N4US.L vs. EEJD.L
N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) and EEJD.L (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) are both Japan Equities funds - N4US.L tracks the JPX-Nikkei 400 USD Hedged Index while EEJD.L tracks the MSCI Japan ESG Enhanced CTB Index. Both are passively managed. Over the past 5 years, N4US.L returned 21.88%/yr vs 8.20%/yr for EEJD.L. Their correlation of 0.83 suggests significant overlap in exposure. N4US.L charges 0.19%/yr vs 0.15%/yr for EEJD.L.
Performance
N4US.L vs. EEJD.L - Performance Comparison
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Returns By Period
In the year-to-date period, N4US.L achieves a 18.80% return, which is significantly higher than EEJD.L's 13.28% return.
N4US.L
- 1D
- -2.01%
- 1M
- -2.75%
- 6M
- 11.38%
- YTD
- 18.80%
- 1Y
- 45.47%
- 3Y*
- 27.49%
- 5Y*
- 21.88%
- 10Y*
- 16.34%
EEJD.L
- 1D
- -2.38%
- 1M
- -4.98%
- 6M
- 7.12%
- YTD
- 13.28%
- 1Y
- 31.33%
- 3Y*
- 15.43%
- 5Y*
- 8.20%
- 10Y*
- —
N4US.L vs. EEJD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 18.80% | 30.25% | 23.77% | 35.97% | -1.05% | 11.18% | 10.79% | 11.56% |
EEJD.L iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 13.28% | 26.10% | 4.67% | 19.98% | -17.73% | 0.41% | 17.33% | 15.33% |
Correlation
The correlation between N4US.L and EEJD.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.83 |
The correlation between N4US.L and EEJD.L has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
N4US.L vs. EEJD.L — Risk / Return Rank
N4US.L
EEJD.L
N4US.L vs. EEJD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) and iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EEJD.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.
| N4US.L | EEJD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.26 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.84 | 2.40 | +2.44 |
| Martin ratioReturn relative to average drawdown | 16.48 | 7.86 | +8.62 |
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Drawdowns
N4US.L vs. EEJD.L - Drawdown Comparison
The maximum N4US.L drawdown since its inception was -30.94%, smaller than the maximum EEJD.L drawdown of -32.93%. Use the drawdown chart below to compare losses from any high point for N4US.L and EEJD.L.
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Drawdown Indicators
| N4US.L | EEJD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -32.93% | +1.99% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -12.98% | +3.63% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -14.11% | -7.27% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -32.93% | +11.55% |
Max Drawdown (10Y)Largest decline over 10 years | -30.94% | — | — |
Current DrawdownCurrent decline from peak | -4.48% | -6.32% | +1.84% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -8.12% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 3.98% | -1.23% |
Volatility
N4US.L vs. EEJD.L - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) is 6.15%, while iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EEJD.L) has a volatility of 7.02%. This indicates that N4US.L experiences smaller price fluctuations and is considered to be less risky than EEJD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| N4US.L | EEJD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 7.02% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 15.63% | 18.58% | -2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 22.32% | -2.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.50% | 18.51% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 18.80% | -0.42% |
N4US.L vs. EEJD.L - Expense Ratio Comparison
N4US.L has a 0.19% expense ratio, which is higher than EEJD.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
N4US.L vs. EEJD.L - Dividend Comparison
N4US.L has not paid dividends to shareholders, while EEJD.L's dividend yield for the trailing twelve months is around 1.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EEJD.L iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 1.49% | 1.58% | 1.83% | 1.74% | 2.13% | 1.71% | 1.55% | 1.73% |
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
N4US.L and EEJD.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EEJD.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EEJD.L is cheaper with a 0.15% expense ratio, compared with 0.19% for N4US.L.
N4US.L tracks JPX-Nikkei 400 USD Hedged Index, while EEJD.L tracks MSCI Japan ESG Enhanced CTB Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for N4US.L and 0.15% for EEJD.L.
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