LGAG.L vs. CPXJ.AS

Last updated Jun 5, 2026

LGAG.L (L&G Asia Pacific ex Japan Equity UCITS ETF) and CPXJ.AS (iShares Core MSCI Pacific ex Japan UCITS ETF) are both Asia Pacific Equities funds tracking the MSCI Pacific Ex Japan NR USD, from Legal & General and iShares respectively. Both are passively managed. Over the past 5 years, LGAG.L returned 5.68%/yr vs 6.00%/yr for CPXJ.AS. Their correlation of 0.92 suggests significant overlap in exposure. LGAG.L charges 0.10%/yr vs 0.20%/yr for CPXJ.AS.

Performance

LGAG.L vs. CPXJ.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) and iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LGAG.L is traded in GBp, while CPXJ.AS is traded in EUR. To make them comparable, the CPXJ.AS values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with LGAG.L having a 8.78% return and CPXJ.AS slightly higher at 8.85%.

LGAG.L

• 1D: -0.69%
• 1M: 0.27%
• YTD: 8.78%
• 6M: 9.30%
• 1Y: 17.23%
• 3Y*: 10.29%
• 5Y*: 5.68%
• 10Y*: —

CPXJ.AS

• 1D: -0.87%
• 1M: 0.35%
• YTD: 8.85%
• 6M: 9.47%
• 1Y: 17.33%
• 3Y*: 10.58%
• 5Y*: 6.00%
• 10Y*: 8.54%

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

LGAG.L vs. CPXJ.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LGAG.L L&G Asia Pacific ex Japan Equity UCITS ETF	8.78%	12.56%	6.20%	-0.81%	5.61%	4.15%	4.80%	14.08%	-22.77%
CPXJ.AS iShares Core MSCI Pacific ex Japan UCITS ETF	8.85%	12.40%	6.81%	0.28%	4.59%	6.10%	3.51%	13.41%	-0.26%

Correlation

The correlation between LGAG.L and CPXJ.AS is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018	0.92

The correlation between LGAG.L and CPXJ.AS has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

LGAG.L vs. CPXJ.AS — Risk / Return Rank

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

LGAG.L

LGAG.L Risk / Return Rank: 46
LGAG.L Sharpe Ratio Rank: 45
LGAG.L Sortino Ratio Rank: 47
LGAG.L Omega Ratio Rank: 44
LGAG.L Calmar Ratio Rank: 49
LGAG.L Martin Ratio Rank: 44

CPXJ.AS

CPXJ.AS Risk / Return Rank: 39
CPXJ.AS Sharpe Ratio Rank: 35
CPXJ.AS Sortino Ratio Rank: 36
CPXJ.AS Omega Ratio Rank: 33
CPXJ.AS Calmar Ratio Rank: 46
CPXJ.AS Martin Ratio Rank: 42

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.

LGAG.L vs. CPXJ.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) and iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS). 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.

	LGAG.L	CPXJ.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.54	0.00
Sortino ratio: Return per unit of downside risk	2.30	2.27	+0.03
Omega ratio: Gain probability vs. loss probability	1.28	1.28	0.00
Calmar ratio: Return relative to maximum drawdown	2.37	2.41	-0.04
Martin ratio: Return relative to average drawdown	6.97	7.22	-0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGAG.L vs. CPXJ.AS - Sharpe Ratio Comparison

The current LGAG.L Sharpe Ratio is 1.55, which is comparable to the CPXJ.AS Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of LGAG.L and CPXJ.AS, 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

	LGAG.L	CPXJ.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.54	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.42	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.38	-0.21

Drawdowns

LGAG.L vs. CPXJ.AS - Drawdown Comparison

The maximum LGAG.L drawdown since its inception was -35.16%, which is greater than CPXJ.AS's maximum drawdown of -32.98%. Use the drawdown chart below to compare losses from any high point for LGAG.L and CPXJ.AS.

Drawdown Indicators

	LGAG.L	CPXJ.AS	Difference
Max Drawdown Largest peak-to-trough decline	-35.16%	-32.98%	-2.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-7.11%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-24.83%	-17.70%	-7.13%
Max Drawdown (5Y) Largest decline over 5 years	-24.83%	-17.71%	-7.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.98%	—
Current Drawdown Current decline from peak	-3.09%	-2.94%	-0.15%
Average Drawdown Average peak-to-trough decline	-10.11%	-6.87%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.38%	+0.09%

Volatility

LGAG.L vs. CPXJ.AS - Volatility Comparison

L&G Asia Pacific ex Japan Equity UCITS ETF (LGAG.L) has a higher volatility of 3.98% compared to iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) at 3.34%. This indicates that LGAG.L's price experiences larger fluctuations and is considered to be riskier than CPXJ.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGAG.L	CPXJ.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.34%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	8.77%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.11%	11.11%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	14.10%	+6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	16.23%	+6.04%

LGAG.L vs. CPXJ.AS - Expense Ratio Comparison

LGAG.L has a 0.10% expense ratio, which is lower than CPXJ.AS's 0.20% 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

LGAG.L vs. CPXJ.AS - Dividend Comparison

Neither LGAG.L nor CPXJ.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGAG.L and CPXJ.AS in my portfolio?

With a correlation of 0.92, LGAG.L and CPXJ.AS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, LGAG.L or CPXJ.AS?

On fees, LGAG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGAG.L or CPXJ.AS?

LGAG.L is cheaper with a 0.10% expense ratio, compared with 0.20% for CPXJ.AS.

What is the main difference between LGAG.L and CPXJ.AS?

Both ETFs track MSCI Pacific Ex Japan NR USD. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.10% for LGAG.L and 0.20% for CPXJ.AS.