JPXN vs. SOXX

Last updated Jun 26, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - JPXN is a Japan Equities fund tracking the JPX-Nikkei Index 400, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. Both are passively managed. Over the past 10 years, JPXN returned 9.40%/yr vs 37.13%/yr for SOXX. A 0.51 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 0.34%/yr for SOXX.

Performance

JPXN vs. SOXX - Performance Comparison

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

Returns By Period

In the year-to-date period, JPXN achieves a 15.09% return, which is significantly lower than SOXX's 107.83% return. Over the past 10 years, JPXN has underperformed SOXX with an annualized return of 9.40%, while SOXX has yielded a comparatively higher 37.13% annualized return.

JPXN

• 1D: 0.45%
• 1M: -0.28%
• YTD: 15.09%
• 6M: 14.66%
• 1Y: 31.44%
• 3Y*: 18.03%
• 5Y*: 8.83%
• 10Y*: 9.40%

SOXX

• 1D: 3.94%
• 1M: 9.72%
• YTD: 107.83%
• 6M: 104.44%
• 1Y: 164.79%
• 3Y*: 57.87%
• 5Y*: 34.72%
• 10Y*: 37.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JPXN vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPXN iShares JPX-Nikkei 400 ETF	15.09%	26.03%	6.48%	19.69%	-16.29%	0.16%	15.12%	19.40%	-14.87%	24.41%
SOXX iShares Semiconductor ETF	107.83%	40.74%	12.92%	67.12%	-35.09%	44.09%	52.72%	62.42%	-6.49%	39.79%

Correlation

The correlation between JPXN and SOXX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Oct 26, 2001	0.51

The correlation between JPXN and SOXX has been stable across timeframes, ranging from 0.50 to 0.55 - a consistent structural relationship.

JPXN vs. SOXX - Sectors Allocation Comparison

Sectors	JPXN	SOXX
Industrials	25.4%	-
Technology	20.9%	100.0%
Financial Services	16.6%	-
Consumer Cyclical	9.7%	-
Communication Services	7.3%	-
Healthcare	6.1%	-
Basic Materials	4.3%	-
Consumer Defensive	4.1%	-
Real Estate	2.2%	-
Utilities	1.4%	-
Energy	1.1%	-

Return for Risk

JPXN vs. SOXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JPXN

JPXN Risk / Return Rank: 55
JPXN Sharpe Ratio Rank: 54
JPXN Sortino Ratio Rank: 54
JPXN Omega Ratio Rank: 55
JPXN Calmar Ratio Rank: 56
JPXN Martin Ratio Rank: 54

SOXX

SOXX Risk / Return Rank: 96
SOXX Sharpe Ratio Rank: 97
SOXX Sortino Ratio Rank: 94
SOXX Omega Ratio Rank: 94
SOXX Calmar Ratio Rank: 98
SOXX Martin Ratio Rank: 97

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. SOXX - Risk-Adjusted Trends Comparison

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

	JPXN	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	4.20	-2.59
Sortino ratio: Return per unit of downside risk	2.28	4.10	-1.82
Omega ratio: Gain probability vs. loss probability	1.30	1.59	-0.29
Calmar ratio: Return relative to maximum drawdown	2.41	10.52	-8.11
Martin ratio: Return relative to average drawdown	8.27	37.47	-29.20

JPXN vs. SOXX - Sharpe Ratio Comparison

The current JPXN Sharpe Ratio is 1.61, which is lower than the SOXX Sharpe Ratio of 4.20. The chart below compares the historical Sharpe Ratios of JPXN and SOXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JPXN vs. SOXX - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for JPXN and SOXX.

Drawdown Indicators

	JPXN	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-70.21%	+14.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-15.77%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	-41.36%	+27.41%
Max Drawdown (5Y) Largest decline over 5 years	-33.21%	-45.75%	+12.54%
Max Drawdown (10Y) Largest decline over 10 years	-33.21%	-45.75%	+12.54%
Current Drawdown Current decline from peak	-3.20%	-4.55%	+1.35%
Average Drawdown Average peak-to-trough decline	-15.03%	-19.93%	+4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	4.42%	-0.61%

Volatility

JPXN vs. SOXX - Volatility Comparison

The current volatility for iShares JPX-Nikkei 400 ETF (JPXN) is 6.78%, while iShares Semiconductor ETF (SOXX) has a volatility of 22.27%. This indicates that JPXN experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPXN	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.78%	22.27%	-15.49%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	33.54%	-17.69%
Volatility (1Y) Calculated over the trailing 1-year period	19.62%	39.44%	-19.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	37.24%	-19.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	34.00%	-16.96%

JPXN vs. SOXX - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

JPXN vs. SOXX - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.78%, more than SOXX's 0.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPXN iShares JPX-Nikkei 400 ETF	2.78%	3.14%	2.29%	2.57%	1.47%	2.63%	1.27%	1.92%	1.60%	1.50%	2.07%	1.32%
SOXX iShares Semiconductor ETF	0.23%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both JPXN and SOXX in my portfolio?

JPXN and SOXX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPXN or SOXX?

SOXX has higher volatility (22.27%) compared to JPXN (6.78%). In terms of maximum drawdown, JPXN dropped -55.54% vs SOXX's -70.21%.

Which ETF is better, JPXN or SOXX?

On 10-year performance, SOXX leads with 37.13% vs 9.40% for JPXN. On fees, SOXX is cheaper at 0.34% per year. On volatility, JPXN has been the lower-risk option at 6.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPXN or SOXX?

Over the 10-year period, SOXX has performed better with a 37.13% return vs 9.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPXN or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.48% for JPXN.

Which ETF pays a higher dividend yield, JPXN or SOXX?

JPXN has the higher dividend yield at 2.78%, compared with 0.23% for SOXX.

What is the main difference between JPXN and SOXX?

JPXN is categorized as Japan Equities, while SOXX is Semiconductors. JPXN tracks JPX-Nikkei Index 400, while SOXX tracks NYSE Semiconductor Index. Their fees differ too: 0.48% for JPXN and 0.34% for SOXX.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (4.20 vs 1.61), 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.