PAJS.L vs. EEJG.L

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) and iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist) (EEJG.L).

PAJS.L and EEJG.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PAJS.L is a passively managed fund by Invesco that tracks the performance of the TOPIX TR JPY. It was launched on Dec 6, 2021. EEJG.L is a passively managed fund by iShares that tracks the performance of the TOPIX TR JPY. It was launched on Mar 8, 2019. Both PAJS.L and EEJG.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PAJS.L vs. EEJG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) and iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist) (EEJG.L). The values are adjusted to include any dividend payments, if applicable.

PAJS.L vs. EEJG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc	-1.68%	13.24%	0.76%	8.67%	-14.19%	-3.23%
EEJG.L iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist)	3.55%	17.60%	6.43%	13.48%	-8.04%	-3.26%

Different Trading Currencies

PAJS.L is traded in GBp, while EEJG.L is traded in GBP. To make them comparable, the EEJG.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PAJS.L achieves a -1.68% return, which is significantly lower than EEJG.L's 3.55% return.

PAJS.L

• 1D: 0.66%
• 1M: -10.30%
• YTD: -1.68%
• 6M: 0.34%
• 1Y: 12.26%
• 3Y*: 5.40%
• 5Y*: —
• 10Y*: —

EEJG.L

• 1D: 0.24%
• 1M: -9.96%
• YTD: 3.55%
• 6M: 8.80%
• 1Y: 20.96%
• 3Y*: 12.12%
• 5Y*: 6.58%
• 10Y*: —

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

PAJS.L vs. EEJG.L - Expense Ratio Comparison

PAJS.L has a 0.19% expense ratio, which is higher than EEJG.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

PAJS.L

Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc

EEJG.L

iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist)

Return for Risk

PAJS.L vs. EEJG.L — Risk / Return Rank

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

PAJS.L

PAJS.L Risk / Return Rank: 36
PAJS.L Sharpe Ratio Rank: 35
PAJS.L Sortino Ratio Rank: 37
PAJS.L Omega Ratio Rank: 32
PAJS.L Calmar Ratio Rank: 38
PAJS.L Martin Ratio Rank: 38

EEJG.L

EEJG.L Risk / Return Rank: 65
EEJG.L Sharpe Ratio Rank: 62
EEJG.L Sortino Ratio Rank: 61
EEJG.L Omega Ratio Rank: 57
EEJG.L Calmar Ratio Rank: 76
EEJG.L Martin Ratio Rank: 68

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.

PAJS.L vs. EEJG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) and iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist) (EEJG.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.

	PAJS.L	EEJG.L	Difference
Sharpe ratio Return per unit of total volatility	0.68	1.09	-0.42
Sortino ratio Return per unit of downside risk	1.08	1.59	-0.51
Omega ratio Gain probability vs. loss probability	1.13	1.22	-0.08
Calmar ratio Return relative to maximum drawdown	1.01	2.01	-1.00
Martin ratio Return relative to average drawdown	3.55	7.05	-3.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAJS.L vs. EEJG.L - Sharpe Ratio Comparison

The current PAJS.L Sharpe Ratio is 0.68, which is lower than the EEJG.L Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of PAJS.L and EEJG.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PAJS.L	EEJG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	1.09	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.01	0.56	-0.55

Correlation

The correlation between PAJS.L and EEJG.L is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PAJS.L vs. EEJG.L - Dividend Comparison

PAJS.L has not paid dividends to shareholders, while EEJG.L's dividend yield for the trailing twelve months is around 1.52%.

	TTM	2025	2024	2023	2022	2021	2020
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EEJG.L iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist)	1.52%	1.57%	1.81%	1.74%	2.10%	1.69%	1.64%

Drawdowns

PAJS.L vs. EEJG.L - Drawdown Comparison

The maximum PAJS.L drawdown since its inception was -29.71%, which is greater than EEJG.L's maximum drawdown of -19.37%. Use the drawdown chart below to compare losses from any high point for PAJS.L and EEJG.L.

Drawdown Indicators

	PAJS.L	EEJG.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.71%	-19.37%	-10.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-11.39%	-0.53%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.37%	—
Current Drawdown Current decline from peak	-15.12%	-9.96%	-5.16%
Average Drawdown Average peak-to-trough decline	-16.72%	-5.85%	-10.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	3.25%	+0.15%

Volatility

PAJS.L vs. EEJG.L - Volatility Comparison

The current volatility for Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) is 8.33%, while iShares MSCI Japan ESG Enhanced UCITS ETF USD (Dist) (EEJG.L) has a volatility of 9.48%. This indicates that PAJS.L experiences smaller price fluctuations and is considered to be less risky than EEJG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAJS.L	EEJG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	9.48%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	13.58%	14.35%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.06%	19.07%	-1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.31%	15.66%	+6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.31%	15.78%	+6.53%