JPXN vs. VOOG

Last updated Jun 5, 2026

JPXN (iShares JPX-Nikkei 400 ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both exchange-traded funds - JPXN is a Japan Equities fund tracking the JPX-Nikkei Index 400, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, JPXN returned 9.05%/yr vs 18.10%/yr for VOOG. A 0.60 correlation means they provide meaningful diversification when combined. JPXN charges 0.48%/yr vs 0.07%/yr for VOOG.

Performance

JPXN vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares JPX-Nikkei 400 ETF (JPXN) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPXN achieves a 15.82% return, which is significantly higher than VOOG's 13.70% return. Over the past 10 years, JPXN has underperformed VOOG with an annualized return of 9.05%, while VOOG has yielded a comparatively higher 18.10% 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%

VOOG

• 1D: -0.07%
• 1M: 6.55%
• YTD: 13.70%
• 6M: 13.08%
• 1Y: 33.67%
• 3Y*: 28.14%
• 5Y*: 16.01%
• 10Y*: 18.10%

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

JPXN vs. VOOG - 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%
VOOG Vanguard S&P 500 Growth ETF	13.70%	22.11%	35.89%	29.96%	-29.48%	31.95%	33.35%	30.93%	-0.21%	27.19%

Correlation

The correlation between JPXN and VOOG is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.60

The correlation between JPXN and VOOG has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

JPXN vs. VOOG - Sectors Allocation Comparison

Sectors	JPXN	VOOG
Industrials	28.3%	6.2%
Technology	17.3%	49.4%
Financial Services	13.7%	8.8%
Consumer Cyclical	11.3%	9.4%
Communication Services	7.8%	18.0%
Healthcare	6.2%	5.8%
Basic Materials	5.0%	0.4%
Consumer Defensive	4.8%	1.0%
Real Estate	2.8%	0.6%
Utilities	1.6%	0.4%
Energy	1.4%	0.1%

Return for Risk

JPXN vs. VOOG — Risk / Return Rank

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

JPXN

JPXN Risk / Return Rank: 49
JPXN Sharpe Ratio Rank: 49
JPXN Sortino Ratio Rank: 50
JPXN Omega Ratio Rank: 50
JPXN Calmar Ratio Rank: 49
JPXN Martin Ratio Rank: 50

VOOG

VOOG Risk / Return Rank: 60
VOOG Sharpe Ratio Rank: 66
VOOG Sortino Ratio Rank: 63
VOOG Omega Ratio Rank: 62
VOOG Calmar Ratio Rank: 51
VOOG Martin Ratio Rank: 59

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. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares JPX-Nikkei 400 ETF (JPXN) and Vanguard S&P 500 Growth ETF (VOOG). 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	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.13	-0.49
Sortino ratio: Return per unit of downside risk	2.39	2.89	-0.50
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.36	2.47	-0.11
Martin ratio: Return relative to average drawdown	8.20	10.20	-2.00
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. VOOG - Sharpe Ratio Comparison

The current JPXN Sharpe Ratio is 1.65, which is comparable to the VOOG Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JPXN and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPXN	VOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	2.13	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.76	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.88	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.91	-0.64

Drawdowns

JPXN vs. VOOG - Drawdown Comparison

The maximum JPXN drawdown since its inception was -55.54%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for JPXN and VOOG.

Drawdown Indicators

	JPXN	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-55.54%	-32.73%	-22.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.11%	-13.71%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-13.95%	-22.18%	+8.23%
Max Drawdown (5Y) Largest decline over 5 years	-33.21%	-32.73%	-0.48%
Max Drawdown (10Y) Largest decline over 10 years	-33.21%	-32.73%	-0.48%
Current Drawdown Current decline from peak	-0.84%	-1.15%	+0.31%
Average Drawdown Average peak-to-trough decline	-15.06%	-4.97%	-10.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	3.31%	+0.45%

Volatility

JPXN vs. VOOG - Volatility Comparison

iShares JPX-Nikkei 400 ETF (JPXN) and Vanguard S&P 500 Growth ETF (VOOG) have volatilities of 4.26% and 4.31%, 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.

Volatility by Period

	JPXN	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.31%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	12.41%	+2.27%
Volatility (1Y) Calculated over the trailing 1-year period	18.76%	15.84%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	21.18%	-3.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	20.72%	-3.66%

JPXN vs. VOOG - Expense Ratio Comparison

JPXN has a 0.48% expense ratio, which is higher than VOOG's 0.07% expense ratio.

Dividends

JPXN vs. VOOG - Dividend Comparison

JPXN's dividend yield for the trailing twelve months is around 2.71%, more than VOOG's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOOG Vanguard S&P 500 Growth ETF	0.44%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both JPXN and VOOG in my portfolio?

JPXN and VOOG have a correlation of 0.55, 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 VOOG?

VOOG has higher volatility (4.31%) compared to JPXN (4.26%). In terms of maximum drawdown, JPXN dropped -55.54% vs VOOG's -32.73%.

Which ETF is better, JPXN or VOOG?

On 10-year performance, VOOG leads with 18.10% vs 9.05% for JPXN. On fees, VOOG is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPXN or VOOG?

Over the 10-year period, VOOG has performed better with a 18.10% return vs 9.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPXN or VOOG?

VOOG is cheaper with a 0.07% expense ratio, compared with 0.48% for JPXN.

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

JPXN has the higher dividend yield at 2.71%, compared with 0.44% for VOOG.

What is the main difference between JPXN and VOOG?

JPXN is categorized as Japan Equities, while VOOG is S&P 500. JPXN tracks JPX-Nikkei Index 400, while VOOG tracks S&P 500 Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.48% for JPXN and 0.07% for VOOG.

Which has better risk-adjusted returns?

VOOG currently has the higher Sharpe Ratio (2.13 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.