NBJP vs. JPXN

Last updated Aug 2, 2026

NBJP (Neuberger Berman Japan Equity ETF) and JPXN (iShares JPX-Nikkei 400 ETF) are both Japan Equities funds. NBJP is actively managed, while JPXN is passively managed. Over the past year, NBJP returned 27.79% vs 29.63% for JPXN. Their correlation of 0.93 means they have usually moved in the same direction. NBJP charges 0.50%/yr vs 0.48%/yr for JPXN.

Performance

NBJP vs. JPXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Japan Equity ETF (NBJP) and iShares JPX-Nikkei 400 ETF (JPXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NBJP achieves a 14.39% return, which is significantly lower than JPXN's 16.10% return.

NBJP

• 1D: -0.33%
• 1M: -4.55%
• 6M: 7.44%
• YTD: 14.39%
• 1Y: 27.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.93%

JPXN

• 1D: 0.27%
• 1M: 0.06%
• 6M: 9.24%
• YTD: 16.10%
• 1Y: 29.63%
• 3Y*: 17.97%
• 5Y*: 9.37%
• 10Y*: 8.85%
• ALL TIME*: 5.41%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JPXN iShares JPX-Nikkei 400 ETF	$735.20K	$885.80K	$1.38M
NBJP Neuberger Berman Japan Equity ETF	$908.32K	$596.18K	$649.03K

NBJP vs. JPXN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBJP Neuberger Berman Japan Equity ETF	14.39%	30.41%	-2.65%
JPXN iShares JPX-Nikkei 400 ETF	16.10%	26.03%	-3.80%

Correlation

The correlation between NBJP and JPXN is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.93

The correlation between NBJP and JPXN has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

NBJP vs. JPXN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NBJP

NBJP Risk / Return Rank: 54
NBJP Sharpe Ratio Rank: 55
NBJP Sortino Ratio Rank: 53
NBJP Omega Ratio Rank: 54
NBJP Calmar Ratio Rank: 57
NBJP Martin Ratio Rank: 53

JPXN

JPXN Risk / Return Rank: 62
JPXN Sharpe Ratio Rank: 62
JPXN Sortino Ratio Rank: 62
JPXN Omega Ratio Rank: 63
JPXN Calmar Ratio Rank: 63
JPXN Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NBJP vs. JPXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Japan Equity ETF (NBJP) and iShares JPX-Nikkei 400 ETF (JPXN). 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.

	NBJP	JPXN	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.51	-0.19
Sortino ratio: Return per unit of downside risk	1.88	2.15	-0.27
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	2.03	2.27	-0.25
Martin ratio: Return relative to average drawdown	6.22	7.68	-1.47

NBJP vs. JPXN - Sharpe Ratio Comparison

The current NBJP Sharpe Ratio is 1.32, which is comparable to the JPXN Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of NBJP and JPXN, 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

NBJP vs. JPXN - Drawdown Comparison

The maximum NBJP drawdown since its inception was -14.34%, smaller than the maximum JPXN drawdown of -55.54%. Use the drawdown chart below to compare losses from any high point for NBJP and JPXN.

Drawdown Indicators

	NBJP	JPXN	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-55.54%	+41.20%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	-13.11%	-1.23%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.21%	—
Current Drawdown Current decline from peak	-9.27%	-2.35%	-6.92%
Average Drawdown Average peak-to-trough decline	-3.41%	-14.98%	+11.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	3.87%	+0.79%

Volatility

NBJP vs. JPXN - Volatility Comparison

Neuberger Berman Japan Equity ETF (NBJP) has a higher volatility of 8.26% compared to iShares JPX-Nikkei 400 ETF (JPXN) at 6.84%. This indicates that NBJP's price experiences larger fluctuations and is considered to be riskier than JPXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBJP	JPXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.26%	6.84%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	19.46%	16.64%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	22.06%	19.81%	+2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.56%	18.00%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.56%	17.11%	+3.45%

NBJP vs. JPXN - Expense Ratio Comparison

NBJP has a 0.50% expense ratio, which is higher than JPXN's 0.48% expense ratio.

Dividends

NBJP vs. JPXN - Dividend Comparison

NBJP's dividend yield for the trailing twelve months is around 2.00%, less than JPXN's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JPXN iShares JPX-Nikkei 400 ETF	2.76%	3.14%	2.29%	2.57%	1.47%	2.63%	1.27%	1.92%	1.60%	1.50%	2.07%	1.32%
NBJP Neuberger Berman Japan Equity ETF	2.00%	2.29%	0.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBJP and JPXN in my portfolio?

With a correlation of 0.91, NBJP and JPXN 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 is riskier, NBJP or JPXN?

NBJP has higher volatility (8.26%) compared to JPXN (6.84%). In terms of maximum drawdown, NBJP dropped -14.34% vs JPXN's -55.54%.

Which ETF is better, NBJP or JPXN?

On 1-year performance, JPXN leads with 29.63% vs 27.79% for NBJP. On fees, JPXN is cheaper at 0.48% per year. On volatility, JPXN has been the lower-risk option at 6.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBJP or JPXN?

Over the 1-year period, JPXN has performed better with a 29.63% return vs 27.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBJP or JPXN?

JPXN is cheaper with a 0.48% expense ratio, compared with 0.50% for NBJP.

Which ETF pays a higher dividend yield, NBJP or JPXN?

JPXN has the higher dividend yield at 2.76%, compared with 2.00% for NBJP.

What is the main difference between NBJP and JPXN?

They also come from different issuers: Neuberger Berman and iShares. Their fees differ too: 0.50% for NBJP and 0.48% for JPXN.

Which has better risk-adjusted returns?

JPXN currently has the higher Sharpe Ratio (1.51 vs 1.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.