NS4E.DE vs. JPNH.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and JPNH.DE (Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while JPNH.DE tracks the TOPIX Index (EUR Hedged). Both are passively managed. Over the past 10 years, NS4E.DE returned 14.29%/yr vs 13.72%/yr for JPNH.DE. With a 0.99 correlation, they move nearly in lockstep. NS4E.DE charges 0.19%/yr vs 0.45%/yr for JPNH.DE.
Performance
NS4E.DE vs. JPNH.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 20.29% return and JPNH.DE slightly lower at 19.83%. Both investments have delivered pretty close results over the past 10 years, with NS4E.DE having a 14.29% annualized return and JPNH.DE not far behind at 13.72%.
NS4E.DE
- 1D
- -1.03%
- 1M
- 1.65%
- 6M
- 13.30%
- YTD
- 20.29%
- 1Y
- 47.35%
- 3Y*
- 26.88%
- 5Y*
- 20.14%
- 10Y*
- 14.29%
JPNH.DE
- 1D
- -0.93%
- 1M
- 1.78%
- 6M
- 12.92%
- YTD
- 19.83%
- 1Y
- 47.19%
- 3Y*
- 26.36%
- 5Y*
- 19.27%
- 10Y*
- 13.72%
NS4E.DE vs. JPNH.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) | 20.29% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 17.31% | -17.52% | 19.58% |
JPNH.DE Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) | 19.83% | 27.75% | 21.23% | 32.08% | -4.87% | 10.85% | 5.84% | 15.91% | -17.82% | 20.38% |
Correlation
The correlation between NS4E.DE and JPNH.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.99 |
The correlation between NS4E.DE and JPNH.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. JPNH.DE — Risk / Return Rank
NS4E.DE
JPNH.DE
NS4E.DE vs. JPNH.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 Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.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 | JPNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.91 | 4.66 | +0.26 |
| Martin ratioReturn relative to average drawdown | 16.90 | 16.50 | +0.40 |
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Drawdowns
NS4E.DE vs. JPNH.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, roughly equal to the maximum JPNH.DE drawdown of -36.52%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and JPNH.DE.
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Drawdown Indicators
| NS4E.DE | JPNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -36.52% | +1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.08% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -20.72% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -20.72% | -0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -36.52% | +1.20% |
Current DrawdownCurrent decline from peak | -2.02% | -1.64% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -7.95% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.85% | -0.06% |
Volatility
NS4E.DE vs. JPNH.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) and Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) (JPNH.DE) have volatilities of 5.89% and 5.65%, 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 | JPNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.89% | 5.65% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 15.50% | 15.45% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.46% | 19.48% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 18.05% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 18.17% | +0.02% |
NS4E.DE vs. JPNH.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is lower than JPNH.DE's 0.45% expense ratio.
Dividends
NS4E.DE vs. JPNH.DE - Dividend Comparison
NS4E.DE has not paid dividends to shareholders, while JPNH.DE's dividend yield for the trailing twelve months is around 0.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPNH.DE Amundi Japan TOPIX II UCITS ETF EUR Hedged (Dist) | 0.74% | 0.89% | 1.52% | 1.29% | 1.66% | 1.33% | 1.09% | 1.93% | 1.89% | 1.36% | 1.96% | 1.84% |
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
With a correlation of 0.99, NS4E.DE and JPNH.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 0.45% for JPNH.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while JPNH.DE tracks TOPIX Index (EUR Hedged). They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.19% for NS4E.DE and 0.45% for JPNH.DE.
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