EMNJ.DE vs. 36B4.DE
EMNJ.DE (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) and 36B4.DE (iShares MSCI Japan SRI UCITS ETF USD Dist) are both Japan Equities funds from iShares - EMNJ.DE tracks the MSCI Japan ESG Enhanced Focus CTB Index while 36B4.DE tracks the MSCI Japan SRI Select Reduced Fossil Fuels. Both are passively managed. Over the past 5 years, EMNJ.DE returned 9.72%/yr vs 4.99%/yr for 36B4.DE. Their correlation of 0.94 suggests significant overlap in exposure. EMNJ.DE charges 0.15%/yr vs 0.20%/yr for 36B4.DE.
Performance
EMNJ.DE vs. 36B4.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNJ.DE achieves a 19.97% return, which is significantly higher than 36B4.DE's 9.48% return.
EMNJ.DE
- 1D
- -0.76%
- 1M
- 1.81%
- 6M
- 13.73%
- YTD
- 19.97%
- 1Y
- 39.88%
- 3Y*
- 16.68%
- 5Y*
- 9.72%
- 10Y*
- —
36B4.DE
- 1D
- -1.25%
- 1M
- 5.00%
- 6M
- 5.52%
- YTD
- 9.48%
- 1Y
- 22.17%
- 3Y*
- 9.80%
- 5Y*
- 4.99%
- 10Y*
- —
EMNJ.DE vs. 36B4.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNJ.DE iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 19.97% | 12.87% | 10.79% | 16.08% | -13.34% | 9.71% | 5.81% | 3.88% |
36B4.DE iShares MSCI Japan SRI UCITS ETF USD Dist | 9.48% | 6.64% | 9.02% | 9.56% | -13.77% | 9.87% | 6.38% | 18.44% |
Correlation
The correlation between EMNJ.DE and 36B4.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.94 |
The correlation between EMNJ.DE and 36B4.DE has been stable across timeframes, ranging from 0.84 to 0.94 - a consistent structural relationship.
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Return for Risk
EMNJ.DE vs. 36B4.DE — Risk / Return Rank
EMNJ.DE
36B4.DE
EMNJ.DE vs. 36B4.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.DE) and iShares MSCI Japan SRI UCITS ETF USD Dist (36B4.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.
| EMNJ.DE | 36B4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.22 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 2.04 | +1.67 |
| Martin ratioReturn relative to average drawdown | 12.48 | 5.90 | +6.59 |
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Drawdowns
EMNJ.DE vs. 36B4.DE - Drawdown Comparison
The maximum EMNJ.DE drawdown since its inception was -28.10%, roughly equal to the maximum 36B4.DE drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for EMNJ.DE and 36B4.DE.
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Drawdown Indicators
| EMNJ.DE | 36B4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.10% | -26.98% | -1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -10.70% | -10.82% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -15.67% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -19.91% | -21.57% | +1.66% |
Current DrawdownCurrent decline from peak | -2.74% | -1.25% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -7.09% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 3.75% | -0.56% |
Volatility
EMNJ.DE vs. 36B4.DE - Volatility Comparison
iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.DE) has a higher volatility of 6.67% compared to iShares MSCI Japan SRI UCITS ETF USD Dist (36B4.DE) at 5.12%. This indicates that EMNJ.DE's price experiences larger fluctuations and is considered to be riskier than 36B4.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNJ.DE | 36B4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 5.12% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 16.64% | 14.23% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.49% | 18.43% | +2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 16.34% | +0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 17.26% | +1.00% |
EMNJ.DE vs. 36B4.DE - Expense Ratio Comparison
EMNJ.DE has a 0.15% expense ratio, which is lower than 36B4.DE's 0.20% 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
EMNJ.DE vs. 36B4.DE - Dividend Comparison
EMNJ.DE's dividend yield for the trailing twelve months is around 1.42%, less than 36B4.DE's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36B4.DE iShares MSCI Japan SRI UCITS ETF USD Dist | 1.47% | 1.46% | 1.38% | 1.81% | 2.45% | 1.54% | 1.60% | 0.81% |
EMNJ.DE iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 1.42% | 1.58% | 1.80% | 1.75% | 2.16% | 1.66% | 1.63% | 1.72% |
Frequently Asked Questions
EMNJ.DE and 36B4.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNJ.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNJ.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for 36B4.DE.
EMNJ.DE tracks MSCI Japan ESG Enhanced Focus CTB Index, while 36B4.DE tracks MSCI Japan SRI Select Reduced Fossil Fuels. Their fees differ too: 0.15% for EMNJ.DE and 0.20% for 36B4.DE.
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