JREA.L vs. CNKY.L
JREA.L (JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc)) and CNKY.L (iShares Nikkei 225 UCITS ETF (Acc)) are both Japan Equities funds. JREA.L is actively managed, while CNKY.L is passively managed. Over the past 3 years, JREA.L returned 19.71%/yr vs 22.74%/yr for CNKY.L. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
JREA.L vs. CNKY.L - Performance Comparison
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Different Trading Currencies
JREA.L is traded in USD, while CNKY.L is traded in GBp. To make them comparable, the CNKY.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JREA.L achieves a 23.48% return, which is significantly lower than CNKY.L's 30.57% return.
JREA.L
- 1D
- -0.40%
- 1M
- -5.46%
- 6M
- 18.37%
- YTD
- 23.48%
- 1Y
- 39.13%
- 3Y*
- 19.71%
- 5Y*
- —
- 10Y*
- —
CNKY.L
- 1D
- -0.72%
- 1M
- -3.34%
- 6M
- 22.94%
- YTD
- 30.57%
- 1Y
- 58.52%
- 3Y*
- 22.74%
- 5Y*
- 11.88%
- 10Y*
- 11.66%
JREA.L vs. CNKY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREA.L JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 23.48% | 29.63% | 8.81% | 4.45% | -11.27% |
CNKY.L iShares Nikkei 225 UCITS ETF (Acc) | 30.57% | 29.74% | 7.33% | 21.09% | -13.01% |
Correlation
The correlation between JREA.L and CNKY.L is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2022 | 0.62 |
The correlation between JREA.L and CNKY.L shifts across timeframes, from 0.62 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JREA.L vs. CNKY.L — Risk / Return Rank
JREA.L
CNKY.L
JREA.L vs. CNKY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREA.L) and iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L). 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.
| JREA.L | CNKY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.35 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 3.81 | -0.50 |
| Martin ratioReturn relative to average drawdown | 10.37 | 11.92 | -1.55 |
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Drawdowns
JREA.L vs. CNKY.L - Drawdown Comparison
The maximum JREA.L drawdown since its inception was -28.16%, smaller than the maximum CNKY.L drawdown of -99.39%. Use the drawdown chart below to compare losses from any high point for JREA.L and CNKY.L.
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Drawdown Indicators
| JREA.L | CNKY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.16% | -99.39% | +71.23% |
Max Drawdown (1Y)Largest decline over 1 year | -11.77% | -15.28% | +3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -18.58% | -19.43% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.20% | — |
Current DrawdownCurrent decline from peak | -7.65% | -97.11% | +89.46% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -95.37% | +86.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 4.89% | -1.13% |
Volatility
JREA.L vs. CNKY.L - Volatility Comparison
The current volatility for JPM AC Asia Pacific ex Japan Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREA.L) is 9.04%, while iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L) has a volatility of 9.89%. This indicates that JREA.L experiences smaller price fluctuations and is considered to be less risky than CNKY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREA.L | CNKY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.04% | 9.89% | -0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 19.03% | 22.01% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.16% | 26.83% | -5.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.58% | 20.56% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 18.73% | +0.85% |
Dividends
JREA.L vs. CNKY.L - Dividend Comparison
Neither JREA.L nor CNKY.L has paid dividends to shareholders.
Frequently Asked Questions
JREA.L and CNKY.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: ETF Issuer and iShares.
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