PRAJ.DE vs. SMLN.DE

Last updated Jun 5, 2026

PRAJ.DE (Amundi Prime Japan UCITS ETF) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both Japan Equities funds - PRAJ.DE tracks the Solactive GBS Japan Large & Mid Cap while SMLN.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 5 years, PRAJ.DE returned 9.98%/yr vs 9.82%/yr for SMLN.DE. With a 0.97 correlation, they move nearly in lockstep. PRAJ.DE charges 0.05%/yr vs 0.19%/yr for SMLN.DE.

Performance

PRAJ.DE vs. SMLN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Prime Japan UCITS ETF (PRAJ.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PRAJ.DE having a 15.60% return and SMLN.DE slightly higher at 15.87%.

PRAJ.DE

• 1D: -0.27%
• 1M: 3.19%
• YTD: 15.60%
• 6M: 15.73%
• 1Y: 30.22%
• 3Y*: 15.18%
• 5Y*: 9.98%
• 10Y*: —

SMLN.DE

• 1D: -0.49%
• 1M: 4.75%
• YTD: 15.87%
• 6M: 15.93%
• 1Y: 28.29%
• 3Y*: 14.96%
• 5Y*: 9.82%
• 10Y*: 8.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRAJ.DE vs. SMLN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PRAJ.DE Amundi Prime Japan UCITS ETF	15.60%	12.84%	13.73%	16.27%	-11.68%	10.20%	4.34%
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF	15.87%	12.69%	12.93%	16.15%	-11.17%	8.51%	4.20%

Correlation

The correlation between PRAJ.DE and SMLN.DE is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 29, 2020	0.97

The correlation between PRAJ.DE and SMLN.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

PRAJ.DE vs. SMLN.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRAJ.DE

PRAJ.DE Risk / Return Rank: 52
PRAJ.DE Sharpe Ratio Rank: 45
PRAJ.DE Sortino Ratio Rank: 49
PRAJ.DE Omega Ratio Rank: 49
PRAJ.DE Calmar Ratio Rank: 61
PRAJ.DE Martin Ratio Rank: 56

SMLN.DE

SMLN.DE Risk / Return Rank: 52
SMLN.DE Sharpe Ratio Rank: 45
SMLN.DE Sortino Ratio Rank: 49
SMLN.DE Omega Ratio Rank: 49
SMLN.DE Calmar Ratio Rank: 61
SMLN.DE Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRAJ.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Prime Japan UCITS ETF (PRAJ.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.

	PRAJ.DE	SMLN.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.56	+0.01
Sortino ratio: Return per unit of downside risk	2.37	2.35	+0.02
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.97	2.99	-0.02
Martin ratio: Return relative to average drawdown	9.64	9.93	-0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRAJ.DE vs. SMLN.DE - Sharpe Ratio Comparison

The current PRAJ.DE Sharpe Ratio is 1.57, which is comparable to the SMLN.DE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of PRAJ.DE and SMLN.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRAJ.DE	SMLN.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.56	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.60	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.51	0.00

Drawdowns

PRAJ.DE vs. SMLN.DE - Drawdown Comparison

The maximum PRAJ.DE drawdown since its inception was -29.64%, roughly equal to the maximum SMLN.DE drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for PRAJ.DE and SMLN.DE.

Drawdown Indicators

	PRAJ.DE	SMLN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-29.64%	-28.42%	-1.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-9.43%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	-15.55%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-18.65%	-19.85%	+1.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.42%	—
Current Drawdown Current decline from peak	-0.27%	-0.49%	+0.22%
Average Drawdown Average peak-to-trough decline	-6.07%	-6.03%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.84%	+0.17%

Volatility

PRAJ.DE vs. SMLN.DE - Volatility Comparison

Amundi Prime Japan UCITS ETF (PRAJ.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) have volatilities of 3.41% and 3.44%, 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.

Volatility by Period

	PRAJ.DE	SMLN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	3.44%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	14.72%	14.75%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	18.07%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	16.12%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	16.22%	+1.66%

PRAJ.DE vs. SMLN.DE - Expense Ratio Comparison

PRAJ.DE has a 0.05% expense ratio, which is lower than SMLN.DE's 0.19% 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

PRAJ.DE vs. SMLN.DE - Dividend Comparison

Neither PRAJ.DE nor SMLN.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both PRAJ.DE and SMLN.DE in my portfolio?

With a correlation of 0.98, PRAJ.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.

Which ETF is better, PRAJ.DE or SMLN.DE?

On fees, PRAJ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRAJ.DE or SMLN.DE?

PRAJ.DE is cheaper with a 0.05% expense ratio, compared with 0.19% for SMLN.DE.

What is the main difference between PRAJ.DE and SMLN.DE?

PRAJ.DE tracks Solactive GBS Japan Large & Mid Cap, while SMLN.DE tracks JPX-Nikkei 400. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.05% for PRAJ.DE and 0.19% for SMLN.DE.