TPXG.L vs. ^GSPC
TPXG.L (Amundi Japan Topix UCITS ETF JPY) is Japan Equities fund tracking the TOPIX TR JPY, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, TPXG.L returned 10.97%/yr vs 13.60%/yr for ^GSPC. At a 0.15 correlation, their price movements are largely independent.
Performance
TPXG.L vs. ^GSPC - Performance Comparison
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Different Trading Currencies
TPXG.L is traded in GBp, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, TPXG.L achieves a 14.95% return, which is significantly higher than ^GSPC's 11.24% return.
TPXG.L
- 1D
- -0.19%
- 1M
- 5.60%
- YTD
- 14.95%
- 6M
- 14.59%
- 1Y
- 32.01%
- 3Y*
- 16.91%
- 5Y*
- 10.97%
- 10Y*
- —
^GSPC
- 1D
- 0.41%
- 1M
- 5.44%
- YTD
- 11.24%
- 6M
- 9.84%
- 1Y
- 28.25%
- 3Y*
- 18.03%
- 5Y*
- 13.60%
- 10Y*
- 14.50%
TPXG.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPXG.L Amundi Japan Topix UCITS ETF JPY | 14.95% | 18.33% | 8.12% | 13.45% | -6.05% | 2.07% | 7.12% | 8.68% | -2.90% | 7.54% |
^GSPC S&P 500 Index | 11.24% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 4.92% |
Correlation
The correlation between TPXG.L and ^GSPC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2017 | 0.16 |
The correlation between TPXG.L and ^GSPC shifts across timeframes, from 0.15 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TPXG.L vs. ^GSPC — Risk / Return Rank
TPXG.L
^GSPC
TPXG.L vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Japan Topix UCITS ETF JPY (TPXG.L) and S&P 500 Index (^GSPC). 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.
| TPXG.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.46 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 3.53 | -0.52 |
| Martin ratioReturn relative to average drawdown | 9.66 | 13.19 | -3.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TPXG.L | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.46 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.86 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.58 | +0.29 |
Drawdowns
TPXG.L vs. ^GSPC - Drawdown Comparison
The maximum TPXG.L drawdown since its inception was -22.96%, smaller than the maximum ^GSPC drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for TPXG.L and ^GSPC.
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Drawdown Indicators
| TPXG.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.96% | -37.07% | +14.11% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -8.03% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -12.96% | -22.15% | +9.19% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | -22.15% | +4.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.01% | — |
Current DrawdownCurrent decline from peak | -0.19% | 0.00% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -5.32% | +0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.15% | +1.15% |
Volatility
TPXG.L vs. ^GSPC - Volatility Comparison
Amundi Japan Topix UCITS ETF JPY (TPXG.L) has a higher volatility of 3.74% compared to S&P 500 Index (^GSPC) at 2.60%. This indicates that TPXG.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPXG.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 2.60% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 8.20% | +5.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 11.52% | +5.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.10% | 15.85% | +4.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 18.15% | +6.33% |
Frequently Asked Questions
TPXG.L and ^GSPC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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