NS4E.DE vs. IUS4.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and IUS4.DE (iShares MSCI Japan Small Cap UCITS ETF (Dist)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while IUS4.DE tracks the MSCI Japan Small Cap. Both are passively managed. Over the past 10 years, NS4E.DE returned 15.07%/yr vs 8.02%/yr for IUS4.DE. A 0.72 correlation means they provide meaningful diversification when combined. NS4E.DE charges 0.19%/yr vs 0.58%/yr for IUS4.DE.
Performance
NS4E.DE vs. IUS4.DE - Performance Comparison
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Returns By Period
In the year-to-date period, NS4E.DE achieves a 20.94% return, which is significantly lower than IUS4.DE's 22.03% return. Over the past 10 years, NS4E.DE has outperformed IUS4.DE with an annualized return of 15.07%, while IUS4.DE has yielded a comparatively lower 8.02% 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%
IUS4.DE
- 1D
- 1.33%
- 1M
- 5.89%
- 6M
- 22.20%
- YTD
- 22.03%
- 1Y
- 35.43%
- 3Y*
- 17.66%
- 5Y*
- 9.32%
- 10Y*
- 8.02%
NS4E.DE vs. IUS4.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% |
IUS4.DE iShares MSCI Japan Small Cap UCITS ETF (Dist) | 22.03% | 15.97% | 9.46% | 9.42% | -7.68% | 5.35% | -2.08% | 21.73% | -13.13% | 15.52% |
Correlation
The correlation between NS4E.DE and IUS4.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.72 |
The correlation between NS4E.DE and IUS4.DE has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. IUS4.DE — Risk / Return Rank
NS4E.DE
IUS4.DE
NS4E.DE vs. IUS4.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 Small Cap UCITS ETF (Dist) (IUS4.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 | IUS4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.39 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 3.49 | +1.34 |
| Martin ratioReturn relative to average drawdown | 16.73 | 12.11 | +4.62 |
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Drawdowns
NS4E.DE vs. IUS4.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, smaller than the maximum IUS4.DE drawdown of -51.61%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and IUS4.DE.
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Drawdown Indicators
| NS4E.DE | IUS4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -51.61% | +16.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.11% | +0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -12.92% | -8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -21.46% | +0.50% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -32.62% | -2.70% |
Current DrawdownCurrent decline from peak | -1.49% | 0.00% | -1.49% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -15.04% | +7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.92% | -0.15% |
Volatility
NS4E.DE vs. IUS4.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) has a higher volatility of 5.77% compared to iShares MSCI Japan Small Cap UCITS ETF (Dist) (IUS4.DE) at 4.14%. This indicates that NS4E.DE's price experiences larger fluctuations and is considered to be riskier than IUS4.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 | IUS4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 4.14% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 13.78% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 16.26% | +2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 14.98% | +3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 15.92% | +2.33% |
NS4E.DE vs. IUS4.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is lower than IUS4.DE's 0.58% expense ratio.
Dividends
NS4E.DE vs. IUS4.DE - Dividend Comparison
NS4E.DE has not paid dividends to shareholders, while IUS4.DE's dividend yield for the trailing twelve months is around 1.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUS4.DE iShares MSCI Japan Small Cap UCITS ETF (Dist) | 1.58% | 1.88% | 1.70% | 1.77% | 2.10% | 1.47% | 1.60% | 1.45% | 1.41% | 1.31% | 1.15% | 0.70% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NS4E.DE and IUS4.DE have a correlation of 0.76, 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 0.58% for IUS4.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while IUS4.DE tracks MSCI Japan Small Cap. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for NS4E.DE and 0.58% for IUS4.DE.
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