UB02.L vs. ISJP.L
UB02.L (UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis) and ISJP.L (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - UB02.L tracks the TOPIX TR JPY while ISJP.L tracks the MSCI Japan Small Cap NR JPY. Both are passively managed. Over the past 10 years, UB02.L returned 8.76%/yr vs 7.47%/yr for ISJP.L. Their correlation of 0.88 suggests significant overlap in exposure. UB02.L charges 0.19%/yr vs 0.58%/yr for ISJP.L.
Performance
UB02.L vs. ISJP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with UB02.L having a 12.50% return and ISJP.L slightly higher at 12.82%. Over the past 10 years, UB02.L has outperformed ISJP.L with an annualized return of 8.76%, while ISJP.L has yielded a comparatively lower 7.47% annualized return.
UB02.L
- 1D
- -2.05%
- 1M
- -5.96%
- 6M
- 5.62%
- YTD
- 12.50%
- 1Y
- 30.04%
- 3Y*
- 15.09%
- 5Y*
- 9.33%
- 10Y*
- 8.76%
ISJP.L
- 1D
- -2.09%
- 1M
- -3.18%
- 6M
- 7.92%
- YTD
- 12.82%
- 1Y
- 25.88%
- 3Y*
- 14.88%
- 5Y*
- 7.70%
- 10Y*
- 7.47%
UB02.L vs. ISJP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UB02.L UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis | 12.50% | 17.42% | 9.12% | 13.98% | -7.14% | 2.16% | 12.42% | 14.28% | -8.60% | 13.20% |
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 12.82% | 20.89% | 4.99% | 7.01% | -2.01% | -2.01% | 4.51% | 13.94% | -11.99% | 19.35% |
Correlation
The correlation between UB02.L and ISJP.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2012 | 0.88 |
The correlation between UB02.L and ISJP.L has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.
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Return for Risk
UB02.L vs. ISJP.L — Risk / Return Rank
UB02.L
ISJP.L
UB02.L vs. ISJP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) and iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.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.
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.
| UB02.L | ISJP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.38 | +0.43 |
| Martin ratioReturn relative to average drawdown | 8.41 | 7.77 | +0.64 |
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Drawdowns
UB02.L vs. ISJP.L - Drawdown Comparison
The maximum UB02.L drawdown since its inception was -23.08%, smaller than the maximum ISJP.L drawdown of -62.77%. Use the drawdown chart below to compare losses from any high point for UB02.L and ISJP.L.
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Drawdown Indicators
| UB02.L | ISJP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.08% | -62.77% | +39.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.68% | -10.84% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -14.15% | -11.23% | -2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -21.01% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -23.08% | -28.98% | +5.90% |
Current DrawdownCurrent decline from peak | -8.47% | -5.57% | -2.90% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -19.76% | +13.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 3.32% | +0.24% |
Volatility
UB02.L vs. ISJP.L - Volatility Comparison
UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) has a higher volatility of 6.74% compared to iShares MSCI Japan Small Cap UCITS ETF (Dist) (ISJP.L) at 5.12%. This indicates that UB02.L's price experiences larger fluctuations and is considered to be riskier than ISJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB02.L | ISJP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 5.12% | +1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 16.22% | 14.06% | +2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 16.05% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 14.30% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.79% | 15.49% | +0.30% |
UB02.L vs. ISJP.L - Expense Ratio Comparison
UB02.L has a 0.19% expense ratio, which is lower than ISJP.L's 0.58% expense ratio.
Dividends
UB02.L vs. ISJP.L - Dividend Comparison
UB02.L's dividend yield for the trailing twelve months is around 1.65%, more than ISJP.L's 0.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISJP.L iShares MSCI Japan Small Cap UCITS ETF (Dist) | 0.99% | 1.85% | 1.73% | 1.77% | 1.99% | 1.52% | 1.58% | 1.53% | 1.39% | 1.29% | 1.07% | 0.67% |
UB02.L UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis | 1.65% | 1.68% | 1.71% | 1.82% | 1.99% | 1.58% | 1.62% | 1.75% | 1.56% | 1.30% | 1.45% | 1.18% |
Frequently Asked Questions
UB02.L and ISJP.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UB02.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB02.L is cheaper with a 0.19% expense ratio, compared with 0.58% for ISJP.L.
UB02.L tracks TOPIX TR JPY, while ISJP.L tracks MSCI Japan Small Cap NR JPY. They also come from different issuers: UBS and iShares. Their fees differ too: 0.19% for UB02.L and 0.58% for ISJP.L.
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