XDJP.L vs. HMAD.L

Last updated Jul 16, 2026

XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) and HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) are both Japan Equities funds - XDJP.L tracks the TOPIX TR JPY while HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. Both are passively managed. Over the past 10 years, XDJP.L returned 11.82%/yr vs 9.83%/yr for HMAD.L. A 0.58 correlation means they provide meaningful diversification when combined. XDJP.L charges 0.09%/yr vs 0.45%/yr for HMAD.L.

Performance

XDJP.L vs. HMAD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XDJP.L is traded in GBp, while HMAD.L is traded in USD. To make them comparable, the HMAD.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XDJP.L achieves a 30.27% return, which is significantly higher than HMAD.L's 27.63% return. Over the past 10 years, XDJP.L has outperformed HMAD.L with an annualized return of 11.82%, while HMAD.L has yielded a comparatively lower 9.83% annualized return.

XDJP.L

• 1D: -1.87%
• 1M: -3.97%
• 6M: 22.43%
• YTD: 30.27%
• 1Y: 57.42%
• 3Y*: 21.91%
• 5Y*: 12.72%
• 10Y*: 11.82%

HMAD.L

• 1D: 0.00%
• 1M: -8.01%
• 6M: 19.83%
• YTD: 27.63%
• 1Y: 49.02%
• 3Y*: 23.44%
• 5Y*: 7.98%
• 10Y*: 9.83%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	30.27%	21.04%	9.68%	15.52%	-10.26%	-3.79%	21.77%	16.59%	-3.53%	14.74%
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF	27.63%	31.35%	13.79%	-3.37%	-12.48%	-7.95%	22.35%	13.10%	-9.90%	29.81%

Correlation

The correlation between XDJP.L and HMAD.L is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013	0.58

The correlation between XDJP.L and HMAD.L shifts across timeframes, from 0.51 (5 years) to 0.67 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

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

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

XDJP.L

XDJP.L Risk / Return Rank: 85
XDJP.L Sharpe Ratio Rank: 88
XDJP.L Sortino Ratio Rank: 85
XDJP.L Omega Ratio Rank: 81
XDJP.L Calmar Ratio Rank: 89
XDJP.L Martin Ratio Rank: 79

HMAD.L

HMAD.L Risk / Return Rank: 77
HMAD.L Sharpe Ratio Rank: 77
HMAD.L Sortino Ratio Rank: 70
HMAD.L Omega Ratio Rank: 75
HMAD.L Calmar Ratio Rank: 86
HMAD.L Martin Ratio Rank: 75

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.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.

	XDJP.L	HMAD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.08	+0.22
Sortino ratio: Return per unit of downside risk	3.09	2.67	+0.43
Omega ratio: Gain probability vs. loss probability	1.38	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	4.26	4.26	0.00
Martin ratio: Return relative to average drawdown	12.05	11.84	+0.21

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

The current XDJP.L Sharpe Ratio is 2.30, which is comparable to the HMAD.L Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of XDJP.L and HMAD.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.

Drawdowns

XDJP.L vs. HMAD.L - Drawdown Comparison

The maximum XDJP.L drawdown since its inception was -99.99%, which is greater than HMAD.L's maximum drawdown of -39.79%. Use the drawdown chart below to compare losses from any high point for XDJP.L and HMAD.L.

Drawdown Indicators

	XDJP.L	HMAD.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-39.79%	-60.20%
Max Drawdown (1Y) Largest decline over 1 year	-13.40%	-11.48%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	-18.82%	-19.67%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-20.61%	-32.77%	+12.16%
Max Drawdown (10Y) Largest decline over 10 years	-23.69%	-39.79%	+16.10%
Current Drawdown Current decline from peak	-99.97%	-11.48%	-88.49%
Average Drawdown Average peak-to-trough decline	-99.40%	-12.55%	-86.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	4.14%	+0.61%

Volatility

XDJP.L vs. HMAD.L - Volatility Comparison

Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) have volatilities of 10.17% and 10.66%, 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

	XDJP.L	HMAD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.17%	10.66%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	20.40%	20.75%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	24.88%	23.52%	+1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	20.50%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.47%	20.07%	-2.60%

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

XDJP.L has a 0.09% expense ratio, which is lower than HMAD.L's 0.45% expense ratio.

Dividends

XDJP.L vs. HMAD.L - Dividend Comparison

XDJP.L's dividend yield for the trailing twelve months is around 1.05%, while HMAD.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN 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%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	1.05%	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

Can I hold both XDJP.L and HMAD.L in my portfolio?

XDJP.L and HMAD.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDJP.L or HMAD.L?

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.

Which ETF is cheaper, XDJP.L or HMAD.L?

XDJP.L is cheaper with a 0.09% expense ratio, compared with 0.45% for HMAD.L.

What is the main difference between XDJP.L and HMAD.L?

XDJP.L tracks TOPIX TR JPY, while HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.09% for XDJP.L and 0.45% for HMAD.L.