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 10 years, TPXG.L returned 9.53%/yr vs 13.83%/yr for ^GSPC. At a 0.44 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 16.63% return, which is significantly higher than ^GSPC's 9.67% return. Over the past 10 years, TPXG.L has underperformed ^GSPC with an annualized return of 9.53%, while ^GSPC has yielded a comparatively higher 13.83% annualized return.
TPXG.L
- 1D
- -0.10%
- 1M
- 2.38%
- YTD
- 16.63%
- 6M
- 16.83%
- 1Y
- 34.94%
- 3Y*
- 17.08%
- 5Y*
- 10.10%
- 10Y*
- 9.53%
^GSPC
- 1D
- -0.06%
- 1M
- -0.51%
- YTD
- 9.67%
- 6M
- 8.54%
- 1Y
- 24.57%
- 3Y*
- 17.50%
- 5Y*
- 12.56%
- 10Y*
- 13.83%
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 | 16.63% | 18.25% | 8.19% | 13.45% | -5.57% | 1.08% | 10.62% | 15.26% | -11.01% | 15.11% |
^GSPC S&P 500 Index | 9.67% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 9.09% |
Correlation
The correlation between TPXG.L and ^GSPC is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2015 | 0.44 |
The correlation between TPXG.L and ^GSPC shifts across timeframes, from 0.33 (3 years) to 0.45 (10 years), 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.
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.
| TPXG.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.38 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 3.07 | +0.22 |
| Martin ratioReturn relative to average drawdown | 10.47 | 11.25 | -0.78 |
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Drawdowns
TPXG.L vs. ^GSPC - Drawdown Comparison
The maximum TPXG.L drawdown since its inception was -59.09%, which is greater than ^GSPC's maximum 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 | -59.09% | -37.07% | -22.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -8.03% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -13.59% | -22.15% | +8.56% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -22.15% | +3.52% |
Max Drawdown (10Y)Largest decline over 10 years | -49.79% | -26.01% | -23.78% |
Current DrawdownCurrent decline from peak | -2.74% | -1.86% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -17.33% | -5.29% | -12.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.32% | 2.19% | +1.13% |
Volatility
TPXG.L vs. ^GSPC - Volatility Comparison
Amundi Japan Topix UCITS ETF JPY (TPXG.L) has a higher volatility of 5.39% compared to S&P 500 Index (^GSPC) at 4.32%. 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 | 5.39% | 4.32% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 14.74% | 8.97% | +5.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.85% | 12.02% | +5.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.45% | 15.95% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.40% | 18.08% | +11.32% |
Frequently Asked Questions
TPXG.L and ^GSPC have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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