XUEK.L vs. XDJP.L

Last updated Jun 5, 2026

XUEK.L (Xtrackers S&P Europe ex UK UCITS ETF) and XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) are both exchange-traded funds - XUEK.L is a Europe Equities fund tracking the MSCI Europe Ex UK NR EUR, while XDJP.L is a Japan Equities fund tracking the TOPIX TR JPY. Both are passively managed. Over the past 5 years, XUEK.L returned 6.75%/yr vs 12.61%/yr for XDJP.L. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.

Performance

XUEK.L vs. XDJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers S&P Europe ex UK UCITS ETF (XUEK.L) and Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XUEK.L achieves a 5.66% return, which is significantly lower than XDJP.L's 31.98% return.

XUEK.L

• 1D: 0.80%
• 1M: 3.49%
• YTD: 5.66%
• 6M: 7.69%
• 1Y: 15.69%
• 3Y*: 11.05%
• 5Y*: 6.75%
• 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)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XUEK.L Xtrackers S&P Europe ex UK UCITS ETF	5.66%	23.26%	0.43%	12.46%	-11.69%	15.48%	4.79%	18.78%
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D	31.98%	21.04%	9.67%	15.52%	-10.26%	-3.79%	21.77%	14.63%

Correlation

The correlation between XUEK.L and XDJP.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 18, 2019	0.62

The correlation between XUEK.L and XDJP.L has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.

XUEK.L vs. XDJP.L - Sectors Allocation Comparison

Sectors	XUEK.L	XDJP.L
Financial Services	23.5%	3.1%
Industrials	21.2%	19.4%
Healthcare	13.0%	6.7%
Technology	10.9%	31.9%
Consumer Cyclical	7.1%	16.9%
Consumer Defensive	7.0%	3.3%
Utilities	4.9%	0.2%
Basic Materials	4.5%	4.3%
Energy	3.8%	0.3%
Communication Services	3.6%	12.4%
Real Estate	0.6%	1.5%

Return for Risk

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

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

XUEK.L

XUEK.L Risk / Return Rank: 33
XUEK.L Sharpe Ratio Rank: 34
XUEK.L Sortino Ratio Rank: 33
XUEK.L Omega Ratio Rank: 34
XUEK.L Calmar Ratio Rank: 30
XUEK.L Martin Ratio Rank: 34

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P Europe ex UK UCITS ETF (XUEK.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.

	XUEK.L	XDJP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.85	-1.66
Sortino ratio: Return per unit of downside risk	1.72	3.94	-2.22
Omega ratio: Gain probability vs. loss probability	1.22	1.48	-0.25
Calmar ratio: Return relative to maximum drawdown	1.44	4.77	-3.34
Martin ratio: Return relative to average drawdown	4.99	14.50	-9.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XUEK.L Sharpe Ratio is 1.20, which is lower than the XDJP.L Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of XUEK.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

	XUEK.L	XDJP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	2.85	-1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.71	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.75	-0.21

Drawdowns

XUEK.L vs. XDJP.L - Drawdown Comparison

The maximum XUEK.L drawdown since its inception was -27.36%, which is greater than XDJP.L's maximum drawdown of -23.69%. Use the drawdown chart below to compare losses from any high point for XUEK.L and XDJP.L.

Drawdown Indicators

	XUEK.L	XDJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-23.69%	-3.67%
Max Drawdown (1Y) Largest decline over 1 year	-10.88%	-13.40%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-13.04%	-18.82%	+5.78%
Max Drawdown (5Y) Largest decline over 5 years	-23.76%	-20.61%	-3.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.69%	—
Current Drawdown Current decline from peak	-1.01%	-1.35%	+0.34%
Average Drawdown Average peak-to-trough decline	-5.45%	-6.79%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	4.42%	-1.28%

Volatility

XUEK.L vs. XDJP.L - Volatility Comparison

The current volatility for Xtrackers S&P Europe ex UK UCITS ETF (XUEK.L) is 3.83%, while Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a volatility of 6.75%. This indicates that XUEK.L experiences smaller price fluctuations and is considered to be less risky than XDJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XUEK.L	XDJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	6.75%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	17.68%	-7.12%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	22.44%	-9.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	17.72%	-2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.37%	17.63%	-1.26%

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

Both XUEK.L and XDJP.L have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XUEK.L vs. XDJP.L - Dividend Comparison

XUEK.L's dividend yield for the trailing twelve months is around 0.02%, less than XDJP.L's 1.04% yield.

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%
XUEK.L Xtrackers S&P Europe ex UK UCITS ETF	0.02%	0.02%	0.03%	0.03%	0.05%	0.01%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XUEK.L and XDJP.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

XUEK.L and XDJP.L have the same expense ratio: 0.09% per year.

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

XUEK.L is categorized as Europe Equities, while XDJP.L is Japan Equities. XUEK.L tracks MSCI Europe Ex UK NR EUR, while XDJP.L tracks TOPIX TR JPY.