NS4E.DE vs. JNHD.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and JNHD.DE (Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while JNHD.DE tracks the MSCI Japan Index (EUR Hedged). Both are passively managed. Over the past 5 years, NS4E.DE returned 20.00%/yr vs 19.50%/yr for JNHD.DE. With a 0.98 correlation, they move nearly in lockstep. NS4E.DE charges 0.19%/yr vs 0.20%/yr for JNHD.DE.
Performance
NS4E.DE vs. JNHD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with NS4E.DE having a 20.94% return and JNHD.DE slightly higher at 21.67%.
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%
JNHD.DE
- 1D
- 1.32%
- 1M
- 1.97%
- 6M
- 21.32%
- YTD
- 21.67%
- 1Y
- 48.96%
- 3Y*
- 26.37%
- 5Y*
- 19.50%
- 10Y*
- —
NS4E.DE vs. JNHD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.94% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 10.94% |
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 21.67% | 27.52% | 23.21% | 32.66% | -7.11% | 11.87% | 12.61% |
Correlation
The correlation between NS4E.DE and JNHD.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.98 |
The correlation between NS4E.DE and JNHD.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. JNHD.DE — Risk / Return Rank
NS4E.DE
JNHD.DE
NS4E.DE vs. JNHD.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 Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.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 | JNHD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.44 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 5.06 | -0.24 |
| Martin ratioReturn relative to average drawdown | 16.73 | 17.06 | -0.33 |
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Drawdowns
NS4E.DE vs. JNHD.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than JNHD.DE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and JNHD.DE.
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Drawdown Indicators
| NS4E.DE | JNHD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -21.83% | -13.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.62% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -21.83% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -21.83% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | — | — |
Current DrawdownCurrent decline from peak | -1.49% | -2.61% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -4.17% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.86% | -0.09% |
Volatility
NS4E.DE vs. JNHD.DE - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) is 5.77%, while Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.DE) has a volatility of 6.69%. This indicates that NS4E.DE experiences smaller price fluctuations and is considered to be less risky than JNHD.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 | JNHD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 6.69% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 15.94% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 20.45% | -1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 18.83% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 18.36% | -0.11% |
NS4E.DE vs. JNHD.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is lower than JNHD.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. JNHD.DE - Dividend Comparison
NS4E.DE has not paid dividends to shareholders, while JNHD.DE's dividend yield for the trailing twelve months is around 1.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 1.49% | 1.82% | 1.85% | 1.72% | 2.52% | 1.83% | 0.78% |
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, NS4E.DE and JNHD.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, 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 JNHD.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while JNHD.DE tracks MSCI Japan Index (EUR Hedged). They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.19% for NS4E.DE and 0.20% for JNHD.DE.
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