XMK9.DE vs. JNHD.DE
XMK9.DE (Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged) and JNHD.DE (Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - XMK9.DE tracks the MSCI Japan while JNHD.DE tracks the MSCI Japan Index (EUR Hedged). Both are passively managed. Over the past 5 years, XMK9.DE returned 19.70%/yr vs 19.63%/yr for JNHD.DE. With a 0.99 correlation, they move nearly in lockstep. XMK9.DE charges 0.40%/yr vs 0.20%/yr for JNHD.DE.
Performance
XMK9.DE vs. JNHD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with XMK9.DE having a 20.76% return and JNHD.DE slightly higher at 20.87%.
XMK9.DE
- 1D
- -0.98%
- 1M
- 0.82%
- 6M
- 13.78%
- YTD
- 20.76%
- 1Y
- 49.69%
- 3Y*
- 26.71%
- 5Y*
- 19.70%
- 10Y*
- 14.18%
JNHD.DE
- 1D
- -1.07%
- 1M
- 0.64%
- 6M
- 13.68%
- YTD
- 20.87%
- 1Y
- 49.88%
- 3Y*
- 27.17%
- 5Y*
- 19.63%
- 10Y*
- —
XMK9.DE vs. JNHD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 20.76% | 27.06% | 22.48% | 33.32% | -6.06% | 11.96% | 11.65% |
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 20.87% | 27.52% | 23.21% | 32.66% | -7.11% | 11.87% | 12.61% |
Correlation
The correlation between XMK9.DE and JNHD.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 | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.99 |
The correlation between XMK9.DE and JNHD.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
XMK9.DE vs. JNHD.DE — Risk / Return Rank
XMK9.DE
JNHD.DE
XMK9.DE vs. JNHD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) and Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.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.
| XMK9.DE | JNHD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 5.08 | 5.16 | -0.08 |
| Martin ratioReturn relative to average drawdown | 16.58 | 17.07 | -0.49 |
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Drawdowns
XMK9.DE vs. JNHD.DE - Drawdown Comparison
The maximum XMK9.DE drawdown since its inception was -34.30%, which is greater than JNHD.DE's maximum drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for XMK9.DE and JNHD.DE.
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Drawdown Indicators
| XMK9.DE | JNHD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.30% | -21.83% | -12.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.73% | -9.62% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -21.74% | -21.83% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -21.74% | -21.83% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -34.30% | — | — |
Current DrawdownCurrent decline from peak | -3.16% | -3.25% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -4.16% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.91% | +0.08% |
Volatility
XMK9.DE vs. JNHD.DE - Volatility Comparison
Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) has a higher volatility of 7.31% compared to Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.DE) at 6.77%. This indicates that XMK9.DE's price experiences larger fluctuations and is considered to be riskier than JNHD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMK9.DE | JNHD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 6.77% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 16.45% | 16.28% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.66% | 20.83% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.90% | 18.86% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 18.39% | +0.12% |
XMK9.DE vs. JNHD.DE - Expense Ratio Comparison
XMK9.DE has a 0.40% expense ratio, which is higher than JNHD.DE's 0.20% expense ratio.
Dividends
XMK9.DE vs. JNHD.DE - Dividend Comparison
XMK9.DE has not paid dividends to shareholders, while JNHD.DE's dividend yield for the trailing twelve months is around 1.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) | 1.50% | 1.82% | 1.85% | 1.72% | 2.52% | 1.83% | 0.78% |
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, XMK9.DE and JNHD.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, JNHD.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JNHD.DE is cheaper with a 0.20% expense ratio, compared with 0.40% for XMK9.DE.
XMK9.DE tracks MSCI Japan, while JNHD.DE tracks MSCI Japan Index (EUR Hedged). They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.40% for XMK9.DE and 0.20% for JNHD.DE.
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