SAJP.L vs. TPXG.L
SAJP.L (iShares MSCI Japan Screened UCITS ETF USD (Acc)) and TPXG.L (Amundi Japan Topix UCITS ETF JPY) are both Japan Equities funds - SAJP.L tracks the MSCI Japan Screened Index while TPXG.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 5 years, SAJP.L returned 8.43%/yr vs 8.87%/yr for TPXG.L. Their correlation of 0.90 suggests significant overlap in exposure. SAJP.L charges 0.15%/yr vs 0.20%/yr for TPXG.L.
Performance
SAJP.L vs. TPXG.L - Performance Comparison
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Different Trading Currencies
SAJP.L is traded in USD, while TPXG.L is traded in GBp. To make them comparable, the TPXG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SAJP.L achieves a 13.04% return, which is significantly higher than TPXG.L's 12.27% return.
SAJP.L
- 1D
- -2.60%
- 1M
- -5.84%
- 6M
- 6.85%
- YTD
- 13.04%
- 1Y
- 30.18%
- 3Y*
- 15.72%
- 5Y*
- 8.43%
- 10Y*
- —
TPXG.L
- 1D
- -2.10%
- 1M
- -3.18%
- 6M
- 6.31%
- YTD
- 12.27%
- 1Y
- 29.06%
- 3Y*
- 16.32%
- 5Y*
- 8.87%
- 10Y*
- 8.84%
SAJP.L vs. TPXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SAJP.L iShares MSCI Japan Screened UCITS ETF USD (Acc) | 13.04% | 25.26% | 6.44% | 20.16% | -17.41% | 0.61% | 17.09% | 19.24% | -9.46% |
TPXG.L Amundi Japan Topix UCITS ETF JPY | 12.27% | 27.17% | 6.39% | 19.44% | -15.66% | 0.16% | 14.01% | 19.88% | -11.14% |
Correlation
The correlation between SAJP.L and TPXG.L is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.90 |
The correlation between SAJP.L and TPXG.L has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
SAJP.L vs. TPXG.L — Risk / Return Rank
SAJP.L
TPXG.L
SAJP.L vs. TPXG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Screened UCITS ETF USD (Acc) (SAJP.L) and Amundi Japan Topix UCITS ETF JPY (TPXG.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.
| SAJP.L | TPXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.32 | +0.01 |
| Martin ratioReturn relative to average drawdown | 7.55 | 7.70 | -0.15 |
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Drawdowns
SAJP.L vs. TPXG.L - Drawdown Comparison
The maximum SAJP.L drawdown since its inception was -32.71%, smaller than the maximum TPXG.L drawdown of -68.70%. Use the drawdown chart below to compare losses from any high point for SAJP.L and TPXG.L.
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Drawdown Indicators
| SAJP.L | TPXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.71% | -68.70% | +35.99% |
Max Drawdown (1Y)Largest decline over 1 year | -12.88% | -12.44% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -14.47% | -14.46% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -32.21% | -0.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.14% | — |
Current DrawdownCurrent decline from peak | -7.42% | -4.90% | -2.52% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -27.38% | +19.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.99% | 3.77% | +0.22% |
Volatility
SAJP.L vs. TPXG.L - Volatility Comparison
iShares MSCI Japan Screened UCITS ETF USD (Acc) (SAJP.L) has a higher volatility of 7.48% compared to Amundi Japan Topix UCITS ETF JPY (TPXG.L) at 6.20%. This indicates that SAJP.L's price experiences larger fluctuations and is considered to be riskier than TPXG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAJP.L | TPXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.48% | 6.20% | +1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 18.33% | 16.41% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.97% | 19.83% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.58% | 17.67% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.94% | 29.49% | -10.55% |
SAJP.L vs. TPXG.L - Expense Ratio Comparison
SAJP.L has a 0.15% expense ratio, which is lower than TPXG.L's 0.20% 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
SAJP.L vs. TPXG.L - Dividend Comparison
Neither SAJP.L nor TPXG.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, SAJP.L and TPXG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SAJP.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAJP.L is cheaper with a 0.15% expense ratio, compared with 0.20% for TPXG.L.
SAJP.L tracks MSCI Japan Screened Index, while TPXG.L tracks TOPIX TR JPY. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.15% for SAJP.L and 0.20% for TPXG.L.
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