ZPDJ.DE vs. XDJE.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and XDJE.DE (Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist)) are both Japan Equities funds - ZPDJ.DE tracks the MSCI Japan while XDJE.DE tracks the Nikkei 225 Index (EUR Hedged). Both are passively managed. Over the past 5 years, ZPDJ.DE returned 9.50%/yr vs 21.52%/yr for XDJE.DE. A 0.76 correlation means they provide meaningful diversification when combined. ZPDJ.DE charges 0.12%/yr vs 0.19%/yr for XDJE.DE.
Performance
ZPDJ.DE vs. XDJE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPDJ.DE achieves a 14.95% return, which is significantly lower than XDJE.DE's 29.05% return.
ZPDJ.DE
- 1D
- -2.40%
- 1M
- -3.79%
- 6M
- 7.97%
- YTD
- 14.95%
- 1Y
- 32.29%
- 3Y*
- 15.49%
- 5Y*
- 9.50%
- 10Y*
- 8.58%
XDJE.DE
- 1D
- -2.96%
- 1M
- -8.43%
- 6M
- 21.32%
- YTD
- 29.05%
- 1Y
- 64.75%
- 3Y*
- 29.87%
- 5Y*
- 21.52%
- 10Y*
- —
ZPDJ.DE vs. XDJE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 14.95% | 12.53% | 13.75% | 16.51% | -12.51% | 9.95% | 5.17% | 21.82% | -6.76% |
XDJE.DE Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) | 29.05% | 30.93% | 23.55% | 35.26% | -9.02% | 5.24% | 16.17% | 16.86% | -7.63% |
Correlation
The correlation between ZPDJ.DE and XDJE.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.76 |
The correlation between ZPDJ.DE and XDJE.DE has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. XDJE.DE — Risk / Return Rank
ZPDJ.DE
XDJE.DE
ZPDJ.DE vs. XDJE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) and Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) (XDJE.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.
| ZPDJ.DE | XDJE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 5.05 | -2.00 |
| Martin ratioReturn relative to average drawdown | 10.13 | 15.20 | -5.07 |
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Drawdowns
ZPDJ.DE vs. XDJE.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.05%, smaller than the maximum XDJE.DE drawdown of -32.45%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and XDJE.DE.
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Drawdown Indicators
| ZPDJ.DE | XDJE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.05% | -32.45% | +4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -12.77% | +2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -22.87% | +5.96% |
Max Drawdown (5Y)Largest decline over 5 years | -19.08% | -22.87% | +3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -28.05% | — | — |
Current DrawdownCurrent decline from peak | -6.67% | -11.44% | +4.77% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -6.09% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 4.25% | -1.07% |
Volatility
ZPDJ.DE vs. XDJE.DE - Volatility Comparison
The current volatility for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) is 7.22%, while Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) (XDJE.DE) has a volatility of 9.85%. This indicates that ZPDJ.DE experiences smaller price fluctuations and is considered to be less risky than XDJE.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 | XDJE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.22% | 9.85% | -2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 16.87% | 21.43% | -4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.70% | 26.88% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 21.20% | -4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.57% | 22.07% | -5.50% |
ZPDJ.DE vs. XDJE.DE - Expense Ratio Comparison
ZPDJ.DE has a 0.12% expense ratio, which is lower than XDJE.DE's 0.19% 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. XDJE.DE - Dividend Comparison
ZPDJ.DE has not paid dividends to shareholders, while XDJE.DE's dividend yield for the trailing twelve months is around 0.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
XDJE.DE Xtrackers Nikkei 225 UCITS ETF EUR Hedged (Dist) | 0.85% | 1.11% | 1.21% | 1.32% | 2.27% | 1.08% | 1.00% |
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPDJ.DE and XDJE.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.19% for XDJE.DE.
ZPDJ.DE tracks MSCI Japan, while XDJE.DE tracks Nikkei 225 Index (EUR Hedged). They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.12% for ZPDJ.DE and 0.19% for XDJE.DE.
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