PRIJ.L vs. PAJS.L

Last updated Jun 5, 2026

PRIJ.L (Amundi Prime Japan UCITS ETF DR (D)) and PAJS.L (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc) are both Japan Equities funds tracking the TOPIX TR JPY, from Amundi and Invesco respectively. Both are passively managed. Over the past 3 years, PRIJ.L returned 13.23%/yr vs 6.52%/yr for PAJS.L. Their correlation of 0.91 suggests significant overlap in exposure. PRIJ.L charges 0.05%/yr vs 0.19%/yr for PAJS.L.

Performance

PRIJ.L vs. PAJS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Prime Japan UCITS ETF DR (D) (PRIJ.L) and Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRIJ.L achieves a 15.18% return, which is significantly higher than PAJS.L's 7.24% return.

PRIJ.L

• 1D: -0.06%
• 1M: 6.51%
• YTD: 15.18%
• 6M: 12.83%
• 1Y: 30.29%
• 3Y*: 13.23%
• 5Y*: 8.08%
• 10Y*: —

PAJS.L

• 1D: -0.95%
• 1M: 3.55%
• YTD: 7.24%
• 6M: 5.00%
• 1Y: 19.35%
• 3Y*: 6.52%
• 5Y*: —
• 10Y*: —

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

PRIJ.L vs. PAJS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PRIJ.L Amundi Prime Japan UCITS ETF DR (D)	15.18%	15.76%	7.02%	11.63%	-8.38%	-3.20%
PAJS.L Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc	7.24%	13.24%	0.76%	8.67%	-14.19%	-3.23%

Correlation

The correlation between PRIJ.L and PAJS.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	0.89
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021	0.91

The correlation between PRIJ.L and PAJS.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

PRIJ.L vs. PAJS.L — Risk / Return Rank

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

PRIJ.L

PRIJ.L Risk / Return Rank: 50
PRIJ.L Sharpe Ratio Rank: 47
PRIJ.L Sortino Ratio Rank: 47
PRIJ.L Omega Ratio Rank: 50
PRIJ.L Calmar Ratio Rank: 56
PRIJ.L Martin Ratio Rank: 51

PAJS.L

PAJS.L Risk / Return Rank: 32
PAJS.L Sharpe Ratio Rank: 30
PAJS.L Sortino Ratio Rank: 32
PAJS.L Omega Ratio Rank: 31
PAJS.L Calmar Ratio Rank: 33
PAJS.L Martin Ratio Rank: 34

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.

PRIJ.L vs. PAJS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Prime Japan UCITS ETF DR (D) (PRIJ.L) and Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.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.

	PRIJ.L	PAJS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.07	+0.55
Sortino ratio: Return per unit of downside risk	2.32	1.66	+0.66
Omega ratio: Gain probability vs. loss probability	1.31	1.20	+0.10
Calmar ratio: Return relative to maximum drawdown	2.74	1.62	+1.13
Martin ratio: Return relative to average drawdown	8.55	5.02	+3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRIJ.L vs. PAJS.L - Sharpe Ratio Comparison

The current PRIJ.L Sharpe Ratio is 1.62, which is higher than the PAJS.L Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of PRIJ.L and PAJS.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

	PRIJ.L	PAJS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.07	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.10	+0.41

Drawdowns

PRIJ.L vs. PAJS.L - Drawdown Comparison

The maximum PRIJ.L drawdown since its inception was -25.61%, smaller than the maximum PAJS.L drawdown of -29.71%. Use the drawdown chart below to compare losses from any high point for PRIJ.L and PAJS.L.

Drawdown Indicators

	PRIJ.L	PAJS.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.61%	-29.71%	+4.10%
Max Drawdown (1Y) Largest decline over 1 year	-10.99%	-11.92%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-14.07%	-29.71%	+15.64%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	—	—
Current Drawdown Current decline from peak	-0.06%	-7.43%	+7.37%
Average Drawdown Average peak-to-trough decline	-6.14%	-16.45%	+10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	3.84%	-0.31%

Volatility

PRIJ.L vs. PAJS.L - Volatility Comparison

Amundi Prime Japan UCITS ETF DR (D) (PRIJ.L) has a higher volatility of 4.95% compared to Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Acc (PAJS.L) at 4.40%. This indicates that PRIJ.L's price experiences larger fluctuations and is considered to be riskier than PAJS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRIJ.L	PAJS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.40%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	14.33%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	18.01%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.75%	22.26%	-6.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.77%	22.26%	-5.49%

PRIJ.L vs. PAJS.L - Expense Ratio Comparison

PRIJ.L has a 0.05% expense ratio, which is lower than PAJS.L's 0.19% 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

PRIJ.L vs. PAJS.L - Dividend Comparison

Neither PRIJ.L nor PAJS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PRIJ.L and PAJS.L in my portfolio?

PRIJ.L and PAJS.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.

Which ETF is better, PRIJ.L or PAJS.L?

On fees, PRIJ.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRIJ.L or PAJS.L?

PRIJ.L is cheaper with a 0.05% expense ratio, compared with 0.19% for PAJS.L.

What is the main difference between PRIJ.L and PAJS.L?

Both ETFs track TOPIX TR JPY. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.05% for PRIJ.L and 0.19% for PAJS.L.