JPNH.DE vs. IBCG.DE
JPNH.DE (Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist)) and IBCG.DE (iShares MSCI Japan EUR Hedged UCITS ETF (Acc)) are both Japan Equities funds - JPNH.DE tracks the TOPIX Index (EUR Hedged) while IBCG.DE tracks the MSCI Japan Index (EUR Hedged). Both are passively managed. Over the past 10 years, JPNH.DE returned 13.72%/yr vs 14.08%/yr for IBCG.DE. With a 0.99 correlation, they move nearly in lockstep. JPNH.DE charges 0.45%/yr vs 0.64%/yr for IBCG.DE.
Performance
JPNH.DE vs. IBCG.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JPNH.DE having a 19.83% return and IBCG.DE slightly higher at 20.30%. Both investments have delivered pretty close results over the past 10 years, with JPNH.DE having a 13.72% annualized return and IBCG.DE not far ahead at 14.08%.
JPNH.DE
- 1D
- -0.93%
- 1M
- 1.78%
- 6M
- 12.92%
- YTD
- 19.83%
- 1Y
- 47.19%
- 3Y*
- 26.36%
- 5Y*
- 19.27%
- 10Y*
- 13.72%
IBCG.DE
- 1D
- -1.21%
- 1M
- 0.60%
- 6M
- 13.03%
- YTD
- 20.30%
- 1Y
- 49.05%
- 3Y*
- 26.62%
- 5Y*
- 19.66%
- 10Y*
- 14.08%
JPNH.DE vs. IBCG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPNH.DE Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) | 19.83% | 27.75% | 21.23% | 32.08% | -4.87% | 10.85% | 5.84% | 15.91% | -17.82% | 20.38% |
IBCG.DE iShares MSCI Japan EUR Hedged UCITS ETF (Acc) | 20.30% | 26.94% | 22.76% | 32.85% | -5.89% | 12.06% | 7.58% | 16.67% | -16.91% | 18.65% |
Correlation
The correlation between JPNH.DE and IBCG.DE is 0.99 - 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 | 0.99 |
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 Apr 25, 2013 | 0.99 |
The correlation between JPNH.DE and IBCG.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
JPNH.DE vs. IBCG.DE — Risk / Return Rank
JPNH.DE
IBCG.DE
JPNH.DE vs. IBCG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.DE) and iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.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.
| JPNH.DE | IBCG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.66 | 4.91 | -0.25 |
| Martin ratioReturn relative to average drawdown | 16.50 | 16.44 | +0.06 |
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Drawdowns
JPNH.DE vs. IBCG.DE - Drawdown Comparison
The maximum JPNH.DE drawdown since its inception was -36.52%, roughly equal to the maximum IBCG.DE drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for JPNH.DE and IBCG.DE.
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Drawdown Indicators
| JPNH.DE | IBCG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.52% | -34.79% | -1.73% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -9.94% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -20.72% | -21.63% | +0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -20.72% | -21.63% | +0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -36.52% | -34.79% | -1.73% |
Current DrawdownCurrent decline from peak | -1.64% | -3.52% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -8.31% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.97% | -0.12% |
Volatility
JPNH.DE vs. IBCG.DE - Volatility Comparison
The current volatility for Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.DE) is 5.65%, while iShares MSCI Japan EUR Hedged UCITS ETF (Acc) (IBCG.DE) has a volatility of 6.82%. This indicates that JPNH.DE experiences smaller price fluctuations and is considered to be less risky than IBCG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPNH.DE | IBCG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.65% | 6.82% | -1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 15.45% | 16.24% | -0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.48% | 20.47% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 18.64% | -0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 18.39% | -0.22% |
JPNH.DE vs. IBCG.DE - Expense Ratio Comparison
JPNH.DE has a 0.45% expense ratio, which is lower than IBCG.DE's 0.64% expense ratio.
Dividends
JPNH.DE vs. IBCG.DE - Dividend Comparison
JPNH.DE's dividend yield for the trailing twelve months is around 0.74%, while IBCG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
JPNH.DE Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) | 0.74% | 0.89% | 1.52% | 1.29% | 1.66% | 1.33% | 1.09% | 1.93% | 1.89% | 1.36% | 1.96% | 1.84% |
Frequently Asked Questions
With a correlation of 0.99, JPNH.DE and IBCG.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, JPNH.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPNH.DE is cheaper with a 0.45% expense ratio, compared with 0.64% for IBCG.DE.
JPNH.DE tracks TOPIX Index (EUR Hedged), while IBCG.DE tracks MSCI Japan Index (EUR Hedged). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.45% for JPNH.DE and 0.64% for IBCG.DE.
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