JRJE.L vs. ISJP.L
JRJE.L (JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - JRJE.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, JRJE.L returned 17.56%/yr vs 17.29%/yr for ISJP.L. Their correlation of 0.83 suggests significant overlap in exposure. JRJE.L charges 0.25%/yr vs 0.58%/yr for ISJP.L.
Performance
JRJE.L vs. ISJP.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRJE.L achieves a 19.44% return, which is significantly higher than ISJP.L's 18.26% return.
JRJE.L
- 1D
- 0.50%
- 1M
- 3.52%
- YTD
- 19.44%
- 6M
- 19.65%
- 1Y
- 39.05%
- 3Y*
- 17.56%
- 5Y*
- —
- 10Y*
- —
ISJP.L
- 1D
- 0.95%
- 1M
- 2.34%
- YTD
- 18.26%
- 6M
- 18.54%
- 1Y
- 35.56%
- 3Y*
- 17.29%
- 5Y*
- 8.86%
- 10Y*
- 8.38%
JRJE.L vs. ISJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRJE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 19.44% | 15.91% | 9.56% | 13.90% | -0.96% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 18.26% | 20.89% | 4.99% | 7.01% | 2.18% |
Correlation
The correlation between JRJE.L and ISJP.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.83 |
The correlation between JRJE.L and ISJP.L has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
JRJE.L vs. ISJP.L — Risk / Return Rank
JRJE.L
ISJP.L
JRJE.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 (acc) (JRJE.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.
| JRJE.L | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.41 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 3.26 | +0.39 |
| Martin ratioReturn relative to average drawdown | 11.59 | 10.84 | +0.75 |
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Drawdowns
JRJE.L vs. ISJP.L - Drawdown Comparison
The maximum JRJE.L drawdown since its inception was -14.26%, smaller than the maximum ISJP.L drawdown of -62.77%. Use the drawdown chart below to compare losses from any high point for JRJE.L and ISJP.L.
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Drawdown Indicators
| JRJE.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.26% | -62.77% | +48.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.63% | -10.84% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -14.26% | -11.23% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.01% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.98% | — |
Current DrawdownCurrent decline from peak | -3.07% | -0.47% | -2.60% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -19.82% | +16.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 3.27% | +0.09% |
Volatility
JRJE.L vs. ISJP.L - Volatility Comparison
JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.L) has a higher volatility of 6.50% compared to iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) at 3.92%. This indicates that JRJE.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
| JRJE.L | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 3.92% | +2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 13.48% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.93% | 15.48% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.20% | 14.24% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.20% | 15.49% | +0.71% |
JRJE.L vs. ISJP.L - Expense Ratio Comparison
JRJE.L has a 0.25% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
JRJE.L vs. ISJP.L - Dividend Comparison
JRJE.L has not paid dividends to shareholders, while ISJP.L's dividend yield for the trailing twelve months is around 1.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.63% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
JRJE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JRJE.L and ISJP.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRJE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRJE.L is cheaper with a 0.25% expense ratio, compared with 0.58% for ISJP.L.
JRJE.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 JRJE.L and 0.58% for ISJP.L.
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