NS4E.DE vs. 36B4.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and 36B4.DE (iShares MSCI Japan SRI UCITS ETF USD Dist) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while 36B4.DE tracks the MSCI Japan SRI Select Reduced Fossil Fuels. Both are passively managed. Over the past 5 years, NS4E.DE returned 19.49%/yr vs 4.83%/yr for 36B4.DE. A 0.79 correlation means they provide meaningful diversification when combined. NS4E.DE charges 0.19%/yr vs 0.20%/yr for 36B4.DE.
Performance
NS4E.DE vs. 36B4.DE - Performance Comparison
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Returns By Period
In the year-to-date period, NS4E.DE achieves a 17.06% return, which is significantly higher than 36B4.DE's 8.61% return.
NS4E.DE
- 1D
- -2.16%
- 1M
- -2.98%
- 6M
- 9.96%
- YTD
- 17.06%
- 1Y
- 42.35%
- 3Y*
- 25.18%
- 5Y*
- 19.49%
- 10Y*
- 13.98%
36B4.DE
- 1D
- -0.79%
- 1M
- 2.83%
- 6M
- 4.52%
- YTD
- 8.61%
- 1Y
- 19.17%
- 3Y*
- 9.22%
- 5Y*
- 4.83%
- 10Y*
- —
NS4E.DE vs. 36B4.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 17.06% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 7.89% |
36B4.DE iShares MSCI Japan SRI UCITS ETF USD Dist | 8.61% | 6.64% | 9.02% | 9.56% | -13.77% | 9.87% | 6.38% | 16.82% |
Correlation
The correlation between NS4E.DE and 36B4.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2019 | 0.79 |
The correlation between NS4E.DE and 36B4.DE has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. 36B4.DE — Risk / Return Rank
NS4E.DE
36B4.DE
NS4E.DE vs. 36B4.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) and iShares MSCI Japan SRI UCITS ETF USD Dist (36B4.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.
| NS4E.DE | 36B4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.19 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 1.76 | +2.63 |
| Martin ratioReturn relative to average drawdown | 15.01 | 5.09 | +9.91 |
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Drawdowns
NS4E.DE vs. 36B4.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than 36B4.DE's maximum drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and 36B4.DE.
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Drawdown Indicators
| NS4E.DE | 36B4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -26.98% | -8.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.82% | +1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -15.67% | -5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -21.57% | +0.61% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | — | — |
Current DrawdownCurrent decline from peak | -4.65% | -2.03% | -2.62% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -7.09% | -0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 3.75% | -0.94% |
Volatility
NS4E.DE vs. 36B4.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) has a higher volatility of 6.07% compared to iShares MSCI Japan SRI UCITS ETF USD Dist (36B4.DE) at 4.74%. This indicates that NS4E.DE's price experiences larger fluctuations and is considered to be riskier than 36B4.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NS4E.DE | 36B4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 4.74% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 14.24% | +1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 18.44% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 16.33% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 17.25% | +0.95% |
NS4E.DE vs. 36B4.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is lower than 36B4.DE's 0.20% 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
NS4E.DE vs. 36B4.DE - Dividend Comparison
NS4E.DE has not paid dividends to shareholders, while 36B4.DE's dividend yield for the trailing twelve months is around 1.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36B4.DE iShares MSCI Japan SRI UCITS ETF USD Dist | 1.48% | 1.46% | 1.38% | 1.81% | 2.45% | 1.54% | 1.60% | 0.81% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NS4E.DE and 36B4.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NS4E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NS4E.DE is cheaper with a 0.19% expense ratio, compared with 0.20% for 36B4.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while 36B4.DE tracks MSCI Japan SRI Select Reduced Fossil Fuels. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for NS4E.DE and 0.20% for 36B4.DE.
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