SMLD.DE vs. SMLN.DE
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) are both exchange-traded funds - SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite, while SMLN.DE is a Japan Equities fund tracking the JPX-Nikkei 400. Both are passively managed. Over the past 10 years, SMLD.DE returned 6.39%/yr vs 8.79%/yr for SMLN.DE. At a 0.34 correlation, their price movements are largely independent. SMLD.DE charges 0.50%/yr vs 0.19%/yr for SMLN.DE.
Performance
SMLD.DE vs. SMLN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLD.DE achieves a 23.53% return, which is significantly higher than SMLN.DE's 18.52% return. Over the past 10 years, SMLD.DE has underperformed SMLN.DE with an annualized return of 6.39%, while SMLN.DE has yielded a comparatively higher 8.79% annualized return.
SMLD.DE
- 1D
- -0.22%
- 1M
- 5.15%
- 6M
- 16.19%
- YTD
- 23.53%
- 1Y
- 19.37%
- 3Y*
- 17.07%
- 5Y*
- 19.28%
- 10Y*
- 6.39%
SMLN.DE
- 1D
- -0.96%
- 1M
- 1.87%
- 6M
- 12.32%
- YTD
- 18.52%
- 1Y
- 36.24%
- 3Y*
- 16.96%
- 5Y*
- 10.22%
- 10Y*
- 8.79%
SMLD.DE vs. SMLN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 23.53% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | 12.61% | -11.81% | -19.80% |
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 18.52% | 12.69% | 12.93% | 16.15% | -11.17% | 8.51% | 4.78% | 22.29% | -10.60% | 9.59% |
Correlation
The correlation between SMLD.DE and SMLN.DE is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014 | 0.34 |
The correlation between SMLD.DE and SMLN.DE shifts across timeframes, from -0.14 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMLD.DE vs. SMLN.DE — Risk / Return Rank
SMLD.DE
SMLN.DE
SMLD.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| SMLD.DE | SMLN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.36 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 3.83 | -1.83 |
| Martin ratioReturn relative to average drawdown | 4.37 | 12.83 | -8.46 |
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Drawdowns
SMLD.DE vs. SMLN.DE - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -83.65%, smaller than the maximum SMLN.DE drawdown of -99.33%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and SMLN.DE.
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Drawdown Indicators
| SMLD.DE | SMLN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.65% | -99.33% | +15.68% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -9.43% | -0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -15.55% | -7.44% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -19.85% | -3.14% |
Max Drawdown (10Y)Largest decline over 10 years | -76.32% | -99.33% | +23.01% |
Current DrawdownCurrent decline from peak | -1.24% | -98.38% | +97.14% |
Average DrawdownAverage peak-to-trough decline | -33.93% | -78.04% | +44.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | 2.82% | +1.60% |
Volatility
SMLD.DE vs. SMLN.DE - Volatility Comparison
The current volatility for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) is 3.72%, while Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) has a volatility of 5.85%. This indicates that SMLD.DE experiences smaller price fluctuations and is considered to be less risky 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
| SMLD.DE | SMLN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.72% | 5.85% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 15.56% | -2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 18.84% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.28% | 16.28% | +4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.07% | 4,015.69% | -3,986.62% |
SMLD.DE vs. SMLN.DE - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is higher than SMLN.DE's 0.19% expense ratio.
Dividends
SMLD.DE vs. SMLN.DE - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.52%, while SMLN.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.52% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMLD.DE and SMLN.DE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SMLN.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLN.DE is cheaper with a 0.19% expense ratio, compared with 0.50% for SMLD.DE.
SMLD.DE is categorized as Energy Equities, while SMLN.DE is Japan Equities. SMLD.DE tracks Morningstar MLP Composite, while SMLN.DE tracks JPX-Nikkei 400. Their fees differ too: 0.50% for SMLD.DE and 0.19% for SMLN.DE.
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