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JPXN vs. BBJP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPXN vs. BBJP

Last updated Jun 5, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and BBJP (JPMorgan BetaBuilders Japan ETF) are both Japan Equities funds - JPXN tracks the JPX-Nikkei Index 400 while BBJP tracks the Morningstar Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, JPXN returned 8.72%/yr vs 8.99%/yr for BBJP. With a 0.98 correlation, they move nearly in lockstep. JPXN charges 0.48%/yr vs 0.19%/yr for BBJP.

Performance

JPXN vs. BBJP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares JPX-Nikkei 400 ETF (JPXN) and JPMorgan BetaBuilders Japan ETF (BBJP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with JPXN having a 15.82% return and BBJP slightly lower at 15.72%.

JPXN

1D
0.09%
1M
4.27%
YTD
15.82%
6M
16.06%
1Y
30.74%
3Y*
17.95%
5Y*
8.72%
10Y*
9.05%

BBJP

1D
0.30%
1M
5.16%
YTD
15.72%
6M
16.31%
1Y
32.49%
3Y*
18.68%
5Y*
8.99%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPXN vs. BBJP - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
JPXN
iShares JPX-Nikkei 400 ETF		15.82%26.03%6.48%19.69%-16.29%0.16%15.12%19.40%-14.64%
BBJP
JPMorgan BetaBuilders Japan ETF		15.72%26.55%7.47%20.65%-17.24%1.21%15.42%18.85%-13.92%

Correlation

The correlation between JPXN and BBJP 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 (All Time)
Calculated using the full available price history since Jun 19, 2018

0.98

The correlation between JPXN and BBJP has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

JPXN vs. BBJP - Sectors Allocation Comparison

Sectors
JPXN
BBJP

Industrials

28.3%
26.7%

Technology

17.3%
17.8%

Financial Services

13.7%
17.1%

Consumer Cyclical

11.3%
12.6%

Communication Services

7.8%
7.7%

Healthcare

6.2%
6.1%

Basic Materials

5.0%
3.2%

Consumer Defensive

4.8%
3.7%

Real Estate

2.8%
2.7%

Utilities

1.6%
1.3%

Energy

1.4%
1.0%

Industrials

JPXN
28.3%
BBJP
26.7%

Technology

JPXN
17.3%
BBJP
17.8%

Financial Services

JPXN
13.7%
BBJP
17.1%

Consumer Cyclical

JPXN
11.3%
BBJP
12.6%

Communication Services

JPXN
7.8%
BBJP
7.7%

Healthcare

JPXN
6.2%
BBJP
6.1%

Basic Materials

JPXN
5.0%
BBJP
3.2%

Consumer Defensive

JPXN
4.8%
BBJP
3.7%

Real Estate

JPXN
2.8%
BBJP
2.7%

Utilities

JPXN
1.6%
BBJP
1.3%

Energy

JPXN
1.4%
BBJP
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares JPX-Nikkei 400 ETF

JPMorgan BetaBuilders Japan ETF

Often compared with JPXN:
JPXN vs. EWJJPXN vs. DXJJPXN vs. FLJPJPXN vs. XDJP.DEJPXN vs. VOOJPXN vs. FJPNXJPXN vs. SCJ
Often compared with BBJP:
BBJP vs. EWJBBJP vs. DXJBBJP vs. FLJPBBJP vs. EWJVBBJP vs. DBJPBBJP vs. VOOBBJP vs. BBAX

Return for Risk

JPXN vs. BBJP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPXN
JPXN Risk / Return Rank: 4949
Overall Rank
JPXN Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
JPXN Sortino Ratio Rank: 5050
Sortino Ratio Rank
JPXN Omega Ratio Rank: 5050
Omega Ratio Rank
JPXN Calmar Ratio Rank: 4949
Calmar Ratio Rank
JPXN Martin Ratio Rank: 5050
Martin Ratio Rank
BBJP
BBJP Risk / Return Rank: 5050
Overall Rank
BBJP Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
BBJP Sortino Ratio Rank: 5151
Sortino Ratio Rank
BBJP Omega Ratio Rank: 5252
Omega Ratio Rank
BBJP Calmar Ratio Rank: 4949
Calmar Ratio Rank
BBJP Martin Ratio Rank: 4949
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JPXN vs. BBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and JPMorgan BetaBuilders Japan ETF (BBJP). 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.

JPXNBBJPDifference
Sharpe ratioReturn per unit of total volatility
1.65
1.68

-0.04

Sortino ratioReturn per unit of downside risk
2.39
2.44

-0.05

Omega ratioGain probability vs. loss probability

1.31

1.31

-0.01

Calmar ratioReturn relative to maximum drawdown

2.36

2.40

-0.04

Martin ratioReturn relative to average drawdown

8.20

8.07

+0.13

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPXN vs. BBJP - Sharpe Ratio Comparison

The current JPXN Sharpe Ratio is 1.65, which is comparable to the BBJP Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of JPXN and BBJP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

JPXNBBJPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.65

1.68

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.50

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.27

0.45

-0.18

Drawdowns

JPXN vs. BBJP - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, which is greater than BBJP's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for JPXN and BBJP.

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Drawdown Indicators

JPXNBBJPDifference

Max Drawdown

Largest peak-to-trough decline

-55.54%

-32.66%

-22.88%

Max Drawdown (1Y)

Largest decline over 1 year

-13.11%

-13.60%

+0.49%

Max Drawdown (3Y)

Largest decline over 3 years

-13.95%

-14.49%

+0.54%

Max Drawdown (5Y)

Largest decline over 5 years

-33.21%

-32.66%

-0.55%

Max Drawdown (10Y)

Largest decline over 10 years

-33.21%

—

—

Current Drawdown

Current decline from peak

-0.84%

-0.55%

-0.29%

Average Drawdown

Average peak-to-trough decline

-15.06%

-8.52%

-6.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

4.04%

-0.28%

Volatility

JPXN vs. BBJP - Volatility Comparison

iShares JPX-Nikkei 400 ETF (JPXN) and JPMorgan BetaBuilders Japan ETF (BBJP) have volatilities of 4.26% and 4.15%, 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

JPXNBBJPDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.26%

4.15%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

14.68%

14.98%

-0.30%

Volatility (1Y)

Calculated over the trailing 1-year period

18.76%

19.40%

-0.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.69%

18.15%

-0.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.06%

18.29%

-1.23%

JPXN vs. BBJP - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is higher than BBJP's 0.19% expense ratio.

Dividends

JPXN vs. BBJP - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.71%, less than BBJP's 4.64% yield.

PositionTTM20252024202320222021202020192018201720162015
BBJP
JPMorgan BetaBuilders Japan ETF		4.64%5.37%2.80%3.05%1.52%2.89%1.12%2.31%0.65%0.00%0.00%0.00%
JPXN
iShares JPX-Nikkei 400 ETF		2.71%3.14%2.29%2.57%1.47%2.63%1.27%1.92%1.60%1.50%2.07%1.32%

Frequently Asked Questions

With a correlation of 0.99, JPXN and BBJP 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.

JPXN has higher volatility (4.26%) compared to BBJP (4.15%). In terms of maximum drawdown, JPXN dropped -55.54% vs BBJP's -32.66%.

On 5-year performance, BBJP leads with 8.99% vs 8.72% for JPXN. On fees, BBJP is cheaper at 0.19% per year. On volatility, BBJP has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, BBJP has performed better with a 8.99% return vs 8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBJP is cheaper with a 0.19% expense ratio, compared with 0.48% for JPXN.

BBJP has the higher dividend yield at 4.64%, compared with 2.71% for JPXN.

JPXN tracks JPX-Nikkei Index 400, while BBJP tracks Morningstar Japan Target Market Exposure Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.48% for JPXN and 0.19% for BBJP.

BBJP currently has the higher Sharpe Ratio (1.68 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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