EMNJ.DE vs. XMK9.DE
EMNJ.DE (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) and XMK9.DE (Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged) are both Japan Equities funds - EMNJ.DE tracks the MSCI Japan ESG Enhanced Focus CTB Index while XMK9.DE tracks the MSCI Japan. Both are passively managed. Over the past 5 years, EMNJ.DE returned 8.89%/yr vs 18.78%/yr for XMK9.DE. Their correlation of 0.84 suggests significant overlap in exposure. EMNJ.DE charges 0.15%/yr vs 0.40%/yr for XMK9.DE.
Performance
EMNJ.DE vs. XMK9.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EMNJ.DE having a 15.52% return and XMK9.DE slightly higher at 16.18%.
EMNJ.DE
- 1D
- -2.46%
- 1M
- -3.71%
- 6M
- 8.72%
- YTD
- 15.52%
- 1Y
- 33.04%
- 3Y*
- 14.70%
- 5Y*
- 8.89%
- 10Y*
- —
XMK9.DE
- 1D
- -2.85%
- 1M
- -4.71%
- 6M
- 8.87%
- YTD
- 16.18%
- 1Y
- 43.02%
- 3Y*
- 24.54%
- 5Y*
- 18.78%
- 10Y*
- 13.76%
EMNJ.DE vs. XMK9.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) | 15.52% | 12.87% | 10.79% | 16.08% | -13.34% | 9.71% | 5.81% | 3.88% |
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 16.18% | 27.06% | 22.48% | 33.32% | -6.06% | 11.96% | 7.38% | 10.24% |
Correlation
The correlation between EMNJ.DE and XMK9.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.84 |
The correlation between EMNJ.DE and XMK9.DE has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
EMNJ.DE vs. XMK9.DE — Risk / Return Rank
EMNJ.DE
XMK9.DE
EMNJ.DE vs. XMK9.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 Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.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 | XMK9.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 4.40 | -1.33 |
| Martin ratioReturn relative to average drawdown | 10.24 | 14.16 | -3.92 |
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Drawdowns
EMNJ.DE vs. XMK9.DE - Drawdown Comparison
The maximum EMNJ.DE drawdown since its inception was -28.10%, smaller than the maximum XMK9.DE drawdown of -34.30%. Use the drawdown chart below to compare losses from any high point for EMNJ.DE and XMK9.DE.
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Drawdown Indicators
| EMNJ.DE | XMK9.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.10% | -34.30% | +6.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.70% | -9.73% | -0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -21.74% | +4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.91% | -21.74% | +1.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.30% | — |
Current DrawdownCurrent decline from peak | -6.35% | -6.84% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -7.62% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 3.03% | +0.19% |
Volatility
EMNJ.DE vs. XMK9.DE - Volatility Comparison
The current volatility for iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.DE) is 6.67%, while Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) has a volatility of 7.62%. This indicates that EMNJ.DE experiences smaller price fluctuations and is considered to be less risky than XMK9.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 | XMK9.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 7.62% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 16.87% | 16.74% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.67% | 20.86% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.05% | 18.94% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.28% | 18.53% | -0.25% |
EMNJ.DE vs. XMK9.DE - Expense Ratio Comparison
EMNJ.DE has a 0.15% expense ratio, which is lower than XMK9.DE's 0.40% expense ratio.
Dividends
EMNJ.DE vs. XMK9.DE - Dividend Comparison
EMNJ.DE's dividend yield for the trailing twelve months is around 1.47%, while XMK9.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNJ.DE iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 1.47% | 1.58% | 1.80% | 1.75% | 2.16% | 1.66% | 1.63% | 1.72% |
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNJ.DE and XMK9.DE have a correlation of 0.90, 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 0.40% for XMK9.DE.
EMNJ.DE tracks MSCI Japan ESG Enhanced Focus CTB Index, while XMK9.DE tracks MSCI Japan. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.15% for EMNJ.DE and 0.40% for XMK9.DE.
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