XSMW.L vs. XDJP.L

Last updated Jun 5, 2026

XSMW.L (Xtrackers MSCI World Materials UCITS ETF 1C) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both exchange-traded funds - XSMW.L is a Materials fund tracking the MSCI World Materials Index, while XDJP.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past year, XSMW.L returned 33.49% vs 64.30% for XDJP.L. A 0.52 correlation means they provide meaningful diversification when combined. XSMW.L charges 0.25%/yr vs 0.09%/yr for XDJP.L.

Performance

XSMW.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI World Materials UCITS ETF 1C (XSMW.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XSMW.L achieves a 15.77% return, which is significantly lower than XDJP.L's 31.98% return.

XSMW.L

• 1D: -0.50%
• 1M: 4.62%
• YTD: 15.77%
• 6M: 19.28%
• 1Y: 33.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDJP.L

• 1D: -1.35%
• 1M: 10.95%
• YTD: 31.98%
• 6M: 29.24%
• 1Y: 64.30%
• 3Y*: 20.95%
• 5Y*: 12.61%
• 10Y*: 13.14%

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

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

	2026 (YTD)	2025	2024	2023
XSMW.L Xtrackers MSCI World Materials UCITS ETF 1C	15.77%	17.51%	-4.39%	8.73%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	31.98%	21.04%	9.67%	6.90%

Correlation

The correlation between XSMW.L and XDJP.L is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023	0.52

The correlation between XSMW.L and XDJP.L has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

Return for Risk

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

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

XSMW.L

XSMW.L Risk / Return Rank: 55
XSMW.L Sharpe Ratio Rank: 60
XSMW.L Sortino Ratio Rank: 59
XSMW.L Omega Ratio Rank: 58
XSMW.L Calmar Ratio Rank: 47
XSMW.L Martin Ratio Rank: 53

XDJP.L

XDJP.L Risk / Return Rank: 84
XDJP.L Sharpe Ratio Rank: 87
XDJP.L Sortino Ratio Rank: 87
XDJP.L Omega Ratio Rank: 81
XDJP.L Calmar Ratio Rank: 86
XDJP.L Martin Ratio Rank: 77

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Materials UCITS ETF 1C (XSMW.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.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.

	XSMW.L	XDJP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.85	-0.87
Sortino ratio: Return per unit of downside risk	2.73	3.94	-1.21
Omega ratio: Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	2.28	4.77	-2.49
Martin ratio: Return relative to average drawdown	8.86	14.50	-5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XSMW.L Sharpe Ratio is 1.98, which is lower than the XDJP.L Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of XSMW.L and XDJP.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.

Sharpe Ratios by Period

	XSMW.L	XDJP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.85	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.75	+0.13

Drawdowns

XSMW.L vs. XDJP.L - Drawdown Comparison

The maximum XSMW.L drawdown since its inception was -18.45%, smaller than the maximum XDJP.L drawdown of -23.69%. Use the drawdown chart below to compare losses from any high point for XSMW.L and XDJP.L.

Drawdown Indicators

	XSMW.L	XDJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.45%	-23.69%	+5.24%
Max Drawdown (1Y) Largest decline over 1 year	-14.60%	-13.40%	-1.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-23.69%	—
Current Drawdown Current decline from peak	-3.47%	-1.35%	-2.12%
Average Drawdown Average peak-to-trough decline	-4.32%	-6.79%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.77%	4.42%	-0.65%

Volatility

XSMW.L vs. XDJP.L - Volatility Comparison

Xtrackers MSCI World Materials UCITS ETF 1C (XSMW.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) have volatilities of 6.86% and 6.75%, 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

	XSMW.L	XDJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	6.75%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	17.68%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	16.87%	22.44%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	17.72%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.90%	17.63%	-2.73%

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

XSMW.L has a 0.25% expense ratio, which is higher than XDJP.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XSMW.L vs. XDJP.L - Dividend Comparison

XSMW.L has not paid dividends to shareholders, while XDJP.L's dividend yield for the trailing twelve months is around 1.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	1.04%	1.33%	1.41%	1.59%	2.47%	1.20%	1.11%	1.13%	1.24%	0.72%	0.83%	0.16%
XSMW.L Xtrackers MSCI World Materials UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XSMW.L and XDJP.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XDJP.L is cheaper with a 0.09% expense ratio, compared with 0.25% for XSMW.L.

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

XSMW.L is categorized as Materials, while XDJP.L is Japan Equities. XSMW.L tracks MSCI World Materials Index, while XDJP.L tracks TOPIX TR JPY. Their fees differ too: 0.25% for XSMW.L and 0.09% for XDJP.L.