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SJPA.L vs. BBJP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SJPA.L vs. BBJP

Last updated Jun 5, 2026

SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) and BBJP (JPMorgan BetaBuilders Japan ETF) are both Japan Equities funds - SJPA.L tracks the TOPIX TR JPY while BBJP tracks the Morningstar Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, SJPA.L returned 10.02%/yr vs 10.17%/yr for BBJP. A 0.80 correlation means they provide meaningful diversification when combined. SJPA.L charges 0.15%/yr vs 0.19%/yr for BBJP.

Performance

SJPA.L vs. BBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) and JPMorgan BetaBuilders Japan ETF (BBJP). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SJPA.L having a 16.31% return and BBJP slightly lower at 16.19%.

SJPA.L

1D
-0.10%
1M
6.32%
YTD
16.31%
6M
15.92%
1Y
33.90%
3Y*
15.64%
5Y*
10.02%
10Y*
10.10%

BBJP

1D
0.30%
1M
6.12%
YTD
16.19%
6M
15.50%
1Y
33.77%
3Y*
15.70%
5Y*
10.17%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJPA.L vs. BBJP - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SJPA.L
iShares Core MSCI Japan IMI UCITS ETF		16.31%18.19%8.36%12.76%-6.21%1.62%11.03%14.68%-10.70%
BBJP
JPMorgan BetaBuilders Japan ETF		16.19%17.53%9.34%14.62%-7.40%2.17%12.03%14.33%-10.61%

Correlation

The correlation between SJPA.L and BBJP is 0.85, 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

0.85

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

0.81

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

0.79

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2018

0.80

The correlation between SJPA.L and BBJP has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

SJPA.L vs. BBJP - Sectors Allocation Comparison

Sectors
SJPA.L
BBJP

Industrials

25.7%
26.7%

Technology

18.6%
17.8%

Financial Services

16.4%
17.1%

Consumer Cyclical

12.4%
12.6%

Communication Services

7.5%
7.7%

Healthcare

5.6%
6.1%

Basic Materials

4.5%
3.2%

Consumer Defensive

4.2%
3.7%

Real Estate

3.1%
2.7%

Utilities

1.2%
1.3%

Energy

0.9%
1.0%

Industrials

SJPA.L
25.7%
BBJP
26.7%

Technology

SJPA.L
18.6%
BBJP
17.8%

Financial Services

SJPA.L
16.4%
BBJP
17.1%

Consumer Cyclical

SJPA.L
12.4%
BBJP
12.6%

Communication Services

SJPA.L
7.5%
BBJP
7.7%

Healthcare

SJPA.L
5.6%
BBJP
6.1%

Basic Materials

SJPA.L
4.5%
BBJP
3.2%

Consumer Defensive

SJPA.L
4.2%
BBJP
3.7%

Real Estate

SJPA.L
3.1%
BBJP
2.7%

Utilities

SJPA.L
1.2%
BBJP
1.3%

Energy

SJPA.L
0.9%
BBJP
1.0%

Compare stocks, funds, or ETFs

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iShares Core MSCI Japan IMI UCITS ETF

JPMorgan BetaBuilders Japan ETF

Often compared with SJPA.L:
SJPA.L vs. LCJP.LSJPA.L vs. CSJP.LSJPA.L vs. XAUUSD=XSJPA.L vs. CNKY.LSJPA.L vs. PRIJ.LSJPA.L vs. N1ES.DESJPA.L vs. PADV.L
Often compared with BBJP:
BBJP vs. EWJBBJP vs. DXJBBJP vs. FLJPBBJP vs. EWJVBBJP vs. DBJPBBJP vs. VOOBBJP vs. BBAX

Return for Risk

SJPA.L vs. BBJP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SJPA.L
SJPA.L Risk / Return Rank: 6060
Overall Rank
SJPA.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
SJPA.L Sortino Ratio Rank: 5959
Sortino Ratio Rank
SJPA.L Omega Ratio Rank: 6262
Omega Ratio Rank
SJPA.L Calmar Ratio Rank: 6464
Calmar Ratio Rank
SJPA.L Martin Ratio Rank: 5959
Martin Ratio Rank
BBJP
BBJP Risk / Return Rank: 5050
Overall Rank
BBJP Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
BBJP Sortino Ratio Rank: 5151
Sortino Ratio Rank
BBJP Omega Ratio Rank: 5252
Omega Ratio Rank
BBJP Calmar Ratio Rank: 4949
Calmar Ratio Rank
BBJP Martin Ratio Rank: 4949
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.

SJPA.L vs. BBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) and JPMorgan BetaBuilders Japan ETF (BBJP). 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.

SJPA.LBBJPDifference
Sharpe ratioReturn per unit of total volatility
1.92
1.95

-0.03

Sortino ratioReturn per unit of downside risk
2.74
2.70

+0.04

Omega ratioGain probability vs. loss probability

1.37

1.36

+0.01

Calmar ratioReturn relative to maximum drawdown

3.15

2.89

+0.26

Martin ratioReturn relative to average drawdown

10.28

10.08

+0.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SJPA.L vs. BBJP - Sharpe Ratio Comparison

The current SJPA.L Sharpe Ratio is 1.92, which is comparable to the BBJP Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of SJPA.L and BBJP, 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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Sharpe Ratios by Period

SJPA.LBBJPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

1.95

-0.03

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.63

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.47

+0.10

Drawdowns

SJPA.L vs. BBJP - Drawdown Comparison

The maximum SJPA.L drawdown since its inception was -24.73%, roughly equal to the maximum BBJP drawdown of -24.47%. Use the drawdown chart below to compare losses from any high point for SJPA.L and BBJP.

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Drawdown Indicators

SJPA.LBBJPDifference

Max Drawdown

Largest peak-to-trough decline

-24.73%

-24.47%

-0.26%

Max Drawdown (1Y)

Largest decline over 1 year

-10.71%

-11.75%

+1.04%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-14.19%

+0.74%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-18.34%

-0.59%

Max Drawdown (10Y)

Largest decline over 10 years

-24.73%

—

—

Current Drawdown

Current decline from peak

-0.10%

0.00%

-0.10%

Average Drawdown

Average peak-to-trough decline

-6.68%

-5.60%

-1.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.29%

3.36%

-0.07%

Volatility

SJPA.L vs. BBJP - Volatility Comparison

iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) has a higher volatility of 3.82% compared to JPMorgan BetaBuilders Japan ETF (BBJP) at 3.39%. This indicates that SJPA.L's price experiences larger fluctuations and is considered to be riskier than BBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SJPA.LBBJPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

3.39%

+0.43%

Volatility (6M)

Calculated over the trailing 6-month period

14.40%

13.25%

+1.15%

Volatility (1Y)

Calculated over the trailing 1-year period

17.60%

17.44%

+0.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.35%

16.14%

-0.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.69%

17.17%

-1.48%

SJPA.L vs. BBJP - Expense Ratio Comparison

SJPA.L has a 0.15% expense ratio, which is lower than BBJP'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

SJPA.L vs. BBJP - Dividend Comparison

SJPA.L has not paid dividends to shareholders, while BBJP's dividend yield for the trailing twelve months is around 4.64%.

PositionTTM20252024202320222021202020192018
BBJP
JPMorgan BetaBuilders Japan ETF		4.64%5.37%2.80%3.05%1.52%2.89%1.12%2.31%0.65%
SJPA.L
iShares Core MSCI Japan IMI UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SJPA.L and BBJP have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SJPA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SJPA.L is cheaper with a 0.15% expense ratio, compared with 0.19% for BBJP.

SJPA.L tracks TOPIX TR JPY, while BBJP tracks Morningstar Japan Target Market Exposure Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.15% for SJPA.L and 0.19% for BBJP.

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