LGJG.L vs. LGJP.L

Last updated Jul 17, 2026

LGJG.L (L&G Japan Equity UCITS ETF) and LGJP.L (L&G Japan Equity UCITS ETF USD (Acc)) are both Japan Equities funds - LGJG.L tracks the TOPIX TR JPY while LGJP.L tracks the Solactive Core Japan Large & Mid Cap USD Index NTR. Both are passively managed. Over the past 5 years, LGJG.L returned 9.99%/yr vs 9.87%/yr for LGJP.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.10% expense ratio.

Performance

LGJG.L vs. LGJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Japan Equity UCITS ETF (LGJG.L) and L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LGJG.L is traded in GBp, while LGJP.L is traded in USD. To make them comparable, the LGJP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with LGJG.L having a 14.58% return and LGJP.L slightly lower at 14.54%.

LGJG.L

• 1D: -0.69%
• 1M: -1.53%
• 6M: 8.23%
• YTD: 14.58%
• 1Y: 33.51%
• 3Y*: 16.71%
• 5Y*: 9.99%
• 10Y*: —

LGJP.L

• 1D: -0.69%
• 1M: -1.85%
• 6M: 7.59%
• YTD: 14.54%
• 1Y: 32.31%
• 3Y*: 16.57%
• 5Y*: 9.87%
• 10Y*: —

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

LGJG.L vs. LGJP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LGJG.L L&G Japan Equity UCITS ETF	14.58%	17.46%	10.01%	13.64%	-6.84%	2.29%	12.68%	14.87%	-27.27%
LGJP.L L&G Japan Equity UCITS ETF USD (Acc)	14.54%	16.72%	10.25%	14.24%	-6.86%	2.01%	13.16%	14.08%	-5.47%

Correlation

The correlation between LGJG.L and LGJP.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
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 9, 2018	0.93

The correlation between LGJG.L and LGJP.L has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

LGJG.L vs. LGJP.L — Risk / Return Rank

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

LGJG.L

LGJG.L Risk / Return Rank: 70
LGJG.L Sharpe Ratio Rank: 70
LGJG.L Sortino Ratio Rank: 67
LGJG.L Omega Ratio Rank: 69
LGJG.L Calmar Ratio Rank: 74
LGJG.L Martin Ratio Rank: 67

LGJP.L

LGJP.L Risk / Return Rank: 59
LGJP.L Sharpe Ratio Rank: 57
LGJP.L Sortino Ratio Rank: 58
LGJP.L Omega Ratio Rank: 58
LGJP.L Calmar Ratio Rank: 62
LGJP.L Martin Ratio Rank: 58

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.

LGJG.L vs. LGJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF (LGJG.L) and L&G Japan Equity UCITS ETF USD (Acc) (LGJP.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.

	LGJG.L	LGJP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.61	+0.18
Sortino ratio: Return per unit of downside risk	2.47	2.27	+0.20
Omega ratio: Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio: Return relative to maximum drawdown	3.02	2.99	+0.03
Martin ratio: Return relative to average drawdown	9.50	9.23	+0.26

LGJG.L vs. LGJP.L - Sharpe Ratio Comparison

The current LGJG.L Sharpe Ratio is 1.79, which is comparable to the LGJP.L Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of LGJG.L and LGJP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LGJG.L vs. LGJP.L - Drawdown Comparison

The maximum LGJG.L drawdown since its inception was -33.21%, which is greater than LGJP.L's maximum drawdown of -23.10%. Use the drawdown chart below to compare losses from any high point for LGJG.L and LGJP.L.

Drawdown Indicators

	LGJG.L	LGJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-33.21%	-23.10%	-10.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-10.76%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-13.79%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-19.89%	-18.15%	-1.74%
Current Drawdown Current decline from peak	-4.98%	-5.28%	+0.30%
Average Drawdown Average peak-to-trough decline	-10.80%	-4.98%	-5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	3.49%	+0.03%

Volatility

LGJG.L vs. LGJP.L - Volatility Comparison

L&G Japan Equity UCITS ETF (LGJG.L) and L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) have volatilities of 6.30% and 6.46%, 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

	LGJG.L	LGJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.30%	6.46%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	15.37%	16.90%	-1.53%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	20.01%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.97%	16.80%	+4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	17.43%	+3.90%

LGJG.L vs. LGJP.L - Expense Ratio Comparison

Both LGJG.L and LGJP.L have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

LGJG.L vs. LGJP.L - Dividend Comparison

Neither LGJG.L nor LGJP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LGJG.L and LGJP.L in my portfolio?

With a correlation of 0.96, LGJG.L and LGJP.L 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, LGJG.L or LGJP.L?

Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGJG.L or LGJP.L?

LGJG.L and LGJP.L have the same expense ratio: 0.10% per year.

What is the main difference between LGJG.L and LGJP.L?

LGJG.L tracks TOPIX TR JPY, while LGJP.L tracks Solactive Core Japan Large & Mid Cap USD Index NTR. They also come from different issuers: Legal & General and L&G.