JPNH.DE vs. NS4E.DE
JPNH.DE (Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist)) and NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) are both Japan Equities funds - JPNH.DE tracks the TOPIX Index (EUR Hedged) while NS4E.DE tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 10 years, JPNH.DE returned 14.52%/yr vs 15.07%/yr for NS4E.DE. With a 0.99 correlation, they move nearly in lockstep. JPNH.DE charges 0.45%/yr vs 0.19%/yr for NS4E.DE.
Performance
JPNH.DE vs. NS4E.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 20.19% return and NS4E.DE slightly higher at 20.94%. Both investments have delivered pretty close results over the past 10 years, with JPNH.DE having a 14.52% annualized return and NS4E.DE not far ahead at 15.07%.
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%
NS4E.DE
- 1D
- 0.76%
- 1M
- 2.16%
- 6M
- 19.66%
- YTD
- 20.94%
- 1Y
- 46.51%
- 3Y*
- 26.09%
- 5Y*
- 20.00%
- 10Y*
- 15.07%
JPNH.DE vs. NS4E.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% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.94% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 17.31% | -17.52% | 19.58% |
Correlation
The correlation between JPNH.DE and NS4E.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 | 0.99 |
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 Mar 10, 2015 | 0.99 |
The correlation between JPNH.DE and NS4E.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
JPNH.DE vs. NS4E.DE — Risk / Return Rank
JPNH.DE
NS4E.DE
JPNH.DE vs. NS4E.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 Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.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 | NS4E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.45 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 4.83 | -0.24 |
| Martin ratioReturn relative to average drawdown | 16.33 | 16.73 | -0.41 |
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Drawdowns
JPNH.DE vs. NS4E.DE - Drawdown Comparison
The maximum JPNH.DE drawdown since its inception was -36.52%, roughly equal to the maximum NS4E.DE drawdown of -35.32%. Use the drawdown chart below to compare losses from any high point for JPNH.DE and NS4E.DE.
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Drawdown Indicators
| JPNH.DE | NS4E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.52% | -35.32% | -1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -9.59% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.72% | -20.96% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.72% | -20.96% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -36.52% | -35.32% | -1.20% |
Current DrawdownCurrent decline from peak | -1.24% | -1.49% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -8.02% | +0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 2.77% | +0.07% |
Volatility
JPNH.DE vs. NS4E.DE - Volatility Comparison
Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.DE) and Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) have volatilities of 5.58% and 5.77%, 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 | NS4E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.58% | 5.77% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.21% | 15.28% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.17% | 19.12% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.06% | 18.19% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.25% | -0.02% |
JPNH.DE vs. NS4E.DE - Expense Ratio Comparison
JPNH.DE has a 0.45% expense ratio, which is higher than NS4E.DE's 0.19% expense ratio.
Dividends
JPNH.DE vs. NS4E.DE - Dividend Comparison
JPNH.DE's dividend yield for the trailing twelve months is around 0.74%, while NS4E.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, JPNH.DE and NS4E.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, NS4E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NS4E.DE is cheaper with a 0.19% expense ratio, compared with 0.45% for JPNH.DE.
JPNH.DE tracks TOPIX Index (EUR Hedged), while NS4E.DE tracks JPX-Nikkei Index 400. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.45% for JPNH.DE and 0.19% for NS4E.DE.
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