VJPU.L vs. IJPA.L

Last updated Jun 26, 2026

VJPU.L (Vanguard FTSE Japan UCITS ETF USD Hedged Acc) and IJPA.L (iShares Core MSCI Japan IMI UCITS ETF USD Acc) are both Japan Equities funds - VJPU.L tracks the FTSE Japan (USD Hedged) while IJPA.L tracks the MSCI Japan Investable Market Index (IMI). Both are passively managed. Over the past 5 years, VJPU.L returned 21.80%/yr vs 9.18%/yr for IJPA.L. Their correlation of 0.82 suggests significant overlap in exposure. VJPU.L charges 0.20%/yr vs 0.12%/yr for IJPA.L.

Performance

VJPU.L vs. IJPA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Japan UCITS ETF USD Hedged Acc (VJPU.L) and iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VJPU.L achieves a 21.58% return, which is significantly higher than IJPA.L's 16.31% return.

VJPU.L

• 1D: 0.92%
• 1M: 2.52%
• YTD: 21.58%
• 6M: 22.12%
• 1Y: 54.50%
• 3Y*: 29.12%
• 5Y*: 21.80%
• 10Y*: —

IJPA.L

• 1D: 0.85%
• 1M: 1.22%
• YTD: 16.31%
• 6M: 16.25%
• 1Y: 34.80%
• 3Y*: 19.20%
• 5Y*: 9.18%
• 10Y*: 9.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VJPU.L vs. IJPA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VJPU.L Vanguard FTSE Japan UCITS ETF USD Hedged Acc	21.58%	31.51%	23.81%	35.67%	-2.33%	12.22%	11.64%
IJPA.L iShares Core MSCI Japan IMI UCITS ETF USD Acc	16.31%	27.28%	6.62%	19.34%	-16.16%	0.16%	16.93%

Correlation

The correlation between VJPU.L and IJPA.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	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jan 31, 2020	0.82

The correlation between VJPU.L and IJPA.L has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

VJPU.L vs. IJPA.L - Sectors Allocation Comparison

Sectors	VJPU.L	IJPA.L
Industrials	25.2%	25.0%
Technology	19.4%	20.1%
Financial Services	15.8%	15.6%
Consumer Cyclical	12.7%	12.6%
Communication Services	8.0%	7.6%
Healthcare	5.5%	5.5%
Basic Materials	4.4%	4.6%
Consumer Defensive	4.0%	3.9%
Real Estate	3.0%	3.1%
Utilities	1.2%	1.2%
Energy	0.9%	0.9%

Return for Risk

VJPU.L vs. IJPA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VJPU.L

VJPU.L Risk / Return Rank: 92
VJPU.L Sharpe Ratio Rank: 92
VJPU.L Sortino Ratio Rank: 91
VJPU.L Omega Ratio Rank: 90
VJPU.L Calmar Ratio Rank: 93
VJPU.L Martin Ratio Rank: 92

IJPA.L

IJPA.L Risk / Return Rank: 60
IJPA.L Sharpe Ratio Rank: 57
IJPA.L Sortino Ratio Rank: 60
IJPA.L Omega Ratio Rank: 59
IJPA.L Calmar Ratio Rank: 65
IJPA.L Martin Ratio Rank: 60

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.

VJPU.L vs. IJPA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Japan UCITS ETF USD Hedged Acc (VJPU.L) and iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.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.

	VJPU.L	IJPA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.77	1.69	+1.09
Sortino ratio: Return per unit of downside risk	3.77	2.48	+1.29
Omega ratio: Gain probability vs. loss probability	1.50	1.32	+0.18
Calmar ratio: Return relative to maximum drawdown	5.67	2.85	+2.82
Martin ratio: Return relative to average drawdown	19.77	9.41	+10.36

VJPU.L vs. IJPA.L - Sharpe Ratio Comparison

The current VJPU.L Sharpe Ratio is 2.77, which is higher than the IJPA.L Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of VJPU.L and IJPA.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.

Drawdowns

VJPU.L vs. IJPA.L - Drawdown Comparison

The maximum VJPU.L drawdown since its inception was -27.53%, smaller than the maximum IJPA.L drawdown of -40.74%. Use the drawdown chart below to compare losses from any high point for VJPU.L and IJPA.L.

Drawdown Indicators

	VJPU.L	IJPA.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.53%	-40.74%	+13.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.57%	-12.15%	+2.58%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-13.96%	-7.48%
Max Drawdown (5Y) Largest decline over 5 years	-21.44%	-32.50%	+11.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.50%	—
Current Drawdown Current decline from peak	-2.79%	-2.93%	+0.14%
Average Drawdown Average peak-to-trough decline	-4.12%	-8.94%	+4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.69%	-0.94%

Volatility

VJPU.L vs. IJPA.L - Volatility Comparison

Vanguard FTSE Japan UCITS ETF USD Hedged Acc (VJPU.L) and iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) have volatilities of 5.90% and 6.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VJPU.L	IJPA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.90%	6.11%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	17.21%	-1.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.56%	20.55%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.49%	17.75%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	16.83%	+2.76%

VJPU.L vs. IJPA.L - Expense Ratio Comparison

VJPU.L has a 0.20% expense ratio, which is higher than IJPA.L's 0.12% 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

VJPU.L vs. IJPA.L - Dividend Comparison

Neither VJPU.L nor IJPA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VJPU.L and IJPA.L in my portfolio?

VJPU.L and IJPA.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.

Which ETF is better, VJPU.L or IJPA.L?

On fees, IJPA.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VJPU.L or IJPA.L?

IJPA.L is cheaper with a 0.12% expense ratio, compared with 0.20% for VJPU.L.

What is the main difference between VJPU.L and IJPA.L?

VJPU.L tracks FTSE Japan (USD Hedged), while IJPA.L tracks MSCI Japan Investable Market Index (IMI). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.20% for VJPU.L and 0.12% for IJPA.L.