.10%	-32.93%	+19.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-10.84%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	-13.10%	-11.23%	-1.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.98%	—
Current Drawdown Current decline from peak	-0.38%	-1.25%	+0.87%
Average Drawdown Average peak-to-trough decline	-2.88%	-6.22%	+3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.25%	—

Volatility

JRIE.L vs. ISJP.L - Volatility Comparison

The current volatility for JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRIE.L) is 3.86%, while iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) has a volatility of 4.25%. This indicates that JRIE.L experiences smaller price fluctuations and is considered to be less risky than ISJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRIE.L	ISJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	4.25%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	—	13.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.53%	15.17%	+19.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.66%	14.22%	+21.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.66%	15.62%	+20.04%

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

JRIE.L has a 0.25% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.

Dividends

JRIE.L vs. ISJP.L - Dividend Comparison

JRIE.L's dividend yield for the trailing twelve months is around 1.52%, less than ISJP.L's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist)	1.67%	1.85%	1.73%	1.77%	1.99%	1.52%	1.58%	1.53%	1.39%	1.29%	1.07%	0.68%
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 ISJP.L in my portfolio?

JRIE.L and ISJP.L have a correlation of 0.33, 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 ISJP.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 ISJP.L?

JRIE.L is cheaper with a 0.25% expense ratio, compared with 0.58% for ISJP.L.

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

JRIE.L tracks TOPIX TR JPY, while ISJP.L tracks MSCI Japan Small Cap NR JPY. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRIE.L and 0.58% for ISJP.L.