AW1I.DE vs. NS4E.DE
AW1I.DE (UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc) and NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) are both Japan Equities funds - AW1I.DE tracks the MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped while NS4E.DE tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 3 years, AW1I.DE returned 17.64%/yr vs 26.88%/yr for NS4E.DE. Their correlation of 0.81 suggests significant overlap in exposure. AW1I.DE charges 0.15%/yr vs 0.19%/yr for NS4E.DE.
Performance
AW1I.DE vs. NS4E.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AW1I.DE having a 19.55% return and NS4E.DE slightly higher at 20.29%.
AW1I.DE
- 1D
- 0.00%
- 1M
- 2.07%
- 6M
- 12.93%
- YTD
- 19.55%
- 1Y
- 39.39%
- 3Y*
- 17.64%
- 5Y*
- —
- 10Y*
- —
NS4E.DE
- 1D
- -1.03%
- 1M
- 1.65%
- 6M
- 13.30%
- YTD
- 20.29%
- 1Y
- 47.35%
- 3Y*
- 26.88%
- 5Y*
- 20.14%
- 10Y*
- 14.29%
AW1I.DE vs. NS4E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AW1I.DE UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc | 19.55% | 13.16% | 14.27% | 15.68% | -13.31% | 4.61% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.29% | 27.33% | 22.81% | 33.35% | -4.26% | 4.23% |
Correlation
The correlation between AW1I.DE and NS4E.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021 | 0.81 |
The correlation between AW1I.DE and NS4E.DE shifts across timeframes, from 0.81 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AW1I.DE vs. NS4E.DE — Risk / Return Rank
AW1I.DE
NS4E.DE
AW1I.DE vs. NS4E.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) and Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.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.
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.
| AW1I.DE | NS4E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.44 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.76 | 4.91 | -1.15 |
| Martin ratioReturn relative to average drawdown | 12.20 | 16.90 | -4.70 |
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Drawdowns
AW1I.DE vs. NS4E.DE - Drawdown Comparison
The maximum AW1I.DE drawdown since its inception was -19.66%, smaller than the maximum NS4E.DE drawdown of -35.32%. Use the drawdown chart below to compare losses from any high point for AW1I.DE and NS4E.DE.
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Drawdown Indicators
| AW1I.DE | NS4E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.66% | -35.32% | +15.66% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -9.59% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -17.12% | -20.96% | +3.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.32% | — |
Current DrawdownCurrent decline from peak | -2.56% | -2.02% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -6.47% | -8.00% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.79% | +0.45% |
Volatility
AW1I.DE vs. NS4E.DE - Volatility Comparison
UBS ETF (IE) MSCI Japan ESG Universal Low Carbon Select UCITS ETF (JPY) Acc (AW1I.DE) has a higher volatility of 6.50% compared to Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) at 5.89%. This indicates that AW1I.DE's price experiences larger fluctuations and is considered to be riskier than NS4E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AW1I.DE | NS4E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.50% | 5.89% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 16.04% | 15.50% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.00% | 19.46% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.89% | 18.19% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 18.19% | -1.30% |
AW1I.DE vs. NS4E.DE - Expense Ratio Comparison
AW1I.DE has a 0.15% expense ratio, which is lower than NS4E.DE's 0.19% 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
AW1I.DE vs. NS4E.DE - Dividend Comparison
Neither AW1I.DE nor NS4E.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, AW1I.DE and NS4E.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, AW1I.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AW1I.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for NS4E.DE.
AW1I.DE tracks MSCI Japan ESG Universal Low Carbon Select 5% Issuer Capped, while NS4E.DE tracks JPX-Nikkei Index 400. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.15% for AW1I.DE and 0.19% for NS4E.DE.
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