PAJS.L vs. JPSR.L
PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) and JPSR.L (UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis) are both Japan Equities funds tracking the TOPIX TR JPY, from Invesco and UBS respectively. Both are passively managed. Over the past 3 years, PAJS.L returned 6.52%/yr vs 12.10%/yr for JPSR.L. Their correlation of 0.91 suggests significant overlap in exposure. PAJS.L charges 0.19%/yr vs 0.22%/yr for JPSR.L.
Performance
PAJS.L vs. JPSR.L - Performance Comparison
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Returns By Period
In the year-to-date period, PAJS.L achieves a 7.24% return, which is significantly lower than JPSR.L's 11.27% return.
PAJS.L
- 1D
- -0.95%
- 1M
- 1.09%
- YTD
- 7.24%
- 6M
- 5.38%
- 1Y
- 20.25%
- 3Y*
- 6.52%
- 5Y*
- —
- 10Y*
- —
JPSR.L
- 1D
- -0.22%
- 1M
- 5.42%
- YTD
- 11.27%
- 6M
- 11.63%
- 1Y
- 29.08%
- 3Y*
- 12.10%
- 5Y*
- 7.46%
- 10Y*
- 8.71%
PAJS.L vs. JPSR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 7.24% | 13.24% | 0.76% | 8.67% | -14.19% | -3.23% |
JPSR.L UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis | 11.27% | 18.27% | 8.64% | 7.70% | -9.85% | -3.67% |
Correlation
The correlation between PAJS.L and JPSR.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.91 |
The correlation between PAJS.L and JPSR.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
PAJS.L vs. JPSR.L — Risk / Return Rank
PAJS.L
JPSR.L
PAJS.L vs. JPSR.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 UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis (JPSR.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 | JPSR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 2.61 | -0.99 |
| Martin ratioReturn relative to average drawdown | 5.02 | 8.53 | -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. | |||
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Sharpe Ratios by Period
| PAJS.L | JPSR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.58 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.48 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.63 | -0.53 |
Drawdowns
PAJS.L vs. JPSR.L - Drawdown Comparison
The maximum PAJS.L drawdown since its inception was -29.71%, which is greater than JPSR.L's maximum drawdown of -23.05%. Use the drawdown chart below to compare losses from any high point for PAJS.L and JPSR.L.
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Drawdown Indicators
| PAJS.L | JPSR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.71% | -23.05% | -6.66% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -10.84% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -29.71% | -13.83% | -15.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.57% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.05% | — |
Current DrawdownCurrent decline from peak | -7.43% | -0.22% | -7.21% |
Average DrawdownAverage peak-to-trough decline | -16.45% | -6.89% | -9.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.84% | 3.31% | +0.53% |
Volatility
PAJS.L vs. JPSR.L - Volatility Comparison
Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) has a higher volatility of 4.40% compared to UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis (JPSR.L) at 3.74%. This indicates that PAJS.L's price experiences larger fluctuations and is considered to be riskier than JPSR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAJS.L | JPSR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 3.74% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 14.41% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 17.92% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.26% | 15.72% | +6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.26% | 17.70% | +4.56% |
PAJS.L vs. JPSR.L - Expense Ratio Comparison
PAJS.L has a 0.19% expense ratio, which is lower than JPSR.L's 0.22% 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
PAJS.L vs. JPSR.L - Dividend Comparison
PAJS.L has not paid dividends to shareholders, while JPSR.L's dividend yield for the trailing twelve months is around 1.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
JPSR.L UBS ETF (LU) MSCI Japan Socially Responsible UCITS ETF (JPY) A-dis | 1.03% | 1.74% | 1.67% | 1.60% | 1.71% | 1.36% | 1.36% | 1.51% | 1.58% | 1.42% | 1.16% |
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% |
Frequently Asked Questions
PAJS.L and JPSR.L have a correlation of 0.87, 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 0.22% for JPSR.L.
Both ETFs track TOPIX TR JPY. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.19% for PAJS.L and 0.22% for JPSR.L.
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