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XDNS.L vs. IJPA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XDNS.L vs. IJPA.L

Last updated Jun 5, 2026

XDNS.L (Xtrackers MSCI Japan ESG Screened UCITS ETF 1D) and IJPA.L (iShares Core MSCI Japan IMI UCITS ETF USD Acc) are both Japan Equities funds - XDNS.L tracks the TOPIX TR JPY while IJPA.L tracks the MSCI Japan Investable Market Index (IMI). Both are passively managed. Over the past 10 years, XDNS.L returned 9.68%/yr vs 10.12%/yr for IJPA.L. Their correlation of 0.82 suggests significant overlap in exposure. XDNS.L charges 0.15%/yr vs 0.12%/yr for IJPA.L.

Performance

XDNS.L vs. IJPA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L) and iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XDNS.L is traded in GBp, while IJPA.L is traded in USD. To make them comparable, the IJPA.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with XDNS.L having a 15.48% return and IJPA.L slightly higher at 16.15%. Both investments have delivered pretty close results over the past 10 years, with XDNS.L having a 9.68% annualized return and IJPA.L not far ahead at 10.12%.

XDNS.L

1D
-0.57%
1M
6.27%
YTD
15.48%
6M
14.59%
1Y
32.42%
3Y*
14.60%
5Y*
9.38%
10Y*
9.68%

IJPA.L

1D
-0.05%
1M
6.14%
YTD
16.15%
6M
15.80%
1Y
33.76%
3Y*
15.71%
5Y*
10.04%
10Y*
10.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
XDNS.L
Xtrackers MSCI Japan ESG Screened UCITS ETF 1D		15.48%16.58%9.87%11.58%-7.42%1.12%12.12%14.51%-10.22%14.74%
IJPA.L
iShares Core MSCI Japan IMI UCITS ETF USD Acc		16.15%18.21%8.48%13.38%-6.19%1.11%11.60%13.95%-9.06%14.95%

Correlation

The correlation between XDNS.L and IJPA.L is 0.81, 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

0.81

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

0.73

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

0.77

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

0.82

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2015

0.82

The correlation between XDNS.L and IJPA.L has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

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

Sectors
XDNS.L
IJPA.L

Industrials

25.8%
25.2%

Technology

19.8%
19.8%

Financial Services

18.5%
15.7%

Consumer Cyclical

11.3%
12.2%

Communication Services

8.8%
5.7%

Healthcare

7.0%
5.8%

Basic Materials

3.2%
5.1%

Consumer Defensive

2.6%
4.0%

Real Estate

2.5%
3.0%

Utilities

0.6%
1.2%

Energy

-

0.9%

Industrials

XDNS.L
25.8%
IJPA.L
25.2%

Technology

XDNS.L
19.8%
IJPA.L
19.8%

Financial Services

XDNS.L
18.5%
IJPA.L
15.7%

Consumer Cyclical

XDNS.L
11.3%
IJPA.L
12.2%

Communication Services

XDNS.L
8.8%
IJPA.L
5.7%

Healthcare

XDNS.L
7.0%
IJPA.L
5.8%

Basic Materials

XDNS.L
3.2%
IJPA.L
5.1%

Consumer Defensive

XDNS.L
2.6%
IJPA.L
4.0%

Real Estate

XDNS.L
2.5%
IJPA.L
3.0%

Utilities

XDNS.L
0.6%
IJPA.L
1.2%

Energy

XDNS.L

-

IJPA.L
0.9%

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Xtrackers MSCI Japan ESG Screened UCITS ETF 1D

iShares Core MSCI Japan IMI UCITS ETF USD Acc

Often compared with XDNS.L:
XDNS.L vs. X7PP.LXDNS.L vs. XDJP.LXDNS.L vs. JPXNXDNS.L vs. IJPN.LXDNS.L vs. XBCU.LXDNS.L vs. XNNS.LXDNS.L vs. XCNA.L
Often compared with IJPA.L:
IJPA.L vs. IJPE.LIJPA.L vs. VJPN.LIJPA.L vs. IJPD.LIJPA.L vs. GLDIJPA.L vs. IAUIJPA.L vs. VJPB.LIJPA.L vs. FBT.L

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XDNS.L
XDNS.L Risk / Return Rank: 6767
Overall Rank
XDNS.L Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XDNS.L Sortino Ratio Rank: 6363
Sortino Ratio Rank
XDNS.L Omega Ratio Rank: 6565
Omega Ratio Rank
XDNS.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
XDNS.L Martin Ratio Rank: 6464
Martin Ratio Rank
IJPA.L
IJPA.L Risk / Return Rank: 5151
Overall Rank
IJPA.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
IJPA.L Sortino Ratio Rank: 5151
Sortino Ratio Rank
IJPA.L Omega Ratio Rank: 5151
Omega Ratio Rank
IJPA.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
IJPA.L Martin Ratio Rank: 5252
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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.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.

XDNS.LIJPA.LDifference
Sharpe ratioReturn per unit of total volatility
2.09
1.81

+0.28

Sortino ratioReturn per unit of downside risk
2.91
2.62

+0.29

Omega ratioGain probability vs. loss probability

1.39

1.34

+0.04

Calmar ratioReturn relative to maximum drawdown

3.81

3.16

+0.65

Martin ratioReturn relative to average drawdown

11.43

10.36

+1.07

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

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

The current XDNS.L Sharpe Ratio is 2.09, which is comparable to the IJPA.L Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of XDNS.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.

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Sharpe Ratios by Period

XDNS.LIJPA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.09

1.81

+0.28

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.68

0.62

+0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.66

0.61

+0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.60

0.54

+0.06

Drawdowns

XDNS.L vs. IJPA.L - Drawdown Comparison

The maximum XDNS.L drawdown since its inception was -24.75%, roughly equal to the maximum IJPA.L drawdown of -25.10%. Use the drawdown chart below to compare losses from any high point for XDNS.L and IJPA.L.

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Drawdown Indicators

XDNS.LIJPA.LDifference

Max Drawdown

Largest peak-to-trough decline

-24.75%

-25.10%

+0.35%

Max Drawdown (1Y)

Largest decline over 1 year

-10.70%

-10.63%

-0.07%

Max Drawdown (3Y)

Largest decline over 3 years

-14.32%

-13.21%

-1.11%

Max Drawdown (5Y)

Largest decline over 5 years

-19.29%

-18.93%

-0.36%

Max Drawdown (10Y)

Largest decline over 10 years

-24.75%

-25.10%

+0.35%

Current Drawdown

Current decline from peak

-0.57%

-0.05%

-0.52%

Average Drawdown

Average peak-to-trough decline

-5.35%

-6.35%

+1.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.04%

3.25%

+0.79%

Volatility

XDNS.L vs. IJPA.L - Volatility Comparison

The current volatility for Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L) is 3.89%, while iShares Core MSCI Japan IMI UCITS ETF USD Acc (IJPA.L) has a volatility of 4.11%. This indicates that XDNS.L experiences smaller price fluctuations and is considered to be less risky than IJPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XDNS.LIJPA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.89%

4.11%

-0.22%

Volatility (6M)

Calculated over the trailing 6-month period

14.64%

15.54%

-0.90%

Volatility (1Y)

Calculated over the trailing 1-year period

19.56%

18.61%

+0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.83%

16.16%

+1.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.31%

16.58%

+0.73%

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

XDNS.L has a 0.15% 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

XDNS.L vs. IJPA.L - Dividend Comparison

XDNS.L's dividend yield for the trailing twelve months is around 1.43%, while IJPA.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
IJPA.L
iShares Core MSCI Japan IMI UCITS ETF USD Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XDNS.L
Xtrackers MSCI Japan ESG Screened UCITS ETF 1D		1.43%1.63%1.65%1.81%2.83%1.46%1.79%1.77%1.20%1.97%0.64%

Frequently Asked Questions

XDNS.L and IJPA.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

IJPA.L is cheaper with a 0.12% expense ratio, compared with 0.15% for XDNS.L.

XDNS.L tracks TOPIX TR JPY, while IJPA.L tracks MSCI Japan Investable Market Index (IMI). They also come from different issuers: DWS and iShares. Their fees differ too: 0.15% for XDNS.L and 0.12% for IJPA.L.

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