EMNJ.DE vs. IUS4.DE
EMNJ.DE (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) and IUS4.DE (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds from iShares - EMNJ.DE tracks the MSCI Japan ESG Enhanced Focus CTB Index while IUS4.DE tracks the MSCI Japan Small Cap. Both are passively managed. Over the past 5 years, EMNJ.DE returned 9.72%/yr vs 8.56%/yr for IUS4.DE. Their correlation of 0.87 suggests significant overlap in exposure. EMNJ.DE charges 0.15%/yr vs 0.58%/yr for IUS4.DE.
Performance
EMNJ.DE vs. IUS4.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 IUS4.DE's 18.57% 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*
- —
IUS4.DE
- 1D
- -0.77%
- 1M
- 2.81%
- 6M
- 13.89%
- YTD
- 18.57%
- 1Y
- 33.19%
- 3Y*
- 16.91%
- 5Y*
- 8.56%
- 10Y*
- 7.62%
EMNJ.DE vs. IUS4.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% |
IUS4.DE iShares MSCI Japan Small Cap UCITS ETF (Dist) | 18.57% | 15.97% | 9.46% | 9.42% | -7.68% | 5.35% | -2.08% | 12.34% |
Correlation
The correlation between EMNJ.DE and IUS4.DE is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.87 |
The correlation between EMNJ.DE and IUS4.DE has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
EMNJ.DE vs. IUS4.DE — Risk / Return Rank
EMNJ.DE
IUS4.DE
EMNJ.DE vs. IUS4.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 Small Cap UCITS ETF (Dist) (IUS4.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 | IUS4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 3.27 | +0.44 |
| Martin ratioReturn relative to average drawdown | 12.48 | 11.26 | +1.23 |
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Drawdowns
EMNJ.DE vs. IUS4.DE - Drawdown Comparison
The maximum EMNJ.DE drawdown since its inception was -28.10%, smaller than the maximum IUS4.DE drawdown of -51.61%. Use the drawdown chart below to compare losses from any high point for EMNJ.DE and IUS4.DE.
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Drawdown Indicators
| EMNJ.DE | IUS4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.10% | -51.61% | +23.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.70% | -10.11% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -12.92% | -3.99% |
Max Drawdown (5Y)Largest decline over 5 years | -19.91% | -21.46% | +1.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.62% | — |
Current DrawdownCurrent decline from peak | -2.74% | -2.30% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -15.02% | +8.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.94% | +0.25% |
Volatility
EMNJ.DE vs. IUS4.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 Small Cap UCITS ETF (Dist) (IUS4.DE) at 4.62%. This indicates that EMNJ.DE's price experiences larger fluctuations and is considered to be riskier than IUS4.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 | IUS4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 4.62% | +2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 16.64% | 14.05% | +2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.49% | 16.56% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 14.97% | +2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.26% | 15.94% | +2.32% |
EMNJ.DE vs. IUS4.DE - Expense Ratio Comparison
EMNJ.DE has a 0.15% expense ratio, which is lower than IUS4.DE's 0.58% expense ratio.
Dividends
EMNJ.DE vs. IUS4.DE - Dividend Comparison
EMNJ.DE's dividend yield for the trailing twelve months is around 1.42%, more than IUS4.DE's 0.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
IUS4.DE iShares MSCI Japan Small Cap UCITS ETF (Dist) | 0.85% | 1.88% | 1.70% | 1.77% | 2.10% | 1.47% | 1.60% | 1.45% | 1.41% | 1.31% | 1.15% | 0.70% |
Frequently Asked Questions
EMNJ.DE and IUS4.DE have a correlation of 0.79, 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 0.58% for IUS4.DE.
EMNJ.DE tracks MSCI Japan ESG Enhanced Focus CTB Index, while IUS4.DE tracks MSCI Japan Small Cap. Their fees differ too: 0.15% for EMNJ.DE and 0.58% for IUS4.DE.
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