SMLN.DE vs. EUNN.DE
SMLN.DE (Invesco JPX-Nikkei 400 UCITS ETF) and EUNN.DE (iShares Core MSCI Japan IMI UCITS ETF) are both Japan Equities funds - SMLN.DE tracks the JPX-Nikkei 400 while EUNN.DE tracks the MSCI Japan IMI. Both are passively managed. Over the past 10 years, SMLN.DE returned 8.93%/yr vs 9.05%/yr for EUNN.DE. With a 0.99 correlation, they move nearly in lockstep. SMLN.DE charges 0.19%/yr vs 0.12%/yr for EUNN.DE.
Performance
SMLN.DE vs. EUNN.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SMLN.DE having a 15.87% return and EUNN.DE slightly higher at 16.53%. Both investments have delivered pretty close results over the past 10 years, with SMLN.DE having a 8.93% annualized return and EUNN.DE not far ahead at 9.05%.
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%
EUNN.DE
- 1D
- -0.27%
- 1M
- 5.77%
- YTD
- 16.53%
- 6M
- 16.83%
- 1Y
- 30.19%
- 3Y*
- 15.47%
- 5Y*
- 9.85%
- 10Y*
- 9.05%
SMLN.DE vs. EUNN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF | 15.87% | 12.69% | 12.93% | 16.15% | -11.17% | 8.51% | 4.78% | 22.29% | -10.60% | 9.59% |
EUNN.DE iShares Core MSCI Japan IMI UCITS ETF | 16.53% | 13.46% | 12.90% | 15.16% | -11.47% | 9.25% | 4.10% | 22.24% | -10.32% | 10.42% |
Correlation
The correlation between SMLN.DE and EUNN.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2014 | 0.99 |
The correlation between SMLN.DE and EUNN.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SMLN.DE vs. EUNN.DE — Risk / Return Rank
SMLN.DE
EUNN.DE
SMLN.DE vs. EUNN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) and iShares Core MSCI Japan IMI UCITS ETF (EUNN.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.
| SMLN.DE | EUNN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 3.14 | -0.15 |
| Martin ratioReturn relative to average drawdown | 9.93 | 10.51 | -0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMLN.DE | EUNN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 1.67 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.61 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.56 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.53 | -0.02 |
Drawdowns
SMLN.DE vs. EUNN.DE - Drawdown Comparison
The maximum SMLN.DE drawdown since its inception was -28.42%, roughly equal to the maximum EUNN.DE drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for SMLN.DE and EUNN.DE.
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Drawdown Indicators
| SMLN.DE | EUNN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.42% | -28.55% | +0.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -9.58% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -15.55% | -15.81% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -19.85% | -19.41% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | -28.42% | -28.55% | +0.13% |
Current DrawdownCurrent decline from peak | -0.49% | -0.27% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -6.03% | -6.85% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 2.86% | -0.02% |
Volatility
SMLN.DE vs. EUNN.DE - Volatility Comparison
Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) has a higher volatility of 3.44% compared to iShares Core MSCI Japan IMI UCITS ETF (EUNN.DE) at 3.16%. This indicates that SMLN.DE's price experiences larger fluctuations and is considered to be riskier than EUNN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLN.DE | EUNN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 3.16% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 14.75% | 14.53% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.07% | 17.97% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 16.04% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.22% | 16.08% | +0.14% |
SMLN.DE vs. EUNN.DE - Expense Ratio Comparison
SMLN.DE has a 0.19% expense ratio, which is higher than EUNN.DE's 0.12% 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
SMLN.DE vs. EUNN.DE - Dividend Comparison
Neither SMLN.DE nor EUNN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, SMLN.DE and EUNN.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, EUNN.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNN.DE is cheaper with a 0.12% expense ratio, compared with 0.19% for SMLN.DE.
SMLN.DE tracks JPX-Nikkei 400, while EUNN.DE tracks MSCI Japan IMI. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for SMLN.DE and 0.12% for EUNN.DE.
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