PAJS.L vs. LDAG.L
PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) and LDAG.L (L&G Quality Equity Dividends ESG Exclusions Asia Pacific ex-Japan UCITS ETF) are both exchange-traded funds - PAJS.L is a Japan Equities fund tracking the TOPIX TR JPY, while LDAG.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Pac Ex JPN NR USD. Both are passively managed. Over the past 3 years, PAJS.L returned 9.52%/yr vs 18.27%/yr for LDAG.L. At a 0.44 correlation, their price movements are largely independent. PAJS.L charges 0.19%/yr vs 0.40%/yr for LDAG.L.
Performance
PAJS.L vs. LDAG.L - Performance Comparison
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Returns By Period
In the year-to-date period, PAJS.L achieves a 10,891.43% return, which is significantly higher than LDAG.L's 15.54% return.
PAJS.L
- 1D
- 0.90%
- 1M
- 0.76%
- 6M
- 5.25%
- YTD
- 10,891.43%
- 1Y
- 23.35%
- 3Y*
- 9.52%
- 5Y*
- —
- 10Y*
- —
LDAG.L
- 1D
- -1.37%
- 1M
- -3.06%
- 6M
- 13.97%
- YTD
- 15.54%
- 1Y
- 22.13%
- 3Y*
- 18.27%
- 5Y*
- 9.90%
- 10Y*
- —
PAJS.L vs. LDAG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 10,891.43% | -98.87% | 0.76% | 8.67% | -13.67% | -28.63% |
LDAG.L L&G Quality Equity Dividends ESG Exclusions Asia Pacific ex-Japan UCITS ETF | 15.54% | 26.42% | 5.50% | 3.28% | 1.73% | 2.31% |
Correlation
The correlation between PAJS.L and LDAG.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021 | 0.44 |
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Return for Risk
PAJS.L vs. LDAG.L — Risk / Return Rank
PAJS.L
LDAG.L
PAJS.L vs. LDAG.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 L&G Quality Equity Dividends ESG Exclusions Asia Pacific ex-Japan UCITS ETF (LDAG.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 | LDAG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | +280.77 | ||
| Omega ratioGain probability vs. loss probability | 89.67 | 1.27 | +88.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 2.30 | -2.06 |
| Martin ratioReturn relative to average drawdown | 0.47 | 5.88 | -5.41 |
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Drawdowns
PAJS.L vs. LDAG.L - Drawdown Comparison
The maximum PAJS.L drawdown since its inception was -99.32%, which is greater than LDAG.L's maximum drawdown of -33.08%. Use the drawdown chart below to compare losses from any high point for PAJS.L and LDAG.L.
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Drawdown Indicators
| PAJS.L | LDAG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.32% | -33.08% | -66.24% |
Max Drawdown (1Y)Largest decline over 1 year | -99.06% | -9.58% | -89.48% |
Max Drawdown (3Y)Largest decline over 3 years | -99.06% | -19.89% | -79.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.89% | — |
Current DrawdownCurrent decline from peak | -16.02% | -3.35% | -12.67% |
Average DrawdownAverage peak-to-trough decline | -35.72% | -19.63% | -16.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.77% | 3.75% | +45.02% |
Volatility
PAJS.L vs. LDAG.L - Volatility Comparison
Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) has a higher volatility of 7.24% compared to L&G Quality Equity Dividends ESG Exclusions Asia Pacific ex-Japan UCITS ETF (LDAG.L) at 3.90%. This indicates that PAJS.L's price experiences larger fluctuations and is considered to be riskier than LDAG.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 | LDAG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.24% | 3.90% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1,130.17% | 11.34% | +1,118.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 27,873.17% | 14.07% | +27,859.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13,124.87% | 19.86% | +13,105.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13,124.87% | 22.59% | +13,102.28% |
PAJS.L vs. LDAG.L - Expense Ratio Comparison
PAJS.L has a 0.19% expense ratio, which is lower than LDAG.L's 0.40% expense ratio.
Dividends
PAJS.L vs. LDAG.L - Dividend Comparison
PAJS.L has not paid dividends to shareholders, while LDAG.L's dividend yield for the trailing twelve months is around 3.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
LDAG.L L&G Quality Equity Dividends ESG Exclusions Asia Pacific ex-Japan UCITS ETF | 3.90% | 4.23% | 4.75% | 5.40% | 4.80% | 2.19% |
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAJS.L and LDAG.L have a correlation of 0.40, 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 0.40% for LDAG.L.
PAJS.L is categorized as Japan Equities, while LDAG.L is Asia Pacific Equities. PAJS.L tracks TOPIX TR JPY, while LDAG.L tracks MSCI AC Asia Pac Ex JPN NR USD. They also come from different issuers: Invesco and Legal & General. Their fees differ too: 0.19% for PAJS.L and 0.40% for LDAG.L.
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