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JPXN vs. QQQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JPXN vs. QQQ

Last updated Jun 14, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - JPXN is a Japan Equities fund tracking the JPX-Nikkei Index 400, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, JPXN returned 9.45%/yr vs 21.79%/yr for QQQ. A 0.55 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 0.18%/yr for QQQ.

Performance

JPXN vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares JPX-Nikkei 400 ETF (JPXN) and Invesco QQQ ETF (QQQ). 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 lower than QQQ's 17.57% return. Over the past 10 years, JPXN has underperformed QQQ with an annualized return of 9.45%, while QQQ has yielded a comparatively higher 21.79% annualized 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%

QQQ

1D
0.59%
1M
0.22%
YTD
17.57%
6M
17.85%
1Y
37.55%
3Y*
26.43%
5Y*
16.85%
10Y*
21.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JPXN vs. QQQ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
JPXN
iShares JPX-Nikkei 400 ETF		14.07%26.03%6.48%19.69%-16.29%0.16%15.12%19.40%-14.87%24.41%
QQQ
Invesco QQQ ETF		17.57%20.77%25.58%54.86%-32.58%27.42%48.62%38.96%-0.13%32.66%

Correlation

The correlation between JPXN and QQQ is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.58

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

0.55

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

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2001

0.55

The correlation between JPXN and QQQ has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.

JPXN vs. QQQ - Sectors Allocation Comparison

Sectors
JPXN
QQQ

Industrials

26.2%
2.6%

Technology

20.4%
58.7%

Financial Services

14.1%
0.2%

Consumer Cyclical

10.9%
11.4%

Communication Services

6.7%
14.3%

Healthcare

6.2%
3.7%

Basic Materials

5.1%
1.0%

Consumer Defensive

4.5%
6.4%

Real Estate

2.3%
0.1%

Utilities

1.5%
1.2%

Energy

1.2%
0.5%

Industrials

JPXN
26.2%
QQQ
2.6%

Technology

JPXN
20.4%
QQQ
58.7%

Financial Services

JPXN
14.1%
QQQ
0.2%

Consumer Cyclical

JPXN
10.9%
QQQ
11.4%

Communication Services

JPXN
6.7%
QQQ
14.3%

Healthcare

JPXN
6.2%
QQQ
3.7%

Basic Materials

JPXN
5.1%
QQQ
1.0%

Consumer Defensive

JPXN
4.5%
QQQ
6.4%

Real Estate

JPXN
2.3%
QQQ
0.1%

Utilities

JPXN
1.5%
QQQ
1.2%

Energy

JPXN
1.2%
QQQ
0.5%

Compare stocks, funds, or ETFs

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iShares JPX-Nikkei 400 ETF

Invesco QQQ ETF

Often compared with JPXN:
JPXN vs. EWJJPXN vs. DXJJPXN vs. FLJPJPXN vs. XDJP.DEJPXN vs. VOOJPXN vs. FJPNXJPXN vs. SCJ
Often compared with QQQ:
QQQ vs. SPYQQQ vs. VOOQQQ vs. VGTQQQ vs. TQQQQQQ vs. SMHQQQ vs. QQQMQQQ vs. QQQI

Return for Risk

JPXN vs. QQQ — 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
QQQ
QQQ Risk / Return Rank: 7171
Overall Rank
QQQ Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
QQQ Sortino Ratio Rank: 7070
Sortino Ratio Rank
QQQ Omega Ratio Rank: 7373
Omega Ratio Rank
QQQ Calmar Ratio Rank: 6969
Calmar Ratio Rank
QQQ Martin Ratio Rank: 7070
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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and Invesco QQQ ETF (QQQ). 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.

JPXNQQQDifference
Sharpe ratioReturn per unit of total volatility
1.48
2.09

-0.62

Sortino ratioReturn per unit of downside risk
2.15
2.73

-0.58

Omega ratioGain probability vs. loss probability

1.27

1.37

-0.09

Calmar ratioReturn relative to maximum drawdown

2.18

3.01

-0.83

Martin ratioReturn relative to average drawdown

7.51

11.22

-3.72

JPXN vs. QQQ - Sharpe Ratio Comparison

The current JPXN Sharpe Ratio is 1.48, which is comparable to the QQQ Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of JPXN and QQQ, 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. QQQ - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for JPXN and QQQ.

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Drawdown Indicators

JPXNQQQDifference

Max Drawdown

Largest peak-to-trough decline

-55.54%

-82.97%

+27.43%

Max Drawdown (1Y)

Largest decline over 1 year

-13.11%

-11.96%

-1.15%

Max Drawdown (3Y)

Largest decline over 3 years

-13.95%

-22.77%

+8.82%

Max Drawdown (5Y)

Largest decline over 5 years

-33.21%

-35.12%

+1.91%

Max Drawdown (10Y)

Largest decline over 10 years

-33.21%

-35.12%

+1.91%

Current Drawdown

Current decline from peak

-2.34%

-3.33%

+0.99%

Average Drawdown

Average peak-to-trough decline

-15.04%

-32.75%

+17.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.80%

3.20%

+0.60%

Volatility

JPXN vs. QQQ - Volatility Comparison

The current volatility for iShares JPX-Nikkei 400 ETF (JPXN) is 5.70%, while Invesco QQQ ETF (QQQ) has a volatility of 7.56%. This indicates that JPXN experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JPXNQQQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.70%

7.56%

-1.86%

Volatility (6M)

Calculated over the trailing 6-month period

15.42%

13.81%

+1.61%

Volatility (1Y)

Calculated over the trailing 1-year period

19.35%

17.19%

+2.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.81%

22.55%

-4.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.10%

22.38%

-5.28%

JPXN vs. QQQ - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

JPXN vs. QQQ - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.76%, more than QQQ's 0.39% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QQQ
Invesco QQQ ETF		0.39%0.45%0.56%0.62%0.80%0.43%0.55%0.74%0.91%0.84%1.06%0.99%

Frequently Asked Questions

JPXN and QQQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QQQ has higher volatility (7.56%) compared to JPXN (5.70%). In terms of maximum drawdown, JPXN dropped -55.54% vs QQQ's -82.97%.

On 10-year performance, QQQ leads with 21.79% vs 9.45% for JPXN. On fees, QQQ is cheaper at 0.18% 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 10-year period, QQQ has performed better with a 21.79% return vs 9.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQQ is cheaper with a 0.18% expense ratio, compared with 0.48% for JPXN.

JPXN has the higher dividend yield at 2.76%, compared with 0.39% for QQQ.

JPXN is categorized as Japan Equities, while QQQ is Nasdaq-100. JPXN tracks JPX-Nikkei Index 400, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.48% for JPXN and 0.18% for QQQ.

QQQ currently has the higher Sharpe Ratio (2.09 vs 1.48), 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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