ZPDJ.DE vs. XNKY.DE
ZPDJ.DE (SPDR MSCI Japan UCITS ETF) and XNKY.DE (Xtrackers Nikkei 225 UCITS ETF) are both Japan Equities funds - ZPDJ.DE tracks the MSCI Japan while XNKY.DE tracks the Nikkei 225®. Both are passively managed. Over the past 5 years, ZPDJ.DE returned 10.06%/yr vs 12.43%/yr for XNKY.DE. Their correlation of 0.91 suggests significant overlap in exposure. ZPDJ.DE charges 0.12%/yr vs 0.09%/yr for XNKY.DE.
Performance
ZPDJ.DE vs. XNKY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPDJ.DE achieves a 16.79% return, which is significantly lower than XNKY.DE's 32.35% return.
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%
XNKY.DE
- 1D
- -1.43%
- 1M
- 10.63%
- YTD
- 32.35%
- 6M
- 30.33%
- 1Y
- 59.90%
- 3Y*
- 20.83%
- 5Y*
- 12.43%
- 10Y*
- —
ZPDJ.DE vs. XNKY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZPDJ.DE SPDR MSCI Japan UCITS ETF | 16.79% | 12.60% | 13.75% | 16.51% | -12.51% | 9.97% | 9.30% |
XNKY.DE Xtrackers Nikkei 225 UCITS ETF | 32.35% | 16.16% | 14.34% | 18.03% | -15.35% | 3.16% | 13.56% |
Correlation
The correlation between ZPDJ.DE and XNKY.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 3, 2020 | 0.91 |
The correlation between ZPDJ.DE and XNKY.DE has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
ZPDJ.DE vs. XNKY.DE — Risk / Return Rank
ZPDJ.DE
XNKY.DE
ZPDJ.DE vs. XNKY.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 (XNKY.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 | XNKY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.42 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 4.59 | -1.53 |
| Martin ratioReturn relative to average drawdown | 9.86 | 13.91 | -4.05 |
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 | XNKY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 2.53 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.66 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.74 | -0.30 |
Drawdowns
ZPDJ.DE vs. XNKY.DE - Drawdown Comparison
The maximum ZPDJ.DE drawdown since its inception was -28.06%, which is greater than XNKY.DE's maximum drawdown of -21.47%. Use the drawdown chart below to compare losses from any high point for ZPDJ.DE and XNKY.DE.
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Drawdown Indicators
| ZPDJ.DE | XNKY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.06% | -21.47% | -6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -12.99% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.90% | -20.16% | +3.26% |
Max Drawdown (5Y)Largest decline over 5 years | -19.10% | -21.15% | +2.05% |
Max Drawdown (10Y)Largest decline over 10 years | -28.06% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -1.43% | +0.98% |
Average DrawdownAverage peak-to-trough decline | -5.93% | -7.84% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 4.29% | -1.19% |
Volatility
ZPDJ.DE vs. XNKY.DE - Volatility Comparison
The current volatility for SPDR MSCI Japan UCITS ETF (ZPDJ.DE) is 3.60%, while Xtrackers Nikkei 225 UCITS ETF (XNKY.DE) has a volatility of 6.59%. This indicates that ZPDJ.DE experiences smaller price fluctuations and is considered to be less risky than XNKY.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 | XNKY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 6.59% | -2.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.86% | 18.61% | -3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 23.59% | -4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 18.57% | -2.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 18.42% | -2.02% |
ZPDJ.DE vs. XNKY.DE - Expense Ratio Comparison
ZPDJ.DE has a 0.12% expense ratio, which is higher than XNKY.DE's 0.09% expense ratio. However, 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. XNKY.DE - Dividend Comparison
Neither ZPDJ.DE nor XNKY.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPDJ.DE and XNKY.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XNKY.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XNKY.DE is cheaper with a 0.09% expense ratio, compared with 0.12% for ZPDJ.DE.
ZPDJ.DE tracks MSCI Japan, while XNKY.DE tracks Nikkei 225®. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.12% for ZPDJ.DE and 0.09% for XNKY.DE.
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