SC0I.DE vs. ETLR.DE
SC0I.DE (Invesco MSCI Japan UCITS ETF) and ETLR.DE (L&G Japan Equity UCITS ETF) are both Japan Equities funds - SC0I.DE tracks the MSCI Japan while ETLR.DE tracks the Solactive Core Japan Large & Mid Cap. Both are passively managed. Over the past 5 years, SC0I.DE returned 9.37%/yr vs 9.68%/yr for ETLR.DE. With a 0.98 correlation, they move nearly in lockstep. SC0I.DE charges 0.19%/yr vs 0.10%/yr for ETLR.DE.
Performance
SC0I.DE vs. ETLR.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SC0I.DE having a 14.80% return and ETLR.DE slightly lower at 14.72%.
SC0I.DE
- 1D
- -2.54%
- 1M
- -4.40%
- 6M
- 7.55%
- YTD
- 14.80%
- 1Y
- 32.01%
- 3Y*
- 15.32%
- 5Y*
- 9.37%
- 10Y*
- 8.52%
ETLR.DE
- 1D
- -2.08%
- 1M
- -3.05%
- 6M
- 7.91%
- YTD
- 14.72%
- 1Y
- 31.18%
- 3Y*
- 15.68%
- 5Y*
- 9.68%
- 10Y*
- —
SC0I.DE vs. ETLR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SC0I.DE Invesco MSCI Japan UCITS ETF | 14.80% | 12.31% | 13.65% | 16.36% | -12.51% | 9.85% | 5.13% | 18.13% |
ETLR.DE L&G Japan Equity UCITS ETF | 14.72% | 12.41% | 14.84% | 16.04% | -12.03% | 10.00% | 5.42% | 16.90% |
Correlation
The correlation between SC0I.DE and ETLR.DE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.98 |
The correlation between SC0I.DE and ETLR.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
SC0I.DE vs. ETLR.DE — Risk / Return Rank
SC0I.DE
ETLR.DE
SC0I.DE vs. ETLR.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan UCITS ETF (SC0I.DE) and L&G Japan Equity UCITS ETF (ETLR.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.
| SC0I.DE | ETLR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.98 | +0.13 |
| Martin ratioReturn relative to average drawdown | 9.87 | 9.70 | +0.18 |
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Drawdowns
SC0I.DE vs. ETLR.DE - Drawdown Comparison
The maximum SC0I.DE drawdown since its inception was -41.87%, which is greater than ETLR.DE's maximum drawdown of -27.65%. Use the drawdown chart below to compare losses from any high point for SC0I.DE and ETLR.DE.
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Drawdown Indicators
| SC0I.DE | ETLR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -27.65% | -14.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.24% | -10.42% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -16.41% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -19.11% | -18.74% | -0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -28.00% | — | — |
Current DrawdownCurrent decline from peak | -7.18% | -5.52% | -1.66% |
Average DrawdownAverage peak-to-trough decline | -13.49% | -5.40% | -8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 3.21% | +0.02% |
Volatility
SC0I.DE vs. ETLR.DE - Volatility Comparison
Invesco MSCI Japan UCITS ETF (SC0I.DE) has a higher volatility of 6.75% compared to L&G Japan Equity UCITS ETF (ETLR.DE) at 6.15%. This indicates that SC0I.DE's price experiences larger fluctuations and is considered to be riskier than ETLR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SC0I.DE | ETLR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 6.15% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 16.47% | 15.62% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.87% | 19.21% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 16.51% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 16.94% | +0.41% |
SC0I.DE vs. ETLR.DE - Expense Ratio Comparison
SC0I.DE has a 0.19% expense ratio, which is higher than ETLR.DE's 0.10% 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
SC0I.DE vs. ETLR.DE - Dividend Comparison
Neither SC0I.DE nor ETLR.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, SC0I.DE and ETLR.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, ETLR.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLR.DE is cheaper with a 0.10% expense ratio, compared with 0.19% for SC0I.DE.
SC0I.DE tracks MSCI Japan, while ETLR.DE tracks Solactive Core Japan Large & Mid Cap. They also come from different issuers: Invesco and Legal & General. Their fees differ too: 0.19% for SC0I.DE and 0.10% for ETLR.DE.
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