WTDX.DE vs. NS4E.DE

Last updated Jul 16, 2026

WTDX.DE (WisdomTree Japan Equity UCITS ETF USD Hedged) and NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) are both Japan Equities funds - WTDX.DE tracks the WisdomTree Japan Hedged Equity UCITS Index while NS4E.DE tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 10 years, WTDX.DE returned 18.14%/yr vs 14.29%/yr for NS4E.DE. A 0.71 correlation means they provide meaningful diversification when combined. WTDX.DE charges 0.48%/yr vs 0.19%/yr for NS4E.DE.

Performance

WTDX.DE vs. NS4E.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTDX.DE achieves a 26.25% return, which is significantly higher than NS4E.DE's 20.29% return. Over the past 10 years, WTDX.DE has outperformed NS4E.DE with an annualized return of 18.14%, while NS4E.DE has yielded a comparatively lower 14.29% annualized return.

WTDX.DE

• 1D: -0.37%
• 1M: 3.84%
• 6M: 17.92%
• YTD: 26.25%
• 1Y: 57.34%
• 3Y*: 32.07%
• 5Y*: 28.03%
• 10Y*: 18.14%

NS4E.DE

• 1D: -1.03%
• 1M: 1.65%
• 6M: 13.30%
• YTD: 20.29%
• 1Y: 47.35%
• 3Y*: 26.88%
• 5Y*: 20.14%
• 10Y*: 14.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WTDX.DE vs. NS4E.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WTDX.DE WisdomTree Japan Equity UCITS ETF USD Hedged	26.25%	17.86%	36.79%	37.12%	11.85%	27.70%	-6.91%	24.57%	-17.23%	8.62%
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)	20.29%	27.33%	22.81%	33.35%	-4.26%	10.90%	7.50%	17.31%	-17.52%	19.58%

Correlation

The correlation between WTDX.DE and NS4E.DE is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 18, 2015	0.71

The correlation between WTDX.DE and NS4E.DE shifts across timeframes, from 0.69 (10 years) to 0.88 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

WTDX.DE vs. NS4E.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WTDX.DE

WTDX.DE Risk / Return Rank: 94
WTDX.DE Sharpe Ratio Rank: 94
WTDX.DE Sortino Ratio Rank: 93
WTDX.DE Omega Ratio Rank: 93
WTDX.DE Calmar Ratio Rank: 96
WTDX.DE Martin Ratio Rank: 95

NS4E.DE

NS4E.DE Risk / Return Rank: 90
NS4E.DE Sharpe Ratio Rank: 90
NS4E.DE Sortino Ratio Rank: 89
NS4E.DE Omega Ratio Rank: 88
NS4E.DE Calmar Ratio Rank: 93
NS4E.DE Martin Ratio Rank: 91

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.

WTDX.DE vs. NS4E.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.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.

	WTDX.DE	NS4E.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.42	+0.46
Sortino ratio: Return per unit of downside risk	3.81	3.34	+0.47
Omega ratio: Gain probability vs. loss probability	1.51	1.44	+0.07
Calmar ratio: Return relative to maximum drawdown	7.05	4.91	+2.14
Martin ratio: Return relative to average drawdown	23.54	16.90	+6.64

WTDX.DE vs. NS4E.DE - Sharpe Ratio Comparison

The current WTDX.DE Sharpe Ratio is 2.88, which is comparable to the NS4E.DE Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of WTDX.DE and NS4E.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WTDX.DE vs. NS4E.DE - Drawdown Comparison

The maximum WTDX.DE drawdown since its inception was -38.23%, which is greater than NS4E.DE's maximum drawdown of -35.32%. Use the drawdown chart below to compare losses from any high point for WTDX.DE and NS4E.DE.

Drawdown Indicators

	WTDX.DE	NS4E.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.23%	-35.32%	-2.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-9.59%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-23.65%	-20.96%	-2.69%
Max Drawdown (5Y) Largest decline over 5 years	-23.65%	-20.96%	-2.69%
Max Drawdown (10Y) Largest decline over 10 years	-32.53%	-35.32%	+2.79%
Current Drawdown Current decline from peak	-1.71%	-2.02%	+0.31%
Average Drawdown Average peak-to-trough decline	-9.16%	-8.00%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	2.79%	-0.36%

Volatility

WTDX.DE vs. NS4E.DE - Volatility Comparison

WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) have volatilities of 5.75% and 5.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTDX.DE	NS4E.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	5.89%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	14.68%	15.50%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	19.79%	19.46%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	18.19%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.52%	18.19%	+3.33%

WTDX.DE vs. NS4E.DE - Expense Ratio Comparison

WTDX.DE has a 0.48% expense ratio, which is higher than NS4E.DE's 0.19% expense ratio.

Dividends

WTDX.DE vs. NS4E.DE - Dividend Comparison

WTDX.DE's dividend yield for the trailing twelve months is around 0.80%, while NS4E.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NS4E.DE Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WTDX.DE WisdomTree Japan Equity UCITS ETF USD Hedged	0.80%	1.68%	1.52%	1.97%	2.28%	1.52%	2.10%	2.01%	2.17%	1.14%	1.90%	0.06%

Frequently Asked Questions

Can I hold both WTDX.DE and NS4E.DE in my portfolio?

WTDX.DE and NS4E.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WTDX.DE or NS4E.DE?

On fees, NS4E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WTDX.DE or NS4E.DE?

NS4E.DE is cheaper with a 0.19% expense ratio, compared with 0.48% for WTDX.DE.

What is the main difference between WTDX.DE and NS4E.DE?

WTDX.DE tracks WisdomTree Japan Hedged Equity UCITS Index, while NS4E.DE tracks JPX-Nikkei Index 400. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.48% for WTDX.DE and 0.19% for NS4E.DE.