ETLR.DE vs. EUNN.DE
ETLR.DE (L&G Japan Equity UCITS ETF) and EUNN.DE (iShares Core MSCI Japan IMI UCITS ETF) are both Japan Equities funds - ETLR.DE tracks the Solactive Core Japan Large & Mid Cap while EUNN.DE tracks the MSCI Japan IMI. Both are passively managed. Over the past 5 years, ETLR.DE returned 9.93%/yr vs 9.85%/yr for EUNN.DE. With a 0.98 correlation, they move nearly in lockstep. ETLR.DE charges 0.10%/yr vs 0.12%/yr for EUNN.DE.
Performance
ETLR.DE vs. EUNN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLR.DE achieves a 15.36% return, which is significantly lower than EUNN.DE's 16.53% return.
ETLR.DE
- 1D
- -0.30%
- 1M
- 3.65%
- YTD
- 15.36%
- 6M
- 15.65%
- 1Y
- 29.68%
- 3Y*
- 15.30%
- 5Y*
- 9.93%
- 10Y*
- —
EUNN.DE
- 1D
- -0.27%
- 1M
- 3.50%
- YTD
- 16.53%
- 6M
- 16.81%
- 1Y
- 31.22%
- 3Y*
- 15.47%
- 5Y*
- 9.85%
- 10Y*
- 9.05%
ETLR.DE vs. EUNN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETLR.DE L&G Japan Equity UCITS ETF | 15.36% | 12.36% | 14.84% | 16.06% | -11.99% | 10.00% | 5.41% | 16.57% |
EUNN.DE iShares Core MSCI Japan IMI UCITS ETF | 16.53% | 13.46% | 12.90% | 15.16% | -11.47% | 9.25% | 4.10% | 16.20% |
Correlation
The correlation between ETLR.DE and EUNN.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2019 | 0.98 |
The correlation between ETLR.DE and EUNN.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
ETLR.DE vs. EUNN.DE — Risk / Return Rank
ETLR.DE
EUNN.DE
ETLR.DE vs. EUNN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Japan Equity UCITS ETF (ETLR.DE) and iShares Core MSCI Japan IMI UCITS ETF (EUNN.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.
| ETLR.DE | EUNN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 3.14 | -0.40 |
| Martin ratioReturn relative to average drawdown | 8.92 | 10.51 | -1.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETLR.DE | EUNN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.67 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.61 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.53 | +0.07 |
Drawdowns
ETLR.DE vs. EUNN.DE - Drawdown Comparison
The maximum ETLR.DE drawdown since its inception was -27.67%, roughly equal to the maximum EUNN.DE drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for ETLR.DE and EUNN.DE.
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Drawdown Indicators
| ETLR.DE | EUNN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.67% | -28.55% | +0.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -9.58% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -15.81% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -18.73% | -19.41% | +0.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.55% | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.27% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -6.85% | +1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 2.86% | +0.34% |
Volatility
ETLR.DE vs. EUNN.DE - Volatility Comparison
L&G Japan Equity UCITS ETF (ETLR.DE) and iShares Core MSCI Japan IMI UCITS ETF (EUNN.DE) have volatilities of 3.19% and 3.16%, 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.
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Volatility by Period
| ETLR.DE | EUNN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.16% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.63% | 14.53% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.30% | 17.97% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 16.04% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 16.08% | +0.76% |
ETLR.DE vs. EUNN.DE - Expense Ratio Comparison
ETLR.DE has a 0.10% expense ratio, which is lower than EUNN.DE's 0.12% 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
ETLR.DE vs. EUNN.DE - Dividend Comparison
Neither ETLR.DE nor EUNN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, ETLR.DE and EUNN.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETLR.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLR.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for EUNN.DE.
ETLR.DE tracks Solactive Core Japan Large & Mid Cap, while EUNN.DE tracks MSCI Japan IMI. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.10% for ETLR.DE and 0.12% for EUNN.DE.
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