HMJD.L vs. XDJP.L

Last updated Jul 16, 2026

HMJD.L (HSBC MSCI JAPAN UCITS ETF) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both Japan Equities funds - HMJD.L tracks the HSBC MSCI JAPAN UCITS ETF while XDJP.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 10 years, HMJD.L returned 9.30%/yr vs 12.12%/yr for XDJP.L. Their correlation of 0.88 suggests significant overlap in exposure. HMJD.L charges 0.19%/yr vs 0.09%/yr for XDJP.L.

Performance

HMJD.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC MSCI JAPAN UCITS ETF (HMJD.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HMJD.L is traded in USD, while XDJP.L is traded in GBp. To make them comparable, the XDJP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HMJD.L achieves a 15.59% return, which is significantly lower than XDJP.L's 31.03% return. Over the past 10 years, HMJD.L has underperformed XDJP.L with an annualized return of 9.30%, while XDJP.L has yielded a comparatively higher 12.12% annualized return.

HMJD.L

• 1D: -1.92%
• 1M: -1.20%
• 6M: 9.27%
• YTD: 15.59%
• 1Y: 35.30%
• 3Y*: 17.87%
• 5Y*: 9.43%
• 10Y*: 9.30%

XDJP.L

• 1D: -0.75%
• 1M: -3.10%
• 6M: 23.29%
• YTD: 31.03%
• 1Y: 59.23%
• 3Y*: 23.27%
• 5Y*: 12.35%
• 10Y*: 12.12%

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

HMJD.L vs. XDJP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HMJD.L HSBC MSCI JAPAN UCITS ETF	15.59%	26.14%	7.23%	20.68%	-17.07%	0.77%	16.33%	18.26%	-13.65%	24.43%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	31.03%	30.18%	7.85%	21.61%	-19.86%	-4.66%	25.50%	21.26%	-8.99%	25.66%

Correlation

The correlation between HMJD.L and XDJP.L is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 25, 2013	0.88

The correlation between HMJD.L and XDJP.L has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

Return for Risk

HMJD.L vs. XDJP.L — Risk / Return Rank

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

HMJD.L

HMJD.L Risk / Return Rank: 63
HMJD.L Sharpe Ratio Rank: 61
HMJD.L Sortino Ratio Rank: 63
HMJD.L Omega Ratio Rank: 62
HMJD.L Calmar Ratio Rank: 69
HMJD.L Martin Ratio Rank: 63

XDJP.L

XDJP.L Risk / Return Rank: 85
XDJP.L Sharpe Ratio Rank: 88
XDJP.L Sortino Ratio Rank: 85
XDJP.L Omega Ratio Rank: 81
XDJP.L Calmar Ratio Rank: 89
XDJP.L Martin Ratio Rank: 79

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.

HMJD.L vs. XDJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI JAPAN UCITS ETF (HMJD.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). 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.

	HMJD.L	XDJP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.21	-0.58
Sortino ratio: Return per unit of downside risk	2.36	3.00	-0.65
Omega ratio: Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio: Return relative to maximum drawdown	2.77	3.84	-1.07
Martin ratio: Return relative to average drawdown	8.93	12.02	-3.10

HMJD.L vs. XDJP.L - Sharpe Ratio Comparison

The current HMJD.L Sharpe Ratio is 1.63, which is comparable to the XDJP.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of HMJD.L and XDJP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HMJD.L vs. XDJP.L - Drawdown Comparison

The maximum HMJD.L drawdown since its inception was -32.38%, smaller than the maximum XDJP.L drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for HMJD.L and XDJP.L.

Drawdown Indicators

	HMJD.L	XDJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.38%	-99.99%	+67.61%
Max Drawdown (1Y) Largest decline over 1 year	-12.71%	-15.36%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-14.76%	-19.06%	+4.30%
Max Drawdown (5Y) Largest decline over 5 years	-32.38%	-33.97%	+1.59%
Max Drawdown (10Y) Largest decline over 10 years	-32.38%	-35.79%	+3.41%
Current Drawdown Current decline from peak	-4.52%	-99.97%	+95.45%
Average Drawdown Average peak-to-trough decline	-8.51%	-99.41%	+90.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	4.91%	-0.96%

Volatility

HMJD.L vs. XDJP.L - Volatility Comparison

The current volatility for HSBC MSCI JAPAN UCITS ETF (HMJD.L) is 7.08%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 10.04%. This indicates that HMJD.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HMJD.L	XDJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	10.04%	-2.96%
Volatility (6M) Calculated over the trailing 6-month period	17.96%	21.79%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	21.58%	26.64%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	20.52%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	18.74%	-1.64%

HMJD.L vs. XDJP.L - Expense Ratio Comparison

HMJD.L has a 0.19% expense ratio, which is higher than XDJP.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HMJD.L vs. XDJP.L - Dividend Comparison

HMJD.L's dividend yield for the trailing twelve months is around 1.51%, more than XDJP.L's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMJD.L HSBC MSCI JAPAN UCITS ETF	1.51%	1.68%	1.66%	1.72%	2.06%	1.56%	1.57%	1.77%	1.84%	1.35%	1.40%	1.14%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	1.05%	1.33%	1.41%	1.60%	2.47%	1.20%	1.11%	1.13%	1.24%	0.72%	0.83%	0.16%

Frequently Asked Questions

Can I hold both HMJD.L and XDJP.L in my portfolio?

HMJD.L and XDJP.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HMJD.L or XDJP.L?

On fees, XDJP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HMJD.L or XDJP.L?

XDJP.L is cheaper with a 0.09% expense ratio, compared with 0.19% for HMJD.L.

What is the main difference between HMJD.L and XDJP.L?

HMJD.L tracks HSBC MSCI JAPAN UCITS ETF, while XDJP.L tracks TOPIX TR JPY. They also come from different issuers: HSBC and Xtrackers. Their fees differ too: 0.19% for HMJD.L and 0.09% for XDJP.L.