IBCG.DE vs. NS4E.DE
IBCG.DE (iShares MSCI Japan EUR Hedged UCITS ETF (Acc)) and NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) are both Japan Equities funds - IBCG.DE tracks the MSCI Japan Index (EUR Hedged) while NS4E.DE tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 10 years, IBCG.DE returned 14.99%/yr vs 15.07%/yr for NS4E.DE. With a 0.99 correlation, they move nearly in lockstep. IBCG.DE charges 0.64%/yr vs 0.19%/yr for NS4E.DE.
Performance
IBCG.DE vs. NS4E.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IBCG.DE having a 21.27% return and NS4E.DE slightly lower at 20.94%. Both investments have delivered pretty close results over the past 10 years, with IBCG.DE having a 14.99% annualized return and NS4E.DE not far ahead at 15.07%.
IBCG.DE
- 1D
- 1.23%
- 1M
- 1.98%
- 6M
- 20.86%
- YTD
- 21.27%
- 1Y
- 48.23%
- 3Y*
- 25.91%
- 5Y*
- 19.57%
- 10Y*
- 14.99%
NS4E.DE
- 1D
- 0.76%
- 1M
- 2.16%
- 6M
- 19.66%
- YTD
- 20.94%
- 1Y
- 46.51%
- 3Y*
- 26.09%
- 5Y*
- 20.00%
- 10Y*
- 15.07%
IBCG.DE vs. NS4E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCG.DE iShares MSCI Japan EUR Hedged UCITS ETF (Acc) | 21.27% | 26.94% | 22.76% | 32.85% | -5.89% | 12.06% | 7.58% | 16.67% | -16.91% | 18.65% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.94% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 17.31% | -17.52% | 19.58% |
Correlation
The correlation between IBCG.DE and NS4E.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 | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.99 |
The correlation between IBCG.DE and NS4E.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IBCG.DE vs. NS4E.DE — Risk / Return Rank
IBCG.DE
NS4E.DE
IBCG.DE vs. NS4E.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 Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.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 | NS4E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.45 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 4.83 | 0.00 |
| Martin ratioReturn relative to average drawdown | 16.49 | 16.73 | -0.25 |
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Drawdowns
IBCG.DE vs. NS4E.DE - Drawdown Comparison
The maximum IBCG.DE drawdown since its inception was -34.79%, roughly equal to the maximum NS4E.DE drawdown of -35.32%. Use the drawdown chart below to compare losses from any high point for IBCG.DE and NS4E.DE.
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Drawdown Indicators
| IBCG.DE | NS4E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.79% | -35.32% | +0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.94% | -9.59% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -21.63% | -20.96% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -20.96% | -0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.79% | -35.32% | +0.53% |
Current DrawdownCurrent decline from peak | -2.74% | -1.49% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -8.32% | -8.02% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.77% | +0.15% |
Volatility
IBCG.DE vs. NS4E.DE - Volatility Comparison
iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.DE) has a higher volatility of 6.70% compared to Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) at 5.77%. This indicates that IBCG.DE's price experiences larger fluctuations and is considered to be riskier than NS4E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCG.DE | NS4E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.70% | 5.77% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 15.91% | 15.28% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 19.12% | +0.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 18.19% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.45% | 18.25% | +0.20% |
IBCG.DE vs. NS4E.DE - Expense Ratio Comparison
IBCG.DE has a 0.64% expense ratio, which is higher than NS4E.DE's 0.19% expense ratio.
Dividends
IBCG.DE vs. NS4E.DE - Dividend Comparison
Neither IBCG.DE nor NS4E.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, IBCG.DE and NS4E.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, NS4E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NS4E.DE is cheaper with a 0.19% expense ratio, compared with 0.64% for IBCG.DE.
IBCG.DE tracks MSCI Japan Index (EUR Hedged), while NS4E.DE tracks JPX-Nikkei Index 400. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.64% for IBCG.DE and 0.19% for NS4E.DE.
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