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

SJPA.L vs. FLJP

Last updated Jun 5, 2026

SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) and FLJP (Franklin FTSE Japan ETF) are both Japan Equities funds - SJPA.L tracks the TOPIX TR JPY while FLJP tracks the FTSE Japan RIC Capped Index. Both are passively managed. Over the past 5 years, SJPA.L returned 10.02%/yr vs 10.28%/yr for FLJP. A 0.79 correlation means they provide meaningful diversification when combined. SJPA.L charges 0.15%/yr vs 0.09%/yr for FLJP.

Performance

SJPA.L vs. FLJP - 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 Franklin FTSE Japan ETF (FLJP). 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 FLJP is traded in USD. To make them comparable, the FLJP 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 SJPA.L having a 16.31% return and FLJP slightly higher at 17.05%.

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%

FLJP

1D
0.30%
1M
6.37%
YTD
17.05%
6M
16.07%
1Y
34.43%
3Y*
15.94%
5Y*
10.28%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJPA.L vs. FLJP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%-9.15%0.08%
FLJP
Franklin FTSE Japan ETF		17.05%17.76%8.86%14.00%-6.65%1.95%12.36%14.46%-8.91%-0.35%

Correlation

The correlation between SJPA.L and FLJP is 0.86, 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

0.86

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 Nov 7, 2017

0.79

The correlation between SJPA.L and FLJP has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

SJPA.L vs. FLJP - Sectors Allocation Comparison

Sectors
SJPA.L
FLJP

Industrials

25.7%
25.4%

Technology

18.6%
19.7%

Financial Services

16.4%
16.0%

Consumer Cyclical

12.4%
12.2%

Communication Services

7.5%
6.3%

Healthcare

5.6%
5.8%

Basic Materials

4.5%
4.9%

Consumer Defensive

4.2%
3.9%

Real Estate

3.1%
2.9%

Utilities

1.2%
1.2%

Energy

0.9%
0.9%

Industrials

SJPA.L
25.7%
FLJP
25.4%

Technology

SJPA.L
18.6%
FLJP
19.7%

Financial Services

SJPA.L
16.4%
FLJP
16.0%

Consumer Cyclical

SJPA.L
12.4%
FLJP
12.2%

Communication Services

SJPA.L
7.5%
FLJP
6.3%

Healthcare

SJPA.L
5.6%
FLJP
5.8%

Basic Materials

SJPA.L
4.5%
FLJP
4.9%

Consumer Defensive

SJPA.L
4.2%
FLJP
3.9%

Real Estate

SJPA.L
3.1%
FLJP
2.9%

Utilities

SJPA.L
1.2%
FLJP
1.2%

Energy

SJPA.L
0.9%
FLJP
0.9%

Compare stocks, funds, or ETFs

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iShares Core MSCI Japan IMI UCITS ETF

Franklin FTSE 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 FLJP:
FLJP vs. EWJFLJP vs. FLJHFLJP vs. EWJVFLJP vs. DXJFLJP vs. BBJPFLJP vs. JPXNFLJP vs. FLKR

Return for Risk

SJPA.L vs. FLJP — 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
FLJP
FLJP Risk / Return Rank: 5353
Overall Rank
FLJP Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
FLJP Sortino Ratio Rank: 5353
Sortino Ratio Rank
FLJP Omega Ratio Rank: 5454
Omega Ratio Rank
FLJP Calmar Ratio Rank: 5252
Calmar Ratio Rank
FLJP Martin Ratio Rank: 5252
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. FLJP - 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 Franklin FTSE Japan ETF (FLJP). 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.LFLJPDifference
Sharpe ratioReturn per unit of total volatility
1.92
2.05

-0.13

Sortino ratioReturn per unit of downside risk
2.74
2.80

-0.06

Omega ratioGain probability vs. loss probability

1.37

1.38

-0.01

Calmar ratioReturn relative to maximum drawdown

3.15

3.02

+0.13

Martin ratioReturn relative to average drawdown

10.28

11.00

-0.72

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. FLJP - Sharpe Ratio Comparison

The current SJPA.L Sharpe Ratio is 1.92, which is comparable to the FLJP Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SJPA.L and FLJP, 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.LFLJPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

2.05

-0.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.65

0.00

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

0.46

+0.11

Drawdowns

SJPA.L vs. FLJP - Drawdown Comparison

The maximum SJPA.L drawdown since its inception was -24.73%, roughly equal to the maximum FLJP drawdown of -24.88%. Use the drawdown chart below to compare losses from any high point for SJPA.L and FLJP.

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Drawdown Indicators

SJPA.LFLJPDifference

Max Drawdown

Largest peak-to-trough decline

-24.73%

-24.88%

+0.15%

Max Drawdown (1Y)

Largest decline over 1 year

-10.71%

-11.45%

+0.74%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-13.59%

+0.14%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-18.35%

-0.58%

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%

-5.55%

-1.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.29%

3.14%

+0.15%

Volatility

SJPA.L vs. FLJP - Volatility Comparison

iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) has a higher volatility of 3.82% compared to Franklin FTSE Japan ETF (FLJP) at 3.25%. This indicates that SJPA.L's price experiences larger fluctuations and is considered to be riskier than FLJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SJPA.LFLJPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

3.25%

+0.57%

Volatility (6M)

Calculated over the trailing 6-month period

14.40%

13.02%

+1.38%

Volatility (1Y)

Calculated over the trailing 1-year period

17.60%

16.92%

+0.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.35%

15.79%

-0.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.69%

16.83%

-1.14%

SJPA.L vs. FLJP - Expense Ratio Comparison

SJPA.L has a 0.15% expense ratio, which is higher than FLJP's 0.09% 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

SJPA.L vs. FLJP - Dividend Comparison

SJPA.L has not paid dividends to shareholders, while FLJP's dividend yield for the trailing twelve months is around 4.42%.

PositionTTM202520242023202220212020201920182017
FLJP
Franklin FTSE Japan ETF		4.42%5.15%4.56%3.00%1.92%2.40%1.51%2.26%1.50%0.10%
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%0.00%

Frequently Asked Questions

SJPA.L and FLJP have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FLJP is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLJP is cheaper with a 0.09% expense ratio, compared with 0.15% for SJPA.L.

SJPA.L tracks TOPIX TR JPY, while FLJP tracks FTSE Japan RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.15% for SJPA.L and 0.09% for FLJP.

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