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JPXN vs. FNGS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPXN vs. FNGS

Last updated Jun 14, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and FNGS (MicroSectors FANG+ ETN) are both exchange-traded funds - JPXN is a Japan Equities fund tracking the JPX-Nikkei Index 400, while FNGS is a Large Cap Growth Equities fund tracking the NYSE FANG+ Index. Both are passively managed. Over the past 5 years, JPXN returned 8.45%/yr vs 19.76%/yr for FNGS. A 0.50 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 0.58%/yr for FNGS.

Performance

JPXN vs. FNGS - Performance Comparison

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

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Returns By Period

In the year-to-date period, JPXN achieves a 14.07% return, which is significantly higher than FNGS's 6.79% return.

JPXN

1D
0.64%
1M
-1.32%
YTD
14.07%
6M
13.60%
1Y
29.50%
3Y*
16.06%
5Y*
8.45%
10Y*
9.45%

FNGS

1D
-0.94%
1M
-3.68%
YTD
6.79%
6M
4.25%
1Y
19.09%
3Y*
29.80%
5Y*
19.76%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPXN vs. FNGS - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
JPXN
iShares JPX-Nikkei 400 ETF		14.07%26.03%6.48%19.69%-16.29%0.16%15.12%0.17%
FNGS
MicroSectors FANG+ ETN		6.79%18.64%51.99%95.24%-40.32%16.96%101.99%10.10%

Correlation

The correlation between JPXN and FNGS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Nov 13, 2019

0.50

The correlation between JPXN and FNGS has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

JPXN vs. FNGS - Sectors Allocation Comparison

Sectors
JPXN
FNGS

Industrials

26.2%

-

Technology

20.4%
63.4%

Financial Services

14.1%
10.0%

Consumer Cyclical

10.9%
10.6%

Communication Services

6.7%
26.0%

Healthcare

6.2%

-

Basic Materials

5.1%

-

Consumer Defensive

4.5%

-

Real Estate

2.3%

-

Utilities

1.5%

-

Energy

1.2%

-

Industrials

JPXN
26.2%
FNGS

-

Technology

JPXN
20.4%
FNGS
63.4%

Financial Services

JPXN
14.1%
FNGS
10.0%

Consumer Cyclical

JPXN
10.9%
FNGS
10.6%

Communication Services

JPXN
6.7%
FNGS
26.0%

Healthcare

JPXN
6.2%
FNGS

-

Basic Materials

JPXN
5.1%
FNGS

-

Consumer Defensive

JPXN
4.5%
FNGS

-

Real Estate

JPXN
2.3%
FNGS

-

Utilities

JPXN
1.5%
FNGS

-

Energy

JPXN
1.2%
FNGS

-

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

MicroSectors FANG+ ETN

Often compared with JPXN:
JPXN vs. EWJJPXN vs. DXJJPXN vs. FLJPJPXN vs. XDJP.DEJPXN vs. VOOJPXN vs. FJPNXJPXN vs. SCJ
Often compared with FNGS:
FNGS vs. MAGSFNGS vs. SPYFNGS vs. QQQFNGS vs. FNGOFNGS vs. QLDFNGS vs. SMHFNGS vs. MON100.NS

Return for Risk

JPXN vs. FNGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
JPXN
JPXN Risk / Return Rank: 5050
Overall Rank
JPXN Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
JPXN Sortino Ratio Rank: 5050
Sortino Ratio Rank
JPXN Omega Ratio Rank: 4949
Omega Ratio Rank
JPXN Calmar Ratio Rank: 5050
Calmar Ratio Rank
JPXN Martin Ratio Rank: 5050
Martin Ratio Rank
FNGS
FNGS Risk / Return Rank: 2323
Overall Rank
FNGS Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
FNGS Sortino Ratio Rank: 2424
Sortino Ratio Rank
FNGS Omega Ratio Rank: 2424
Omega Ratio Rank
FNGS Calmar Ratio Rank: 2020
Calmar Ratio Rank
FNGS Martin Ratio Rank: 2020
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. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and MicroSectors FANG+ ETN (FNGS). 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.

JPXNFNGSDifference
Sharpe ratioReturn per unit of total volatility
1.48
0.79

+0.69

Sortino ratioReturn per unit of downside risk
2.15
1.19

+0.96

Omega ratioGain probability vs. loss probability

1.27

1.15

+0.13

Calmar ratioReturn relative to maximum drawdown

2.18

0.75

+1.43

Martin ratioReturn relative to average drawdown

7.51

2.12

+5.39

JPXN vs. FNGS - Sharpe Ratio Comparison

The current JPXN Sharpe Ratio is 1.48, which is higher than the FNGS Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of JPXN and FNGS, 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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Drawdowns

JPXN vs. FNGS - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, which is greater than FNGS's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for JPXN and FNGS.

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Drawdown Indicators

JPXNFNGSDifference

Max Drawdown

Largest peak-to-trough decline

-55.54%

-48.98%

-6.56%

Max Drawdown (1Y)

Largest decline over 1 year

-13.11%

-22.93%

+9.82%

Max Drawdown (3Y)

Largest decline over 3 years

-13.95%

-26.77%

+12.82%

Max Drawdown (5Y)

Largest decline over 5 years

-33.21%

-48.98%

+15.77%

Max Drawdown (10Y)

Largest decline over 10 years

-33.21%

—

—

Current Drawdown

Current decline from peak

-2.34%

-9.63%

+7.29%

Average Drawdown

Average peak-to-trough decline

-15.04%

-10.85%

-4.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.80%

8.05%

-4.25%

Volatility

JPXN vs. FNGS - Volatility Comparison

The current volatility for iShares JPX-Nikkei 400 ETF (JPXN) is 5.70%, while MicroSectors FANG+ ETN (FNGS) has a volatility of 8.74%. This indicates that JPXN experiences smaller price fluctuations and is considered to be less risky than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JPXNFNGSDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.70%

8.74%

-3.04%

Volatility (6M)

Calculated over the trailing 6-month period

15.42%

17.19%

-1.77%

Volatility (1Y)

Calculated over the trailing 1-year period

19.35%

21.65%

-2.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.81%

30.10%

-12.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.10%

31.17%

-14.07%

JPXN vs. FNGS - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is lower than FNGS's 0.58% expense ratio.

Dividends

JPXN vs. FNGS - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.76%, while FNGS has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FNGS
MicroSectors FANG+ ETN		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
JPXN
iShares JPX-Nikkei 400 ETF		2.76%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

JPXN and FNGS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FNGS has higher volatility (8.74%) compared to JPXN (5.70%). In terms of maximum drawdown, JPXN dropped -55.54% vs FNGS's -48.98%.

On 5-year performance, FNGS leads with 19.76% vs 8.45% for JPXN. On fees, JPXN is cheaper at 0.48% per year. On volatility, JPXN has been the lower-risk option at 5.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FNGS has performed better with a 19.76% return vs 8.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

JPXN is cheaper with a 0.48% expense ratio, compared with 0.58% for FNGS.

JPXN has the higher dividend yield at 2.76%, compared with 0.00% for FNGS.

JPXN is categorized as Japan Equities, while FNGS is Large Cap Growth Equities. JPXN tracks JPX-Nikkei Index 400, while FNGS tracks NYSE FANG+ Index. They also come from different issuers: iShares and BMO. Their fees differ too: 0.48% for JPXN and 0.58% for FNGS.

JPXN currently has the higher Sharpe Ratio (1.48 vs 0.79), 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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