XMK9.DE vs. NS4E.DE
XMK9.DE (Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged) and NS4E.DE (Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg)) are both Japan Equities funds - XMK9.DE tracks the MSCI Japan while NS4E.DE tracks the JPX-Nikkei Index 400. Both are passively managed. Over the past 10 years, XMK9.DE returned 14.18%/yr vs 14.29%/yr for NS4E.DE. With a 0.99 correlation, they move nearly in lockstep. XMK9.DE charges 0.40%/yr vs 0.19%/yr for NS4E.DE.
Performance
XMK9.DE vs. NS4E.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XMK9.DE having a 20.76% return and NS4E.DE slightly lower at 20.29%. Both investments have delivered pretty close results over the past 10 years, with XMK9.DE having a 14.18% annualized return and NS4E.DE not far ahead at 14.29%.
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%
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%
XMK9.DE vs. NS4E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMK9.DE Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged | 20.76% | 27.06% | 22.48% | 33.32% | -6.06% | 11.96% | 7.38% | 17.43% | -16.83% | 18.73% |
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 XMK9.DE and NS4E.DE is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2015 | 0.99 |
The correlation between XMK9.DE and NS4E.DE has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
XMK9.DE vs. NS4E.DE — Risk / Return Rank
XMK9.DE
NS4E.DE
XMK9.DE vs. NS4E.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 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.
| XMK9.DE | NS4E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.44 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.08 | 4.91 | +0.17 |
| Martin ratioReturn relative to average drawdown | 16.58 | 16.90 | -0.31 |
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Drawdowns
XMK9.DE vs. NS4E.DE - Drawdown Comparison
The maximum XMK9.DE drawdown since its inception was -34.30%, roughly equal to the maximum NS4E.DE drawdown of -35.32%. Use the drawdown chart below to compare losses from any high point for XMK9.DE and NS4E.DE.
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Drawdown Indicators
| XMK9.DE | NS4E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.30% | -35.32% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -9.73% | -9.59% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -21.74% | -20.96% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -21.74% | -20.96% | -0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -34.30% | -35.32% | +1.02% |
Current DrawdownCurrent decline from peak | -3.16% | -2.02% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -8.00% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 2.79% | +0.20% |
Volatility
XMK9.DE vs. NS4E.DE - Volatility Comparison
Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) has a higher volatility of 7.31% compared to Invesco JPX-Nikkei 400 UCITS ETF (EUR Hdg) (NS4E.DE) at 5.89%. This indicates that XMK9.DE's price experiences larger fluctuations and is considered to be riskier than NS4E.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 | NS4E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 5.89% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 16.45% | 15.50% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.66% | 19.46% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.90% | 18.19% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 18.19% | +0.32% |
XMK9.DE vs. NS4E.DE - Expense Ratio Comparison
XMK9.DE has a 0.40% expense ratio, which is higher than NS4E.DE's 0.19% expense ratio.
Dividends
XMK9.DE vs. NS4E.DE - Dividend Comparison
Neither XMK9.DE nor NS4E.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, XMK9.DE and NS4E.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, NS4E.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NS4E.DE is cheaper with a 0.19% expense ratio, compared with 0.40% for XMK9.DE.
XMK9.DE tracks MSCI Japan, while NS4E.DE tracks JPX-Nikkei Index 400. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.40% for XMK9.DE and 0.19% for NS4E.DE.
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