XMK9.DE vs. ZPDJ.DE
XMK9.DE (Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged) and ZPDJ.DE (SPDR MSCI Japan UCITS ETF) are both Japan Equities funds tracking the MSCI Japan, from Xtrackers and State Street respectively. Both are passively managed. Over the past 10 years, XMK9.DE returned 13.95%/yr vs 9.18%/yr for ZPDJ.DE. Their correlation of 0.84 suggests significant overlap in exposure. XMK9.DE charges 0.40%/yr vs 0.12%/yr for ZPDJ.DE.
Performance
XMK9.DE vs. ZPDJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XMK9.DE achieves a 19.57% return, which is significantly higher than ZPDJ.DE's 16.79% return. Over the past 10 years, XMK9.DE has outperformed ZPDJ.DE with an annualized return of 13.95%, while ZPDJ.DE has yielded a comparatively lower 9.18% annualized return.
XMK9.DE
- 1D
- 0.46%
- 1M
- 6.02%
- YTD
- 19.57%
- 6M
- 21.48%
- 1Y
- 51.09%
- 3Y*
- 26.94%
- 5Y*
- 19.08%
- 10Y*
- 13.95%
ZPDJ.DE
- 1D
- -0.45%
- 1M
- 3.68%
- YTD
- 16.79%
- 6M
- 16.66%
- 1Y
- 31.89%
- 3Y*
- 15.52%
- 5Y*
- 10.06%
- 10Y*
- 9.18%
XMK9.DE vs. ZPDJ.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 | 19.57% | 27.06% | 22.49% | 33.31% | -6.05% | 11.97% | 7.34% | 17.42% | -16.83% | 18.79% |
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 16.79% | 12.60% | 13.75% | 16.51% | -12.51% | 9.97% | 5.16% | 21.83% | -9.81% | 9.06% |
Correlation
The correlation between XMK9.DE and ZPDJ.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015 | 0.84 |
The correlation between XMK9.DE and ZPDJ.DE has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.
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Return for Risk
XMK9.DE vs. ZPDJ.DE — Risk / Return Rank
XMK9.DE
ZPDJ.DE
XMK9.DE vs. ZPDJ.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 SPDR MSCI Japan UCITS ETF (ZPDJ.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.
| XMK9.DE | ZPDJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.32 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.21 | 3.06 | +2.15 |
| Martin ratioReturn relative to average drawdown | 17.91 | 9.86 | +8.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XMK9.DE | ZPDJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.64 | 1.64 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.01 | 0.60 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.56 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.44 | +0.26 |
Drawdowns
XMK9.DE vs. ZPDJ.DE - Drawdown Comparison
The maximum XMK9.DE drawdown since its inception was -34.29%, which is greater than ZPDJ.DE's maximum drawdown of -28.06%. Use the drawdown chart below to compare losses from any high point for XMK9.DE and ZPDJ.DE.
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Drawdown Indicators
| XMK9.DE | ZPDJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.29% | -28.06% | -6.23% |
Max Drawdown (1Y)Largest decline over 1 year | -9.72% | -9.98% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -21.74% | -16.90% | -4.84% |
Max Drawdown (5Y)Largest decline over 5 years | -21.74% | -19.10% | -2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -34.29% | -28.06% | -6.23% |
Current DrawdownCurrent decline from peak | 0.00% | -0.45% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -5.93% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 3.10% | -0.27% |
Volatility
XMK9.DE vs. ZPDJ.DE - Volatility Comparison
Xtrackers MSCI Japan UCITS ETF 4C EUR Hedged (XMK9.DE) and SPDR MSCI Japan UCITS ETF (ZPDJ.DE) have volatilities of 3.68% and 3.60%, 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.
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Volatility by Period
| XMK9.DE | ZPDJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 3.60% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 14.80% | 14.86% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.21% | 18.62% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.65% | 16.57% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 16.40% | +2.40% |
XMK9.DE vs. ZPDJ.DE - Expense Ratio Comparison
XMK9.DE has a 0.40% expense ratio, which is higher than ZPDJ.DE's 0.12% expense ratio.
Dividends
XMK9.DE vs. ZPDJ.DE - Dividend Comparison
Neither XMK9.DE nor ZPDJ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, XMK9.DE and ZPDJ.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, ZPDJ.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDJ.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for XMK9.DE.
Both ETFs track MSCI Japan. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.40% for XMK9.DE and 0.12% for ZPDJ.DE.
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