AW15.DE vs. JP40.DE

Last updated Jun 5, 2026

AW15.DE (UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (JPY) Acc) and JP40.DE (Amundi JPX Nikkei 400 UCITS ETF EUR) are both Japan Equities funds - AW15.DE tracks the MSCI Japan Climate Paris Aligned while JP40.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 5 years, AW15.DE returned 3.15%/yr vs 9.88%/yr for JP40.DE. Their correlation of 0.88 suggests significant overlap in exposure. AW15.DE charges 0.12%/yr vs 0.18%/yr for JP40.DE.

Performance

AW15.DE vs. JP40.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (JPY) Acc (AW15.DE) and Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AW15.DE achieves a 8.65% return, which is significantly lower than JP40.DE's 16.15% return.

AW15.DE

• 1D: -1.40%
• 1M: 0.24%
• YTD: 8.65%
• 6M: 7.80%
• 1Y: 22.36%
• 3Y*: 6.95%
• 5Y*: 3.15%
• 10Y*: —

JP40.DE

• 1D: -0.23%
• 1M: 2.36%
• YTD: 16.15%
• 6M: 16.10%
• 1Y: 29.23%
• 3Y*: 14.99%
• 5Y*: 9.88%
• 10Y*: 8.93%

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

AW15.DE vs. JP40.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AW15.DE UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (JPY) Acc	8.65%	10.45%	2.67%	12.34%	-19.88%	2.52%
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR	16.15%	12.78%	13.18%	15.77%	-11.05%	2.09%

Correlation

The correlation between AW15.DE and JP40.DE 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	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021	0.88

The correlation between AW15.DE and JP40.DE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

Return for Risk

AW15.DE vs. JP40.DE — Risk / Return Rank

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

AW15.DE

AW15.DE Risk / Return Rank: 35
AW15.DE Sharpe Ratio Rank: 32
AW15.DE Sortino Ratio Rank: 35
AW15.DE Omega Ratio Rank: 32
AW15.DE Calmar Ratio Rank: 39
AW15.DE Martin Ratio Rank: 39

JP40.DE

JP40.DE Risk / Return Rank: 53
JP40.DE Sharpe Ratio Rank: 46
JP40.DE Sortino Ratio Rank: 50
JP40.DE Omega Ratio Rank: 50
JP40.DE Calmar Ratio Rank: 62
JP40.DE Martin Ratio Rank: 58

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.

AW15.DE vs. JP40.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (JPY) Acc (AW15.DE) and Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE). 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.

	AW15.DE	JP40.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.58	-0.47
Sortino ratio: Return per unit of downside risk	1.80	2.41	-0.60
Omega ratio: Gain probability vs. loss probability	1.21	1.31	-0.10
Calmar ratio: Return relative to maximum drawdown	1.87	3.03	-1.16
Martin ratio: Return relative to average drawdown	6.07	10.04	-3.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AW15.DE vs. JP40.DE - Sharpe Ratio Comparison

The current AW15.DE Sharpe Ratio is 1.11, which is comparable to the JP40.DE Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of AW15.DE and JP40.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AW15.DE	JP40.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.58	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.59	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.46	-0.31

Drawdowns

AW15.DE vs. JP40.DE - Drawdown Comparison

The maximum AW15.DE drawdown since its inception was -27.14%, roughly equal to the maximum JP40.DE drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for AW15.DE and JP40.DE.

Drawdown Indicators

	AW15.DE	JP40.DE	Difference
Max Drawdown Largest peak-to-trough decline	-27.14%	-28.51%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-11.48%	-9.43%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-17.61%	-15.82%	-1.79%
Max Drawdown (5Y) Largest decline over 5 years	-27.14%	-19.66%	-7.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.51%	—
Current Drawdown Current decline from peak	-1.40%	-0.23%	-1.17%
Average Drawdown Average peak-to-trough decline	-12.19%	-6.10%	-6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.85%	+0.70%

Volatility

AW15.DE vs. JP40.DE - Volatility Comparison

UBS ETF (IE) MSCI Japan Climate Paris Aligned UCITS ETF (JPY) Acc (AW15.DE) has a higher volatility of 4.43% compared to Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE) at 3.29%. This indicates that AW15.DE's price experiences larger fluctuations and is considered to be riskier than JP40.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AW15.DE	JP40.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	3.29%	+1.14%
Volatility (6M) Calculated over the trailing 6-month period	15.05%	14.70%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	19.33%	18.10%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.47%	16.56%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	16.50%	-0.08%

AW15.DE vs. JP40.DE - Expense Ratio Comparison

AW15.DE has a 0.12% expense ratio, which is lower than JP40.DE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AW15.DE vs. JP40.DE - Dividend Comparison

Neither AW15.DE nor JP40.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AW15.DE and JP40.DE in my portfolio?

AW15.DE and JP40.DE 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.

Which ETF is better, AW15.DE or JP40.DE?

On fees, AW15.DE 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, AW15.DE or JP40.DE?

AW15.DE is cheaper with a 0.12% expense ratio, compared with 0.18% for JP40.DE.

What is the main difference between AW15.DE and JP40.DE?

AW15.DE tracks MSCI Japan Climate Paris Aligned, while JP40.DE tracks JPX-Nikkei 400. They also come from different issuers: UBS and Amundi. Their fees differ too: 0.12% for AW15.DE and 0.18% for JP40.DE.