EXX7.DE vs. ZPDJ.DE

Last updated Jun 5, 2026

EXX7.DE (iShares Nikkei 225 UCITS ETF (DE)) and ZPDJ.DE (SPDR MSCI Japan UCITS ETF) are both Japan Equities funds - EXX7.DE tracks the Nikkei 225® while ZPDJ.DE tracks the MSCI Japan. Both are passively managed. Over the past 10 years, EXX7.DE returned 11.53%/yr vs 9.18%/yr for ZPDJ.DE. Their correlation of 0.93 suggests significant overlap in exposure. EXX7.DE charges 0.51%/yr vs 0.12%/yr for ZPDJ.DE.

Performance

EXX7.DE vs. ZPDJ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Nikkei 225 UCITS ETF (DE) (EXX7.DE) and SPDR MSCI Japan UCITS ETF (ZPDJ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXX7.DE achieves a 31.92% return, which is significantly higher than ZPDJ.DE's 16.79% return. Over the past 10 years, EXX7.DE has outperformed ZPDJ.DE with an annualized return of 11.53%, while ZPDJ.DE has yielded a comparatively lower 9.18% annualized return.

EXX7.DE

• 1D: -1.45%
• 1M: 7.58%
• YTD: 31.92%
• 6M: 30.07%
• 1Y: 59.87%
• 3Y*: 20.28%
• 5Y*: 11.91%
• 10Y*: 11.53%

ZPDJ.DE

• 1D: -0.45%
• 1M: 3.68%
• YTD: 16.79%
• 6M: 16.66%
• 1Y: 31.89%
• 3Y*: 15.52%
• 5Y*: 10.06%
• 10Y*: 9.18%

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

EXX7.DE vs. ZPDJ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EXX7.DE iShares Nikkei 225 UCITS ETF (DE)	31.92%	15.64%	13.98%	17.46%	-15.88%	3.04%	13.62%	24.16%	-5.34%	10.10%
ZPDJ.DE SPDR MSCI Japan UCITS ETF	16.79%	12.60%	13.75%	16.51%	-12.51%	9.97%	5.16%	21.83%	-9.81%	9.06%

Correlation

The correlation between EXX7.DE and ZPDJ.DE is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015	0.93

The correlation between EXX7.DE and ZPDJ.DE has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

EXX7.DE vs. ZPDJ.DE — Risk / Return Rank

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

EXX7.DE

EXX7.DE Risk / Return Rank: 78
EXX7.DE Sharpe Ratio Rank: 78
EXX7.DE Sortino Ratio Rank: 82
EXX7.DE Omega Ratio Rank: 72
EXX7.DE Calmar Ratio Rank: 84
EXX7.DE Martin Ratio Rank: 74

ZPDJ.DE

ZPDJ.DE Risk / Return Rank: 54
ZPDJ.DE Sharpe Ratio Rank: 48
ZPDJ.DE Sortino Ratio Rank: 52
ZPDJ.DE Omega Ratio Rank: 52
ZPDJ.DE Calmar Ratio Rank: 63
ZPDJ.DE Martin Ratio Rank: 57

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.

EXX7.DE vs. ZPDJ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nikkei 225 UCITS ETF (DE) (EXX7.DE) and SPDR MSCI Japan UCITS ETF (ZPDJ.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.

	EXX7.DE	ZPDJ.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.64	+0.86
Sortino ratio: Return per unit of downside risk	3.61	2.50	+1.11
Omega ratio: Gain probability vs. loss probability	1.42	1.32	+0.10
Calmar ratio: Return relative to maximum drawdown	4.52	3.06	+1.46
Martin ratio: Return relative to average drawdown	13.72	9.86	+3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXX7.DE vs. ZPDJ.DE - Sharpe Ratio Comparison

The current EXX7.DE Sharpe Ratio is 2.50, which is higher than the ZPDJ.DE Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of EXX7.DE and ZPDJ.DE, 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

	EXX7.DE	ZPDJ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	1.64	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.60	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.56	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.44	-0.05

Drawdowns

EXX7.DE vs. ZPDJ.DE - Drawdown Comparison

The maximum EXX7.DE drawdown since its inception was -50.57%, which is greater than ZPDJ.DE's maximum drawdown of -28.06%. Use the drawdown chart below to compare losses from any high point for EXX7.DE and ZPDJ.DE.

Drawdown Indicators

	EXX7.DE	ZPDJ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-50.57%	-28.06%	-22.51%
Max Drawdown (1Y) Largest decline over 1 year	-12.97%	-9.98%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.63%	-16.90%	-3.73%
Max Drawdown (5Y) Largest decline over 5 years	-21.40%	-19.10%	-2.30%
Max Drawdown (10Y) Largest decline over 10 years	-29.83%	-28.06%	-1.77%
Current Drawdown Current decline from peak	-1.45%	-0.45%	-1.00%
Average Drawdown Average peak-to-trough decline	-12.03%	-5.93%	-6.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	3.10%	+1.18%

Volatility

EXX7.DE vs. ZPDJ.DE - Volatility Comparison

iShares Nikkei 225 UCITS ETF (DE) (EXX7.DE) has a higher volatility of 6.61% compared to SPDR MSCI Japan UCITS ETF (ZPDJ.DE) at 3.60%. This indicates that EXX7.DE's price experiences larger fluctuations and is considered to be riskier than ZPDJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXX7.DE	ZPDJ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	3.60%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	18.46%	14.86%	+3.60%
Volatility (1Y) Calculated over the trailing 1-year period	23.46%	18.62%	+4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.55%	16.57%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	16.40%	+1.32%

EXX7.DE vs. ZPDJ.DE - Expense Ratio Comparison

EXX7.DE has a 0.51% expense ratio, which is higher than ZPDJ.DE's 0.12% expense ratio.

Dividends

EXX7.DE vs. ZPDJ.DE - Dividend Comparison

EXX7.DE's dividend yield for the trailing twelve months is around 0.77%, while ZPDJ.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXX7.DE iShares Nikkei 225 UCITS ETF (DE)	0.77%	0.92%	0.94%	1.17%	1.31%	0.81%	1.00%	1.21%	0.74%	1.19%	1.35%	1.29%
ZPDJ.DE SPDR MSCI Japan UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EXX7.DE and ZPDJ.DE in my portfolio?

EXX7.DE and ZPDJ.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EXX7.DE or ZPDJ.DE?

On fees, ZPDJ.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EXX7.DE or ZPDJ.DE?

ZPDJ.DE is cheaper with a 0.12% expense ratio, compared with 0.51% for EXX7.DE.

What is the main difference between EXX7.DE and ZPDJ.DE?

EXX7.DE tracks Nikkei 225®, while ZPDJ.DE tracks MSCI Japan. They also come from different issuers: iShares and State Street. Their fees differ too: 0.51% for EXX7.DE and 0.12% for ZPDJ.DE.