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PAXJ.L vs. LGJG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PAXJ.L vs. LGJG.L

Last updated Jul 18, 2026
Documentation

PAXJ.L (Lyxor MSCI Pacific Ex Japan UCITS ETF) and LGJG.L (L&G Japan Equity UCITS ETF) are both exchange-traded funds - PAXJ.L is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while LGJG.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 5 years, PAXJ.L returned 6.04%/yr vs 9.04%/yr for LGJG.L. A 0.62 correlation means they provide meaningful diversification when combined. PAXJ.L charges 0.12%/yr vs 0.10%/yr for LGJG.L.

Performance

PAXJ.L vs. LGJG.L - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, PAXJ.L achieves a 10.76% return, which is significantly lower than LGJG.L's 12.17% return.

PAXJ.L

1D
1.25%
1M
0.76%
6M
8.36%
YTD
10.76%
1Y
15.60%
3Y*
12.67%
5Y*
6.04%
10Y*
7.59%

LGJG.L

1D
-2.25%
1M
-3.62%
6M
6.48%
YTD
12.17%
1Y
29.54%
3Y*
16.48%
5Y*
9.04%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
PAXJ.L
Lyxor MSCI Pacific Ex Japan UCITS ETF		10.76%20.73%4.91%5.72%-5.83%3.99%7.09%17.60%-3.06%
LGJG.L
L&G Japan Equity UCITS ETF		12.17%26.32%8.18%19.64%-16.80%1.36%16.14%19.48%-28.58%

Correlation

The correlation between PAXJ.L and LGJG.L is 0.63, 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

0.63

Correlation (3Y)
Calculated over the trailing 3-year period

0.57

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2018

0.62

The correlation between PAXJ.L and LGJG.L has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

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

Sectors
PAXJ.L
LGJG.L

Financial Services

45.0%
18.0%

Basic Materials

16.3%
3.6%

Industrials

8.5%
22.5%

Real Estate

7.8%
2.7%

Consumer Cyclical

6.3%
12.2%

Utilities

3.5%
1.0%

Healthcare

3.3%
5.5%

Consumer Defensive

3.0%
3.9%

Energy

2.7%
0.6%

Communication Services

2.6%
8.3%

Technology

1.0%
21.7%

Financial Services

PAXJ.L
45.0%
LGJG.L
18.0%

Basic Materials

PAXJ.L
16.3%
LGJG.L
3.6%

Industrials

PAXJ.L
8.5%
LGJG.L
22.5%

Real Estate

PAXJ.L
7.8%
LGJG.L
2.7%

Consumer Cyclical

PAXJ.L
6.3%
LGJG.L
12.2%

Utilities

PAXJ.L
3.5%
LGJG.L
1.0%

Healthcare

PAXJ.L
3.3%
LGJG.L
5.5%

Consumer Defensive

PAXJ.L
3.0%
LGJG.L
3.9%

Energy

PAXJ.L
2.7%
LGJG.L
0.6%

Communication Services

PAXJ.L
2.6%
LGJG.L
8.3%

Technology

PAXJ.L
1.0%
LGJG.L
21.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Lyxor MSCI Pacific Ex Japan UCITS ETF

L&G Japan Equity UCITS ETF

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Often compared with LGJG.L:
LGJG.L vs. LCJP.LLGJG.L vs. VJPB.LLGJG.L vs. SPPY.DELGJG.L vs. MXJP.LLGJG.L vs. VJPA.LLGJG.L vs. IGLT.LLGJG.L vs. VJPN.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PAXJ.L
PAXJ.L Risk / Return Rank: 4141
Overall Rank
PAXJ.L Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PAXJ.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
PAXJ.L Omega Ratio Rank: 3838
Omega Ratio Rank
PAXJ.L Calmar Ratio Rank: 4646
Calmar Ratio Rank
PAXJ.L Martin Ratio Rank: 4141
Martin Ratio Rank
LGJG.L
LGJG.L Risk / Return Rank: 6262
Overall Rank
LGJG.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
LGJG.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
LGJG.L Omega Ratio Rank: 6060
Omega Ratio Rank
LGJG.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
LGJG.L Martin Ratio Rank: 6161
Martin Ratio Rank
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.

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

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

PAXJ.LLGJG.LDifference
Sharpe ratioReturn per unit of total volatility
1.11
1.44

-0.33

Sortino ratioReturn per unit of downside risk
1.74
2.08

-0.34

Omega ratioGain probability vs. loss probability

1.20

1.27

-0.07

Calmar ratioReturn relative to maximum drawdown

1.82

2.23

-0.41

Martin ratioReturn relative to average drawdown

5.00

7.37

-2.36

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

The current PAXJ.L Sharpe Ratio is 1.11, which is comparable to the LGJG.L Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of PAXJ.L and LGJG.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.

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Drawdowns

PAXJ.L vs. LGJG.L - Drawdown Comparison

The maximum PAXJ.L drawdown since its inception was -38.87%, which is greater than LGJG.L's maximum drawdown of -36.86%. Use the drawdown chart below to compare losses from any high point for PAXJ.L and LGJG.L.

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Drawdown Indicators

PAXJ.LLGJG.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.87%

-36.86%

-2.01%

Max Drawdown (1Y)

Largest decline over 1 year

-8.61%

-13.22%

+4.61%

Max Drawdown (3Y)

Largest decline over 3 years

-18.87%

-18.70%

-0.17%

Max Drawdown (5Y)

Largest decline over 5 years

-24.06%

-32.41%

+8.35%

Max Drawdown (10Y)

Largest decline over 10 years

-38.87%

—

—

Current Drawdown

Current decline from peak

-1.47%

-5.52%

+4.05%

Average Drawdown

Average peak-to-trough decline

-8.06%

-12.62%

+4.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

4.00%

-0.87%

Volatility

PAXJ.L vs. LGJG.L - Volatility Comparison

The current volatility for Lyxor MSCI Pacific Ex Japan UCITS ETF (PAXJ.L) is 3.36%, while L&G Japan Equity UCITS ETF (LGJG.L) has a volatility of 6.62%. This indicates that PAXJ.L experiences smaller price fluctuations and is considered to be less risky than LGJG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PAXJ.LLGJG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.36%

6.62%

-3.26%

Volatility (6M)

Calculated over the trailing 6-month period

11.50%

16.79%

-5.29%

Volatility (1Y)

Calculated over the trailing 1-year period

14.08%

20.46%

-6.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.28%

22.59%

-5.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

22.82%

-5.36%

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

PAXJ.L has a 0.12% expense ratio, which is higher than LGJG.L's 0.10% 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%.

Dividends

PAXJ.L vs. LGJG.L - Dividend Comparison

PAXJ.L's dividend yield for the trailing twelve months is around 3.02%, while LGJG.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
LGJG.L
L&G Japan Equity UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
PAXJ.L
Lyxor MSCI Pacific Ex Japan UCITS ETF		3.02%3.34%5.71%3.97%4.42%3.75%2.69%3.95%4.36%3.33%3.43%2.22%

Frequently Asked Questions

PAXJ.L and LGJG.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, LGJG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

LGJG.L is cheaper with a 0.10% expense ratio, compared with 0.12% for PAXJ.L.

PAXJ.L is categorized as Asia Pacific Equities, while LGJG.L is Japan Equities. PAXJ.L tracks MSCI Pacific Ex Japan NR USD, while LGJG.L tracks TOPIX TR JPY. They also come from different issuers: Amundi and Legal & General. Their fees differ too: 0.12% for PAXJ.L and 0.10% for LGJG.L.

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