IBCG.DE vs. EMNJ.DE
IBCG.DE (iShares MSCI Japan EUR Hedged UCITS ETF (Acc)) and EMNJ.DE (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) are both Japan Equities funds from iShares - IBCG.DE tracks the MSCI Japan Index (EUR Hedged) while EMNJ.DE tracks the MSCI Japan ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, IBCG.DE returned 18.92%/yr vs 8.89%/yr for EMNJ.DE. Their correlation of 0.84 suggests significant overlap in exposure. IBCG.DE charges 0.64%/yr vs 0.15%/yr for EMNJ.DE.
Performance
IBCG.DE vs. EMNJ.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBCG.DE achieves a 16.63% return, which is significantly higher than EMNJ.DE's 15.52% return.
IBCG.DE
- 1D
- -2.50%
- 1M
- -4.32%
- 6M
- 9.21%
- YTD
- 16.63%
- 1Y
- 43.25%
- 3Y*
- 24.76%
- 5Y*
- 18.92%
- 10Y*
- 13.74%
EMNJ.DE
- 1D
- -2.46%
- 1M
- -3.71%
- 6M
- 8.72%
- YTD
- 15.52%
- 1Y
- 33.04%
- 3Y*
- 14.70%
- 5Y*
- 8.89%
- 10Y*
- —
IBCG.DE vs. EMNJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBCG.DE iShares MSCI Japan EUR Hedged UCITS ETF (Acc) | 16.63% | 26.94% | 22.76% | 32.85% | -5.89% | 12.06% | 7.58% | 9.83% |
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% |
Correlation
The correlation between IBCG.DE and EMNJ.DE is 0.91, 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 | 0.91 |
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 IBCG.DE and EMNJ.DE shifts across timeframes, from 0.81 (5 years) to 0.91 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBCG.DE vs. EMNJ.DE — Risk / Return Rank
IBCG.DE
EMNJ.DE
IBCG.DE vs. EMNJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.DE) and iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.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.
| IBCG.DE | EMNJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.30 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.33 | 3.08 | +1.26 |
| Martin ratioReturn relative to average drawdown | 14.32 | 10.24 | +4.08 |
Loading charts...
Drawdowns
IBCG.DE vs. EMNJ.DE - Drawdown Comparison
The maximum IBCG.DE drawdown since its inception was -34.79%, which is greater than EMNJ.DE's maximum drawdown of -28.10%. Use the drawdown chart below to compare losses from any high point for IBCG.DE and EMNJ.DE.
Loading charts...
Drawdown Indicators
| IBCG.DE | EMNJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.79% | -28.10% | -6.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.94% | -10.70% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -21.63% | -16.91% | -4.72% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -19.91% | -1.72% |
Max Drawdown (10Y)Largest decline over 10 years | -34.79% | — | — |
Current DrawdownCurrent decline from peak | -6.46% | -6.35% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -6.57% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.22% | -0.21% |
Volatility
IBCG.DE vs. EMNJ.DE - Volatility Comparison
iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.DE) has a higher volatility of 7.02% compared to iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.DE) at 6.67%. This indicates that IBCG.DE's price experiences larger fluctuations and is considered to be riskier than EMNJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBCG.DE | EMNJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 6.67% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 16.45% | 16.87% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 20.67% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.67% | 17.05% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.41% | 18.28% | +0.13% |
IBCG.DE vs. EMNJ.DE - Expense Ratio Comparison
IBCG.DE has a 0.64% expense ratio, which is higher than EMNJ.DE's 0.15% expense ratio.
Dividends
IBCG.DE vs. EMNJ.DE - Dividend Comparison
IBCG.DE has not paid dividends to shareholders, while EMNJ.DE's dividend yield for the trailing twelve months is around 1.47%.
| 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% |
IBCG.DE iShares MSCI Japan EUR Hedged UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, IBCG.DE and EMNJ.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, 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 0.64% for IBCG.DE.
IBCG.DE tracks MSCI Japan Index (EUR Hedged), while EMNJ.DE tracks MSCI Japan ESG Enhanced Focus CTB Index. Their fees differ too: 0.64% for IBCG.DE and 0.15% for EMNJ.DE.
Find the right allocation for IBCG.DE and EMNJ.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer