SC0I.DE vs. SMLN.DE
SC0I.DE (Invesco MSCI Japan UCITS ETF) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both Japan Equities funds from Invesco - SC0I.DE tracks the MSCI Japan while SMLN.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 10 years, SC0I.DE returned 8.52%/yr vs 8.46%/yr for SMLN.DE. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.19% expense ratio.
Performance
SC0I.DE vs. SMLN.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SC0I.DE having a 14.80% return and SMLN.DE slightly higher at 14.96%. Both investments have delivered pretty close results over the past 10 years, with SC0I.DE having a 8.52% annualized return and SMLN.DE not far behind at 8.46%.
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%
SMLN.DE
- 1D
- -2.06%
- 1M
- -3.02%
- 6M
- 8.07%
- YTD
- 14.96%
- 1Y
- 30.61%
- 3Y*
- 15.28%
- 5Y*
- 9.54%
- 10Y*
- 8.46%
SC0I.DE vs. SMLN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SC0I.DE Invesco MSCI Japan UCITS ETF | 14.80% | 12.31% | 13.65% | 16.36% | -12.51% | 9.85% | 5.13% | 22.22% | -9.86% | 9.04% |
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 14.96% | 12.69% | 12.93% | 16.15% | -11.17% | 8.51% | 4.78% | 22.29% | -10.60% | 9.59% |
Correlation
The correlation between SC0I.DE and SMLN.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 | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014 | 0.98 |
The correlation between SC0I.DE and SMLN.DE has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
SC0I.DE vs. SMLN.DE — Risk / Return Rank
SC0I.DE
SMLN.DE
SC0I.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan UCITS ETF (SC0I.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.
| SC0I.DE | SMLN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.30 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.23 | -0.12 |
| Martin ratioReturn relative to average drawdown | 9.87 | 10.74 | -0.87 |
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Drawdowns
SC0I.DE vs. SMLN.DE - Drawdown Comparison
The maximum SC0I.DE drawdown since its inception was -41.87%, smaller than the maximum SMLN.DE drawdown of -99.33%. Use the drawdown chart below to compare losses from any high point for SC0I.DE and SMLN.DE.
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Drawdown Indicators
| SC0I.DE | SMLN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.87% | -99.33% | +57.46% |
Max Drawdown (1Y)Largest decline over 1 year | -10.24% | -9.43% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -16.83% | -15.55% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -19.11% | -19.85% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -28.00% | -99.33% | +71.33% |
Current DrawdownCurrent decline from peak | -7.18% | -98.43% | +91.25% |
Average DrawdownAverage peak-to-trough decline | -13.49% | -78.06% | +64.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.84% | +0.39% |
Volatility
SC0I.DE vs. SMLN.DE - Volatility Comparison
Invesco MSCI Japan UCITS ETF (SC0I.DE) has a higher volatility of 6.75% compared to Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) at 5.87%. This indicates that SC0I.DE's price experiences larger fluctuations and is considered to be riskier than SMLN.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 | SMLN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 5.87% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 16.47% | 15.73% | +0.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.87% | 18.97% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 16.30% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 4,014.90% | -3,997.55% |
SC0I.DE vs. SMLN.DE - Expense Ratio Comparison
Both SC0I.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
SC0I.DE vs. SMLN.DE - Dividend Comparison
Neither SC0I.DE nor SMLN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, SC0I.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.
SC0I.DE and SMLN.DE have the same expense ratio: 0.19% per year.
SC0I.DE tracks MSCI Japan, while SMLN.DE tracks JPX-Nikkei 400.
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