JPNH.DE vs. JP40.DE
JPNH.DE (Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist)) and JP40.DE (Amundi JPX Nikkei 400 UCITS ETF EUR) are both Japan Equities funds from Amundi - JPNH.DE tracks the TOPIX Index (EUR Hedged) while JP40.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 10 years, JPNH.DE returned 14.52%/yr vs 9.22%/yr for JP40.DE. Their correlation of 0.81 suggests significant overlap in exposure. JPNH.DE charges 0.45%/yr vs 0.18%/yr for JP40.DE.
Performance
JPNH.DE vs. JP40.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JPNH.DE having a 20.19% return and JP40.DE slightly lower at 19.93%. Over the past 10 years, JPNH.DE has outperformed JP40.DE with an annualized return of 14.52%, while JP40.DE has yielded a comparatively lower 9.22% annualized return.
JPNH.DE
- 1D
- 0.95%
- 1M
- 2.38%
- 6M
- 19.98%
- YTD
- 20.19%
- 1Y
- 46.43%
- 3Y*
- 25.43%
- 5Y*
- 19.09%
- 10Y*
- 14.52%
JP40.DE
- 1D
- 0.60%
- 1M
- 3.02%
- 6M
- 19.79%
- YTD
- 19.93%
- 1Y
- 33.94%
- 3Y*
- 16.85%
- 5Y*
- 10.53%
- 10Y*
- 9.22%
JPNH.DE vs. JP40.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) | 20.19% | 27.75% | 21.23% | 32.08% | -4.87% | 10.85% | 5.84% | 15.91% | -17.82% | 20.38% |
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR | 19.93% | 12.78% | 13.18% | 15.77% | -11.05% | 8.49% | 4.79% | 22.33% | -10.68% | 9.57% |
Correlation
The correlation between JPNH.DE and JP40.DE is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2014 | 0.81 |
The correlation between JPNH.DE and JP40.DE has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
JPNH.DE vs. JP40.DE — Risk / Return Rank
JPNH.DE
JP40.DE
JPNH.DE vs. JP40.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 Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.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 | JP40.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.35 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 3.58 | +1.00 |
| Martin ratioReturn relative to average drawdown | 16.33 | 12.07 | +4.26 |
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Drawdowns
JPNH.DE vs. JP40.DE - Drawdown Comparison
The maximum JPNH.DE drawdown since its inception was -36.52%, which is greater than JP40.DE's maximum drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for JPNH.DE and JP40.DE.
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Drawdown Indicators
| JPNH.DE | JP40.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.52% | -28.51% | -8.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -9.43% | -0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -20.72% | -15.82% | -4.90% |
Max Drawdown (5Y)Largest decline over 5 years | -20.72% | -19.66% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -36.52% | -28.51% | -8.01% |
Current DrawdownCurrent decline from peak | -1.24% | -1.44% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -5.98% | -1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 2.80% | +0.04% |
Volatility
JPNH.DE vs. JP40.DE - Volatility Comparison
Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.DE) and Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE) have volatilities of 5.58% and 5.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPNH.DE | JP40.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.58% | 5.55% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 15.21% | 15.30% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.17% | 18.62% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.06% | 16.69% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 16.43% | +1.80% |
JPNH.DE vs. JP40.DE - Expense Ratio Comparison
JPNH.DE has a 0.45% expense ratio, which is higher than JP40.DE's 0.18% expense ratio.
Dividends
JPNH.DE vs. JP40.DE - Dividend Comparison
JPNH.DE's dividend yield for the trailing twelve months is around 0.74%, while JP40.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR | 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
JPNH.DE and JP40.DE have a correlation of 0.87, 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 0.45% for JPNH.DE.
JPNH.DE tracks TOPIX Index (EUR Hedged), while JP40.DE tracks JPX-Nikkei 400. Their fees differ too: 0.45% for JPNH.DE and 0.18% for JP40.DE.
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