JPXN vs. HJPNX
JPXN (iShares JPX-Nikkei 400 ETF) and HJPNX (Hennessy Japan Fund) are both Japan Equities funds. Over the past 10 years, JPXN returned 9.05%/yr vs 9.80%/yr for HJPNX. A 0.76 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 1.44%/yr for HJPNX.
Performance
JPXN vs. HJPNX - Performance Comparison
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Returns By Period
In the year-to-date period, JPXN achieves a 15.82% return, which is significantly lower than HJPNX's 20.44% return. Over the past 10 years, JPXN has underperformed HJPNX with an annualized return of 9.05%, while HJPNX has yielded a comparatively higher 9.80% annualized return.
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%
HJPNX
- 1D
- 1.19%
- 1M
- 9.97%
- YTD
- 20.44%
- 6M
- 20.50%
- 1Y
- 31.96%
- 3Y*
- 20.75%
- 5Y*
- 7.72%
- 10Y*
- 9.80%
JPXN vs. HJPNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPXN iShares JPX-Nikkei 400 ETF | 15.82% | 26.03% | 6.48% | 19.69% | -16.29% | 0.16% | 15.12% | 19.40% | -14.87% | 24.41% |
HJPNX Hennessy Japan Fund | 20.44% | 14.58% | 18.72% | 22.90% | -30.65% | -3.08% | 25.52% | 18.04% | -6.57% | 32.04% |
Correlation
The correlation between JPXN and HJPNX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2003 | 0.76 |
The correlation between JPXN and HJPNX shifts across timeframes, from 0.76 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JPXN vs. HJPNX — Risk / Return Rank
JPXN
HJPNX
JPXN vs. HJPNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and Hennessy Japan Fund (HJPNX). 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.
| JPXN | HJPNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 2.32 | +0.04 |
| Martin ratioReturn relative to average drawdown | 8.20 | 7.80 | +0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| JPXN | HJPNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 1.45 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.37 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.52 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.45 | -0.18 |
Drawdowns
JPXN vs. HJPNX - Drawdown Comparison
The maximum JPXN drawdown since its inception was -55.54%, smaller than the maximum HJPNX drawdown of -59.65%. Use the drawdown chart below to compare losses from any high point for JPXN and HJPNX.
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Drawdown Indicators
| JPXN | HJPNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.54% | -59.65% | +4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.11% | -14.18% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -13.95% | -20.06% | +6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -33.21% | -44.72% | +11.51% |
Max Drawdown (10Y)Largest decline over 10 years | -33.21% | -44.72% | +11.51% |
Current DrawdownCurrent decline from peak | -0.84% | 0.00% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -15.57% | +0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 4.21% | -0.45% |
Volatility
JPXN vs. HJPNX - Volatility Comparison
iShares JPX-Nikkei 400 ETF (JPXN) and Hennessy Japan Fund (HJPNX) have volatilities of 4.26% and 4.26%, 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
| JPXN | HJPNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.26% | 4.26% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 16.68% | -2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 22.64% | -3.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 21.00% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 18.80% | -1.74% |
JPXN vs. HJPNX - Expense Ratio Comparison
JPXN has a 0.48% expense ratio, which is lower than HJPNX's 1.44% expense ratio.
Dividends
JPXN vs. HJPNX - Dividend Comparison
JPXN's dividend yield for the trailing twelve months is around 2.71%, less than HJPNX's 10.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HJPNX Hennessy Japan Fund | 10.65% | 12.83% | 5.80% | 5.87% | 0.00% | 0.89% | 0.00% | 0.13% | 0.04% | 0.02% | 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
JPXN and HJPNX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HJPNX has higher volatility (4.26%) compared to JPXN (4.26%). In terms of maximum drawdown, JPXN dropped -55.54% vs HJPNX's -59.65%.
JPXN currently has the higher Sharpe Ratio (1.65 vs 1.45), 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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