SXR5.DE vs. ETLR.DE
SXR5.DE (iShares MSCI Japan UCITS ETF USD (Acc)) and ETLR.DE (L&G Japan Equity UCITS ETF) are both Japan Equities funds - SXR5.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, SXR5.DE returned 9.94%/yr vs 9.93%/yr for ETLR.DE. With a 0.98 correlation, they move nearly in lockstep. SXR5.DE charges 0.12%/yr vs 0.10%/yr for ETLR.DE.
Performance
SXR5.DE vs. ETLR.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SXR5.DE achieves a 16.96% return, which is significantly higher than ETLR.DE's 15.36% return.
SXR5.DE
- 1D
- -0.36%
- 1M
- 3.71%
- YTD
- 16.96%
- 6M
- 16.95%
- 1Y
- 32.05%
- 3Y*
- 15.53%
- 5Y*
- 9.94%
- 10Y*
- 9.05%
ETLR.DE
- 1D
- -0.30%
- 1M
- 3.65%
- YTD
- 15.36%
- 6M
- 15.65%
- 1Y
- 29.68%
- 3Y*
- 15.30%
- 5Y*
- 9.93%
- 10Y*
- —
SXR5.DE vs. ETLR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SXR5.DE iShares MSCI Japan UCITS ETF USD (Acc) | 16.96% | 12.72% | 13.72% | 16.13% | -12.71% | 9.55% | 4.95% | 15.78% |
ETLR.DE L&G Japan Equity UCITS ETF | 15.36% | 12.36% | 14.84% | 16.06% | -11.99% | 10.00% | 5.41% | 16.57% |
Correlation
The correlation between SXR5.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 | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2019 | 0.98 |
The correlation between SXR5.DE and ETLR.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
SXR5.DE vs. ETLR.DE — Risk / Return Rank
SXR5.DE
ETLR.DE
SXR5.DE vs. ETLR.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (SXR5.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.
| SXR5.DE | ETLR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 2.74 | +0.30 |
| Martin ratioReturn relative to average drawdown | 9.81 | 8.92 | +0.89 |
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
| SXR5.DE | ETLR.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 1.56 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 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 | 0.48 | 0.61 | -0.13 |
Drawdowns
SXR5.DE vs. ETLR.DE - Drawdown Comparison
The maximum SXR5.DE drawdown since its inception was -28.03%, roughly equal to the maximum ETLR.DE drawdown of -27.67%. Use the drawdown chart below to compare losses from any high point for SXR5.DE and ETLR.DE.
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Drawdown Indicators
| SXR5.DE | ETLR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.03% | -27.67% | -0.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.14% | -10.40% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.16% | -16.42% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -18.73% | -0.57% |
Max Drawdown (10Y)Largest decline over 10 years | -28.03% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.30% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -5.44% | -1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 3.20% | -0.05% |
Volatility
SXR5.DE vs. ETLR.DE - Volatility Comparison
iShares MSCI Japan UCITS ETF USD (Acc) (SXR5.DE) has a higher volatility of 3.67% compared to L&G Japan Equity UCITS ETF (ETLR.DE) at 3.19%. This indicates that SXR5.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
| SXR5.DE | ETLR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.67% | 3.19% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 15.22% | 14.63% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.90% | 18.30% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 16.32% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.41% | 16.84% | -0.43% |
SXR5.DE vs. ETLR.DE - Expense Ratio Comparison
SXR5.DE has a 0.12% 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
SXR5.DE vs. ETLR.DE - Dividend Comparison
Neither SXR5.DE nor ETLR.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, SXR5.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 0.12% for SXR5.DE.
SXR5.DE tracks MSCI Japan, while ETLR.DE tracks Solactive Core Japan Large & Mid Cap. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.12% for SXR5.DE and 0.10% for ETLR.DE.
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