JPY vs. JPXN
JPY (Lazard Japanese Equity ETF) and JPXN (iShares JPX-Nikkei 400 ETF) are both Japan Equities funds. JPY is actively managed, while JPXN is passively managed. Over the past year, JPY returned 35.20% vs 32.04% for JPXN. Their correlation of 0.94 suggests significant overlap in exposure. JPY charges 0.60%/yr vs 0.48%/yr for JPXN.
Performance
JPY vs. JPXN - Performance Comparison
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Returns By Period
In the year-to-date period, JPY achieves a 17.59% return, which is significantly higher than JPXN's 15.50% return.
JPY
- 1D
- -1.18%
- 1M
- 1.83%
- 6M
- 11.98%
- YTD
- 17.59%
- 1Y
- 35.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPXN
- 1D
- -1.61%
- 1M
- 1.25%
- 6M
- 9.46%
- YTD
- 15.50%
- 1Y
- 32.04%
- 3Y*
- 17.34%
- 5Y*
- 8.86%
- 10Y*
- 9.02%
JPY vs. JPXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JPY Lazard Japanese Equity ETF | 17.59% | 39.95% |
JPXN iShares JPX-Nikkei 400 ETF | 15.50% | 34.97% |
Correlation
The correlation between JPY and JPXN is 0.94, 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 | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025 | 0.94 |
The correlation between JPY and JPXN has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
JPY vs. JPXN — Risk / Return Rank
JPY
JPXN
JPY vs. JPXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Japanese Equity ETF (JPY) and iShares JPX-Nikkei 400 ETF (JPXN). 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.
| JPY | JPXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.46 | -0.12 |
| Martin ratioReturn relative to average drawdown | 7.92 | 8.51 | -0.59 |
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Drawdowns
JPY vs. JPXN - Drawdown Comparison
The maximum JPY drawdown since its inception was -15.13%, smaller than the maximum JPXN drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for JPY and JPXN.
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Drawdown Indicators
| JPY | JPXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -55.54% | +40.41% |
Max Drawdown (1Y)Largest decline over 1 year | -15.13% | -13.11% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.21% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.21% | — |
Current DrawdownCurrent decline from peak | -1.77% | -2.86% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -15.00% | +12.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 3.78% | +0.68% |
Volatility
JPY vs. JPXN - Volatility Comparison
The current volatility for Lazard Japanese Equity ETF (JPY) is 5.83%, while iShares JPX-Nikkei 400 ETF (JPXN) has a volatility of 6.55%. This indicates that JPY experiences smaller price fluctuations and is considered to be less risky than JPXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPY | JPXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 6.55% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 15.93% | 16.15% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.32% | 19.70% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.04% | 17.90% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.04% | 17.06% | +3.98% |
JPY vs. JPXN - Expense Ratio Comparison
JPY has a 0.60% expense ratio, which is higher than JPXN's 0.48% expense ratio.
Dividends
JPY vs. JPXN - Dividend Comparison
JPY's dividend yield for the trailing twelve months is around 1.18%, less than JPXN's 2.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPXN iShares JPX-Nikkei 400 ETF | 2.77% | 3.14% | 2.29% | 2.57% | 1.47% | 2.63% | 1.27% | 1.92% | 1.60% | 1.50% | 2.07% | 1.32% |
JPY Lazard Japanese Equity ETF | 1.18% | 2.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, JPY and JPXN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JPXN has higher volatility (6.55%) compared to JPY (5.83%). In terms of maximum drawdown, JPY dropped -15.13% vs JPXN's -55.54%.
On 1-year performance, JPY leads with 35.20% vs 32.04% for JPXN. On fees, JPXN is cheaper at 0.48% per year. On volatility, JPY has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JPY has performed better with a 35.20% return vs 32.04%. 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 0.60% for JPY.
JPXN has the higher dividend yield at 2.77%, compared with 1.18% for JPY.
They also come from different issuers: Lazard and iShares. Their fees differ too: 0.60% for JPY and 0.48% for JPXN.
JPY currently has the higher Sharpe Ratio (1.74 vs 1.64), 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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