^N225 vs. EWA
^N225 (Nikkei 225) is an index, while EWA (iShares MSCI-Australia ETF) is Australia Equities fund tracking the MSCI Australia Index. Over the past 10 years, ^N225 returned 14.20%/yr vs 12.85%/yr for EWA. Their 0.21 correlation means their historical movements had little consistent relationship.
Performance
^N225 vs. EWA - Performance Comparison
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Different Trading Currencies
^N225 is traded in JPY, while EWA is traded in USD. To make them comparable, the EWA values have been converted to JPY using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^N225 achieves a 22.90% return, which is significantly higher than EWA's 14.05% return. Over the past 10 years, ^N225 has outperformed EWA with an annualized return of 14.20%, while EWA has yielded a comparatively lower 12.85% annualized return.
^N225
- 1D
- 0.00%
- 1M
- -11.29%
- 6M
- 16.02%
- YTD
- 22.90%
- 1Y
- 51.64%
- 3Y*
- 22.72%
- 5Y*
- 17.79%
- 10Y*
- 14.20%
- ALL TIME*
- 5.91%
EWA
- 1D
- -2.86%
- 1M
- 2.10%
- 6M
- 9.10%
- YTD
- 14.05%
- 1Y
- 24.79%
- 3Y*
- 15.95%
- 5Y*
- 14.96%
- 10Y*
- 12.85%
- ALL TIME*
- 6.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^N225 Nikkei 225 | ¥10.05T | ¥10.42T | ¥11.24T |
| ¥7.95B | ¥8.75B | ¥10.40B |
^N225 vs. EWA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^N225 Nikkei 225 | 22.90% | 26.18% | 19.22% | 28.24% | -9.37% | 4.91% | 16.01% | 18.20% | -12.08% | 19.10% |
EWA iShares MSCI-Australia ETF | 14.05% | 13.02% | 13.37% | 22.38% | 7.17% | 21.42% | 2.94% | 21.26% | -14.35% | 15.45% |
Correlation
The correlation between ^N225 and EWA is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2007 | 0.21 |
The correlation between ^N225 and EWA shifts across timeframes, from 0.08 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^N225 vs. EWA — Risk / Return Rank
^N225
EWA
^N225 vs. EWA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nikkei 225 (^N225) and iShares MSCI-Australia ETF (EWA). 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.
| ^N225 | EWA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.66 | +0.84 |
| Martin ratioReturn relative to average drawdown | 11.33 | 7.28 | +4.05 |
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Drawdowns
^N225 vs. EWA - Drawdown Comparison
The maximum ^N225 drawdown since its inception was -81.87%, which is greater than EWA's maximum drawdown of -73.20%. Use the drawdown chart below to compare losses from any high point for ^N225 and EWA.
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Drawdown Indicators
| ^N225 | EWA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.87% | -73.20% | -8.67% |
Max Drawdown (1Y)Largest decline over 1 year | -15.11% | -8.11% | -7.00% |
Max Drawdown (3Y)Largest decline over 3 years | -26.26% | -23.98% | -2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -26.26% | -23.98% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -31.80% | -45.02% | +13.22% |
Current DrawdownCurrent decline from peak | -14.51% | -3.83% | -10.68% |
Average DrawdownAverage peak-to-trough decline | -35.56% | -17.57% | -17.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 2.97% | +1.64% |
Volatility
^N225 vs. EWA - Volatility Comparison
Nikkei 225 (^N225) has a higher volatility of 9.26% compared to iShares MSCI-Australia ETF (EWA) at 4.59%. This indicates that ^N225's price experiences larger fluctuations and is considered to be riskier than EWA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^N225 | EWA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.26% | 4.59% | +4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 23.36% | 13.24% | +10.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.09% | 16.39% | +11.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.05% | 20.11% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 24.18% | -3.20% |
Frequently Asked Questions
^N225 and EWA have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^N225 has higher volatility (9.26%) compared to EWA (4.59%). In terms of maximum drawdown, ^N225 dropped -81.87% vs EWA's -73.20%.
^N225 currently has the higher Sharpe Ratio (1.89 vs 1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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