ZPDJ.DE vs. EUNN.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and EUNN.DE (iShares Core MSCI Japan IMI UCITS ETF) are both Japan Equities funds - ZPDJ.DE tracks the MSCI Japan while EUNN.DE tracks the MSCI Japan IMI. Both are passively managed. Over the past 10 years, ZPDJ.DE returned 9.18%/yr vs 9.05%/yr for EUNN.DE. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.12% expense ratio.
Performance
ZPDJ.DE vs. EUNN.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ZPDJ.DE having a 16.79% return and EUNN.DE slightly lower at 16.53%. Both investments have delivered pretty close results over the past 10 years, with ZPDJ.DE having a 9.18% annualized return and EUNN.DE not far behind at 9.05%.
ZPDJ.DE
- 1D
- -0.45%
- 1M
- 6.00%
- YTD
- 16.79%
- 6M
- 16.66%
- 1Y
- 30.67%
- 3Y*
- 15.52%
- 5Y*
- 10.06%
- 10Y*
- 9.18%
EUNN.DE
- 1D
- -0.27%
- 1M
- 5.77%
- YTD
- 16.53%
- 6M
- 16.83%
- 1Y
- 30.19%
- 3Y*
- 15.47%
- 5Y*
- 9.85%
- 10Y*
- 9.05%
ZPDJ.DE vs. EUNN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
EUNN.DE iShares Core MSCI Japan IMI UCITS ETF | 16.53% | 13.46% | 12.90% | 15.16% | -11.47% | 9.25% | 4.10% | 22.24% | -10.32% | 10.42% |
Correlation
The correlation between ZPDJ.DE and EUNN.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015 | 0.99 |
The correlation between ZPDJ.DE and EUNN.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. EUNN.DE — Risk / Return Rank
ZPDJ.DE
EUNN.DE
ZPDJ.DE vs. EUNN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) and iShares Core MSCI Japan IMI UCITS ETF (EUNN.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.
| ZPDJ.DE | EUNN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.14 | -0.08 |
| Martin ratioReturn relative to average drawdown | 9.86 | 10.51 | -0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZPDJ.DE | EUNN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 1.67 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.61 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.56 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.53 | -0.09 |
Drawdowns
ZPDJ.DE vs. EUNN.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.06%, roughly equal to the maximum EUNN.DE drawdown of -28.55%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and EUNN.DE.
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Drawdown Indicators
| ZPDJ.DE | EUNN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.06% | -28.55% | +0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -9.58% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -15.81% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -19.41% | +0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -28.06% | -28.55% | +0.49% |
Current DrawdownCurrent decline from peak | -0.45% | -0.27% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -6.85% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 2.86% | +0.24% |
Volatility
ZPDJ.DE vs. EUNN.DE - Volatility Comparison
SPDR MSCI Japan UCITS ETF (ZPDJ.DE) has a higher volatility of 3.60% compared to iShares Core MSCI Japan IMI UCITS ETF (EUNN.DE) at 3.16%. This indicates that ZPDJ.DE's price experiences larger fluctuations and is considered to be riskier than EUNN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPDJ.DE | EUNN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 3.16% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 14.53% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 17.97% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 16.04% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 16.08% | +0.32% |
ZPDJ.DE vs. EUNN.DE - Expense Ratio Comparison
Both ZPDJ.DE and EUNN.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ZPDJ.DE vs. EUNN.DE - Dividend Comparison
Neither ZPDJ.DE nor EUNN.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, ZPDJ.DE and EUNN.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.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ZPDJ.DE and EUNN.DE have the same expense ratio: 0.12% per year.
ZPDJ.DE tracks MSCI Japan, while EUNN.DE tracks MSCI Japan IMI. They also come from different issuers: State Street and iShares.
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