ZPDJ.DE vs. JP40.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and JP40.DE (Amundi JPX Nikkei 400 UCITS ETF EUR) are both Japan Equities funds - ZPDJ.DE tracks the MSCI Japan while JP40.DE tracks the JPX-Nikkei 400. Both are passively managed. Over the past 10 years, ZPDJ.DE returned 9.18%/yr vs 8.93%/yr for JP40.DE. With a 0.96 correlation, they move nearly in lockstep. ZPDJ.DE charges 0.12%/yr vs 0.18%/yr for JP40.DE.
Performance
ZPDJ.DE vs. JP40.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 JP40.DE slightly lower at 16.15%. Both investments have delivered pretty close results over the past 10 years, with ZPDJ.DE having a 9.18% annualized return and JP40.DE not far behind at 8.93%.
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%
JP40.DE
- 1D
- -0.23%
- 1M
- 4.75%
- YTD
- 16.15%
- 6M
- 16.32%
- 1Y
- 28.73%
- 3Y*
- 14.99%
- 5Y*
- 9.88%
- 10Y*
- 8.93%
ZPDJ.DE vs. JP40.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% |
JP40.DE Amundi JPX Nikkei 400 UCITS ETF EUR | 16.15% | 12.78% | 13.18% | 15.77% | -11.05% | 8.49% | 4.79% | 22.33% | -10.68% | 9.57% |
Correlation
The correlation between ZPDJ.DE and JP40.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2015 | 0.96 |
The correlation between ZPDJ.DE and JP40.DE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. JP40.DE — Risk / Return Rank
ZPDJ.DE
JP40.DE
ZPDJ.DE vs. JP40.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) and Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.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 | JP40.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 3.03 | +0.03 |
| Martin ratioReturn relative to average drawdown | 9.86 | 10.04 | -0.19 |
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 | JP40.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 1.58 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.59 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.54 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.46 | -0.03 |
Drawdowns
ZPDJ.DE vs. JP40.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.06%, roughly equal to the maximum JP40.DE drawdown of -28.51%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and JP40.DE.
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Drawdown Indicators
| ZPDJ.DE | JP40.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.06% | -28.51% | +0.45% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -9.43% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -15.82% | -1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -19.66% | +0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -28.06% | -28.51% | +0.45% |
Current DrawdownCurrent decline from peak | -0.45% | -0.23% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -6.10% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 2.85% | +0.25% |
Volatility
ZPDJ.DE vs. JP40.DE - Volatility Comparison
SPDR MSCI Japan UCITS ETF (ZPDJ.DE) has a higher volatility of 3.60% compared to Amundi JPX Nikkei 400 UCITS ETF EUR (JP40.DE) at 3.29%. This indicates that ZPDJ.DE's price experiences larger fluctuations and is considered to be riskier than JP40.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 | JP40.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 3.29% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 14.70% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 18.10% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 16.56% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 16.50% | -0.10% |
ZPDJ.DE vs. JP40.DE - Expense Ratio Comparison
ZPDJ.DE has a 0.12% expense ratio, which is lower than JP40.DE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZPDJ.DE vs. JP40.DE - Dividend Comparison
Neither ZPDJ.DE nor JP40.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, ZPDJ.DE and JP40.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 0.18% for JP40.DE.
ZPDJ.DE tracks MSCI Japan, while JP40.DE tracks JPX-Nikkei 400. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.12% for ZPDJ.DE and 0.18% for JP40.DE.
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