N4US.L vs. XDEV.L
N4US.L (Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg)) and XDEV.L (Xtrackers MSCI World Value Factor UCITS ETF 1C) are both Global Equities funds - N4US.L tracks the Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) while XDEV.L tracks the MSCI ACWI Value NR USD. Both are passively managed. Over the past 10 years, N4US.L returned 16.63%/yr vs 12.23%/yr for XDEV.L. A 0.68 correlation means they provide meaningful diversification when combined. N4US.L charges 0.19%/yr vs 0.25%/yr for XDEV.L.
Performance
N4US.L vs. XDEV.L - Performance Comparison
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Different Trading Currencies
N4US.L is traded in USD, while XDEV.L is traded in GBp. To make them comparable, the XDEV.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 22.05% return, which is significantly lower than XDEV.L's 30.33% return. Over the past 10 years, N4US.L has outperformed XDEV.L with an annualized return of 16.63%, while XDEV.L has yielded a comparatively lower 12.23% annualized return.
N4US.L
- 1D
- -0.97%
- 1M
- 1.76%
- 6M
- 14.49%
- YTD
- 22.05%
- 1Y
- 50.55%
- 3Y*
- 29.24%
- 5Y*
- 22.54%
- 10Y*
- 16.63%
XDEV.L
- 1D
- -1.10%
- 1M
- -3.59%
- 6M
- 26.45%
- YTD
- 30.33%
- 1Y
- 57.83%
- 3Y*
- 26.88%
- 5Y*
- 16.75%
- 10Y*
- 12.23%
N4US.L vs. XDEV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
N4US.L Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) | 22.05% | 30.25% | 23.77% | 35.97% | -1.05% | 11.18% | 10.79% | 19.49% | -15.75% | 22.99% |
XDEV.L Xtrackers MSCI World Value Factor UCITS ETF 1C | 30.33% | 40.36% | 5.01% | 19.23% | -9.79% | 20.57% | -4.03% | 19.16% | -14.37% | 22.56% |
Correlation
The correlation between N4US.L and XDEV.L is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.68 |
The correlation between N4US.L and XDEV.L has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.
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Return for Risk
N4US.L vs. XDEV.L — Risk / Return Rank
N4US.L
XDEV.L
N4US.L vs. XDEV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) (N4US.L) and Xtrackers MSCI World Value Factor UCITS ETF 1C (XDEV.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 | XDEV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.62 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 5.38 | 6.59 | -1.21 |
| Martin ratioReturn relative to average drawdown | 18.45 | 23.86 | -5.41 |
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Drawdowns
N4US.L vs. XDEV.L - Drawdown Comparison
The maximum N4US.L drawdown since its inception was -30.94%, smaller than the maximum XDEV.L drawdown of -50.32%. Use the drawdown chart below to compare losses from any high point for N4US.L and XDEV.L.
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Drawdown Indicators
| N4US.L | XDEV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -50.32% | +19.38% |
Max Drawdown (1Y)Largest decline over 1 year | -9.35% | -8.73% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -21.38% | -18.80% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.38% | -26.72% | +5.34% |
Max Drawdown (10Y)Largest decline over 10 years | -30.94% | -41.02% | +10.08% |
Current DrawdownCurrent decline from peak | -1.87% | -3.88% | +2.01% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -21.78% | +15.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.42% | +0.31% |
Volatility
N4US.L vs. XDEV.L - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg) (N4US.L) and Xtrackers MSCI World Value Factor UCITS ETF 1C (XDEV.L) have volatilities of 6.06% and 5.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| N4US.L | XDEV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 5.95% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 13.95% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.47% | 16.24% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 20.88% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 22.09% | -3.72% |
N4US.L vs. XDEV.L - Expense Ratio Comparison
N4US.L has a 0.19% expense ratio, which is lower than XDEV.L's 0.25% expense ratio. Despite the difference, 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. XDEV.L - Dividend Comparison
Neither N4US.L nor XDEV.L has paid dividends to shareholders.
Frequently Asked Questions
N4US.L and XDEV.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, N4US.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
N4US.L is cheaper with a 0.19% expense ratio, compared with 0.25% for XDEV.L.
N4US.L tracks Invesco JPX-Nikkei 400 UCITS ETF (USD Hdg), while XDEV.L tracks MSCI ACWI Value NR USD. They also come from different issuers: Invesco and DWS. Their fees differ too: 0.19% for N4US.L and 0.25% for XDEV.L.
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