JREJ.L vs. XDJP.L

Last updated Jul 16, 2026

JREJ.L (JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc)) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both Japan Equities funds. JREJ.L is actively managed, while XDJP.L is passively managed. Over the past 3 years, JREJ.L returned 17.38%/yr vs 23.27%/yr for XDJP.L. Their correlation of 0.87 suggests significant overlap in exposure.

Performance

JREJ.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREJ.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

JREJ.L is traded in USD, while XDJP.L is traded in GBp. To make them comparable, the XDJP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, JREJ.L achieves a 15.17% return, which is significantly lower than XDJP.L's 31.03% return.

JREJ.L

• 1D: -1.74%
• 1M: -1.92%
• 6M: 8.74%
• YTD: 15.17%
• 1Y: 33.48%
• 3Y*: 17.38%
• 5Y*: —
• 10Y*: —

XDJP.L

• 1D: -0.75%
• 1M: -3.10%
• 6M: 23.29%
• YTD: 31.03%
• 1Y: 59.23%
• 3Y*: 23.27%
• 5Y*: 12.35%
• 10Y*: 12.12%

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

JREJ.L vs. XDJP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JREJ.L JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc)	15.17%	24.21%	7.80%	20.39%	-10.13%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	31.03%	30.18%	7.85%	21.61%	-11.74%

Correlation

The correlation between JREJ.L and XDJP.L is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022	0.87

The correlation between JREJ.L and XDJP.L has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

JREJ.L vs. XDJP.L — Risk / Return Rank

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

JREJ.L

JREJ.L Risk / Return Rank: 60
JREJ.L Sharpe Ratio Rank: 56
JREJ.L Sortino Ratio Rank: 59
JREJ.L Omega Ratio Rank: 57
JREJ.L Calmar Ratio Rank: 68
JREJ.L Martin Ratio Rank: 62

XDJP.L

XDJP.L Risk / Return Rank: 85
XDJP.L Sharpe Ratio Rank: 88
XDJP.L Sortino Ratio Rank: 85
XDJP.L Omega Ratio Rank: 81
XDJP.L Calmar Ratio Rank: 89
XDJP.L Martin Ratio Rank: 79

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.

JREJ.L vs. XDJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREJ.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.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.

	JREJ.L	XDJP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.21	-0.67
Sortino ratio: Return per unit of downside risk	2.26	3.00	-0.74
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.08
Calmar ratio: Return relative to maximum drawdown	2.76	3.84	-1.08
Martin ratio: Return relative to average drawdown	8.78	12.02	-3.25

JREJ.L vs. XDJP.L - Sharpe Ratio Comparison

The current JREJ.L Sharpe Ratio is 1.55, which is lower than the XDJP.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of JREJ.L and XDJP.L, 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

JREJ.L vs. XDJP.L - Drawdown Comparison

The maximum JREJ.L drawdown since its inception was -20.61%, smaller than the maximum XDJP.L drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for JREJ.L and XDJP.L.

Drawdown Indicators

	JREJ.L	XDJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.61%	-99.99%	+79.38%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-15.36%	+3.27%
Max Drawdown (3Y) Largest decline over 3 years	-14.89%	-19.06%	+4.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.97%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.79%	—
Current Drawdown Current decline from peak	-5.23%	-99.97%	+94.74%
Average Drawdown Average peak-to-trough decline	-4.87%	-99.41%	+94.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	4.91%	-1.10%

Volatility

JREJ.L vs. XDJP.L - Volatility Comparison

The current volatility for JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc) (JREJ.L) is 6.97%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 10.04%. This indicates that JREJ.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JREJ.L	XDJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	10.04%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	21.79%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	21.56%	26.64%	-5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	20.52%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.54%	18.74%	-0.20%

Dividends

JREJ.L vs. XDJP.L - Dividend Comparison

JREJ.L has not paid dividends to shareholders, while XDJP.L's dividend yield for the trailing twelve months is around 1.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JREJ.L JPMorgan ETFs (Ireland) ICAV - Japan Research Enhanced Index Equity Active UCITS ETF USD (acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	1.05%	1.33%	1.41%	1.60%	2.47%	1.20%	1.11%	1.13%	1.24%	0.72%	0.83%	0.16%

Frequently Asked Questions

Can I hold both JREJ.L and XDJP.L in my portfolio?

JREJ.L and XDJP.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between JREJ.L and XDJP.L?

They also come from different issuers: JPMorgan and Xtrackers.