IBCG.DE vs. XMK9.DE
IBCG.DE (iShares MSCI Japan EUR Hedged UCITS ETF (Acc)) and XMK9.DE (Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged) are both Japan Equities funds - IBCG.DE tracks the MSCI Japan Index (EUR Hedged) while XMK9.DE tracks the MSCI Japan. Both are passively managed. Over the past 10 years, IBCG.DE returned 13.74%/yr vs 13.76%/yr for XMK9.DE. With a 0.98 correlation, they move nearly in lockstep. IBCG.DE charges 0.64%/yr vs 0.40%/yr for XMK9.DE.
Performance
IBCG.DE vs. XMK9.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 16.63% return and XMK9.DE slightly lower at 16.18%. Both investments have delivered pretty close results over the past 10 years, with IBCG.DE having a 13.74% annualized return and XMK9.DE not far ahead at 13.76%.
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%
XMK9.DE
- 1D
- -2.85%
- 1M
- -4.71%
- 6M
- 8.87%
- YTD
- 16.18%
- 1Y
- 43.02%
- 3Y*
- 24.54%
- 5Y*
- 18.78%
- 10Y*
- 13.76%
IBCG.DE vs. XMK9.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) | 16.63% | 26.94% | 22.76% | 32.85% | -5.89% | 12.06% | 7.58% | 16.67% | -16.91% | 18.65% |
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 16.18% | 27.06% | 22.48% | 33.32% | -6.06% | 11.96% | 7.38% | 17.43% | -16.83% | 18.73% |
Correlation
The correlation between IBCG.DE and XMK9.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 May 15, 2012 | 0.98 |
The correlation between IBCG.DE and XMK9.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. XMK9.DE — Risk / Return Rank
IBCG.DE
XMK9.DE
IBCG.DE vs. XMK9.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 Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.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 | XMK9.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.33 | 4.40 | -0.07 |
| Martin ratioReturn relative to average drawdown | 14.32 | 14.16 | +0.16 |
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Drawdowns
IBCG.DE vs. XMK9.DE - Drawdown Comparison
The maximum IBCG.DE drawdown since its inception was -34.79%, roughly equal to the maximum XMK9.DE drawdown of -34.30%. Use the drawdown chart below to compare losses from any high point for IBCG.DE and XMK9.DE.
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Drawdown Indicators
| IBCG.DE | XMK9.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.79% | -34.30% | -0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.94% | -9.73% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -21.63% | -21.74% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -21.63% | -21.74% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -34.79% | -34.30% | -0.49% |
Current DrawdownCurrent decline from peak | -6.46% | -6.84% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -7.62% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.03% | -0.02% |
Volatility
IBCG.DE vs. XMK9.DE - Volatility Comparison
The current volatility for iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.DE) is 7.02%, while Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) has a volatility of 7.62%. This indicates that IBCG.DE experiences smaller price fluctuations and is considered to be less risky than XMK9.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 | XMK9.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 7.62% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 16.45% | 16.74% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 20.86% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.67% | 18.94% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.41% | 18.53% | -0.12% |
IBCG.DE vs. XMK9.DE - Expense Ratio Comparison
IBCG.DE has a 0.64% expense ratio, which is higher than XMK9.DE's 0.40% expense ratio.
Dividends
IBCG.DE vs. XMK9.DE - Dividend Comparison
Neither IBCG.DE nor XMK9.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, IBCG.DE and XMK9.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, XMK9.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMK9.DE is cheaper with a 0.40% expense ratio, compared with 0.64% for IBCG.DE.
IBCG.DE tracks MSCI Japan Index (EUR Hedged), while XMK9.DE tracks MSCI Japan. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.64% for IBCG.DE and 0.40% for XMK9.DE.
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