NS4E.DE vs. SMLN.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both Japan Equities funds from Invesco - NS4E.DE tracks the JPX-Nikkei Index 400 while SMLN.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 10 years, NS4E.DE returned 15.07%/yr vs 9.18%/yr for SMLN.DE. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.19% expense ratio.
Performance
NS4E.DE vs. SMLN.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 SMLN.DE's 19.62% return. Over the past 10 years, NS4E.DE has outperformed SMLN.DE with an annualized return of 15.07%, while SMLN.DE has yielded a comparatively lower 9.18% 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%
SMLN.DE
- 1D
- 0.50%
- 1M
- 2.73%
- 6M
- 19.74%
- YTD
- 19.62%
- 1Y
- 34.04%
- 3Y*
- 16.73%
- 5Y*
- 10.46%
- 10Y*
- 9.18%
NS4E.DE vs. SMLN.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% |
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 19.62% | 12.69% | 12.93% | 16.15% | -11.17% | 8.51% | 4.78% | 22.29% | -10.60% | 9.59% |
Correlation
The correlation between NS4E.DE and SMLN.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.84 |
The correlation between NS4E.DE and SMLN.DE shifts across timeframes, from 0.81 (5 years) to 0.92 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NS4E.DE vs. SMLN.DE — Risk / Return Rank
NS4E.DE
SMLN.DE
NS4E.DE vs. SMLN.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 JPX-Nikkei 400 UCITS ETF (SMLN.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 | SMLN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.35 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 3.60 | +1.23 |
| Martin ratioReturn relative to average drawdown | 16.73 | 12.11 | +4.62 |
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Drawdowns
NS4E.DE vs. SMLN.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, smaller than the maximum SMLN.DE drawdown of -99.33%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and SMLN.DE.
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Drawdown Indicators
| NS4E.DE | SMLN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -99.33% | +64.01% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.43% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -15.55% | -5.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -19.85% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -99.33% | +64.01% |
Current DrawdownCurrent decline from peak | -1.49% | -98.37% | +96.88% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -77.99% | +69.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.79% | -0.02% |
Volatility
NS4E.DE vs. SMLN.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) have volatilities of 5.77% and 5.52%, 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 | SMLN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 5.52% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 15.27% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 18.50% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 16.24% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 4,014.90% | -3,996.65% |
NS4E.DE vs. SMLN.DE - Expense Ratio Comparison
Both NS4E.DE and SMLN.DE have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
NS4E.DE vs. SMLN.DE - Dividend Comparison
Neither NS4E.DE nor SMLN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, NS4E.DE and SMLN.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.
Both ETFs have the same 0.19% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
NS4E.DE and SMLN.DE have the same expense ratio: 0.19% per year.
NS4E.DE tracks JPX-Nikkei Index 400, while SMLN.DE tracks JPX-Nikkei 400.
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