CSJP.L vs. N4US.L
CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) and N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) are both Japan Equities funds - CSJP.L tracks the TOPIX TR JPY while N4US.L tracks the JPX-Nikkei 400 USD Hedged Index. Both are passively managed. Over the past 10 years, CSJP.L returned 8.59%/yr vs 16.03%/yr for N4US.L. Their correlation of 0.81 suggests significant overlap in exposure. CSJP.L charges 0.48%/yr vs 0.19%/yr for N4US.L.
Performance
CSJP.L vs. N4US.L - Performance Comparison
Loading charts...
Different Trading Currencies
CSJP.L is traded in GBp, while N4US.L is traded in USD. To make them comparable, the N4US.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSJP.L achieves a 12.42% return, which is significantly lower than N4US.L's 18.97% return. Over the past 10 years, CSJP.L has underperformed N4US.L with an annualized return of 8.59%, while N4US.L has yielded a comparatively higher 16.03% annualized return.
CSJP.L
- 1D
- -2.12%
- 1M
- -6.12%
- 6M
- 5.57%
- YTD
- 12.42%
- 1Y
- 30.00%
- 3Y*
- 15.02%
- 5Y*
- 9.21%
- 10Y*
- 8.59%
N4US.L
- 1D
- -1.85%
- 1M
- -3.94%
- 6M
- 10.74%
- YTD
- 18.97%
- 1Y
- 45.07%
- 3Y*
- 26.16%
- 5Y*
- 22.44%
- 10Y*
- 16.03%
CSJP.L vs. N4US.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc) | 12.42% | 17.48% | 9.01% | 13.68% | -7.33% | 1.76% | 12.16% | 13.94% | -8.52% | 13.00% |
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 18.97% | 20.97% | 25.93% | 29.18% | 10.71% | 12.23% | 7.53% | 14.95% | -10.75% | 12.35% |
Correlation
The correlation between CSJP.L and N4US.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.81 |
The correlation between CSJP.L and N4US.L has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CSJP.L vs. N4US.L — Risk / Return Rank
CSJP.L
N4US.L
CSJP.L vs. N4US.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) and Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L). 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.
| CSJP.L | N4US.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 5.23 | -2.38 |
| Martin ratioReturn relative to average drawdown | 8.52 | 16.75 | -8.23 |
Loading charts...
Drawdowns
CSJP.L vs. N4US.L - Drawdown Comparison
The maximum CSJP.L drawdown since its inception was -36.79%, which is greater than N4US.L's maximum drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for CSJP.L and N4US.L.
Loading charts...
Drawdown Indicators
| CSJP.L | N4US.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -28.61% | -8.18% |
Max Drawdown (1Y)Largest decline over 1 year | -10.49% | -8.58% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -20.94% | +6.62% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | -20.94% | +2.26% |
Max Drawdown (10Y)Largest decline over 10 years | -24.31% | -28.61% | +4.30% |
Current DrawdownCurrent decline from peak | -8.40% | -5.90% | -2.50% |
Average DrawdownAverage peak-to-trough decline | -9.91% | -5.12% | -4.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 2.68% | +0.83% |
Volatility
CSJP.L vs. N4US.L - Volatility Comparison
iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) has a higher volatility of 6.52% compared to Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) at 6.00%. This indicates that CSJP.L's price experiences larger fluctuations and is considered to be riskier than N4US.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CSJP.L | N4US.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 6.00% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 15.65% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.60% | 19.76% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 19.07% | -2.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.00% | 19.47% | -3.47% |
CSJP.L vs. N4US.L - Expense Ratio Comparison
CSJP.L has a 0.48% expense ratio, which is higher than N4US.L's 0.19% expense ratio.
Dividends
CSJP.L vs. N4US.L - Dividend Comparison
Neither CSJP.L nor N4US.L has paid dividends to shareholders.
Frequently Asked Questions
CSJP.L and N4US.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, N4US.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
N4US.L is cheaper with a 0.19% expense ratio, compared with 0.48% for CSJP.L.
CSJP.L tracks TOPIX TR JPY, while N4US.L tracks JPX-Nikkei 400 USD Hedged Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.48% for CSJP.L and 0.19% for N4US.L.
Find the right allocation for CSJP.L and N4US.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer