TPXG.L vs. HPJS.L
TPXG.L (Amundi Japan Topix UCITS ETF JPY) and HPJS.L (HSBC MSCI Japan Climate Paris Aligned UCITS ETF) are both Japan Equities funds tracking the TOPIX TR JPY, from Amundi and HSBC respectively. Both are passively managed. Over the past 3 years, TPXG.L returned 16.91%/yr vs 7.09%/yr for HPJS.L. A 0.59 correlation means they provide meaningful diversification when combined. TPXG.L charges 0.20%/yr vs 0.18%/yr for HPJS.L.
Performance
TPXG.L vs. HPJS.L - Performance Comparison
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Different Trading Currencies
TPXG.L is traded in GBp, while HPJS.L is traded in GBP. To make them comparable, the HPJS.L 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 HPJS.L's 8.46% 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*
- —
HPJS.L
- 1D
- -1.17%
- 1M
- 3.06%
- YTD
- 8.46%
- 6M
- 6.41%
- 1Y
- 25.00%
- 3Y*
- 7.09%
- 5Y*
- —
- 10Y*
- —
TPXG.L vs. HPJS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TPXG.L Amundi Japan Topix UCITS ETF JPY | 14.95% | 18.33% | 8.12% | 13.45% | -6.05% | 0.41% |
HPJS.L HSBC MSCI Japan Climate Paris Aligned UCITS ETF | 8.46% | 14.99% | -1.51% | 9.90% | -15.00% | -3.14% |
Correlation
The correlation between TPXG.L and HPJS.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2021 | 0.59 |
Over the past year, TPXG.L and HPJS.L have become more correlated (0.87) than their long-term average of 0.59, meaning their price movements have been converging.
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Return for Risk
TPXG.L vs. HPJS.L — Risk / Return Rank
TPXG.L
HPJS.L
TPXG.L vs. HPJS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Japan Topix UCITS ETF JPY (TPXG.L) and HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJS.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.
| TPXG.L | HPJS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.25 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 2.04 | +0.98 |
| Martin ratioReturn relative to average drawdown | 9.66 | 6.70 | +2.97 |
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 | HPJS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 1.35 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.15 | +0.72 |
Drawdowns
TPXG.L vs. HPJS.L - Drawdown Comparison
The maximum TPXG.L drawdown since its inception was -22.96%, smaller than the maximum HPJS.L drawdown of -24.65%. Use the drawdown chart below to compare losses from any high point for TPXG.L and HPJS.L.
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Drawdown Indicators
| TPXG.L | HPJS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.96% | -24.65% | +1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -12.22% | +1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -12.96% | -17.24% | +4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -18.00% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.70% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -11.45% | +7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 3.72% | -0.42% |
Volatility
TPXG.L vs. HPJS.L - Volatility Comparison
The current volatility for Amundi Japan Topix UCITS ETF JPY (TPXG.L) is 3.74%, while HSBC MSCI Japan Climate Paris Aligned UCITS ETF (HPJS.L) has a volatility of 4.72%. This indicates that TPXG.L experiences smaller price fluctuations and is considered to be less risky than HPJS.L 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 | HPJS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 4.72% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 14.68% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 18.43% | -1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.10% | 15.94% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.48% | 15.94% | +8.54% |
TPXG.L vs. HPJS.L - Expense Ratio Comparison
TPXG.L has a 0.20% expense ratio, which is higher than HPJS.L's 0.18% 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
TPXG.L vs. HPJS.L - Dividend Comparison
Neither TPXG.L nor HPJS.L has paid dividends to shareholders.
Frequently Asked Questions
TPXG.L and HPJS.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPJS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPJS.L is cheaper with a 0.18% expense ratio, compared with 0.20% for TPXG.L.
Both ETFs track TOPIX TR JPY. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.20% for TPXG.L and 0.18% for HPJS.L.
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