JP40.DE vs. JNHD.DE
JP40.DE (Amundi JPX Nikkei 400 UCITS ETF EUR) and JNHD.DE (Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds from Amundi - JP40.DE tracks the JPX-Nikkei 400 while JNHD.DE tracks the MSCI Japan Index (EUR Hedged). Both are passively managed. Over the past 5 years, JP40.DE returned 10.07%/yr vs 19.43%/yr for JNHD.DE. A 0.79 correlation means they provide meaningful diversification when combined. JP40.DE charges 0.18%/yr vs 0.20%/yr for JNHD.DE.
Performance
JP40.DE vs. JNHD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JP40.DE achieves a 17.68% return, which is significantly lower than JNHD.DE's 19.85% return.
JP40.DE
- 1D
- -0.61%
- 1M
- 0.45%
- 6M
- 10.52%
- YTD
- 17.68%
- 1Y
- 35.84%
- 3Y*
- 16.78%
- 5Y*
- 10.07%
- 10Y*
- 8.75%
JNHD.DE
- 1D
- -0.84%
- 1M
- -0.80%
- 6M
- 11.86%
- YTD
- 19.85%
- 1Y
- 50.22%
- 3Y*
- 26.81%
- 5Y*
- 19.43%
- 10Y*
- —
JP40.DE vs. JNHD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR | 17.68% | 12.78% | 13.18% | 15.77% | -11.05% | 8.49% | 9.26% |
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 19.85% | 27.52% | 23.21% | 32.66% | -7.11% | 11.87% | 12.61% |
Correlation
The correlation between JP40.DE and JNHD.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.79 |
The correlation between JP40.DE and JNHD.DE has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
JP40.DE vs. JNHD.DE — Risk / Return Rank
JP40.DE
JNHD.DE
JP40.DE vs. JNHD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE) and Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.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.
| JP40.DE | JNHD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.43 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 5.19 | -1.41 |
| Martin ratioReturn relative to average drawdown | 12.59 | 17.12 | -4.53 |
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Drawdowns
JP40.DE vs. JNHD.DE - Drawdown Comparison
The maximum JP40.DE drawdown since its inception was -28.51%, which is greater than JNHD.DE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for JP40.DE and JNHD.DE.
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Drawdown Indicators
| JP40.DE | JNHD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.51% | -21.83% | -6.68% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -9.62% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -21.83% | +6.01% |
Max Drawdown (5Y)Largest decline over 5 years | -19.66% | -21.83% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -28.51% | — | — |
Current DrawdownCurrent decline from peak | -3.28% | -4.06% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -4.16% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 2.93% | -0.09% |
Volatility
JP40.DE vs. JNHD.DE - Volatility Comparison
The current volatility for Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE) is 5.90%, while Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.DE) has a volatility of 6.70%. This indicates that JP40.DE experiences smaller price fluctuations and is considered to be less risky than JNHD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JP40.DE | JNHD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 6.70% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 15.61% | 16.30% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 20.86% | -1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.74% | 18.86% | -2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.46% | 18.39% | -1.93% |
JP40.DE vs. JNHD.DE - Expense Ratio Comparison
JP40.DE has a 0.18% expense ratio, which is lower than JNHD.DE's 0.20% 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
JP40.DE vs. JNHD.DE - Dividend Comparison
JP40.DE has not paid dividends to shareholders, while JNHD.DE's dividend yield for the trailing twelve months is around 1.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 1.51% | 1.82% | 1.85% | 1.72% | 2.52% | 1.83% | 0.78% |
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JP40.DE and JNHD.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JP40.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JP40.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for JNHD.DE.
JP40.DE tracks JPX-Nikkei 400, while JNHD.DE tracks MSCI Japan Index (EUR Hedged). Their fees differ too: 0.18% for JP40.DE and 0.20% for JNHD.DE.
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