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CUKS.L vs. XDJP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CUKS.L vs. XDJP.L

Last updated Jun 5, 2026

CUKS.L (iShares MSCI UK Small Cap UCITS ETF (Acc)) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both exchange-traded funds - CUKS.L is a Europe Equities fund tracking the FTSE Small Cap Ex Invest Trust TR GBP, while XDJP.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 10 years, CUKS.L returned 4.74%/yr vs 13.14%/yr for XDJP.L. At a 0.41 correlation, their price movements are largely independent. CUKS.L charges 0.58%/yr vs 0.09%/yr for XDJP.L.

Performance

CUKS.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CUKS.L achieves a 3.10% return, which is significantly lower than XDJP.L's 31.98% return. Over the past 10 years, CUKS.L has underperformed XDJP.L with an annualized return of 4.74%, while XDJP.L has yielded a comparatively higher 13.14% annualized return.

CUKS.L

1D
0.83%
1M
3.18%
YTD
3.10%
6M
5.37%
1Y
10.62%
3Y*
9.93%
5Y*
1.23%
10Y*
4.74%

XDJP.L

1D
-1.35%
1M
10.95%
YTD
31.98%
6M
29.24%
1Y
64.30%
3Y*
20.95%
5Y*
12.61%
10Y*
13.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CUKS.L vs. XDJP.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CUKS.L
iShares MSCI UK Small Cap UCITS ETF (Acc)		3.10%14.90%5.74%9.76%-22.81%14.33%-6.24%29.73%-15.36%20.13%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		31.98%21.04%9.67%15.52%-10.26%-3.79%21.77%16.58%-3.53%14.73%

Correlation

The correlation between CUKS.L and XDJP.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.46

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.46

Correlation (10Y)
Calculated over the trailing 10-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Mar 19, 2013

0.41

CUKS.L vs. XDJP.L - Sectors Allocation Comparison

Sectors
CUKS.L
XDJP.L

Financial Services

24.0%
3.1%

Industrials

21.1%
19.4%

Consumer Cyclical

15.3%
16.9%

Real Estate

9.0%
1.5%

Basic Materials

6.6%
4.3%

Communication Services

6.2%
12.4%

Technology

4.2%
31.9%

Consumer Defensive

4.1%
3.3%

Energy

3.3%
0.3%

Healthcare

3.3%
6.7%

Utilities

3.0%
0.2%

Financial Services

CUKS.L
24.0%
XDJP.L
3.1%

Industrials

CUKS.L
21.1%
XDJP.L
19.4%

Consumer Cyclical

CUKS.L
15.3%
XDJP.L
16.9%

Real Estate

CUKS.L
9.0%
XDJP.L
1.5%

Basic Materials

CUKS.L
6.6%
XDJP.L
4.3%

Communication Services

CUKS.L
6.2%
XDJP.L
12.4%

Technology

CUKS.L
4.2%
XDJP.L
31.9%

Consumer Defensive

CUKS.L
4.1%
XDJP.L
3.3%

Energy

CUKS.L
3.3%
XDJP.L
0.3%

Healthcare

CUKS.L
3.3%
XDJP.L
6.7%

Utilities

CUKS.L
3.0%
XDJP.L
0.2%

Compare stocks, funds, or ETFs

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iShares MSCI UK Small Cap UCITS ETF (Acc)

Xtrackers Nikkei 225 UCITS ETF 1D

Often compared with CUKS.L:
CUKS.L vs. VMIG.LCUKS.L vs. MIDD.LCUKS.L vs. IITU.LCUKS.L vs. AEICUKS.L vs. CUKX.LCUKS.L vs. VUKG.LCUKS.L vs. AVUV
Often compared with XDJP.L:
XDJP.L vs. CNKY.LXDJP.L vs. VJPN.LXDJP.L vs. DXJXDJP.L vs. DXJG.LXDJP.L vs. PRIJ.LXDJP.L vs. CSJP.LXDJP.L vs. JPJP.L

Return for Risk

CUKS.L vs. XDJP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CUKS.L
CUKS.L Risk / Return Rank: 2222
Overall Rank
CUKS.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
CUKS.L Sortino Ratio Rank: 2323
Sortino Ratio Rank
CUKS.L Omega Ratio Rank: 2323
Omega Ratio Rank
CUKS.L Calmar Ratio Rank: 2020
Calmar Ratio Rank
CUKS.L Martin Ratio Rank: 2323
Martin Ratio Rank
XDJP.L
XDJP.L Risk / Return Rank: 8484
Overall Rank
XDJP.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
XDJP.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
XDJP.L Omega Ratio Rank: 8181
Omega Ratio Rank
XDJP.L Calmar Ratio Rank: 8686
Calmar Ratio Rank
XDJP.L Martin Ratio Rank: 7777
Martin Ratio Rank
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.

CUKS.L vs. XDJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.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.

CUKS.LXDJP.LDifference
Sharpe ratioReturn per unit of total volatility
0.79
2.85

-2.06

Sortino ratioReturn per unit of downside risk
1.21
3.94

-2.73

Omega ratioGain probability vs. loss probability

1.15

1.48

-0.32

Calmar ratioReturn relative to maximum drawdown

0.86

4.77

-3.91

Martin ratioReturn relative to average drawdown

2.79

14.50

-11.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUKS.L vs. XDJP.L - Sharpe Ratio Comparison

The current CUKS.L Sharpe Ratio is 0.79, which is lower than the XDJP.L Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of CUKS.L and XDJP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CUKS.LXDJP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.79

2.85

-2.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.08

0.71

-0.63

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.78

-0.50

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.75

-0.28

Drawdowns

CUKS.L vs. XDJP.L - Drawdown Comparison

The maximum CUKS.L drawdown since its inception was -42.42%, which is greater than XDJP.L's maximum drawdown of -23.69%. Use the drawdown chart below to compare losses from any high point for CUKS.L and XDJP.L.

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Drawdown Indicators

CUKS.LXDJP.LDifference

Max Drawdown

Largest peak-to-trough decline

-42.42%

-23.69%

-18.73%

Max Drawdown (1Y)

Largest decline over 1 year

-12.28%

-13.40%

+1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-16.88%

-18.82%

+1.94%

Max Drawdown (5Y)

Largest decline over 5 years

-35.35%

-20.61%

-14.74%

Max Drawdown (10Y)

Largest decline over 10 years

-42.42%

-23.69%

-18.73%

Current Drawdown

Current decline from peak

-3.63%

-1.35%

-2.28%

Average Drawdown

Average peak-to-trough decline

-9.28%

-6.79%

-2.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.80%

4.42%

-0.62%

Volatility

CUKS.L vs. XDJP.L - Volatility Comparison

The current volatility for iShares MSCI UK Small Cap UCITS ETF (Acc) (CUKS.L) is 4.14%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 6.75%. This indicates that CUKS.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CUKS.LXDJP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.14%

6.75%

-2.61%

Volatility (6M)

Calculated over the trailing 6-month period

11.09%

17.68%

-6.59%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

22.44%

-9.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.99%

17.72%

-1.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.02%

17.63%

-0.61%

CUKS.L vs. XDJP.L - Expense Ratio Comparison

CUKS.L has a 0.58% expense ratio, which is higher than XDJP.L's 0.09% expense ratio.

Dividends

CUKS.L vs. XDJP.L - Dividend Comparison

CUKS.L has not paid dividends to shareholders, while XDJP.L's dividend yield for the trailing twelve months is around 1.04%.

PositionTTM20252024202320222021202020192018201720162015
CUKS.L
iShares MSCI UK Small Cap UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		1.04%1.33%1.41%1.59%2.47%1.20%1.11%1.13%1.24%0.72%0.83%0.16%

Frequently Asked Questions

CUKS.L and XDJP.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDJP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDJP.L is cheaper with a 0.09% expense ratio, compared with 0.58% for CUKS.L.

CUKS.L is categorized as Europe Equities, while XDJP.L is Japan Equities. CUKS.L tracks FTSE Small Cap Ex Invest Trust TR GBP, while XDJP.L tracks TOPIX TR JPY. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.58% for CUKS.L and 0.09% for XDJP.L.

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