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VJPN.L vs. JPNL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VJPN.L vs. JPNL.L

Last updated Jun 5, 2026

VJPN.L (Vanguard FTSE Japan UCITS ETF Distributing) and JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) are both Japan Equities funds tracking the TOPIX TR JPY, from Vanguard and Amundi respectively. Both are passively managed. Over the past 10 years, VJPN.L returned 11.10%/yr vs 9.84%/yr for JPNL.L. A 0.80 correlation means they provide meaningful diversification when combined. VJPN.L charges 0.15%/yr vs 0.45%/yr for JPNL.L.

Performance

VJPN.L vs. JPNL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VJPN.L is traded in GBP, while JPNL.L is traded in GBp. To make them comparable, the JPNL.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VJPN.L achieves a 16.32% return, which is significantly higher than JPNL.L's 14.78% return. Over the past 10 years, VJPN.L has outperformed JPNL.L with an annualized return of 11.10%, while JPNL.L has yielded a comparatively lower 9.84% annualized return.

VJPN.L

1D
0.70%
1M
6.43%
YTD
16.32%
6M
16.26%
1Y
35.06%
3Y*
16.39%
5Y*
10.73%
10Y*
11.10%

JPNL.L

1D
-0.07%
1M
5.50%
YTD
14.78%
6M
14.36%
1Y
31.62%
3Y*
14.93%
5Y*
9.61%
10Y*
9.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VJPN.L vs. JPNL.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VJPN.L
Vanguard FTSE Japan UCITS ETF Distributing		16.32%18.86%9.05%14.00%-5.70%2.26%12.84%14.56%-8.37%14.72%
JPNL.L
Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR		14.78%17.96%7.74%12.66%-5.98%1.37%8.23%15.36%-9.97%14.63%

Correlation

The correlation between VJPN.L and JPNL.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.95

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

0.86

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

0.78

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

0.82

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2013

0.80

The correlation between VJPN.L and JPNL.L shifts across timeframes, from 0.78 (5 years) to 0.95 (1 year), reflecting how their relationship changes across market environments.

VJPN.L vs. JPNL.L - Sectors Allocation Comparison

Sectors
VJPN.L
JPNL.L

Industrials

26.6%
26.9%

Technology

17.4%
17.7%

Financial Services

15.9%
17.1%

Consumer Cyclical

12.8%
12.1%

Communication Services

7.1%
7.8%

Healthcare

5.9%
5.5%

Basic Materials

4.3%
4.7%

Consumer Defensive

4.2%
4.2%

Real Estate

3.4%
1.8%

Utilities

1.3%
1.3%

Energy

1.0%
0.9%

Industrials

VJPN.L
26.6%
JPNL.L
26.9%

Technology

VJPN.L
17.4%
JPNL.L
17.7%

Financial Services

VJPN.L
15.9%
JPNL.L
17.1%

Consumer Cyclical

VJPN.L
12.8%
JPNL.L
12.1%

Communication Services

VJPN.L
7.1%
JPNL.L
7.8%

Healthcare

VJPN.L
5.9%
JPNL.L
5.5%

Basic Materials

VJPN.L
4.3%
JPNL.L
4.7%

Consumer Defensive

VJPN.L
4.2%
JPNL.L
4.2%

Real Estate

VJPN.L
3.4%
JPNL.L
1.8%

Utilities

VJPN.L
1.3%
JPNL.L
1.3%

Energy

VJPN.L
1.0%
JPNL.L
0.9%

Compare stocks, funds, or ETFs

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Vanguard FTSE Japan UCITS ETF Distributing

Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR

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Often compared with JPNL.L:
JPNL.L vs. TPXG.LJPNL.L vs. JPXNJPNL.L vs. QQQJPNL.L vs. VOOJPNL.L vs. ^GSPCJPNL.L vs. VTJPNL.L vs. ^N225

Return for Risk

VJPN.L vs. JPNL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VJPN.L
VJPN.L Risk / Return Rank: 6060
Overall Rank
VJPN.L Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
VJPN.L Sortino Ratio Rank: 5959
Sortino Ratio Rank
VJPN.L Omega Ratio Rank: 6161
Omega Ratio Rank
VJPN.L Calmar Ratio Rank: 6565
Calmar Ratio Rank
VJPN.L Martin Ratio Rank: 5959
Martin Ratio Rank
JPNL.L
JPNL.L Risk / Return Rank: 6060
Overall Rank
JPNL.L Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
JPNL.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
JPNL.L Omega Ratio Rank: 6161
Omega Ratio Rank
JPNL.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
JPNL.L Martin Ratio Rank: 5757
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.

VJPN.L vs. JPNL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.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.

VJPN.LJPNL.LDifference
Sharpe ratioReturn per unit of total volatility
1.91
1.93

-0.02

Sortino ratioReturn per unit of downside risk
2.75
2.69

+0.06

Omega ratioGain probability vs. loss probability

1.37

1.37

0.00

Calmar ratioReturn relative to maximum drawdown

3.20

3.26

-0.05

Martin ratioReturn relative to average drawdown

10.40

9.96

+0.45

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VJPN.L vs. JPNL.L - Sharpe Ratio Comparison

The current VJPN.L Sharpe Ratio is 1.91, which is comparable to the JPNL.L Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of VJPN.L and JPNL.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

VJPN.LJPNL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.91

1.93

-0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.69

0.74

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.71

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.62

0.73

-0.10

Drawdowns

VJPN.L vs. JPNL.L - Drawdown Comparison

The maximum VJPN.L drawdown since its inception was -25.19%, roughly equal to the maximum JPNL.L drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for VJPN.L and JPNL.L.

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Drawdown Indicators

VJPN.LJPNL.LDifference

Max Drawdown

Largest peak-to-trough decline

-25.19%

-25.42%

+0.23%

Max Drawdown (1Y)

Largest decline over 1 year

-10.68%

-10.63%

-0.05%

Max Drawdown (3Y)

Largest decline over 3 years

-13.45%

-13.44%

-0.01%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-18.53%

+0.62%

Max Drawdown (10Y)

Largest decline over 10 years

-25.19%

-25.42%

+0.23%

Current Drawdown

Current decline from peak

0.00%

-0.35%

+0.35%

Average Drawdown

Average peak-to-trough decline

-5.26%

-5.36%

+0.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.29%

3.37%

-0.08%

Volatility

VJPN.L vs. JPNL.L - Volatility Comparison

Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) has a higher volatility of 3.85% compared to Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) at 3.61%. This indicates that VJPN.L's price experiences larger fluctuations and is considered to be riskier than JPNL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VJPN.LJPNL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

3.61%

+0.24%

Volatility (6M)

Calculated over the trailing 6-month period

14.62%

14.26%

+0.36%

Volatility (1Y)

Calculated over the trailing 1-year period

17.91%

17.96%

-0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.50%

18.30%

-2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.90%

17.84%

-1.94%

VJPN.L vs. JPNL.L - Expense Ratio Comparison

VJPN.L has a 0.15% expense ratio, which is lower than JPNL.L's 0.45% expense ratio.

Dividends

VJPN.L vs. JPNL.L - Dividend Comparison

VJPN.L's dividend yield for the trailing twelve months is around 2.23%, more than JPNL.L's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
JPNL.L
Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR		0.62%0.71%0.74%1.23%1.83%1.37%1.14%1.98%1.84%1.43%1.96%1.77%
VJPN.L
Vanguard FTSE Japan UCITS ETF Distributing		2.23%2.54%2.47%2.39%2.64%2.31%2.14%2.36%2.55%1.94%2.04%2.08%

Frequently Asked Questions

With a correlation of 0.95, VJPN.L and JPNL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, VJPN.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VJPN.L is cheaper with a 0.15% expense ratio, compared with 0.45% for JPNL.L.

Both ETFs track TOPIX TR JPY. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.15% for VJPN.L and 0.45% for JPNL.L.

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