XZMJ.DE vs. JNHD.DE

Last updated Jul 18, 2026

XZMJ.DE (Xtrackers MSCI Japan ESG UCITS ETF 1C) and JNHD.DE (Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - XZMJ.DE tracks the MSCI Japan Low Carbon SRI Leaders while JNHD.DE tracks the MSCI Japan Index (EUR Hedged). Both are passively managed. Over the past 5 years, XZMJ.DE returned 8.04%/yr vs 18.86%/yr for JNHD.DE. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

XZMJ.DE vs. JNHD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers MSCI Japan ESG UCITS ETF 1C (XZMJ.DE) and Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XZMJ.DE achieves a 13.09% return, which is significantly lower than JNHD.DE's 17.02% return.

XZMJ.DE

• 1D: -2.48%
• 1M: -3.92%
• 6M: 7.93%
• YTD: 13.09%
• 1Y: 29.07%
• 3Y*: 15.04%
• 5Y*: 8.04%
• 10Y*: —

JNHD.DE

• 1D: -2.37%
• 1M: -4.29%
• 6M: 9.62%
• YTD: 17.02%
• 1Y: 44.20%
• 3Y*: 25.21%
• 5Y*: 18.86%
• 10Y*: —

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

XZMJ.DE vs. JNHD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XZMJ.DE Xtrackers MSCI Japan ESG UCITS ETF 1C	13.09%	10.86%	16.16%	14.57%	-16.10%	7.03%	10.42%
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)	17.02%	27.52%	23.21%	32.66%	-7.11%	11.87%	12.61%

Correlation

The correlation between XZMJ.DE and JNHD.DE is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020	0.81

The correlation between XZMJ.DE and JNHD.DE has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

Return for Risk

XZMJ.DE vs. JNHD.DE — Risk / Return Rank

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

XZMJ.DE

XZMJ.DE Risk / Return Rank: 54
XZMJ.DE Sharpe Ratio Rank: 51
XZMJ.DE Sortino Ratio Rank: 52
XZMJ.DE Omega Ratio Rank: 51
XZMJ.DE Calmar Ratio Rank: 61
XZMJ.DE Martin Ratio Rank: 57

JNHD.DE

JNHD.DE Risk / Return Rank: 87
JNHD.DE Sharpe Ratio Rank: 85
JNHD.DE Sortino Ratio Rank: 85
JNHD.DE Omega Ratio Rank: 84
JNHD.DE Calmar Ratio Rank: 92
JNHD.DE Martin Ratio Rank: 89

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.

XZMJ.DE vs. JNHD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan ESG UCITS ETF 1C (XZMJ.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.

	XZMJ.DE	JNHD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.10	-0.77
Sortino ratio: Return per unit of downside risk	1.96	2.97	-1.01
Omega ratio: Gain probability vs. loss probability	1.25	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	2.29	4.57	-2.28
Martin ratio: Return relative to average drawdown	7.46	14.93	-7.47

XZMJ.DE vs. JNHD.DE - Sharpe Ratio Comparison

The current XZMJ.DE Sharpe Ratio is 1.34, which is lower than the JNHD.DE Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of XZMJ.DE and JNHD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XZMJ.DE vs. JNHD.DE - Drawdown Comparison

The maximum XZMJ.DE drawdown since its inception was -30.29%, 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 XZMJ.DE and JNHD.DE.

Drawdown Indicators

	XZMJ.DE	JNHD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-30.29%	-21.83%	-8.46%
Max Drawdown (1Y) Largest decline over 1 year	-12.62%	-9.62%	-3.00%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-21.83%	+3.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.51%	-21.83%	+0.32%
Current Drawdown Current decline from peak	-6.88%	-6.33%	-0.55%
Average Drawdown Average peak-to-trough decline	-9.87%	-4.16%	-5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	2.95%	+0.94%

Volatility

XZMJ.DE vs. JNHD.DE - Volatility Comparison

Xtrackers MSCI Japan ESG UCITS ETF 1C (XZMJ.DE) and Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist) (JNHD.DE) have volatilities of 6.75% and 6.92%, 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

	XZMJ.DE	JNHD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	6.92%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	17.79%	16.49%	+1.30%
Volatility (1Y) Calculated over the trailing 1-year period	21.75%	20.97%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	18.88%	-1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	18.41%	+1.58%

XZMJ.DE vs. JNHD.DE - Expense Ratio Comparison

Both XZMJ.DE and JNHD.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

XZMJ.DE vs. JNHD.DE - Dividend Comparison

XZMJ.DE has not paid dividends to shareholders, while JNHD.DE's dividend yield for the trailing twelve months is around 1.55%.

Position	TTM	2025	2024	2023	2022	2021	2020
JNHD.DE Amundi Core MSCI Japan UCITS ETF EUR Hedged (Dist)	1.55%	1.82%	1.85%	1.72%	2.52%	1.83%	0.78%
XZMJ.DE Xtrackers MSCI Japan ESG UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XZMJ.DE and JNHD.DE in my portfolio?

XZMJ.DE and JNHD.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XZMJ.DE or JNHD.DE?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XZMJ.DE or JNHD.DE?

XZMJ.DE and JNHD.DE have the same expense ratio: 0.20% per year.

What is the main difference between XZMJ.DE and JNHD.DE?

XZMJ.DE tracks MSCI Japan Low Carbon SRI Leaders, while JNHD.DE tracks MSCI Japan Index (EUR Hedged). They also come from different issuers: Xtrackers and Amundi.