PAJS.L vs. IDJP.L
PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) and IDJP.L (iShares MSCI Japan Small Cap UCITS ETF USD (Dist)) are both Japan Equities funds - PAJS.L tracks the TOPIX TR JPY while IDJP.L tracks the MSCI Japan Small Cap Index (Net). Both are passively managed. Over the past 3 years, PAJS.L returned 8.41%/yr vs 14.74%/yr for IDJP.L. A 0.74 correlation means they provide meaningful diversification when combined. PAJS.L charges 0.19%/yr vs 0.58%/yr for IDJP.L.
Performance
PAJS.L vs. IDJP.L - Performance Comparison
Loading charts...
Different Trading Currencies
PAJS.L is traded in GBp, while IDJP.L is traded in USD. To make them comparable, the IDJP.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 10,553.75% return, which is significantly higher than IDJP.L's 12.78% return.
PAJS.L
- 1D
- -0.89%
- 1M
- -4.13%
- 6M
- 2.64%
- YTD
- 10,553.75%
- 1Y
- 11,697.96%
- 3Y*
- 8.41%
- 5Y*
- —
- 10Y*
- —
IDJP.L
- 1D
- -2.22%
- 1M
- -4.14%
- 6M
- 7.39%
- YTD
- 12.78%
- 1Y
- 25.89%
- 3Y*
- 14.74%
- 5Y*
- 7.72%
- 10Y*
- 7.42%
PAJS.L vs. IDJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 10,553.75% | -98.87% | 0.76% | 8.67% | -13.67% | -28.63% |
IDJP.L iShares MSCI Japan Small Cap UCITS ETF USD (Dist) | 12.78% | 20.45% | 5.13% | 7.85% | -2.29% | -2.10% |
Correlation
The correlation between PAJS.L and IDJP.L is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.74 |
The correlation between PAJS.L and IDJP.L shifts across timeframes, from 0.62 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.
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
PAJS.L vs. IDJP.L — Risk / Return Rank
PAJS.L
IDJP.L
PAJS.L vs. IDJP.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 Small Cap UCITS ETF USD (Dist) (IDJP.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.
| PAJS.L | IDJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | +280.85 | ||
| Omega ratioGain probability vs. loss probability | 89.43 | 1.27 | +88.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 2.22 | -2.02 |
| Martin ratioReturn relative to average drawdown | 0.44 | 7.18 | -6.74 |
Loading charts...
Drawdowns
PAJS.L vs. IDJP.L - Drawdown Comparison
The maximum PAJS.L drawdown since its inception was -99.32%, which is greater than IDJP.L's maximum drawdown of -31.52%. Use the drawdown chart below to compare losses from any high point for PAJS.L and IDJP.L.
Loading charts...
Drawdown Indicators
| PAJS.L | IDJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.32% | -31.52% | -67.80% |
Max Drawdown (1Y)Largest decline over 1 year | -99.06% | -11.59% | -87.47% |
Max Drawdown (3Y)Largest decline over 3 years | -99.06% | -11.59% | -87.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.85% | — |
Current DrawdownCurrent decline from peak | -18.60% | -5.69% | -12.91% |
Average DrawdownAverage peak-to-trough decline | -35.69% | -6.72% | -28.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.78% | 3.60% | +45.18% |
Volatility
PAJS.L vs. IDJP.L - Volatility Comparison
Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) has a higher volatility of 7.44% compared to iShares MSCI Japan Small Cap UCITS ETF USD (Dist) (IDJP.L) at 5.53%. This indicates that PAJS.L's price experiences larger fluctuations and is considered to be riskier than IDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PAJS.L | IDJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.44% | 5.53% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 1,130.17% | 15.50% | +1,114.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 27,873.20% | 17.53% | +27,855.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13,113.62% | 15.17% | +13,098.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13,113.62% | 16.47% | +13,097.15% |
PAJS.L vs. IDJP.L - Expense Ratio Comparison
PAJS.L has a 0.19% expense ratio, which is lower than IDJP.L's 0.58% expense ratio.
Dividends
PAJS.L vs. IDJP.L - Dividend Comparison
PAJS.L has not paid dividends to shareholders, while IDJP.L's dividend yield for the trailing twelve months is around 1.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDJP.L iShares MSCI Japan Small Cap UCITS ETF USD (Dist) | 1.00% | 1.77% | 1.77% | 1.77% | 2.08% | 1.55% | 1.48% | 1.47% | 1.45% | 1.21% | 1.20% | 0.72% |
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAJS.L and IDJP.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAJS.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAJS.L is cheaper with a 0.19% expense ratio, compared with 0.58% for IDJP.L.
PAJS.L tracks TOPIX TR JPY, while IDJP.L tracks MSCI Japan Small Cap Index (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for PAJS.L and 0.58% for IDJP.L.
Find the right allocation for PAJS.L and IDJP.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