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MXJP.L vs. IJPE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MXJP.L vs. IJPE.L

Last updated Jun 5, 2026

MXJP.L (Invesco MSCI Japan UCITS ETF) and IJPE.L (iShares MSCI Japan EUR Hedged UCITS ETF Accumulating) are both Japan Equities funds - MXJP.L tracks the TOPIX TR JPY while IJPE.L tracks the MSCI Japan Index. Both are passively managed. Over the past 10 years, MXJP.L returned 9.38%/yr vs 14.03%/yr for IJPE.L. A 0.78 correlation means they provide meaningful diversification when combined. MXJP.L charges 0.19%/yr vs 0.64%/yr for IJPE.L.

Performance

MXJP.L vs. IJPE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Japan UCITS ETF (MXJP.L) and iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MXJP.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, MXJP.L achieves a 16.21% return, which is significantly lower than IJPE.L's 17.53% return. Over the past 10 years, MXJP.L has underperformed IJPE.L with an annualized return of 9.38%, while IJPE.L has yielded a comparatively higher 14.03% annualized return.

MXJP.L

1D
-0.49%
1M
5.18%
YTD
16.21%
6M
16.14%
1Y
32.62%
3Y*
18.54%
5Y*
8.94%
10Y*
9.38%

IJPE.L

1D
-0.29%
1M
5.96%
YTD
17.53%
6M
20.04%
1Y
51.77%
3Y*
29.90%
5Y*
17.81%
10Y*
14.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MXJP.L vs. IJPE.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MXJP.L
Invesco MSCI Japan UCITS ETF		16.21%25.85%7.21%20.47%-17.12%0.75%16.23%18.11%-13.56%24.18%
IJPE.L
iShares MSCI Japan EUR Hedged UCITS ETF Accumulating		17.53%44.44%14.52%37.02%-11.11%3.87%18.57%13.15%-20.81%35.54%

Correlation

The correlation between MXJP.L and IJPE.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

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.83

Correlation (10Y)
Calculated over the trailing 10-year period

0.84

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2011

0.78

The correlation between MXJP.L and IJPE.L shifts across timeframes, from 0.78 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

MXJP.L vs. IJPE.L - Sectors Allocation Comparison

Sectors
MXJP.L
IJPE.L

Industrials

26.0%
26.0%

Technology

19.1%
19.1%

Financial Services

17.5%
17.5%

Consumer Cyclical

12.2%
12.2%

Communication Services

7.9%
7.9%

Healthcare

6.3%
6.3%

Consumer Defensive

3.6%
3.6%

Basic Materials

3.0%
3.0%

Real Estate

2.3%
2.3%

Utilities

1.1%
1.1%

Energy

1.1%
1.1%

Industrials

MXJP.L
26.0%
IJPE.L
26.0%

Technology

MXJP.L
19.1%
IJPE.L
19.1%

Financial Services

MXJP.L
17.5%
IJPE.L
17.5%

Consumer Cyclical

MXJP.L
12.2%
IJPE.L
12.2%

Communication Services

MXJP.L
7.9%
IJPE.L
7.9%

Healthcare

MXJP.L
6.3%
IJPE.L
6.3%

Consumer Defensive

MXJP.L
3.6%
IJPE.L
3.6%

Basic Materials

MXJP.L
3.0%
IJPE.L
3.0%

Real Estate

MXJP.L
2.3%
IJPE.L
2.3%

Utilities

MXJP.L
1.1%
IJPE.L
1.1%

Energy

MXJP.L
1.1%
IJPE.L
1.1%

Compare stocks, funds, or ETFs

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Invesco MSCI Japan UCITS ETF

iShares MSCI Japan EUR Hedged UCITS ETF Accumulating

Often compared with MXJP.L:
MXJP.L vs. LGJG.LMXJP.L vs. VJPA.LMXJP.L vs. IJPN.LMXJP.L vs. SJPA.LMXJP.L vs. LCJP.LMXJP.L vs. DXJP.LMXJP.L vs. DXJA.L
Often compared with IJPE.L:
IJPE.L vs. IJPA.LIJPE.L vs. IJPD.LIJPE.L vs. EUNN.DEIJPE.L vs. HPJS.LIJPE.L vs. PAJS.LIJPE.L vs. JARI.LIJPE.L vs. XDJP.L

Return for Risk

MXJP.L vs. IJPE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MXJP.L
MXJP.L Risk / Return Rank: 4949
Overall Rank
MXJP.L Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
MXJP.L Sortino Ratio Rank: 4848
Sortino Ratio Rank
MXJP.L Omega Ratio Rank: 4848
Omega Ratio Rank
MXJP.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
MXJP.L Martin Ratio Rank: 5050
Martin Ratio Rank
IJPE.L
IJPE.L Risk / Return Rank: 8383
Overall Rank
IJPE.L Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
IJPE.L Sortino Ratio Rank: 8282
Sortino Ratio Rank
IJPE.L Omega Ratio Rank: 8181
Omega Ratio Rank
IJPE.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
IJPE.L Martin Ratio Rank: 8585
Martin Ratio Rank
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.

MXJP.L vs. IJPE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan UCITS ETF (MXJP.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.

MXJP.LIJPE.LDifference
Sharpe ratioReturn per unit of total volatility
1.57
2.48

-0.91

Sortino ratioReturn per unit of downside risk
2.37
3.45

-1.09

Omega ratioGain probability vs. loss probability

1.30

1.46

-0.16

Calmar ratioReturn relative to maximum drawdown

2.56

4.31

-1.75

Martin ratioReturn relative to average drawdown

8.34

14.74

-6.41

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXJP.L vs. IJPE.L - Sharpe Ratio Comparison

The current MXJP.L Sharpe Ratio is 1.57, which is lower than the IJPE.L Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of MXJP.L and IJPE.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.

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Sharpe Ratios by Period

MXJP.LIJPE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.57

2.48

-0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.86

-0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.69

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.47

+0.03

Drawdowns

MXJP.L vs. IJPE.L - Drawdown Comparison

The maximum MXJP.L drawdown since its inception was -32.48%, smaller than the maximum IJPE.L drawdown of -40.48%. Use the drawdown chart below to compare losses from any high point for MXJP.L and IJPE.L.

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Drawdown Indicators

MXJP.LIJPE.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.48%

-40.48%

+8.00%

Max Drawdown (1Y)

Largest decline over 1 year

-12.69%

-11.96%

-0.73%

Max Drawdown (3Y)

Largest decline over 3 years

-13.80%

-20.61%

+6.81%

Max Drawdown (5Y)

Largest decline over 5 years

-32.48%

-27.70%

-4.78%

Max Drawdown (10Y)

Largest decline over 10 years

-32.48%

-40.48%

+8.00%

Current Drawdown

Current decline from peak

-0.49%

-0.29%

-0.20%

Average Drawdown

Average peak-to-trough decline

-7.80%

-11.58%

+3.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.90%

3.50%

+0.40%

Volatility

MXJP.L vs. IJPE.L - Volatility Comparison

Invesco MSCI Japan UCITS ETF (MXJP.L) and iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) have volatilities of 4.61% and 4.55%, 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.

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Volatility by Period

MXJP.LIJPE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

4.55%

+0.06%

Volatility (6M)

Calculated over the trailing 6-month period

16.69%

16.21%

+0.48%

Volatility (1Y)

Calculated over the trailing 1-year period

20.68%

20.79%

-0.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.18%

20.77%

-2.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.26%

20.40%

-3.14%

MXJP.L vs. IJPE.L - Expense Ratio Comparison

MXJP.L has a 0.19% expense ratio, which is lower than IJPE.L's 0.64% expense ratio.

Dividends

MXJP.L vs. IJPE.L - Dividend Comparison

Neither MXJP.L nor IJPE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

MXJP.L and IJPE.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, MXJP.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MXJP.L is cheaper with a 0.19% expense ratio, compared with 0.64% for IJPE.L.

MXJP.L tracks TOPIX TR JPY, while IJPE.L tracks MSCI Japan Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for MXJP.L and 0.64% for IJPE.L.

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