LCJP.L vs. PAJS.L
LCJP.L (Amundi MSCI Japan UCITS ETF Acc) and PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) are both Japan Equities funds tracking the TOPIX TR JPY, from Amundi and Invesco respectively. Both are passively managed. Over the past 3 years, LCJP.L returned 17.47%/yr vs 9.64%/yr for PAJS.L. Their correlation of 0.90 suggests significant overlap in exposure. LCJP.L charges 0.12%/yr vs 0.19%/yr for PAJS.L.
Performance
LCJP.L vs. PAJS.L - Performance Comparison
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Different Trading Currencies
LCJP.L is traded in GBP, while PAJS.L is traded in GBp. To make them comparable, the PAJS.L 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 18.20% return, which is significantly lower than PAJS.L's 10,993.51% return.
LCJP.L
- 1D
- -0.76%
- 1M
- 3.33%
- YTD
- 18.20%
- 6M
- 18.41%
- 1Y
- 37.39%
- 3Y*
- 17.47%
- 5Y*
- 10.37%
- 10Y*
- —
PAJS.L
- 1D
- 0.88%
- 1M
- 10,285.35%
- YTD
- 10,993.51%
- 6M
- 11,041.64%
- 1Y
- 22.77%
- 3Y*
- 9.64%
- 5Y*
- —
- 10Y*
- —
LCJP.L vs. PAJS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LCJP.L Amundi MSCI Japan UCITS ETF Acc | 18.20% | 17.56% | 8.90% | 14.09% | -7.13% | -1.04% |
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 10,993.51% | -98.87% | 0.76% | 8.67% | -13.67% | -28.62% |
Correlation
The correlation between LCJP.L and PAJS.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.90 |
The correlation between LCJP.L and PAJS.L has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
LCJP.L vs. PAJS.L — Risk / Return Rank
LCJP.L
PAJS.L
LCJP.L vs. PAJS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Japan UCITS ETF Acc (LCJP.L) and Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.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.
| LCJP.L | PAJS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | -280.29 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 90.13 | -88.77 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 0.24 | +3.26 |
| Martin ratioReturn relative to average drawdown | 11.03 | 0.49 | +10.54 |
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Drawdowns
LCJP.L vs. PAJS.L - Drawdown Comparison
The maximum LCJP.L drawdown since its inception was -99.46%, roughly equal to the maximum PAJS.L drawdown of -99.32%. Use the drawdown chart below to compare losses from any high point for LCJP.L and PAJS.L.
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Drawdown Indicators
| LCJP.L | PAJS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.46% | -99.32% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -99.06% | +88.42% |
Max Drawdown (3Y)Largest decline over 3 years | -14.59% | -99.06% | +84.47% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | — | — |
Current DrawdownCurrent decline from peak | -98.70% | -15.24% | -83.46% |
Average DrawdownAverage peak-to-trough decline | -98.44% | -35.94% | -62.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 48.77% | -45.40% |
Volatility
LCJP.L vs. PAJS.L - Volatility Comparison
The current volatility for Amundi MSCI Japan UCITS ETF Acc (LCJP.L) is 6.46%, while Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) has a volatility of 460.66%. This indicates that LCJP.L experiences smaller price fluctuations and is considered to be less risky than PAJS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LCJP.L | PAJS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 460.66% | -454.20% |
Volatility (6M)Calculated over the trailing 6-month period | 16.01% | 1,306.92% | -1,290.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 27,873.16% | -27,853.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 13,198.79% | -13,182.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.33% | 13,198.79% | -13,160.46% |
LCJP.L vs. PAJS.L - Expense Ratio Comparison
LCJP.L has a 0.12% expense ratio, which is lower than PAJS.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LCJP.L vs. PAJS.L - Dividend Comparison
Neither LCJP.L nor PAJS.L has paid dividends to shareholders.
Frequently Asked Questions
LCJP.L and PAJS.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
LCJP.L is cheaper with a 0.12% expense ratio, compared with 0.19% for PAJS.L.
Both ETFs track TOPIX TR JPY. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.12% for LCJP.L and 0.19% for PAJS.L.
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