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

SJPA.L vs. ICLN

Last updated Jun 13, 2026

SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - SJPA.L is a Japan Equities fund tracking the TOPIX TR JPY, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 10 years, SJPA.L returned 10.26%/yr vs 12.25%/yr for ICLN. At a 0.39 correlation, their price movements are largely independent. SJPA.L charges 0.15%/yr vs 0.39%/yr for ICLN.

Performance

SJPA.L vs. ICLN - 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 iShares Global Clean Energy ETF (ICLN). 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 ICLN is traded in USD. To make them comparable, the ICLN values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SJPA.L achieves a 15.47% return, which is significantly lower than ICLN's 27.98% return. Over the past 10 years, SJPA.L has underperformed ICLN with an annualized return of 10.26%, while ICLN has yielded a comparatively higher 12.25% annualized return.

SJPA.L

1D
2.26%
1M
0.53%
YTD
15.47%
6M
14.66%
1Y
32.71%
3Y*
14.56%
5Y*
9.85%
10Y*
10.26%

ICLN

1D
0.96%
1M
-3.55%
YTD
27.98%
6M
26.69%
1Y
63.36%
3Y*
3.13%
5Y*
0.82%
10Y*
12.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJPA.L vs. ICLN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SJPA.L
iShares Core MSCI Japan IMI UCITS ETF		15.47%18.19%8.36%12.76%-6.21%1.62%11.03%14.68%-9.15%14.69%
ICLN
iShares Global Clean Energy ETF		27.98%36.57%-24.42%-24.38%5.82%-23.46%134.72%38.87%-3.64%10.96%

Correlation

The correlation between SJPA.L and ICLN is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

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

0.25

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

0.26

Correlation (10Y)
Calculated over the trailing 10-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Sep 25, 2009

0.39

The correlation between SJPA.L and ICLN shifts across timeframes, from 0.25 (3 years) to 0.39 (all time), reflecting how their relationship changes across market environments.

SJPA.L vs. ICLN - Sectors Allocation Comparison

Sectors
SJPA.L
ICLN

Industrials

25.6%
27.8%

Technology

19.1%
11.1%

Financial Services

15.9%

-

Consumer Cyclical

12.5%
0.1%

Communication Services

7.6%

-

Healthcare

5.5%

-

Basic Materials

4.6%
1.1%

Consumer Defensive

4.1%

-

Real Estate

3.1%

-

Utilities

1.2%
32.8%

Energy

0.9%
26.4%

Industrials

SJPA.L
25.6%
ICLN
27.8%

Technology

SJPA.L
19.1%
ICLN
11.1%

Financial Services

SJPA.L
15.9%
ICLN

-

Consumer Cyclical

SJPA.L
12.5%
ICLN
0.1%

Communication Services

SJPA.L
7.6%
ICLN

-

Healthcare

SJPA.L
5.5%
ICLN

-

Basic Materials

SJPA.L
4.6%
ICLN
1.1%

Consumer Defensive

SJPA.L
4.1%
ICLN

-

Real Estate

SJPA.L
3.1%
ICLN

-

Utilities

SJPA.L
1.2%
ICLN
32.8%

Energy

SJPA.L
0.9%
ICLN
26.4%

Compare stocks, funds, or ETFs

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

iShares Core MSCI Japan IMI UCITS ETF

iShares Global Clean Energy 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 ICLN:
ICLN vs. TANICLN vs. QCLNICLN vs. GRIDICLN vs. INRG.LICLN vs. PBWICLN vs. CNRGICLN vs. LIT

Return for Risk

SJPA.L vs. ICLN — 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: 6565
Overall Rank
SJPA.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SJPA.L Sortino Ratio Rank: 6565
Sortino Ratio Rank
SJPA.L Omega Ratio Rank: 6767
Omega Ratio Rank
SJPA.L Calmar Ratio Rank: 6969
Calmar Ratio Rank
SJPA.L Martin Ratio Rank: 6363
Martin Ratio Rank
ICLN
ICLN Risk / Return Rank: 7575
Overall Rank
ICLN Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
ICLN Sortino Ratio Rank: 7070
Sortino Ratio Rank
ICLN Omega Ratio Rank: 6767
Omega Ratio Rank
ICLN Calmar Ratio Rank: 8181
Calmar Ratio Rank
ICLN Martin Ratio Rank: 8181
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. ICLN - 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 iShares Global Clean Energy ETF (ICLN). 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.

SJPA.LICLNDifference
Sharpe ratioReturn per unit of total volatility
1.82
2.38

-0.56

Sortino ratioReturn per unit of downside risk
2.62
2.99

-0.38

Omega ratioGain probability vs. loss probability

1.35

1.38

-0.03

Calmar ratioReturn relative to maximum drawdown

3.04

4.03

-0.99

Martin ratioReturn relative to average drawdown

9.86

13.19

-3.34

SJPA.L vs. ICLN - Sharpe Ratio Comparison

The current SJPA.L Sharpe Ratio is 1.82, which is comparable to the ICLN Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of SJPA.L and ICLN, 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

SJPA.L vs. ICLN - Drawdown Comparison

The maximum SJPA.L drawdown since its inception was -45.53%, smaller than the maximum ICLN drawdown of -84.40%. Use the drawdown chart below to compare losses from any high point for SJPA.L and ICLN.

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Drawdown Indicators

SJPA.LICLNDifference

Max Drawdown

Largest peak-to-trough decline

-45.53%

-84.40%

+38.87%

Max Drawdown (1Y)

Largest decline over 1 year

-10.71%

-15.79%

+5.08%

Max Drawdown (3Y)

Largest decline over 3 years

-19.68%

-42.62%

+22.94%

Max Drawdown (5Y)

Largest decline over 5 years

-19.68%

-57.04%

+37.36%

Max Drawdown (10Y)

Largest decline over 10 years

-24.73%

-64.68%

+39.95%

Current Drawdown

Current decline from peak

-0.82%

-32.10%

+31.28%

Average Drawdown

Average peak-to-trough decline

-15.72%

-57.59%

+41.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.31%

4.82%

-1.51%

Volatility

SJPA.L vs. ICLN - Volatility Comparison

The current volatility for iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) is 4.41%, while iShares Global Clean Energy ETF (ICLN) has a volatility of 12.56%. This indicates that SJPA.L experiences smaller price fluctuations and is considered to be less risky than ICLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SJPA.LICLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

12.56%

-8.15%

Volatility (6M)

Calculated over the trailing 6-month period

14.72%

21.31%

-6.59%

Volatility (1Y)

Calculated over the trailing 1-year period

17.89%

26.75%

-8.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.67%

25.64%

-4.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.47%

26.28%

-7.81%

SJPA.L vs. ICLN - Expense Ratio Comparison

SJPA.L has a 0.15% expense ratio, which is lower than ICLN's 0.39% expense ratio.

Dividends

SJPA.L vs. ICLN - Dividend Comparison

SJPA.L has not paid dividends to shareholders, while ICLN's dividend yield for the trailing twelve months is around 1.28%.

PositionTTM20252024202320222021202020192018201720162015
ICLN
iShares Global Clean Energy ETF		1.28%1.63%1.85%1.59%0.89%1.18%0.34%1.36%2.77%2.49%3.88%2.36%
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%0.00%0.00%

Frequently Asked Questions

SJPA.L and ICLN have a correlation of 0.33, 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 0.39% for ICLN.

SJPA.L is categorized as Japan Equities, while ICLN is Alternative Energy Equities. SJPA.L tracks TOPIX TR JPY, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.15% for SJPA.L and 0.39% for ICLN.

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