NS4E.DE vs. XDNE.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and XDNE.DE (Xtrackers MSCI Japan Screened UCITS ETF EUR Hedged (Acc)) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while XDNE.DE tracks the MSCI Japan Select Screened Index (EUR Hedged). Both are passively managed. Over the past 10 years, NS4E.DE returned 13.98%/yr vs 13.40%/yr for XDNE.DE. With a 0.98 correlation, they move nearly in lockstep. NS4E.DE charges 0.19%/yr vs 0.25%/yr for XDNE.DE.
Performance
NS4E.DE vs. XDNE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, NS4E.DE achieves a 17.06% return, which is significantly higher than XDNE.DE's 16.11% return. Both investments have delivered pretty close results over the past 10 years, with NS4E.DE having a 13.98% annualized return and XDNE.DE not far behind at 13.40%.
NS4E.DE
- 1D
- -2.16%
- 1M
- -2.98%
- 6M
- 9.96%
- YTD
- 17.06%
- 1Y
- 42.35%
- 3Y*
- 25.18%
- 5Y*
- 19.49%
- 10Y*
- 13.98%
XDNE.DE
- 1D
- -2.56%
- 1M
- -4.37%
- 6M
- 9.10%
- YTD
- 16.11%
- 1Y
- 41.96%
- 3Y*
- 23.75%
- 5Y*
- 18.26%
- 10Y*
- 13.40%
NS4E.DE vs. XDNE.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) | 17.06% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 7.50% | 17.31% | -17.52% | 19.58% |
XDNE.DE Xtrackers MSCI Japan Screened UCITS ETF EUR Hedged (Acc) | 16.11% | 25.99% | 21.86% | 32.65% | -6.33% | 11.20% | 6.98% | 17.57% | -17.40% | 19.33% |
Correlation
The correlation between NS4E.DE and XDNE.DE is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2015 | 0.98 |
The correlation between NS4E.DE and XDNE.DE has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. XDNE.DE — Risk / Return Rank
NS4E.DE
XDNE.DE
NS4E.DE vs. XDNE.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 Xtrackers MSCI Japan Screened UCITS ETF EUR Hedged (Acc) (XDNE.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 | XDNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.36 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.40 | 4.19 | +0.20 |
| Martin ratioReturn relative to average drawdown | 15.01 | 13.97 | +1.04 |
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Drawdowns
NS4E.DE vs. XDNE.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, roughly equal to the maximum XDNE.DE drawdown of -35.20%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and XDNE.DE.
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Drawdown Indicators
| NS4E.DE | XDNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -35.20% | -0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -9.96% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -21.73% | +0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -21.73% | +0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | -35.20% | -0.12% |
Current DrawdownCurrent decline from peak | -4.65% | -6.51% | +1.86% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -8.27% | +0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 3.00% | -0.19% |
Volatility
NS4E.DE vs. XDNE.DE - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) is 6.07%, while Xtrackers MSCI Japan Screened UCITS ETF EUR Hedged (Acc) (XDNE.DE) has a volatility of 7.16%. This indicates that NS4E.DE experiences smaller price fluctuations and is considered to be less risky than XDNE.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 | XDNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 7.16% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 16.76% | -1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 21.07% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 18.73% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 18.49% | -0.29% |
NS4E.DE vs. XDNE.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is lower than XDNE.DE's 0.25% 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. XDNE.DE - Dividend Comparison
Neither NS4E.DE nor XDNE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, NS4E.DE and XDNE.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 0.25% for XDNE.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while XDNE.DE tracks MSCI Japan Select Screened Index (EUR Hedged). They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.19% for NS4E.DE and 0.25% for XDNE.DE.
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