HSJP.L vs. N4US.L
HSJP.L (HSBC Japan Sustainable Equity UCITS ETF USD) and N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) are both Japan Equities funds - HSJP.L tracks the TOPIX TR JPY while N4US.L tracks the JPX-Nikkei 400 USD Hedged Index. Both are passively managed. Over the past 5 years, HSJP.L returned 10.66%/yr vs 22.44%/yr for N4US.L. A 0.76 correlation means they provide meaningful diversification when combined. HSJP.L charges 0.18%/yr vs 0.19%/yr for N4US.L.
Performance
HSJP.L vs. N4US.L - Performance Comparison
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Different Trading Currencies
HSJP.L is traded in GBP, while N4US.L is traded in USD. To make them comparable, the N4US.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HSJP.L achieves a 10.89% return, which is significantly lower than N4US.L's 18.97% return.
HSJP.L
- 1D
- -1.75%
- 1M
- -3.54%
- 6M
- 3.93%
- YTD
- 10.89%
- 1Y
- 30.22%
- 3Y*
- 16.66%
- 5Y*
- 10.66%
- 10Y*
- —
N4US.L
- 1D
- -1.85%
- 1M
- -3.94%
- 6M
- 10.74%
- YTD
- 18.97%
- 1Y
- 45.07%
- 3Y*
- 26.16%
- 5Y*
- 22.44%
- 10Y*
- 16.03%
HSJP.L vs. N4US.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSJP.L HSBC Japan Sustainable Equity UCITS ETF USD | 10.89% | 18.26% | 13.86% | 13.29% | -5.31% | 4.55% | -10.63% |
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 18.97% | 20.97% | 25.93% | 29.18% | 10.71% | 12.23% | 4.65% |
Correlation
The correlation between HSJP.L and N4US.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.76 |
The correlation between HSJP.L and N4US.L shifts across timeframes, from 0.74 (5 years) to 0.84 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HSJP.L vs. N4US.L — Risk / Return Rank
HSJP.L
N4US.L
HSJP.L vs. N4US.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Japan Sustainable Equity UCITS ETF USD (HSJP.L) and Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.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.
| HSJP.L | N4US.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 5.23 | -2.74 |
| Martin ratioReturn relative to average drawdown | 7.35 | 16.75 | -9.40 |
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Drawdowns
HSJP.L vs. N4US.L - Drawdown Comparison
The maximum HSJP.L drawdown since its inception was -25.60%, smaller than the maximum N4US.L drawdown of -28.61%. Use the drawdown chart below to compare losses from any high point for HSJP.L and N4US.L.
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Drawdown Indicators
| HSJP.L | N4US.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.60% | -28.61% | +3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -8.58% | -3.54% |
Max Drawdown (3Y)Largest decline over 3 years | -20.24% | -20.94% | +0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -20.24% | -20.94% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.61% | — |
Current DrawdownCurrent decline from peak | -4.88% | -5.90% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -5.12% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.68% | +1.42% |
Volatility
HSJP.L vs. N4US.L - Volatility Comparison
The current volatility for HSBC Japan Sustainable Equity UCITS ETF USD (HSJP.L) is 5.24%, while Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) has a volatility of 6.00%. This indicates that HSJP.L experiences smaller price fluctuations and is considered to be less risky than N4US.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSJP.L | N4US.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 6.00% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 15.70% | 15.65% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.27% | 19.76% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.30% | 19.07% | +2.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.13% | 19.47% | +2.66% |
HSJP.L vs. N4US.L - Expense Ratio Comparison
HSJP.L has a 0.18% expense ratio, which is lower than N4US.L's 0.19% 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
HSJP.L vs. N4US.L - Dividend Comparison
Neither HSJP.L nor N4US.L has paid dividends to shareholders.
Frequently Asked Questions
HSJP.L and N4US.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HSJP.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HSJP.L is cheaper with a 0.18% expense ratio, compared with 0.19% for N4US.L.
HSJP.L tracks TOPIX TR JPY, while N4US.L tracks JPX-Nikkei 400 USD Hedged Index. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.18% for HSJP.L and 0.19% for N4US.L.
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