LGAP.L vs. ISJP.L
LGAP.L (L&G Asia Pacific ex Japan Equity UCITS ETF) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - LGAP.L tracks the L&G Asia Pacific ex Japan Equity UCITS ETF while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 5 years, LGAP.L returned 5.54%/yr vs 7.92%/yr for ISJP.L. A 0.57 correlation means they provide meaningful diversification when combined. LGAP.L charges 0.10%/yr vs 0.58%/yr for ISJP.L.
Performance
LGAP.L vs. ISJP.L - Performance Comparison
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Different Trading Currencies
LGAP.L is traded in USD, while ISJP.L is traded in GBp. To make them comparable, the ISJP.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 ISJP.L's 16.53% 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*
- —
ISJP.L
- 1D
- -0.31%
- 1M
- 1.90%
- 6M
- 12.06%
- YTD
- 16.53%
- 1Y
- 31.78%
- 3Y*
- 17.79%
- 5Y*
- 7.92%
- 10Y*
- 8.10%
LGAP.L vs. ISJP.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% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 16.53% | 30.01% | 3.24% | 12.66% | -12.49% | -2.90% | 7.72% | 18.51% | -8.41% |
Correlation
The correlation between LGAP.L and ISJP.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.57 |
The correlation between LGAP.L and ISJP.L has been stable across timeframes, ranging from 0.52 to 0.57 - a consistent structural relationship.
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Return for Risk
LGAP.L vs. ISJP.L — Risk / Return Rank
LGAP.L
ISJP.L
LGAP.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.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 | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.32 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.68 | -0.96 |
| Martin ratioReturn relative to average drawdown | 4.58 | 8.63 | -4.05 |
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Drawdowns
LGAP.L vs. ISJP.L - Drawdown Comparison
The maximum LGAP.L drawdown since its inception was -38.56%, smaller than the maximum ISJP.L drawdown of -69.60%. Use the drawdown chart below to compare losses from any high point for LGAP.L and ISJP.L.
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Drawdown Indicators
| LGAP.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.56% | -69.60% | +31.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.50% | -11.79% | +3.29% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -12.58% | -6.43% |
Max Drawdown (5Y)Largest decline over 5 years | -24.31% | -33.09% | +8.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.04% | — |
Current DrawdownCurrent decline from peak | -2.20% | -1.97% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.75% | -30.31% | +22.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.67% | -0.46% |
Volatility
LGAP.L vs. ISJP.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 Small Cap UCITS ETF (Dist) (ISJP.L) has a volatility of 4.99%. This indicates that LGAP.L experiences smaller price fluctuations and is considered to be less risky than ISJP.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 | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 4.99% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 11.66% | 14.87% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 17.30% | -3.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.46% | 16.30% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 16.51% | +2.75% |
LGAP.L vs. ISJP.L - Expense Ratio Comparison
LGAP.L has a 0.10% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
LGAP.L vs. ISJP.L - Dividend Comparison
LGAP.L has not paid dividends to shareholders, while ISJP.L's dividend yield for the trailing twelve months is around 0.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 0.86% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
LGAP.L L&G Asia Pacific ex Japan Equity UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LGAP.L and ISJP.L have a correlation of 0.54, 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 0.58% for ISJP.L.
LGAP.L tracks L&G Asia Pacific ex Japan Equity UCITS ETF, while ISJP.L tracks MSCI Japan Small Cap NR JPY. They also come from different issuers: L&G and iShares. Their fees differ too: 0.10% for LGAP.L and 0.58% for ISJP.L.
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