NADA.DE vs. SMLN.DE

Last updated Jun 26, 2026

NADA.DE (Amundi Core MSCI Japan UCITS ETF Distributing) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both Japan Equities funds - NADA.DE tracks the MSCI Japan Index while SMLN.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 5 years, NADA.DE returned 10.47%/yr vs 10.16%/yr for SMLN.DE. With a 0.99 correlation, they move nearly in lockstep. NADA.DE charges 0.12%/yr vs 0.19%/yr for SMLN.DE.

Performance

NADA.DE vs. SMLN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Core MSCI Japan UCITS ETF Distributing (NADA.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NADA.DE achieves a 19.90% return, which is significantly higher than SMLN.DE's 18.52% return.

NADA.DE

• 1D: 0.49%
• 1M: 3.64%
• YTD: 19.90%
• 6M: 20.31%
• 1Y: 38.41%
• 3Y*: 17.56%
• 5Y*: 10.47%
• 10Y*: —

SMLN.DE

• 1D: 0.30%
• 1M: 2.37%
• YTD: 18.52%
• 6M: 18.84%
• 1Y: 34.96%
• 3Y*: 16.84%
• 5Y*: 10.16%
• 10Y*: 9.29%

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

NADA.DE vs. SMLN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NADA.DE Amundi Core MSCI Japan UCITS ETF Distributing	19.90%	12.75%	13.65%	16.45%	-12.50%	9.86%	9.71%
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF	18.52%	12.69%	12.93%	16.15%	-11.17%	8.51%	9.55%

Correlation

The correlation between NADA.DE and SMLN.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020	0.99

The correlation between NADA.DE and SMLN.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

NADA.DE vs. SMLN.DE — Risk / Return Rank

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

NADA.DE

NADA.DE Risk / Return Rank: 74
NADA.DE Sharpe Ratio Rank: 69
NADA.DE Sortino Ratio Rank: 72
NADA.DE Omega Ratio Rank: 72
NADA.DE Calmar Ratio Rank: 82
NADA.DE Martin Ratio Rank: 74

SMLN.DE

SMLN.DE Risk / Return Rank: 71
SMLN.DE Sharpe Ratio Rank: 65
SMLN.DE Sortino Ratio Rank: 67
SMLN.DE Omega Ratio Rank: 67
SMLN.DE Calmar Ratio Rank: 80
SMLN.DE Martin Ratio Rank: 74

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.

NADA.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Core MSCI Japan UCITS ETF Distributing (NADA.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE). 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.

	NADA.DE	SMLN.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.87	+0.10
Sortino ratio: Return per unit of downside risk	2.86	2.71	+0.15
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	3.83	3.69	+0.13
Martin ratio: Return relative to average drawdown	12.27	12.20	+0.07

NADA.DE vs. SMLN.DE - Sharpe Ratio Comparison

The current NADA.DE Sharpe Ratio is 1.98, which is comparable to the SMLN.DE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of NADA.DE and SMLN.DE, 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

NADA.DE vs. SMLN.DE - Drawdown Comparison

The maximum NADA.DE drawdown since its inception was -19.09%, smaller than the maximum SMLN.DE drawdown of -99.33%. Use the drawdown chart below to compare losses from any high point for NADA.DE and SMLN.DE.

Drawdown Indicators

	NADA.DE	SMLN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-19.09%	-99.33%	+80.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-9.43%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-16.93%	-15.55%	-1.38%
Max Drawdown (5Y) Largest decline over 5 years	-19.09%	-19.85%	+0.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.33%	—
Current Drawdown Current decline from peak	-2.85%	-98.38%	+95.53%
Average Drawdown Average peak-to-trough decline	-5.59%	-77.95%	+72.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	2.86%	+0.26%

Volatility

NADA.DE vs. SMLN.DE - Volatility Comparison

Amundi Core MSCI Japan UCITS ETF Distributing (NADA.DE) has a higher volatility of 6.21% compared to Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) at 5.37%. This indicates that NADA.DE's price experiences larger fluctuations and is considered to be riskier than SMLN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NADA.DE	SMLN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	5.37%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	15.74%	15.42%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	19.33%	18.58%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.75%	16.24%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.38%	4,014.90%	-3,998.52%

NADA.DE vs. SMLN.DE - Expense Ratio Comparison

NADA.DE has a 0.12% expense ratio, which is lower than SMLN.DE's 0.19% 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

NADA.DE vs. SMLN.DE - Dividend Comparison

NADA.DE's dividend yield for the trailing twelve months is around 1.59%, while SMLN.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
NADA.DE Amundi Core MSCI Japan UCITS ETF Distributing	1.59%	1.90%	1.93%	1.75%	2.64%	1.95%	0.60%
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NADA.DE and SMLN.DE in my portfolio?

With a correlation of 0.98, NADA.DE and SMLN.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, NADA.DE or SMLN.DE?

On fees, NADA.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NADA.DE or SMLN.DE?

NADA.DE is cheaper with a 0.12% expense ratio, compared with 0.19% for SMLN.DE.

What is the main difference between NADA.DE and SMLN.DE?

NADA.DE tracks MSCI Japan Index, while SMLN.DE tracks JPX-Nikkei 400. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.12% for NADA.DE and 0.19% for SMLN.DE.