NS4E.DE vs. XNKY.DE
NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) and XNKY.DE (Xtrackers Nikkei 225 UCITS ETF) are both Japan Equities funds - NS4E.DE tracks the JPX-Nikkei Index 400 while XNKY.DE tracks the Nikkei 225®. Both are passively managed. Over the past 5 years, NS4E.DE returned 20.00%/yr vs 13.08%/yr for XNKY.DE. A 0.78 correlation means they provide meaningful diversification when combined. NS4E.DE charges 0.19%/yr vs 0.09%/yr for XNKY.DE.
Performance
NS4E.DE vs. XNKY.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 lower than XNKY.DE's 36.19% 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%
XNKY.DE
- 1D
- 0.00%
- 1M
- 1.43%
- 6M
- 36.04%
- YTD
- 36.19%
- 1Y
- 60.65%
- 3Y*
- 22.64%
- 5Y*
- 13.08%
- 10Y*
- —
NS4E.DE vs. XNKY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) | 20.94% | 27.33% | 22.81% | 33.35% | -4.26% | 10.90% | 9.19% |
XNKY.DE Xtrackers Nikkei 225 UCITS ETF | 36.19% | 16.16% | 14.34% | 18.03% | -15.35% | 3.16% | 7.65% |
Correlation
The correlation between NS4E.DE and XNKY.DE is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2020 | 0.78 |
The correlation between NS4E.DE and XNKY.DE has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.
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Return for Risk
NS4E.DE vs. XNKY.DE — Risk / Return Rank
NS4E.DE
XNKY.DE
NS4E.DE vs. XNKY.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 Nikkei 225 UCITS ETF (XNKY.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 | XNKY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.40 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 4.69 | +0.14 |
| Martin ratioReturn relative to average drawdown | 16.73 | 14.08 | +2.66 |
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Drawdowns
NS4E.DE vs. XNKY.DE - Drawdown Comparison
The maximum NS4E.DE drawdown since its inception was -35.32%, which is greater than XNKY.DE's maximum drawdown of -21.47%. Use the drawdown chart below to compare losses from any high point for NS4E.DE and XNKY.DE.
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Drawdown Indicators
| NS4E.DE | XNKY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.32% | -21.47% | -13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -12.99% | +3.40% |
Max Drawdown (3Y)Largest decline over 3 years | -20.96% | -20.16% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -21.15% | +0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -35.32% | — | — |
Current DrawdownCurrent decline from peak | -1.49% | -5.73% | +4.24% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -7.80% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 4.33% | -1.56% |
Volatility
NS4E.DE vs. XNKY.DE - Volatility Comparison
The current volatility for Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) is 5.77%, while Xtrackers Nikkei 225 UCITS ETF (XNKY.DE) has a volatility of 9.58%. This indicates that NS4E.DE experiences smaller price fluctuations and is considered to be less risky than XNKY.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 | XNKY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.77% | 9.58% | -3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 20.53% | -5.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 25.21% | -6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 19.02% | -0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 18.69% | -0.44% |
NS4E.DE vs. XNKY.DE - Expense Ratio Comparison
NS4E.DE has a 0.19% expense ratio, which is higher than XNKY.DE's 0.09% 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. XNKY.DE - Dividend Comparison
Neither NS4E.DE nor XNKY.DE has paid dividends to shareholders.
Frequently Asked Questions
NS4E.DE and XNKY.DE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XNKY.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XNKY.DE is cheaper with a 0.09% expense ratio, compared with 0.19% for NS4E.DE.
NS4E.DE tracks JPX-Nikkei Index 400, while XNKY.DE tracks Nikkei 225®. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.19% for NS4E.DE and 0.09% for XNKY.DE.
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