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UB02.L vs. XDJP.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UB02.L vs. XDJP.L

Last updated Jul 18, 2026
Documentation

UB02.L (UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both Japan Equities funds tracking the TOPIX TR JPY, from UBS and Xtrackers respectively. Both are passively managed. Over the past 10 years, UB02.L returned 8.76%/yr vs 11.24%/yr for XDJP.L. Their correlation of 0.92 suggests significant overlap in exposure. UB02.L charges 0.19%/yr vs 0.09%/yr for XDJP.L.

Performance

UB02.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UB02.L achieves a 12.50% return, which is significantly lower than XDJP.L's 24.42% return. Over the past 10 years, UB02.L has underperformed XDJP.L with an annualized return of 8.76%, while XDJP.L has yielded a comparatively higher 11.24% annualized return.

UB02.L

1D
-2.05%
1M
-5.96%
6M
5.62%
YTD
12.50%
1Y
30.04%
3Y*
15.09%
5Y*
9.33%
10Y*
8.76%

XDJP.L

1D
-2.67%
1M
-10.09%
6M
16.93%
YTD
24.42%
1Y
49.05%
3Y*
19.66%
5Y*
11.68%
10Y*
11.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UB02.L vs. XDJP.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UB02.L
UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis		12.50%17.42%9.12%13.98%-7.14%2.16%12.42%14.28%-8.60%13.20%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		24.42%21.04%9.68%15.52%-10.26%-3.79%21.77%16.59%-3.53%14.74%

Correlation

The correlation between UB02.L and XDJP.L is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (10Y)
Calculated over the trailing 10-year period

0.91

Correlation (All Time)
Calculated using the full available price history since Jan 25, 2013

0.92

The correlation between UB02.L and XDJP.L has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

UB02.L vs. XDJP.L - Sectors Allocation Comparison

Sectors
UB02.L
XDJP.L

Technology

24.9%
33.3%

Industrials

22.8%
18.2%

Financial Services

17.6%
2.9%

Consumer Cyclical

11.2%
16.6%

Communication Services

8.1%
14.3%

Healthcare

5.3%
6.1%

Consumer Defensive

3.4%
2.9%

Basic Materials

3.1%
4.1%

Real Estate

1.9%
1.2%

Utilities

1.0%
0.1%

Energy

0.8%
0.3%

Technology

UB02.L
24.9%
XDJP.L
33.3%

Industrials

UB02.L
22.8%
XDJP.L
18.2%

Financial Services

UB02.L
17.6%
XDJP.L
2.9%

Consumer Cyclical

UB02.L
11.2%
XDJP.L
16.6%

Communication Services

UB02.L
8.1%
XDJP.L
14.3%

Healthcare

UB02.L
5.3%
XDJP.L
6.1%

Consumer Defensive

UB02.L
3.4%
XDJP.L
2.9%

Basic Materials

UB02.L
3.1%
XDJP.L
4.1%

Real Estate

UB02.L
1.9%
XDJP.L
1.2%

Utilities

UB02.L
1.0%
XDJP.L
0.1%

Energy

UB02.L
0.8%
XDJP.L
0.3%

Compare stocks, funds, or ETFs

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UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis

Xtrackers Nikkei 225 UCITS ETF 1D

Often compared with UB02.L:
UB02.L vs. CNKY.LUB02.L vs. IJPE.LUB02.L vs. 5ESG.LUB02.L vs. UC04.LUB02.L vs. UB01.LUB02.L vs. UC15.LUB02.L vs. IJPA.L
Often compared with XDJP.L:
XDJP.L vs. CNKY.LXDJP.L vs. VJPN.LXDJP.L vs. DXJXDJP.L vs. DXJG.LXDJP.L vs. CSJP.LXDJP.L vs. PRIJ.LXDJP.L vs. JPJP.L

Return for Risk

UB02.L vs. XDJP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UB02.L
UB02.L Risk / Return Rank: 6464
Overall Rank
UB02.L Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
UB02.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
UB02.L Omega Ratio Rank: 6161
Omega Ratio Rank
UB02.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
UB02.L Martin Ratio Rank: 6464
Martin Ratio Rank
XDJP.L
XDJP.L Risk / Return Rank: 7676
Overall Rank
XDJP.L Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
XDJP.L Sortino Ratio Rank: 7676
Sortino Ratio Rank
XDJP.L Omega Ratio Rank: 7070
Omega Ratio Rank
XDJP.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
XDJP.L Martin Ratio Rank: 7171
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UB02.L vs. XDJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). 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.

UB02.LXDJP.LDifference
Sharpe ratioReturn per unit of total volatility
1.53
1.95

-0.42

Sortino ratioReturn per unit of downside risk
2.16
2.69

-0.53

Omega ratioGain probability vs. loss probability

1.28

1.33

-0.04

Calmar ratioReturn relative to maximum drawdown

2.80

3.62

-0.82

Martin ratioReturn relative to average drawdown

8.41

10.03

-1.61

UB02.L vs. XDJP.L - Sharpe Ratio Comparison

The current UB02.L Sharpe Ratio is 1.53, which is comparable to the XDJP.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of UB02.L and XDJP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

UB02.L vs. XDJP.L - Drawdown Comparison

The maximum UB02.L drawdown since its inception was -23.08%, smaller than the maximum XDJP.L drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for UB02.L and XDJP.L.

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Drawdown Indicators

UB02.LXDJP.LDifference

Max Drawdown

Largest peak-to-trough decline

-23.08%

-99.99%

+76.91%

Max Drawdown (1Y)

Largest decline over 1 year

-10.68%

-13.49%

+2.81%

Max Drawdown (3Y)

Largest decline over 3 years

-14.15%

-18.82%

+4.67%

Max Drawdown (5Y)

Largest decline over 5 years

-18.58%

-20.61%

+2.03%

Max Drawdown (10Y)

Largest decline over 10 years

-23.08%

-23.69%

+0.61%

Current Drawdown

Current decline from peak

-8.47%

-99.97%

+91.50%

Average Drawdown

Average peak-to-trough decline

-5.87%

-99.40%

+93.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

4.88%

-1.32%

Volatility

UB02.L vs. XDJP.L - Volatility Comparison

The current volatility for UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis (UB02.L) is 6.74%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 9.87%. This indicates that UB02.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UB02.LXDJP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.74%

9.87%

-3.13%

Volatility (6M)

Calculated over the trailing 6-month period

16.22%

20.69%

-4.47%

Volatility (1Y)

Calculated over the trailing 1-year period

19.60%

25.11%

-5.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

18.43%

-2.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.79%

17.50%

-1.71%

UB02.L vs. XDJP.L - Expense Ratio Comparison

UB02.L has a 0.19% expense ratio, which is higher than XDJP.L's 0.09% 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

UB02.L vs. XDJP.L - Dividend Comparison

UB02.L's dividend yield for the trailing twelve months is around 1.65%, more than XDJP.L's 1.10% yield.

PositionTTM20252024202320222021202020192018201720162015
UB02.L
UBS ETF (LU) MSCI Japan UCITS ETF (JPY) A-dis		1.65%1.68%1.71%1.82%1.99%1.58%1.62%1.75%1.56%1.30%1.45%1.18%
XDJP.L
Xtrackers Nikkei 225 UCITS ETF 1D		1.10%1.33%1.41%1.60%2.47%1.20%1.11%1.13%1.24%0.72%0.83%0.16%

Frequently Asked Questions

UB02.L and XDJP.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XDJP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XDJP.L is cheaper with a 0.09% expense ratio, compared with 0.19% for UB02.L.

Both ETFs track TOPIX TR JPY. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.19% for UB02.L and 0.09% for XDJP.L.

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