N4US.L vs. JARI.L
N4US.L (Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc)) and JARI.L (Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C)) are both Japan Equities funds - N4US.L tracks the JPX-Nikkei 400 USD Hedged Index while JARI.L tracks the TOPIX TR JPY. Both are passively managed. Over the past 5 years, N4US.L returned 21.88%/yr vs 1.47%/yr for JARI.L. A 0.71 correlation means they provide meaningful diversification when combined. N4US.L charges 0.19%/yr vs 0.18%/yr for JARI.L.
Performance
N4US.L vs. JARI.L - Performance Comparison
Loading charts...
Different Trading Currencies
N4US.L is traded in USD, while JARI.L is traded in GBp. To make them comparable, the JARI.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, N4US.L achieves a 18.80% return, which is significantly higher than JARI.L's 5.77% 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%
JARI.L
- 1D
- -1.50%
- 1M
- 1.68%
- 6M
- 2.91%
- YTD
- 5.77%
- 1Y
- 16.49%
- 3Y*
- 5.50%
- 5Y*
- 1.47%
- 10Y*
- —
N4US.L vs. JARI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
N4US.L Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) | 18.80% | 30.25% | 23.77% | 35.97% | -1.05% | 11.18% | 10.98% |
JARI.L Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) | 5.77% | 18.35% | -3.91% | 10.54% | -20.32% | -28.83% | 20.42% |
Correlation
The correlation between N4US.L and JARI.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2020 | 0.71 |
The correlation between N4US.L and JARI.L has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
N4US.L vs. JARI.L — Risk / Return Rank
N4US.L
JARI.L
N4US.L vs. JARI.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 Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) (JARI.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 | JARI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.16 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.84 | 1.35 | +3.49 |
| Martin ratioReturn relative to average drawdown | 16.48 | 3.74 | +12.74 |
Loading charts...
Drawdowns
N4US.L vs. JARI.L - Drawdown Comparison
The maximum N4US.L drawdown since its inception was -30.94%, smaller than the maximum JARI.L drawdown of -52.48%. Use the drawdown chart below to compare losses from any high point for N4US.L and JARI.L.
Loading charts...
Drawdown Indicators
| N4US.L | JARI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -52.48% | +21.54% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -12.14% | +2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -15.93% | -5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -35.12% | +13.74% |
Max Drawdown (10Y)Largest decline over 10 years | -30.94% | — | — |
Current DrawdownCurrent decline from peak | -4.48% | -29.66% | +25.18% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -37.31% | +30.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 4.40% | -1.65% |
Volatility
N4US.L vs. JARI.L - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF USD Hedged (Acc) (N4US.L) has a higher volatility of 6.15% compared to Amundi Index MSCI Japan SRI PAB UCITS ETF DR (C) (JARI.L) at 5.72%. This indicates that N4US.L's price experiences larger fluctuations and is considered to be riskier than JARI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| N4US.L | JARI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 5.72% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 15.63% | 15.64% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 19.49% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.50% | 17.45% | +1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 21.63% | -3.25% |
N4US.L vs. JARI.L - Expense Ratio Comparison
N4US.L has a 0.19% expense ratio, which is higher than JARI.L's 0.18% 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. JARI.L - Dividend Comparison
Neither N4US.L nor JARI.L has paid dividends to shareholders.
Frequently Asked Questions
N4US.L and JARI.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JARI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JARI.L is cheaper with a 0.18% expense ratio, compared with 0.19% for N4US.L.
N4US.L tracks JPX-Nikkei 400 USD Hedged Index, while JARI.L tracks TOPIX TR JPY. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.19% for N4US.L and 0.18% for JARI.L.
Find the right allocation for N4US.L and JARI.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer