NS4E.DE vs. P500.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and P500.DE (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - NS4E.DE is a Japan Equities fund tracking the JPX-Nikkei Index 400, while P500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, NS4E.DE returned 15.07%/yr vs 15.07%/yr for P500.DE. A 0.62 correlation means they provide meaningful diversification when combined. NS4E.DE charges 0.19%/yr vs 0.05%/yr for P500.DE.
Performance
NS4E.DE vs. P500.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 higher than P500.DE's 12.30% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: NS4E.DE at 15.07% and P500.DE at 15.07%.
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%
P500.DE
- 1D
- 0.23%
- 1M
- 0.61%
- 6M
- 13.07%
- YTD
- 12.30%
- 1Y
- 24.17%
- 3Y*
- 18.56%
- 5Y*
- 13.90%
- 10Y*
- 15.07%
NS4E.DE vs. P500.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% |
P500.DE Invesco S&P 500 UCITS ETF | 12.30% | 4.83% | 32.66% | 22.56% | -14.02% | 41.17% | 6.99% | 34.95% | -1.01% | 6.74% |
Correlation
The correlation between NS4E.DE and P500.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.62 |
The correlation between NS4E.DE and P500.DE shifts across timeframes, from 0.51 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NS4E.DE vs. P500.DE — Risk / Return Rank
NS4E.DE
P500.DE
NS4E.DE vs. P500.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 Invesco S&P 500 UCITS ETF (P500.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 | P500.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 3.39 | +1.44 |
| Martin ratioReturn relative to average drawdown | 16.73 | 12.01 | +4.73 |
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Drawdowns
NS4E.DE vs. P500.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, roughly equal to the maximum P500.DE drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and P500.DE.
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Drawdown Indicators
| NS4E.DE | P500.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -33.85% | -1.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -7.10% | -2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -23.39% | +2.43% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -23.39% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -33.85% | -1.47% |
Current DrawdownCurrent decline from peak | -1.49% | -0.60% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -3.84% | -4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.01% | +0.76% |
Volatility
NS4E.DE vs. P500.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) has a higher volatility of 5.77% compared to Invesco S&P 500 UCITS ETF (P500.DE) at 3.66%. This indicates that NS4E.DE's price experiences larger fluctuations and is considered to be riskier than P500.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 | P500.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 3.66% | +2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 8.08% | +7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 12.00% | +7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 15.22% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 16.07% | +2.18% |
NS4E.DE vs. P500.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is higher than P500.DE's 0.05% 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. P500.DE - Dividend Comparison
Neither NS4E.DE nor P500.DE has paid dividends to shareholders.
Frequently Asked Questions
NS4E.DE and P500.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
P500.DE is cheaper with a 0.05% expense ratio, compared with 0.19% for NS4E.DE.
NS4E.DE is categorized as Japan Equities, while P500.DE is S&P 500. NS4E.DE tracks JPX-Nikkei Index 400, while P500.DE tracks S&P 500 Index. Their fees differ too: 0.19% for NS4E.DE and 0.05% for P500.DE.
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