LGAP.L vs. IJPE.L
LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) and IJPE.L (iShares MSCI Japan EUR Hedged UCITS ETF Accumulating) are both Japan Equities funds - LGAP.L tracks the L&G Asia Pacific ex Japan Equity UCITS ETF while IJPE.L tracks the MSCI Japan Index. Both are passively managed. Over the past 5 years, LGAP.L returned 5.54%/yr vs 19.02%/yr for IJPE.L. A 0.65 correlation means they provide meaningful diversification when combined. LGAP.L charges 0.10%/yr vs 0.64%/yr for IJPE.L.
Performance
LGAP.L vs. IJPE.L - Performance Comparison
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Different Trading Currencies
LGAP.L is traded in USD, while IJPE.L is traded in EUR. To make them comparable, the IJPE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, LGAP.L achieves a 9.64% return, which is significantly lower than IJPE.L's 17.95% return.
LGAP.L
- 1D
- -0.40%
- 1M
- 0.61%
- 6M
- 7.65%
- YTD
- 9.64%
- 1Y
- 15.23%
- 3Y*
- 12.38%
- 5Y*
- 5.54%
- 10Y*
- —
IJPE.L
- 1D
- -0.76%
- 1M
- -0.32%
- 6M
- 11.43%
- YTD
- 17.95%
- 1Y
- 47.33%
- 3Y*
- 27.55%
- 5Y*
- 19.02%
- 10Y*
- 14.54%
LGAP.L vs. IJPE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF | 9.64% | 20.97% | 4.67% | 4.82% | -5.65% | 2.87% | 8.44% | 17.78% | -1.30% |
IJPE.L iShares MSCI Japan EUR Hedged UCITS ETF Accumulating | 17.95% | 44.44% | 14.53% | 37.02% | -11.11% | 3.87% | 18.57% | 13.15% | -10.37% |
Correlation
The correlation between LGAP.L and IJPE.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.65 |
The correlation between LGAP.L and IJPE.L has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.
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Return for Risk
LGAP.L vs. IJPE.L — Risk / Return Rank
LGAP.L
IJPE.L
LGAP.L vs. IJPE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) and iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.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.
| LGAP.L | IJPE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.39 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.94 | -2.21 |
| Martin ratioReturn relative to average drawdown | 4.58 | 13.02 | -8.44 |
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Drawdowns
LGAP.L vs. IJPE.L - Drawdown Comparison
The maximum LGAP.L drawdown since its inception was -38.56%, roughly equal to the maximum IJPE.L drawdown of -40.48%. Use the drawdown chart below to compare losses from any high point for LGAP.L and IJPE.L.
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Drawdown Indicators
| LGAP.L | IJPE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.56% | -40.48% | +1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -11.96% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -20.61% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -24.31% | -27.70% | +3.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.48% | — |
Current DrawdownCurrent decline from peak | -2.20% | -3.09% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -11.56% | +3.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.63% | -0.42% |
Volatility
LGAP.L vs. IJPE.L - Volatility Comparison
The current volatility for L&G Asia Pacific ex Japan Equity UCITS ETF (LGAP.L) is 3.45%, while iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) has a volatility of 7.28%. This indicates that LGAP.L experiences smaller price fluctuations and is considered to be less risky than IJPE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGAP.L | IJPE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 7.28% | -3.83% |
Volatility (6M)Calculated over the trailing 6-month period | 11.66% | 17.68% | -6.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 22.06% | -8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 20.94% | -3.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 19.98% | -0.72% |
LGAP.L vs. IJPE.L - Expense Ratio Comparison
LGAP.L has a 0.10% expense ratio, which is lower than IJPE.L's 0.64% expense ratio.
Dividends
LGAP.L vs. IJPE.L - Dividend Comparison
Neither LGAP.L nor IJPE.L has paid dividends to shareholders.
Frequently Asked Questions
LGAP.L and IJPE.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGAP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGAP.L is cheaper with a 0.10% expense ratio, compared with 0.64% for IJPE.L.
LGAP.L tracks L&G Asia Pacific ex Japan Equity UCITS ETF, while IJPE.L tracks MSCI Japan Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.10% for LGAP.L and 0.64% for IJPE.L.
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