LGJP.L vs. CJPU.L
LGJP.L (L&G Japan Equity UCITS ETF) and CJPU.L (iShares MSCI Japan UCITS ETF USD (Acc)) are both Japan Equities funds - LGJP.L tracks the L&G Japan Equity UCITS ETF while CJPU.L tracks the MSCI Japan Index (Net). Both are passively managed. Over the past 5 years, LGJP.L returned 9.51%/yr vs 9.27%/yr for CJPU.L. With a 0.98 correlation, they move nearly in lockstep. LGJP.L charges 0.10%/yr vs 0.12%/yr for CJPU.L.
Performance
LGJP.L vs. CJPU.L - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with LGJP.L having a 15.08% return and CJPU.L slightly higher at 15.49%.
LGJP.L
- 1D
- -0.68%
- 1M
- -0.39%
- 6M
- 9.30%
- YTD
- 15.08%
- 1Y
- 33.92%
- 3Y*
- 17.92%
- 5Y*
- 9.51%
- 10Y*
- —
CJPU.L
- 1D
- -0.89%
- 1M
- -1.47%
- 6M
- 9.41%
- YTD
- 15.49%
- 1Y
- 35.30%
- 3Y*
- 17.79%
- 5Y*
- 9.27%
- 10Y*
- 9.05%
LGJP.L vs. CJPU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LGJP.L L&G Japan Equity UCITS ETF | 15.08% | 25.67% | 8.35% | 20.25% | -16.76% | 1.05% | 16.58% | 18.59% | -7.06% |
CJPU.L iShares MSCI Japan UCITS ETF USD (Acc) | 15.49% | 26.13% | 7.33% | 20.25% | -17.32% | 0.50% | 16.08% | 17.64% | -7.43% |
Correlation
The correlation between LGJP.L and CJPU.L is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.98 |
The correlation between LGJP.L and CJPU.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LGJP.L vs. CJPU.L — Risk / Return Rank
LGJP.L
CJPU.L
LGJP.L vs. CJPU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF (LGJP.L) and iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.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.
| LGJP.L | CJPU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.76 | -0.23 |
| Martin ratioReturn relative to average drawdown | 8.18 | 9.02 | -0.84 |
Loading charts...
Drawdowns
LGJP.L vs. CJPU.L - Drawdown Comparison
The maximum LGJP.L drawdown since its inception was -32.19%, roughly equal to the maximum CJPU.L drawdown of -32.64%. Use the drawdown chart below to compare losses from any high point for LGJP.L and CJPU.L.
Loading charts...
Drawdown Indicators
| LGJP.L | CJPU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.19% | -32.64% | +0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -13.20% | -12.79% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -14.30% | -14.74% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -32.19% | -32.64% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.64% | — |
Current DrawdownCurrent decline from peak | -3.27% | -4.54% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -5.86% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 3.92% | +0.16% |
Volatility
LGJP.L vs. CJPU.L - Volatility Comparison
The current volatility for L&G Japan Equity UCITS ETF (LGJP.L) is 6.42%, while iShares MSCI Japan UCITS ETF USD (Acc) (CJPU.L) has a volatility of 6.79%. This indicates that LGJP.L experiences smaller price fluctuations and is considered to be less risky than CJPU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LGJP.L | CJPU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 6.79% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 17.61% | 18.10% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.09% | 21.69% | -0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.15% | 18.41% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.30% | 17.10% | +1.20% |
LGJP.L vs. CJPU.L - Expense Ratio Comparison
LGJP.L has a 0.10% expense ratio, which is lower than CJPU.L's 0.12% 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
LGJP.L vs. CJPU.L - Dividend Comparison
Neither LGJP.L nor CJPU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, LGJP.L and CJPU.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.
On fees, LGJP.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGJP.L is cheaper with a 0.10% expense ratio, compared with 0.12% for CJPU.L.
LGJP.L tracks L&G Japan Equity UCITS ETF, while CJPU.L tracks MSCI Japan Index (Net). They also come from different issuers: L&G and iShares. Their fees differ too: 0.10% for LGJP.L and 0.12% for CJPU.L.
Find the right allocation for LGJP.L and CJPU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer