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

SJPA.L vs. XDJP.L

Last updated Jun 5, 2026

SJPA.L (iShares Core MSCI Japan IMI UCITS ETF) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both Japan Equities funds tracking the TOPIX TR JPY, from iShares and Xtrackers respectively. Both are passively managed. Over the past 10 years, SJPA.L returned 10.10%/yr vs 13.14%/yr for XDJP.L. A 0.76 correlation means they provide meaningful diversification when combined. SJPA.L charges 0.15%/yr vs 0.09%/yr for XDJP.L.

Performance

SJPA.L vs. XDJP.L - 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 Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SJPA.L achieves a 16.31% return, which is significantly lower than XDJP.L's 31.98% return. Over the past 10 years, SJPA.L has underperformed XDJP.L with an annualized return of 10.10%, while XDJP.L has yielded a comparatively higher 13.14% annualized return.

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%

XDJP.L

1D
-1.35%
1M
10.95%
YTD
31.98%
6M
29.24%
1Y
64.30%
3Y*
20.95%
5Y*
12.61%
10Y*
13.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SJPA.L vs. XDJP.L - 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%14.69%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		31.98%21.04%9.67%15.52%-10.26%-3.79%21.77%16.58%-3.53%14.73%

Correlation

The correlation between SJPA.L and XDJP.L is 0.82, 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

0.82

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

0.86

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

0.88

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

0.88

Correlation (All Time)
Calculated using the full available price history since Mar 20, 2013

0.76

The correlation between SJPA.L and XDJP.L shifts across timeframes, from 0.76 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.

SJPA.L vs. XDJP.L - Sectors Allocation Comparison

Sectors
SJPA.L
XDJP.L

Industrials

25.7%
19.4%

Technology

18.6%
31.9%

Financial Services

16.4%
3.1%

Consumer Cyclical

12.4%
16.9%

Communication Services

7.5%
12.4%

Healthcare

5.6%
6.7%

Basic Materials

4.5%
4.3%

Consumer Defensive

4.2%
3.3%

Real Estate

3.1%
1.5%

Utilities

1.2%
0.2%

Energy

0.9%
0.3%

Industrials

SJPA.L
25.7%
XDJP.L
19.4%

Technology

SJPA.L
18.6%
XDJP.L
31.9%

Financial Services

SJPA.L
16.4%
XDJP.L
3.1%

Consumer Cyclical

SJPA.L
12.4%
XDJP.L
16.9%

Communication Services

SJPA.L
7.5%
XDJP.L
12.4%

Healthcare

SJPA.L
5.6%
XDJP.L
6.7%

Basic Materials

SJPA.L
4.5%
XDJP.L
4.3%

Consumer Defensive

SJPA.L
4.2%
XDJP.L
3.3%

Real Estate

SJPA.L
3.1%
XDJP.L
1.5%

Utilities

SJPA.L
1.2%
XDJP.L
0.2%

Energy

SJPA.L
0.9%
XDJP.L
0.3%

Compare stocks, funds, or ETFs

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iShares Core MSCI Japan IMI UCITS ETF

Xtrackers Nikkei 225 UCITS ETF 1D

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 XDJP.L:
XDJP.L vs. CNKY.LXDJP.L vs. VJPN.LXDJP.L vs. DXJXDJP.L vs. DXJG.LXDJP.L vs. PRIJ.LXDJP.L vs. CSJP.LXDJP.L vs. JPJP.L

Return for Risk

SJPA.L vs. XDJP.L — 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
XDJP.L
XDJP.L Risk / Return Rank: 8484
Overall Rank
XDJP.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XDJP.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
XDJP.L Omega Ratio Rank: 8181
Omega Ratio Rank
XDJP.L Calmar Ratio Rank: 8686
Calmar Ratio Rank
XDJP.L Martin Ratio Rank: 7777
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. XDJP.L - 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 Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.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.

SJPA.LXDJP.LDifference
Sharpe ratioReturn per unit of total volatility
1.92
2.85

-0.93

Sortino ratioReturn per unit of downside risk
2.74
3.94

-1.20

Omega ratioGain probability vs. loss probability

1.37

1.48

-0.10

Calmar ratioReturn relative to maximum drawdown

3.15

4.77

-1.62

Martin ratioReturn relative to average drawdown

10.28

14.50

-4.23

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. XDJP.L - Sharpe Ratio Comparison

The current SJPA.L Sharpe Ratio is 1.92, which is lower than the XDJP.L Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of SJPA.L and XDJP.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.

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Sharpe Ratios by Period

SJPA.LXDJP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

2.85

-0.93

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.71

-0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.78

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.75

-0.18

Drawdowns

SJPA.L vs. XDJP.L - Drawdown Comparison

The maximum SJPA.L drawdown since its inception was -24.73%, roughly equal to the maximum XDJP.L drawdown of -23.69%. Use the drawdown chart below to compare losses from any high point for SJPA.L and XDJP.L.

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Drawdown Indicators

SJPA.LXDJP.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.73%

-23.69%

-1.04%

Max Drawdown (1Y)

Largest decline over 1 year

-10.71%

-13.40%

+2.69%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-18.82%

+5.37%

Max Drawdown (5Y)

Largest decline over 5 years

-18.93%

-20.61%

+1.68%

Max Drawdown (10Y)

Largest decline over 10 years

-24.73%

-23.69%

-1.04%

Current Drawdown

Current decline from peak

-0.10%

-1.35%

+1.25%

Average Drawdown

Average peak-to-trough decline

-6.68%

-6.79%

+0.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.29%

4.42%

-1.13%

Volatility

SJPA.L vs. XDJP.L - Volatility Comparison

The current volatility for iShares Core MSCI Japan IMI UCITS ETF (SJPA.L) is 3.82%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 6.75%. This indicates that SJPA.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SJPA.LXDJP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

6.75%

-2.93%

Volatility (6M)

Calculated over the trailing 6-month period

14.40%

17.68%

-3.28%

Volatility (1Y)

Calculated over the trailing 1-year period

17.60%

22.44%

-4.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.35%

17.72%

-2.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.69%

17.63%

-1.94%

SJPA.L vs. XDJP.L - Expense Ratio Comparison

SJPA.L has a 0.15% expense ratio, which is higher than XDJP.L'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. XDJP.L - Dividend Comparison

SJPA.L has not paid dividends to shareholders, while XDJP.L's dividend yield for the trailing twelve months is around 1.04%.

PositionTTM20252024202320222021202020192018201720162015
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%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		1.04%1.33%1.41%1.59%2.47%1.20%1.11%1.13%1.24%0.72%0.83%0.16%

Frequently Asked Questions

SJPA.L and XDJP.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

Both ETFs track TOPIX TR JPY. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.15% for SJPA.L and 0.09% for XDJP.L.

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