NS4E.DE vs. SGAJ.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and SGAJ.DE (iShares MSCI Japan ESG Screened UCITS ETF USD (Acc)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while SGAJ.DE tracks the MSCI Japan ESG Screened. Both are passively managed. Over the past 5 years, NS4E.DE returned 20.14%/yr vs 9.98%/yr for SGAJ.DE. Their correlation of 0.84 suggests significant overlap in exposure. NS4E.DE charges 0.19%/yr vs 0.15%/yr for SGAJ.DE.
Performance
NS4E.DE vs. SGAJ.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 SGAJ.DE slightly lower at 19.86%.
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%
SGAJ.DE
- 1D
- -1.05%
- 1M
- 0.83%
- 6M
- 13.77%
- YTD
- 19.86%
- 1Y
- 39.05%
- 3Y*
- 17.02%
- 5Y*
- 9.98%
- 10Y*
- —
NS4E.DE vs. SGAJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -11.63% |
SGAJ.DE iShares MSCI Japan ESG Screened UCITS ETF USD (Acc) | 19.86% | 11.81% | 12.99% | 16.12% | -12.79% | 9.68% | 5.86% | 23.51% | -21.34% |
Correlation
The correlation between NS4E.DE and SGAJ.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 | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.84 |
The correlation between NS4E.DE and SGAJ.DE has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. SGAJ.DE — Risk / Return Rank
NS4E.DE
SGAJ.DE
NS4E.DE vs. SGAJ.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 ESG Screened UCITS ETF USD (Acc) (SGAJ.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 | SGAJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.36 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.91 | 3.77 | +1.14 |
| Martin ratioReturn relative to average drawdown | 16.90 | 12.39 | +4.50 |
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Drawdowns
NS4E.DE vs. SGAJ.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than SGAJ.DE's maximum drawdown of -28.34%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and SGAJ.DE.
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Drawdown Indicators
| NS4E.DE | SGAJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -28.34% | -6.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.31% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -17.07% | -3.89% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -19.31% | -1.65% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | — | — |
Current DrawdownCurrent decline from peak | -2.02% | -3.41% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -7.23% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.14% | -0.35% |
Volatility
NS4E.DE vs. SGAJ.DE - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) is 5.89%, while iShares MSCI Japan ESG Screened UCITS ETF USD (Acc) (SGAJ.DE) has a volatility of 6.50%. This indicates that NS4E.DE experiences smaller price fluctuations and is considered to be less risky than SGAJ.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 | SGAJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.89% | 6.50% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 15.50% | 16.05% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.46% | 19.81% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 16.94% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 18.18% | +0.01% |
NS4E.DE vs. SGAJ.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is higher than SGAJ.DE's 0.15% 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. SGAJ.DE - Dividend Comparison
Neither NS4E.DE nor SGAJ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, NS4E.DE and SGAJ.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, SGAJ.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGAJ.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for NS4E.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while SGAJ.DE tracks MSCI Japan ESG Screened. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for NS4E.DE and 0.15% for SGAJ.DE.
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