NS4E.DE vs. EMNJ.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and EMNJ.DE (iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while EMNJ.DE tracks the MSCI Japan ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, NS4E.DE returned 19.49%/yr vs 8.89%/yr for EMNJ.DE. Their correlation of 0.83 suggests significant overlap in exposure. NS4E.DE charges 0.19%/yr vs 0.15%/yr for EMNJ.DE.
Performance
NS4E.DE vs. EMNJ.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 EMNJ.DE's 15.52% 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%
EMNJ.DE
- 1D
- -2.46%
- 1M
- -3.71%
- 6M
- 8.72%
- YTD
- 15.52%
- 1Y
- 33.04%
- 3Y*
- 14.70%
- 5Y*
- 8.89%
- 10Y*
- —
NS4E.DE vs. EMNJ.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% | 10.18% |
EMNJ.DE iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 15.52% | 12.87% | 10.79% | 16.08% | -13.34% | 9.71% | 5.81% | 3.88% |
Correlation
The correlation between NS4E.DE and EMNJ.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.83 |
The correlation between NS4E.DE and EMNJ.DE has been stable across timeframes, ranging from 0.80 to 0.90 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. EMNJ.DE — Risk / Return Rank
NS4E.DE
EMNJ.DE
NS4E.DE vs. EMNJ.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 CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.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 | EMNJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.30 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 3.08 | +1.32 |
| Martin ratioReturn relative to average drawdown | 15.01 | 10.24 | +4.77 |
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Drawdowns
NS4E.DE vs. EMNJ.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than EMNJ.DE's maximum drawdown of -28.10%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and EMNJ.DE.
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Drawdown Indicators
| NS4E.DE | EMNJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -28.10% | -7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.70% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -16.91% | -4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -19.91% | -1.05% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | — | — |
Current DrawdownCurrent decline from peak | -4.65% | -6.35% | +1.70% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -6.57% | -1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 3.22% | -0.41% |
Volatility
NS4E.DE vs. EMNJ.DE - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) is 6.07%, while iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) (EMNJ.DE) has a volatility of 6.67%. This indicates that NS4E.DE experiences smaller price fluctuations and is considered to be less risky than EMNJ.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 | EMNJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 6.67% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 16.87% | -1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 20.67% | -1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 17.05% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 18.28% | -0.08% |
NS4E.DE vs. EMNJ.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is higher than EMNJ.DE's 0.15% 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
NS4E.DE vs. EMNJ.DE - Dividend Comparison
NS4E.DE has not paid dividends to shareholders, while EMNJ.DE's dividend yield for the trailing twelve months is around 1.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNJ.DE iShares MSCI Japan CTB Enhanced ESG UCITS ETF USD (Dist) | 1.47% | 1.58% | 1.80% | 1.75% | 2.16% | 1.66% | 1.63% | 1.72% |
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 EMNJ.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNJ.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNJ.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for NS4E.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while EMNJ.DE tracks MSCI Japan ESG Enhanced Focus CTB Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for NS4E.DE and 0.15% for EMNJ.DE.
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