CUS1.L vs. XDNS.L

Last updated Jun 5, 2026

CUS1.L (iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc)) and XDNS.L (Xtrackers MSCI Japan ESG Screened UCITS ETF 1D) are both exchange-traded funds - CUS1.L is a Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while XDNS.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 10 years, CUS1.L returned 11.83%/yr vs 9.68%/yr for XDNS.L. A 0.52 correlation means they provide meaningful diversification when combined. CUS1.L charges 0.43%/yr vs 0.15%/yr for XDNS.L.

Performance

CUS1.L vs. XDNS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) and Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CUS1.L having a 15.99% return and XDNS.L slightly lower at 15.48%. Over the past 10 years, CUS1.L has outperformed XDNS.L with an annualized return of 11.83%, while XDNS.L has yielded a comparatively lower 9.68% annualized return.

CUS1.L

• 1D: 1.06%
• 1M: 4.90%
• YTD: 15.99%
• 6M: 15.37%
• 1Y: 35.71%
• 3Y*: 13.68%
• 5Y*: 7.82%
• 10Y*: 11.83%

XDNS.L

• 1D: -0.57%
• 1M: 6.27%
• YTD: 15.48%
• 6M: 14.59%
• 1Y: 32.42%
• 3Y*: 14.60%
• 5Y*: 9.38%
• 10Y*: 9.68%

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

CUS1.L vs. XDNS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CUS1.L iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc)	15.99%	2.68%	11.54%	11.30%	-7.26%	19.95%	14.64%	22.34%	-6.43%	6.42%
XDNS.L Xtrackers MSCI Japan ESG Screened UCITS ETF 1D	15.48%	16.58%	9.87%	11.58%	-7.42%	1.12%	12.12%	14.51%	-10.22%	14.74%

Correlation

The correlation between CUS1.L and XDNS.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Aug 18, 2015	0.52

The correlation between CUS1.L and XDNS.L shifts across timeframes, from 0.38 (3 years) to 0.52 (all time), reflecting how their relationship changes across market environments.

CUS1.L vs. XDNS.L - Sectors Allocation Comparison

Sectors	CUS1.L	XDNS.L
Industrials	19.6%	25.8%
Technology	16.8%	19.8%
Financial Services	15.1%	18.5%
Healthcare	12.6%	7.0%
Consumer Cyclical	10.5%	11.3%
Real Estate	7.0%	2.5%
Energy	5.6%	-
Consumer Defensive	3.9%	2.6%
Basic Materials	3.9%	3.2%
Utilities	2.7%	0.6%
Communication Services	2.5%	8.8%

Return for Risk

CUS1.L vs. XDNS.L — Risk / Return Rank

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

CUS1.L

CUS1.L Risk / Return Rank: 78
CUS1.L Sharpe Ratio Rank: 75
CUS1.L Sortino Ratio Rank: 73
CUS1.L Omega Ratio Rank: 70
CUS1.L Calmar Ratio Rank: 90
CUS1.L Martin Ratio Rank: 84

XDNS.L

XDNS.L Risk / Return Rank: 67
XDNS.L Sharpe Ratio Rank: 64
XDNS.L Sortino Ratio Rank: 63
XDNS.L Omega Ratio Rank: 65
XDNS.L Calmar Ratio Rank: 76
XDNS.L Martin Ratio Rank: 64

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.

CUS1.L vs. XDNS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) and Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.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.

	CUS1.L	XDNS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.09	+0.31
Sortino ratio: Return per unit of downside risk	3.25	2.91	+0.34
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	5.52	3.81	+1.71
Martin ratio: Return relative to average drawdown	17.02	11.43	+5.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUS1.L vs. XDNS.L - Sharpe Ratio Comparison

The current CUS1.L Sharpe Ratio is 2.40, which is comparable to the XDNS.L Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of CUS1.L and XDNS.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.

Sharpe Ratios by Period

	CUS1.L	XDNS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.09	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.68	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.66	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.60	+0.11

Drawdowns

CUS1.L vs. XDNS.L - Drawdown Comparison

The maximum CUS1.L drawdown since its inception was -35.26%, which is greater than XDNS.L's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for CUS1.L and XDNS.L.

Drawdown Indicators

	CUS1.L	XDNS.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.26%	-24.75%	-10.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-10.70%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	-28.89%	-14.32%	-14.57%
Max Drawdown (5Y) Largest decline over 5 years	-28.89%	-19.29%	-9.60%
Max Drawdown (10Y) Largest decline over 10 years	-35.26%	-24.75%	-10.51%
Current Drawdown Current decline from peak	0.00%	-0.57%	+0.57%
Average Drawdown Average peak-to-trough decline	-6.38%	-5.35%	-1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	4.04%	-1.95%

Volatility

CUS1.L vs. XDNS.L - Volatility Comparison

iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) and Xtrackers MSCI Japan ESG Screened UCITS ETF 1D (XDNS.L) have volatilities of 3.89% and 3.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUS1.L	XDNS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.89%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	14.64%	-4.67%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	19.56%	-4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	17.83%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	17.31%	+2.25%

CUS1.L vs. XDNS.L - Expense Ratio Comparison

CUS1.L has a 0.43% expense ratio, which is higher than XDNS.L's 0.15% expense ratio.

Dividends

CUS1.L vs. XDNS.L - Dividend Comparison

CUS1.L has not paid dividends to shareholders, while XDNS.L's dividend yield for the trailing twelve months is around 1.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CUS1.L iShares MSCI USA Small Cap ESG Enhanced 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%
XDNS.L Xtrackers MSCI Japan ESG Screened UCITS ETF 1D	1.43%	1.63%	1.65%	1.81%	2.83%	1.46%	1.79%	1.77%	1.20%	1.97%	0.64%

Frequently Asked Questions

Can I hold both CUS1.L and XDNS.L in my portfolio?

CUS1.L and XDNS.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CUS1.L or XDNS.L?

On fees, XDNS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CUS1.L or XDNS.L?

XDNS.L is cheaper with a 0.15% expense ratio, compared with 0.43% for CUS1.L.

What is the main difference between CUS1.L and XDNS.L?

CUS1.L is categorized as Small Cap Blend Equities, while XDNS.L is Japan Equities. CUS1.L tracks Russell 2000 TR USD, while XDNS.L tracks TOPIX TR JPY. They also come from different issuers: iShares and DWS. Their fees differ too: 0.43% for CUS1.L and 0.15% for XDNS.L.