IJPE.L vs. N4US.L
IJPE.L (iShares MSCI Japan EUR Hedged UCITS ETF Accumulating) and N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) are both Japan Equities funds - IJPE.L tracks the MSCI Japan Index while N4US.L tracks the JPX-Nikkei 400 USD Hedged Index. Both are passively managed. Over the past 10 years, IJPE.L returned 13.73%/yr vs 15.90%/yr for N4US.L. Their correlation of 0.88 suggests significant overlap in exposure. IJPE.L charges 0.64%/yr vs 0.19%/yr for N4US.L.
Performance
IJPE.L vs. N4US.L - Performance Comparison
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Different Trading Currencies
IJPE.L is traded in EUR, while N4US.L is traded in USD. To make them comparable, the N4US.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IJPE.L achieves a 16.87% return, which is significantly lower than N4US.L's 22.00% return. Over the past 10 years, IJPE.L has underperformed N4US.L with an annualized return of 13.73%, while N4US.L has yielded a comparatively higher 15.90% annualized return.
IJPE.L
- 1D
- -2.36%
- 1M
- -4.28%
- 6M
- 9.21%
- YTD
- 16.87%
- 1Y
- 43.28%
- 3Y*
- 24.72%
- 5Y*
- 18.91%
- 10Y*
- 13.73%
N4US.L
- 1D
- -1.98%
- 1M
- -2.21%
- 6M
- 12.94%
- YTD
- 22.00%
- 1Y
- 47.46%
- 3Y*
- 26.71%
- 5Y*
- 22.65%
- 10Y*
- 15.90%
IJPE.L vs. N4US.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IJPE.L iShares MSCI Japan EUR Hedged UCITS ETF Accumulating | 16.87% | 27.33% | 22.08% | 32.82% | -5.43% | 11.46% | 8.93% | 15.39% | -16.93% | 18.75% |
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 22.00% | 14.80% | 31.94% | 31.90% | 5.08% | 19.50% | 1.66% | 22.19% | -11.79% | 7.88% |
Correlation
The correlation between IJPE.L and N4US.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.88 |
The correlation between IJPE.L and N4US.L has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
IJPE.L vs. N4US.L — Risk / Return Rank
IJPE.L
N4US.L
IJPE.L vs. N4US.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.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.
| IJPE.L | N4US.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.42 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.46 | 6.41 | -1.95 |
| Martin ratioReturn relative to average drawdown | 14.34 | 20.64 | -6.30 |
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Drawdowns
IJPE.L vs. N4US.L - Drawdown Comparison
The maximum IJPE.L drawdown since its inception was -34.53%, which is greater than N4US.L's maximum drawdown of -31.76%. Use the drawdown chart below to compare losses from any high point for IJPE.L and N4US.L.
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Drawdown Indicators
| IJPE.L | N4US.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.53% | -31.76% | -2.77% |
Max Drawdown (1Y)Largest decline over 1 year | -9.66% | -7.36% | -2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | -22.26% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -22.26% | +0.76% |
Max Drawdown (10Y)Largest decline over 10 years | -34.53% | -31.76% | -2.77% |
Current DrawdownCurrent decline from peak | -6.57% | -4.59% | -1.98% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -6.76% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.29% | +0.72% |
Volatility
IJPE.L vs. N4US.L - Volatility Comparison
iShares MSCI Japan EUR Hedged UCITS ETF Accumulating (IJPE.L) has a higher volatility of 7.31% compared to Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) at 6.07%. This indicates that IJPE.L's price experiences larger fluctuations and is considered to be riskier 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
| IJPE.L | N4US.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 6.07% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | 15.50% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.76% | 19.94% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 19.44% | -0.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.57% | 19.74% | -1.17% |
IJPE.L vs. N4US.L - Expense Ratio Comparison
IJPE.L has a 0.64% expense ratio, which is higher than N4US.L's 0.19% expense ratio.
Dividends
IJPE.L vs. N4US.L - Dividend Comparison
Neither IJPE.L nor N4US.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, IJPE.L and N4US.L 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, N4US.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
N4US.L is cheaper with a 0.19% expense ratio, compared with 0.64% for IJPE.L.
IJPE.L tracks MSCI Japan Index, while N4US.L tracks JPX-Nikkei 400 USD Hedged Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.64% for IJPE.L and 0.19% for N4US.L.
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