# Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD (PAJS)

**Page:** https://fundology.uk/fund/pajs · ISIN IE000I8IKC59

## 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, PAJS (Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD, ISIN IE000I8IKC59) closed at £4.14 on the London Stock Exchange. Its ongoing charge is 0.16% a year (about £16 on £10,000). Over the three years to 13/11/2026 its total return was +33.4%, or +20.5% after UK CPIH inflation.

## Summary

Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD is an exchange-traded fund (ETF) from Invesco, launched in 2021. It tracks the MSCI Japan ESG Climate Paris Aligned Benchmark Select Index - Benchmark Price Return — 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 0.16% a year — about £16 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£4.14** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | PAJS |
| ISIN | IE000I8IKC59 |
| Also listed as | PAJP (London Stock Exchange, US dollars), PAUJ (Xetra, euros) |
| Category | Sustainable & clean energy |
| Type | ETF |
| Provider | Invesco |
| Tracks | MSCI Japan ESG Climate Paris Aligned Benchmark Select Index - Benchmark Price Return |
| Income | Accumulating |
| Ongoing charge | 0.16% a year (£16 per £10,000) |
| Fund size | £35.7m |
| Launched | 2021 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 06/12/2021 |

## 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 | +3.48% | -0.18% | income reinvested |
| 3 years | +33.36% | +20.49% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD in pounds (price, with income reinvested in the fund): 2022 −13.7%, 2023 +8.7%, 2024 +1.6%, 2025 +12.4%; 2026 to 13/11/2026 +8.3%. Returns of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +10.5%; to 30/09/2025: +12.5%; to 30/09/2024: +7.8%; to 30/09/2023: +3.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -13.7% | -21.0% | Price |
| 2023 | +8.7% | +4.3% | Price |
| 2024 | +1.6% | -1.9% | Price |
| 2025 | +12.4% | +8.5% | Price |
| 2026 to 13/11/2026 | +8.3% | +4.8% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 18.62% | -11.92% |
| 3 years | 16.25% | -12.88% |

## Largest fall

Volatility of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD in pounds, annualised from weekly returns to 13/11/2026: 18.6% over 1 year, 16.3% over 3 years. Largest fall in the price of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD since December 2021, in pounds: −22.4% from 10/12/2021 to 17/06/2022. The lowest 12-month return of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD in pounds (price, with income reinvested in the fund) since December 2021 was −16.3% (12 months to 16/12/2022); the highest was +26.3% (12 months to 19/06/2026). On 13/11/2026 the price of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD was 4.3% below its highest weekly close since December 2021 (02/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD 0.16% a year. Compared on 14/11/2026, 158 of the 177 other sustainable and clean-energy funds charge more, 3 the same and 16 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.16%** per year (as of 13/11/2026)
- 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 12/11/2026, PAJS holds 42 positions, according to its published holdings. The largest is Advantest at 6.57% of the fund; the ten largest make up 47.3%.

### Top holdings

Largest positions (as of 12/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Advantest | [6857](https://fundology.uk/stock/6857) | 6.57% |
| 2 | East Japan Railway | [9020](https://fundology.uk/stock/9020) | 5.71% |
| 3 | Keyence | [6861](https://fundology.uk/stock/6861) | 5.60% |
| 4 | Sumitomo Realty & Development | [8830](https://fundology.uk/stock/8830) | 4.68% |
| 5 | Japan Exchange Group | [8697](https://fundology.uk/stock/8697) | 4.53% |
| 6 | Fanuc | [6954](https://fundology.uk/stock/6954) | 4.22% |
| 7 | Central Japan Railway | [9022](https://fundology.uk/stock/9022) | 4.13% |
| 8 | Nintendo | [7974](https://fundology.uk/stock/7974) | 4.12% |
| 9 | Tokio Marine | [8766](https://fundology.uk/stock/8766) | 4.07% |
| 10 | Disco | [6146](https://fundology.uk/stock/6146) | 3.66% |

## 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 29/10/2026.

| Sector | Weight |
|---|---|
| Information Technology | 26.1% |
| Industrials | 17.4% |
| Financials | 14.2% |
| Health Care | 12.3% |
| Communication Services | 10.6% |
| Consumer Discretionary | 9.8% |
| Real Estate | 9.6% |

All 42 holdings: https://fundology.uk/fund/pajs/holdings

## Questions people ask

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

The ongoing charge of PAJS is 0.16% a year — about £16 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 Invesco MSCI Japan ESG Climate Paris Aligned UCITS ETF Accum- USD 0.16% a year. Compared on 14/11/2026, 158 of the 177 other sustainable and clean-energy funds charge more, 3 the same and 16 less (share classes counted once).

**What does PAJS track?**

PAJS tracks the MSCI Japan ESG Climate Paris Aligned Benchmark Select Index - Benchmark Price Return — large and medium-sized Japanese companies.

**Is PAJS accumulating or distributing?**

PAJS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of PAJS?**

The ISIN of PAJS is IE000I8IKC59. An ISIN identifies one exact share class of a fund; PAJS is its ticker on the London Stock Exchange. The same share class is also listed as PAJP (London Stock Exchange, US dollars) and PAUJ (Xetra, euros).

**What does PAJS hold?**

As of 12/11/2026, PAJS holds 42 positions, according to its published holdings. The largest is Advantest at 6.57% of the fund; the ten largest make up 47.3%. Its ten largest holdings are Advantest (6.57%), East Japan Railway (5.71%), Keyence (5.60%), Sumitomo Realty & Development (4.68%), Japan Exchange Group (4.53%), Fanuc (4.22%), Central Japan Railway (4.13%), Nintendo (4.12%), Tokio Marine (4.07%) and Disco (3.66%).

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

Calendar-year returns of PAJS in pounds (price, with income reinvested in the fund): 2022 −13.7%, 2023 +8.7%, 2024 +1.6%, 2025 +12.4%; 2026 to 13/11/2026 +8.3%. Past performance is not a guide to future returns.

**How has PAJS done after inflation?**

Over the three years to 13/11/2026 PAJS’s total return was +33.4%, or +20.5% after UK CPIH inflation. Past performance is not a guide to future returns.

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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.