PAXG.L vs. PAXJ.L

Last updated Jun 5, 2026

PAXG.L (Lyxor MSCI Pacific Ex Japan UCITS) and PAXJ.L (Lyxor MSCI Pacific Ex Japan UCITS ETF) are both Asia Pacific Equities funds from Amundi tracking the MSCI Pacific Ex Japan NR USD. Both are passively managed. Over the past year, PAXG.L returned 13.70% vs 19.81% for PAXJ.L. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.12% expense ratio.

Performance

PAXG.L vs. PAXJ.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and Lyxor MSCI Pacific Ex Japan UCITS ETF (PAXJ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PAXG.L is traded in GBp, while PAXJ.L is traded in USD. To make them comparable, the PAXJ.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with PAXG.L having a 8.84% return and PAXJ.L slightly higher at 9.14%.

PAXG.L

• 1D: -0.86%
• 1M: 0.45%
• YTD: 8.84%
• 6M: 5.98%
• 1Y: 13.70%
• 3Y*: 6.05%
• 5Y*: 1.86%
• 10Y*: —

PAXJ.L

• 1D: -0.86%
• 1M: 0.41%
• YTD: 9.14%
• 6M: 10.33%
• 1Y: 19.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PAXG.L vs. PAXJ.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS	8.84%	8.63%	1.96%
PAXJ.L Lyxor MSCI Pacific Ex Japan UCITS ETF	9.14%	12.28%	7.08%

Correlation

The correlation between PAXG.L and PAXJ.L is 0.58, 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	0.59
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.40

The correlation between PAXG.L and PAXJ.L shifts across timeframes, from 0.40 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.

PAXG.L vs. PAXJ.L - Sectors Allocation Comparison

Sectors	PAXG.L	PAXJ.L
Financial Services	46.1%	46.1%
Basic Materials	14.6%	14.6%
Industrials	8.5%	8.5%
Real Estate	7.8%	7.8%
Consumer Cyclical	6.0%	6.0%
Healthcare	3.7%	3.7%
Utilities	3.6%	3.6%
Consumer Defensive	3.0%	3.0%
Energy	2.9%	2.9%
Communication Services	2.7%	2.7%
Technology	1.1%	1.1%

Return for Risk

PAXG.L vs. PAXJ.L — Risk / Return Rank

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

PAXG.L

PAXG.L Risk / Return Rank: 34
PAXG.L Sharpe Ratio Rank: 34
PAXG.L Sortino Ratio Rank: 35
PAXG.L Omega Ratio Rank: 34
PAXG.L Calmar Ratio Rank: 38
PAXG.L Martin Ratio Rank: 32

PAXJ.L

PAXJ.L Risk / Return Rank: 65
PAXJ.L Sharpe Ratio Rank: 60
PAXJ.L Sortino Ratio Rank: 66
PAXJ.L Omega Ratio Rank: 58
PAXJ.L Calmar Ratio Rank: 79
PAXJ.L Martin Ratio Rank: 63

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.

PAXG.L vs. PAXJ.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) and Lyxor MSCI Pacific Ex Japan UCITS ETF (PAXJ.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.

	PAXG.L	PAXJ.L	Difference
Sharpe ratio: Return per unit of total volatility	1.22	2.37	-1.16
Sortino ratio: Return per unit of downside risk	1.78	3.44	-1.66
Omega ratio: Gain probability vs. loss probability	1.23	1.42	-0.20
Calmar ratio: Return relative to maximum drawdown	1.83	4.99	-3.16
Martin ratio: Return relative to average drawdown	4.61	12.84	-8.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAXG.L vs. PAXJ.L - Sharpe Ratio Comparison

The current PAXG.L Sharpe Ratio is 1.22, which is lower than the PAXJ.L Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of PAXG.L and PAXJ.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.

Sharpe Ratios by Period

	PAXG.L	PAXJ.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	2.37	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.70	-1.34

Drawdowns

PAXG.L vs. PAXJ.L - Drawdown Comparison

The maximum PAXG.L drawdown since its inception was -31.27%, which is greater than PAXJ.L's maximum drawdown of -17.40%. Use the drawdown chart below to compare losses from any high point for PAXG.L and PAXJ.L.

Drawdown Indicators

	PAXG.L	PAXJ.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.27%	-17.40%	-13.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.45%	-7.11%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-21.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.29%	—	—
Current Drawdown Current decline from peak	-3.15%	-2.85%	-0.30%
Average Drawdown Average peak-to-trough decline	-6.86%	-2.59%	-4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	—	—

Volatility

PAXG.L vs. PAXJ.L - Volatility Comparison

The current volatility for Lyxor MSCI Pacific Ex Japan UCITS (PAXG.L) is 3.60%, while Lyxor MSCI Pacific Ex Japan UCITS ETF (PAXJ.L) has a volatility of 4.28%. This indicates that PAXG.L experiences smaller price fluctuations and is considered to be less risky than PAXJ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAXG.L	PAXJ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	4.28%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	10.08%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	15.02%	-3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	24.15%	-6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.15%	24.15%	-1.00%

PAXG.L vs. PAXJ.L - Expense Ratio Comparison

Both PAXG.L and PAXJ.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PAXG.L vs. PAXJ.L - Dividend Comparison

PAXG.L's dividend yield for the trailing twelve months is around 0.03%, less than PAXJ.L's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PAXG.L Lyxor MSCI Pacific Ex Japan UCITS	0.03%	0.03%	0.06%	0.04%	0.04%	0.04%	0.03%	0.04%	0.04%	0.03%	0.02%
PAXJ.L Lyxor MSCI Pacific Ex Japan UCITS ETF	3.08%	3.34%	5.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAXG.L and PAXJ.L in my portfolio?

PAXG.L and PAXJ.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PAXG.L or PAXJ.L?

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PAXG.L or PAXJ.L?

PAXG.L and PAXJ.L have the same expense ratio: 0.12% per year.

What is the main difference between PAXG.L and PAXJ.L?

Both ETFs track MSCI Pacific Ex Japan NR USD.