JRJE.L vs. CNKY.L

Last updated Jun 26, 2026

JRJE.L (JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) and CNKY.L (iShares Nikkei 225 UCITS ETF (Acc)) are both Japan Equities funds tracking the TOPIX TR JPY, from JPMorgan and iShares respectively. Both are passively managed. Over the past 3 years, JRJE.L returned 17.56%/yr vs 24.51%/yr for CNKY.L. Their correlation of 0.88 suggests significant overlap in exposure. JRJE.L charges 0.25%/yr vs 0.48%/yr for CNKY.L.

Performance

JRJE.L vs. CNKY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.L) and iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRJE.L achieves a 19.44% return, which is significantly lower than CNKY.L's 40.32% return.

JRJE.L

• 1D: 0.50%
• 1M: 3.52%
• YTD: 19.44%
• 6M: 19.65%
• 1Y: 39.05%
• 3Y*: 17.56%
• 5Y*: —
• 10Y*: —

CNKY.L

• 1D: 2.04%
• 1M: 9.44%
• YTD: 40.32%
• 6M: 40.20%
• 1Y: 71.55%
• 3Y*: 24.51%
• 5Y*: 13.44%
• 10Y*: 12.83%

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

JRJE.L vs. CNKY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JRJE.L JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)	19.44%	15.91%	9.56%	13.90%	-0.96%
CNKY.L iShares Nikkei 225 UCITS ETF (Acc)	40.32%	20.64%	9.15%	15.02%	-5.12%

Correlation

The correlation between JRJE.L and CNKY.L is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.88

The correlation between JRJE.L and CNKY.L has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

JRJE.L vs. CNKY.L - Sectors Allocation Comparison

Sectors	JRJE.L	CNKY.L
Industrials	25.0%	18.2%
Technology	19.9%	33.3%
Financial Services	17.6%	2.9%
Consumer Cyclical	12.5%	16.6%
Communication Services	8.2%	14.3%
Healthcare	6.5%	6.1%
Consumer Defensive	3.5%	2.9%
Basic Materials	2.7%	4.1%
Real Estate	1.9%	1.2%
Energy	1.2%	0.3%
Utilities	1.0%	0.2%

Return for Risk

JRJE.L vs. CNKY.L — Risk / Return Rank

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

JRJE.L

JRJE.L Risk / Return Rank: 73
JRJE.L Sharpe Ratio Rank: 73
JRJE.L Sortino Ratio Rank: 71
JRJE.L Omega Ratio Rank: 73
JRJE.L Calmar Ratio Rank: 79
JRJE.L Martin Ratio Rank: 71

CNKY.L

CNKY.L Risk / Return Rank: 90
CNKY.L Sharpe Ratio Rank: 93
CNKY.L Sortino Ratio Rank: 92
CNKY.L Omega Ratio Rank: 88
CNKY.L Calmar Ratio Rank: 92
CNKY.L Martin Ratio Rank: 86

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.

JRJE.L vs. CNKY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.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.

	JRJE.L	CNKY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.95	-0.90
Sortino ratio: Return per unit of downside risk	2.82	3.89	-1.06
Omega ratio: Gain probability vs. loss probability	1.38	1.48	-0.10
Calmar ratio: Return relative to maximum drawdown	3.66	5.34	-1.69
Martin ratio: Return relative to average drawdown	11.59	15.91	-4.32

JRJE.L vs. CNKY.L - Sharpe Ratio Comparison

The current JRJE.L Sharpe Ratio is 2.05, which is lower than the CNKY.L Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of JRJE.L and CNKY.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

JRJE.L vs. CNKY.L - Drawdown Comparison

The maximum JRJE.L drawdown since its inception was -14.26%, smaller than the maximum CNKY.L drawdown of -99.40%. Use the drawdown chart below to compare losses from any high point for JRJE.L and CNKY.L.

Drawdown Indicators

	JRJE.L	CNKY.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.26%	-99.40%	+85.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.63%	-13.32%	+2.69%
Max Drawdown (3Y) Largest decline over 3 years	-14.26%	-19.39%	+5.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.61%	—
Current Drawdown Current decline from peak	-3.07%	-96.44%	+93.37%
Average Drawdown Average peak-to-trough decline	-3.25%	-95.11%	+91.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	4.48%	-1.12%

Volatility

JRJE.L vs. CNKY.L - Volatility Comparison

The current volatility for JPMorgan Japan Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRJE.L) is 6.50%, while iShares Nikkei 225 UCITS ETF (Acc) (CNKY.L) has a volatility of 9.49%. This indicates that JRJE.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.

Volatility by Period

	JRJE.L	CNKY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	9.49%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	19.72%	-4.14%
Volatility (1Y) Calculated over the trailing 1-year period	18.93%	24.14%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	18.18%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	17.36%	-1.16%

JRJE.L vs. CNKY.L - Expense Ratio Comparison

JRJE.L has a 0.25% expense ratio, which is lower than CNKY.L's 0.48% expense ratio.

Dividends

JRJE.L vs. CNKY.L - Dividend Comparison

Neither JRJE.L nor CNKY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JRJE.L and CNKY.L in my portfolio?

JRJE.L and CNKY.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRJE.L or CNKY.L?

On fees, JRJE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRJE.L or CNKY.L?

JRJE.L is cheaper with a 0.25% expense ratio, compared with 0.48% for CNKY.L.

What is the main difference between JRJE.L and CNKY.L?

Both ETFs track TOPIX TR JPY. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRJE.L and 0.48% for CNKY.L.