NS4E.DE vs. EUNN.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and EUNN.DE (iShares Core MSCI Japan IMI UCITS ETF) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while EUNN.DE tracks the MSCI Japan IMI. Both are passively managed. Over the past 10 years, NS4E.DE returned 15.07%/yr vs 9.36%/yr for EUNN.DE. Their correlation of 0.83 suggests significant overlap in exposure. NS4E.DE charges 0.19%/yr vs 0.12%/yr for EUNN.DE.
Performance
NS4E.DE vs. EUNN.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with NS4E.DE having a 20.94% return and EUNN.DE slightly lower at 20.50%. Over the past 10 years, NS4E.DE has outperformed EUNN.DE with an annualized return of 15.07%, while EUNN.DE has yielded a comparatively lower 9.36% annualized return.
NS4E.DE
- 1D
- 0.76%
- 1M
- 2.16%
- 6M
- 19.66%
- YTD
- 20.94%
- 1Y
- 46.51%
- 3Y*
- 26.09%
- 5Y*
- 20.00%
- 10Y*
- 15.07%
EUNN.DE
- 1D
- 0.83%
- 1M
- 3.12%
- 6M
- 20.63%
- YTD
- 20.50%
- 1Y
- 36.00%
- 3Y*
- 17.30%
- 5Y*
- 10.41%
- 10Y*
- 9.36%
NS4E.DE vs. EUNN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.94% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 17.31% | -17.52% | 19.58% |
EUNN.DE iShares Core MSCI Japan IMI UCITS ETF | 20.50% | 13.46% | 12.91% | 15.16% | -11.48% | 9.24% | 4.12% | 22.22% | -10.32% | 10.42% |
Correlation
The correlation between NS4E.DE and EUNN.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.83 |
The correlation between NS4E.DE and EUNN.DE shifts across timeframes, from 0.81 (5 years) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NS4E.DE vs. EUNN.DE — Risk / Return Rank
NS4E.DE
EUNN.DE
NS4E.DE vs. EUNN.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 Core MSCI Japan IMI UCITS ETF (EUNN.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 | EUNN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 3.74 | +1.09 |
| Martin ratioReturn relative to average drawdown | 16.73 | 12.62 | +4.11 |
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Drawdowns
NS4E.DE vs. EUNN.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than EUNN.DE's maximum drawdown of -28.56%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and EUNN.DE.
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Drawdown Indicators
| NS4E.DE | EUNN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -28.56% | -6.76% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.58% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -15.81% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -19.41% | -1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -28.56% | -6.76% |
Current DrawdownCurrent decline from peak | -1.49% | -1.84% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -6.84% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.84% | -0.07% |
Volatility
NS4E.DE vs. EUNN.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) and iShares Core MSCI Japan IMI UCITS ETF (EUNN.DE) have volatilities of 5.77% and 5.84%, 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
| NS4E.DE | EUNN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 5.84% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 15.27% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 18.55% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 16.20% | +1.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 16.10% | +2.15% |
NS4E.DE vs. EUNN.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is higher than EUNN.DE's 0.12% 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. EUNN.DE - Dividend Comparison
Neither NS4E.DE nor EUNN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, NS4E.DE and EUNN.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.
On fees, EUNN.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNN.DE is cheaper with a 0.12% expense ratio, compared with 0.19% for NS4E.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while EUNN.DE tracks MSCI Japan IMI. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for NS4E.DE and 0.12% for EUNN.DE.
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