LCJP.L vs. JPAN

Last updated Jun 5, 2026

LCJP.L (Amundi MSCI Japan UCITS ETF Acc) and JPAN (Matthews Japan Active ETF) are both Japan Equities funds. LCJP.L is passively managed, while JPAN is actively managed. Over the past year, LCJP.L returned 34.33% vs 32.14% for JPAN. A 0.78 correlation means they provide meaningful diversification when combined. LCJP.L charges 0.12%/yr vs 0.79%/yr for JPAN.

Performance

LCJP.L vs. JPAN - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Japan UCITS ETF Acc (LCJP.L) and Matthews Japan Active ETF (JPAN). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LCJP.L is traded in GBP, while JPAN is traded in USD. To make them comparable, the JPAN values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, LCJP.L achieves a 16.47% return, which is significantly lower than JPAN's 18.86% return.

LCJP.L

• 1D: -0.28%
• 1M: 6.27%
• YTD: 16.47%
• 6M: 15.66%
• 1Y: 34.33%
• 3Y*: 15.67%
• 5Y*: 10.26%
• 10Y*: —

JPAN

• 1D: 0.63%
• 1M: 7.54%
• YTD: 18.86%
• 6M: 17.79%
• 1Y: 32.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LCJP.L vs. JPAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LCJP.L Amundi MSCI Japan UCITS ETF Acc	16.47%	17.61%	8.90%	1.06%
JPAN Matthews Japan Active ETF	18.86%	14.20%	20.22%	1.66%

Correlation

The correlation between LCJP.L and JPAN is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023	0.78

The correlation between LCJP.L and JPAN has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

LCJP.L vs. JPAN - Sectors Allocation Comparison

Sectors	LCJP.L	JPAN
Industrials	26.0%	25.5%
Technology	19.1%	21.7%
Financial Services	17.5%	19.2%
Consumer Cyclical	12.1%	12.4%
Communication Services	7.9%	6.8%
Healthcare	6.3%	2.6%
Consumer Defensive	3.6%	3.3%
Basic Materials	3.0%	3.2%
Real Estate	2.3%	2.2%
Utilities	1.1%	-
Energy	1.1%	0.7%

Return for Risk

LCJP.L vs. JPAN — Risk / Return Rank

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

LCJP.L

LCJP.L Risk / Return Rank: 59
LCJP.L Sharpe Ratio Rank: 54
LCJP.L Sortino Ratio Rank: 56
LCJP.L Omega Ratio Rank: 58
LCJP.L Calmar Ratio Rank: 66
LCJP.L Martin Ratio Rank: 58

JPAN

JPAN Risk / Return Rank: 46
JPAN Sharpe Ratio Rank: 46
JPAN Sortino Ratio Rank: 48
JPAN Omega Ratio Rank: 47
JPAN Calmar Ratio Rank: 43
JPAN Martin Ratio Rank: 46

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.

LCJP.L vs. JPAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Japan UCITS ETF Acc (LCJP.L) and Matthews Japan Active ETF (JPAN). 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.

	LCJP.L	JPAN	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.84	+0.01
Sortino ratio: Return per unit of downside risk	2.64	2.57	+0.07
Omega ratio: Gain probability vs. loss probability	1.35	1.34	+0.02
Calmar ratio: Return relative to maximum drawdown	3.21	2.60	+0.61
Martin ratio: Return relative to average drawdown	10.25	8.94	+1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCJP.L vs. JPAN - Sharpe Ratio Comparison

The current LCJP.L Sharpe Ratio is 1.84, which is comparable to the JPAN Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of LCJP.L and JPAN, 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

	LCJP.L	JPAN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	1.84	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.17	-0.66

Drawdowns

LCJP.L vs. JPAN - Drawdown Comparison

The maximum LCJP.L drawdown since its inception was -26.61%, which is greater than JPAN's maximum drawdown of -15.69%. Use the drawdown chart below to compare losses from any high point for LCJP.L and JPAN.

Drawdown Indicators

	LCJP.L	JPAN	Difference
Max Drawdown Largest peak-to-trough decline	-26.61%	-15.69%	-10.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.64%	-12.42%	+1.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.58%	—	—
Current Drawdown Current decline from peak	-0.28%	0.00%	-0.28%
Average Drawdown Average peak-to-trough decline	-5.49%	-2.83%	-2.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	3.60%	-0.26%

Volatility

LCJP.L vs. JPAN - Volatility Comparison

Amundi MSCI Japan UCITS ETF Acc (LCJP.L) and Matthews Japan Active ETF (JPAN) have volatilities of 3.73% 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

	LCJP.L	JPAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.88%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	15.10%	13.91%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	17.60%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.97%	17.69%	-1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	17.69%	-0.87%

LCJP.L vs. JPAN - Expense Ratio Comparison

LCJP.L has a 0.12% expense ratio, which is lower than JPAN's 0.79% expense ratio.

Dividends

LCJP.L vs. JPAN - Dividend Comparison

LCJP.L has not paid dividends to shareholders, while JPAN's dividend yield for the trailing twelve months is around 4.31%.

Position	TTM	2025	2024	2023
JPAN Matthews Japan Active ETF	4.31%	5.10%	1.53%	0.51%
LCJP.L Amundi MSCI Japan UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCJP.L and JPAN in my portfolio?

LCJP.L and JPAN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LCJP.L or JPAN?

On fees, LCJP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCJP.L or JPAN?

LCJP.L is cheaper with a 0.12% expense ratio, compared with 0.79% for JPAN.

What is the main difference between LCJP.L and JPAN?

They also come from different issuers: Amundi and Matthews. Their fees differ too: 0.12% for LCJP.L and 0.79% for JPAN.