JRZE.L vs. SJPA.L
JRZE.L (JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)) and SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) are both exchange-traded funds - JRZE.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while SJPA.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 3 years, JRZE.L returned 15.34%/yr vs 14.56%/yr for SJPA.L. At a 0.49 correlation, their price movements are largely independent. JRZE.L charges 0.25%/yr vs 0.15%/yr for SJPA.L.
Performance
JRZE.L vs. SJPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRZE.L achieves a 7.69% return, which is significantly lower than SJPA.L's 15.47% return.
JRZE.L
- 1D
- 0.00%
- 1M
- 3.60%
- YTD
- 7.69%
- 6M
- 8.43%
- 1Y
- 19.97%
- 3Y*
- 15.34%
- 5Y*
- —
- 10Y*
- —
SJPA.L
- 1D
- 2.26%
- 1M
- 0.53%
- YTD
- 15.47%
- 6M
- 14.66%
- 1Y
- 32.71%
- 3Y*
- 14.56%
- 5Y*
- 9.85%
- 10Y*
- 10.26%
JRZE.L vs. SJPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) | 7.69% | 29.94% | 3.35% | 17.82% | -10.00% |
SJPA.L iShares Core MSCI Japan IMI UCITS ETF | 15.47% | 18.19% | 8.36% | 12.76% | 3.96% |
Correlation
The correlation between JRZE.L and SJPA.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022 | 0.49 |
The correlation between JRZE.L and SJPA.L shifts across timeframes, from 0.49 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JRZE.L vs. SJPA.L — Risk / Return Rank
JRZE.L
SJPA.L
JRZE.L vs. SJPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) and iShares Core MSCI Japan IMI UCITS ETF (SJPA.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.
| JRZE.L | SJPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.35 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 3.04 | -1.23 |
| Martin ratioReturn relative to average drawdown | 6.42 | 9.86 | -3.44 |
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Drawdowns
JRZE.L vs. SJPA.L - Drawdown Comparison
The maximum JRZE.L drawdown since its inception was -24.05%, smaller than the maximum SJPA.L drawdown of -45.53%. Use the drawdown chart below to compare losses from any high point for JRZE.L and SJPA.L.
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Drawdown Indicators
| JRZE.L | SJPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.05% | -45.53% | +21.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -10.71% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -19.68% | +6.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.73% | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.82% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -5.29% | -15.72% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.31% | -0.19% |
Volatility
JRZE.L vs. SJPA.L - Volatility Comparison
The current volatility for JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) is 3.41%, while iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) has a volatility of 4.41%. This indicates that JRZE.L experiences smaller price fluctuations and is considered to be less risky than SJPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRZE.L | SJPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 4.41% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.84% | 14.72% | -2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.54% | 17.89% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.48% | 20.67% | -3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.48% | 18.47% | -0.99% |
JRZE.L vs. SJPA.L - Expense Ratio Comparison
JRZE.L has a 0.25% expense ratio, which is higher than SJPA.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JRZE.L vs. SJPA.L - Dividend Comparison
Neither JRZE.L nor SJPA.L has paid dividends to shareholders.
Frequently Asked Questions
JRZE.L and SJPA.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SJPA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SJPA.L is cheaper with a 0.15% expense ratio, compared with 0.25% for JRZE.L.
JRZE.L is categorized as Europe Equities, while SJPA.L is Japan Equities. JRZE.L tracks MSCI EMU NR EUR, while SJPA.L tracks TOPIX TR JPY. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRZE.L and 0.15% for SJPA.L.
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