LGJP.L vs. N4US.L
LGJP.L (L&G Japan Equity UCITS ETF USD (Acc)) and N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) are both Japan Equities funds - LGJP.L tracks the Solactive Core Japan Large & Mid Cap USD Index NTR while N4US.L tracks the JPX-Nikkei 400 USD Hedged Index. Both are passively managed. Over the past 5 years, LGJP.L returned 9.00%/yr vs 21.88%/yr for N4US.L. Their correlation of 0.84 suggests significant overlap in exposure. LGJP.L charges 0.10%/yr vs 0.19%/yr for N4US.L.
Performance
LGJP.L vs. N4US.L - Performance Comparison
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Returns By Period
In the year-to-date period, LGJP.L achieves a 12.44% return, which is significantly lower than N4US.L's 18.80% return.
LGJP.L
- 1D
- -2.11%
- 1M
- -4.31%
- 6M
- 6.50%
- YTD
- 12.44%
- 1Y
- 29.74%
- 3Y*
- 16.40%
- 5Y*
- 9.00%
- 10Y*
- —
N4US.L
- 1D
- -2.01%
- 1M
- -2.75%
- 6M
- 11.38%
- YTD
- 18.80%
- 1Y
- 45.47%
- 3Y*
- 27.49%
- 5Y*
- 21.88%
- 10Y*
- 16.34%
LGJP.L vs. N4US.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LGJP.L L&G Japan Equity UCITS ETF USD (Acc) | 12.44% | 25.67% | 8.35% | 20.25% | -16.76% | 1.05% | 16.58% | 18.59% | -7.06% |
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 18.80% | 30.25% | 23.77% | 35.97% | -1.05% | 11.18% | 10.79% | 19.49% | -10.72% |
Correlation
The correlation between LGJP.L and N4US.L is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.84 |
The correlation between LGJP.L and N4US.L has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
LGJP.L vs. N4US.L — Risk / Return Rank
LGJP.L
N4US.L
LGJP.L vs. N4US.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) and Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.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 | N4US.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.42 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 4.84 | -2.60 |
| Martin ratioReturn relative to average drawdown | 7.24 | 16.48 | -9.24 |
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Drawdowns
LGJP.L vs. N4US.L - Drawdown Comparison
The maximum LGJP.L drawdown since its inception was -32.19%, roughly equal to the maximum N4US.L drawdown of -30.94%. Use the drawdown chart below to compare losses from any high point for LGJP.L and N4US.L.
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Drawdown Indicators
| LGJP.L | N4US.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.19% | -30.94% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -13.20% | -9.35% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -14.30% | -21.38% | +7.08% |
Max Drawdown (5Y)Largest decline over 5 years | -32.19% | -21.38% | -10.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.94% | — |
Current DrawdownCurrent decline from peak | -5.49% | -4.48% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -6.78% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.75% | +1.35% |
Volatility
LGJP.L vs. N4US.L - Volatility Comparison
L&G Japan Equity UCITS ETF USD (Acc) (LGJP.L) has a higher volatility of 6.68% compared to Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) at 6.15%. This indicates that LGJP.L's price experiences larger fluctuations and is considered to be riskier than N4US.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGJP.L | N4US.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 6.15% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 17.75% | 15.63% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.21% | 19.57% | +1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.17% | 18.50% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.31% | 18.38% | -0.07% |
LGJP.L vs. N4US.L - Expense Ratio Comparison
LGJP.L has a 0.10% expense ratio, which is lower than N4US.L's 0.19% 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. N4US.L - Dividend Comparison
Neither LGJP.L nor N4US.L has paid dividends to shareholders.
Frequently Asked Questions
LGJP.L and N4US.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.19% for N4US.L.
LGJP.L tracks Solactive Core Japan Large & Mid Cap USD Index NTR, while N4US.L tracks JPX-Nikkei 400 USD Hedged Index. They also come from different issuers: L&G and Invesco. Their fees differ too: 0.10% for LGJP.L and 0.19% for N4US.L.
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