# iShares MSCI Japan UCITS ETF USD (Dist) (IJPN)

**Page:** https://fundology.uk/fund/ijpn · ISIN IE00B02KXH56

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, IJPN (iShares MSCI Japan UCITS ETF USD (Dist), ISIN IE00B02KXH56) closed at £18.07 on the London Stock Exchange. Its ongoing charge is 0.12% a year (about £12 on £10,000). Over the five years to 13/11/2026 its total return was +52.0%, or +18.6% after UK CPIH inflation.

## Summary

iShares MSCI Japan UCITS ETF USD (Dist) is an exchange-traded fund (ETF) from iShares, launched in 2004. It tracks the MSCI Japan — large and medium-sized Japanese companies. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£18.07** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IJPN |
| ISIN | IE00B02KXH56 |
| Also listed as | IJPU (London Stock Exchange, US dollars), IQQJ (Xetra, euros) |
| Category | Japan & Asia Pacific |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI Japan |
| Income | Distributing |
| Ongoing charge | 0.12% a year (£12 per £10,000) |
| Fund size | £3.6bn |
| Launched | 2004 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/06/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +13.50% | +9.48% | income reinvested |
| 3 years | +54.89% | +39.94% | income reinvested |
| 5 years | +52.00% | +18.65% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares MSCI Japan UCITS ETF USD (Dist) in pounds (price only, income paid out not included): 2022 −9.0%, 2023 +11.8%, 2024 +8.2%, 2025 +14.4%; 2026 to 13/11/2026 +13.8%. Returns of iShares MSCI Japan UCITS ETF USD (Dist) in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +25.3%; to 30/09/2025: +14.1%; to 30/09/2024: +9.0%; to 30/09/2023: +11.5%; to 30/09/2022: −13.6%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -9.0% | -16.7% | Price |
| 2023 | +11.8% | +7.4% | Price |
| 2024 | +8.2% | +4.5% | Price |
| 2025 | +14.4% | +10.5% | Price |
| 2026 to 13/11/2026 | +13.8% | +10.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 20.31% | -10.80% |
| 3 years | 17.68% | -15.26% |
| 5 years | 16.39% | -17.11% |

## Largest fall

Volatility of iShares MSCI Japan UCITS ETF USD (Dist) in pounds, annualised from weekly returns to 13/11/2026: 20.3% over 1 year, 17.7% over 3 years, 16.4% over 5 years. Largest fall in the price of iShares MSCI Japan UCITS ETF USD (Dist) since November 2021, in pounds: −16.7% from 19/11/2021 to 17/06/2022. The lowest 12-month return of iShares MSCI Japan UCITS ETF USD (Dist) in pounds (price only, income paid out not included) since July 2021 was −14.8% (12 months to 16/09/2022); the highest was +39.6% (12 months to 19/06/2026). On 13/11/2026 the price of iShares MSCI Japan UCITS ETF USD (Dist) was 7.5% below its highest weekly close since November 2021 (02/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI Japan UCITS ETF USD (Dist) 0.12% a year. Compared on 14/11/2026, 86 of the 108 other Japan and Asia Pacific share funds charge more, 10 the same and 12 less (share classes counted once).

## Funds tracking the same index

13 funds track MSCI Japan, this one included and share classes counted once; their ongoing charges range from 0.10% to 0.40% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| HSBC MSCI Japan UCITS ETF Accum Shs USD | 0.13% | +14.1% | — | — |
| HSBC MSCI Japan UCITS ETF USD | 0.12% | +13.4% | +54.8% | +53.2% |
| Invesco MSCI Japan UCITS ETF | 0.12% | +14.0% | +54.6% | +52.9% |
| iShares MSCI Japan UCITS ETF | 0.14% | +13.5% | +54.9% | +52.4% |
| iShares MSCI Japan UCITS ETF USD (Dist) (this fund) | 0.12% | +13.5% | +54.9% | +52.0% |
| Multi Units Luxembourg SICAV - Amundi Core MSCI Japan UCITS ETF Acc | 0.12% | +13.6% | +54.9% | +53.3% |
| State Street SPDR MSCI Japan UCITS ETF | 0.12% | +13.0% | +56.1% | +53.1% |
| UBS Core MSCI Japan UCITS ETF Capitalisation -USD- | 0.10% | — | — | — |
| UBS Core MSCI Japan UCITS ETF JPY dis Distribution | 0.12% | +13.0% | +56.1% | +53.2% |
| UBS Core MSCI Japan UCITS ETF-JPY acc- Capitalisation | 0.12% | +13.2% | +54.4% | +53.2% |
| Xtrackers MSCI Japan UCITS ETF | 0.40% | +13.8% | +77.6% | +121.8% |
| Xtrackers MSCI Japan UCITS ETF 1D Distribution | 0.12% | +13.5% | — | — |
| Xtrackers MSCI JAPAN UCITS ETF Capitalisation 1C | 0.12% | +13.5% | +55.0% | +53.3% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.12%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, IJPN holds 167 positions, according to its published holdings. The largest is Mitsubishi UFJ Financial Group at 4.55% of the fund; the ten largest make up 29.8%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Mitsubishi UFJ Financial Group | [8306](https://fundology.uk/stock/8306) | 4.55% |
| 2 | Toyota Motor | [7203](https://fundology.uk/stock/7203) | 4.18% |
| 3 | Sony Group | [6758](https://fundology.uk/stock/6758) | 3.18% |
| 4 | Recruit | [6098](https://fundology.uk/stock/6098) | 2.97% |
| 5 | Sumitomo Mitsui Financial Group | [8316](https://fundology.uk/stock/8316) | 2.88% |
| 6 | Advantest | [6857](https://fundology.uk/stock/6857) | 2.70% |
| 7 | Hitachi | [6501](https://fundology.uk/stock/6501) | 2.65% |
| 8 | Tokyo Electron | [8035](https://fundology.uk/stock/8035) | 2.42% |
| 9 | Mizuho Financial Group | [8411](https://fundology.uk/stock/8411) | 2.20% |
| 10 | Tokio Marine | [8766](https://fundology.uk/stock/8766) | 2.02% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 06/11/2026.

| Sector | Weight |
|---|---|
| Industrials | 23.9% |
| Financials | 19.2% |
| Consumer Discretionary | 16.6% |
| Information Technology | 15.3% |
| Communication Services | 6.5% |
| Health Care | 6.0% |
| Consumer Staples | 3.9% |
| Materials | 3.5% |
| Other sectors | 5.0% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.0% |
| Cash and money market | 1.0% |

All 168 holdings: https://fundology.uk/fund/ijpn/holdings

## Questions people ask

**What is the ongoing charge of IJPN?**

The ongoing charge of IJPN is 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares MSCI Japan UCITS ETF USD (Dist) 0.12% a year. Compared on 14/11/2026, 86 of the 108 other Japan and Asia Pacific share funds charge more, 10 the same and 12 less (share classes counted once).

**What does IJPN track?**

IJPN tracks the MSCI Japan — large and medium-sized Japanese companies.

**Is IJPN accumulating or distributing?**

IJPN is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of IJPN?**

The ISIN of IJPN is IE00B02KXH56. An ISIN identifies one exact share class of a fund; IJPN is its ticker on the London Stock Exchange. The same share class is also listed as IJPU (London Stock Exchange, US dollars) and IQQJ (Xetra, euros).

**What does IJPN hold?**

As of 06/11/2026, IJPN holds 167 positions, according to its published holdings. The largest is Mitsubishi UFJ Financial Group at 4.55% of the fund; the ten largest make up 29.8%. Its ten largest holdings are Mitsubishi UFJ Financial Group (4.55%), Toyota Motor (4.18%), Sony Group (3.18%), Recruit (2.97%), Sumitomo Mitsui Financial Group (2.88%), Advantest (2.70%), Hitachi (2.65%), Tokyo Electron (2.42%), Mizuho Financial Group (2.20%) and Tokio Marine (2.02%).

**What were IJPN’s returns in each of the last five years?**

Calendar-year returns of IJPN in pounds (price only, income paid out not included): 2022 −9.0%, 2023 +11.8%, 2024 +8.2%, 2025 +14.4%; 2026 to 13/11/2026 +13.8%. Past performance is not a guide to future returns.

**How has IJPN done after inflation?**

Over the five years to 13/11/2026 IJPN’s total return was +52.0%, or +18.6% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/251866/ishares-msci-japan-ucits-etf-inc-fund)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-japan-ucits-etf-dist-gb-ie00b02kxh56-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/ijpn-ishares-msci-japan-ucits-etf-usd-dist-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.