# Invesco JPX-Nikkei 400 UCITS ETF (S400) **Page:** https://fundology.uk/fund/s400 · ISIN IE00BPRCH686 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, S400 (Invesco JPX-Nikkei 400 UCITS ETF, ISIN IE00BPRCH686) closed at £213.65 on the London Stock Exchange. Its ongoing charge is 0.19% a year (about £19 on £10,000). Over the five years to 13/11/2026 its total return was +55.5%, or +21.4% after UK CPIH inflation. ## Summary Invesco JPX-Nikkei 400 UCITS ETF is an exchange-traded fund (ETF) from Invesco, launched in 2014. It tracks the JPX-Nikkei Index 400. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **£213.65** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | S400 | | ISIN | IE00BPRCH686 | | Also listed as | N400 (London Stock Exchange, US dollars), SMLN (Xetra, euros) | | Category | Japan & Asia Pacific | | Type | ETF | | Provider | Invesco | | Tracks | JPX-Nikkei Index 400 | | Income | Accumulating | | Ongoing charge | 0.19% a year (£19 per £10,000) | | Fund size | £136m | | Launched | 2014 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 10/09/2014 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +15.48% | +11.39% | income reinvested | | 3 years | +56.72% | +41.59% | income reinvested | | 5 years | +55.50% | +21.38% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco JPX-Nikkei 400 UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −5.8%, 2023 +13.7%, 2024 +9.3%, 2025 +16.7%; 2026 to 13/11/2026 +17.4%. Returns of Invesco JPX-Nikkei 400 UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +25.7%; to 30/09/2025: +14.9%; to 30/09/2024: +11.7%; to 30/09/2023: +13.6%; to 30/09/2022: −11.2%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -5.8% | -13.8% | Price | | 2023 | +13.7% | +9.1% | Price | | 2024 | +9.3% | +5.6% | Price | | 2025 | +16.7% | +12.7% | Price | | 2026 to 13/11/2026 | +17.4% | +13.7% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 18.82% | -10.45% | | 3 years | 16.30% | -11.78% | | 5 years | 15.42% | -16.13% | ## Largest fall Volatility of Invesco JPX-Nikkei 400 UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 18.8% over 1 year, 16.3% over 3 years, 15.4% over 5 years. Largest fall in the price of Invesco JPX-Nikkei 400 UCITS ETF since November 2021, in pounds: −15.7% from 19/11/2021 to 17/06/2022. The lowest 12-month return of Invesco JPX-Nikkei 400 UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −13.4% (12 months to 16/09/2022); the highest was +38.3% (12 months to 03/04/2026). On 13/11/2026 the price of Invesco JPX-Nikkei 400 UCITS ETF was 4.6% below its highest weekly close since November 2021 (02/10/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Invesco JPX-Nikkei 400 UCITS ETF 0.19% a year. Compared on 14/11/2026, 60 of the 108 other Japan and Asia Pacific share funds charge more, 3 the same and 45 less (share classes counted once). ## Funds tracking the same index 3 funds track JPX-Nikkei Index 400, this one included and share classes counted once; their ongoing charges range from 0.18% to 0.19% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi Index Solutions - JPX-Nikkei 400 UCITS ETF | 0.18% | +23.4% | +98.2% | +151.3% | | Invesco JPX-Nikkei 400 UCITS ETF (this fund) | 0.19% | +15.5% | +56.7% | +55.5% | | Invesco JPX-Nikkei 400 UCITS ETF USD Hedged | 0.19% | +24.1% | +85.4% | +163.0% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.19%** per year - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds As of 12/11/2026, S400 holds 401 positions, according to its published holdings. The largest is Recruit at 2.34% of the fund; the ten largest make up 17.9%. ### Top holdings Largest positions (as of 12/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Recruit | [6098](https://fundology.uk/stock/6098) | 2.34% | | 2 | Itochu | [8001](https://fundology.uk/stock/8001) | 1.92% | | 3 | Sony Group | [6758](https://fundology.uk/stock/6758) | 1.92% | | 4 | Tokio Marine | [8766](https://fundology.uk/stock/8766) | 1.82% | | 5 | Toyota Motor | [7203](https://fundology.uk/stock/7203) | 1.70% | | 6 | Mitsubishi | [8058](https://fundology.uk/stock/8058) | 1.68% | | 7 | Mitsui | [8031](https://fundology.uk/stock/8031) | 1.67% | | 8 | Hitachi | [6501](https://fundology.uk/stock/6501) | 1.64% | | 9 | Mitsubishi UFJ Financial Group | [8306](https://fundology.uk/stock/8306) | 1.61% | | 10 | Mizuho Financial Group | [8411](https://fundology.uk/stock/8411) | 1.55% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 05/11/2026. | Sector | Weight | |---|---| | Industrials | 26.9% | | Information Technology | 16.5% | | Consumer Discretionary | 15.3% | | Financials | 14.7% | | Communication Services | 6.1% | | Health Care | 5.8% | | Consumer Staples | 4.8% | | Materials | 4.6% | | Other sectors | 5.5% | The 399 holdings on record (of 401 reported): https://fundology.uk/fund/s400/holdings ## Questions people ask **What is the ongoing charge of S400?** The ongoing charge of S400 is 0.19% a year — about £19 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Invesco JPX-Nikkei 400 UCITS ETF 0.19% a year. Compared on 14/11/2026, 60 of the 108 other Japan and Asia Pacific share funds charge more, 3 the same and 45 less (share classes counted once). **What does S400 track?** S400 tracks the JPX-Nikkei Index 400. **Is S400 accumulating or distributing?** S400 is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of S400?** The ISIN of S400 is IE00BPRCH686. An ISIN identifies one exact share class of a fund; S400 is its ticker on the London Stock Exchange. The same share class is also listed as N400 (London Stock Exchange, US dollars) and SMLN (Xetra, euros). **What does S400 hold?** As of 12/11/2026, S400 holds 401 positions, according to its published holdings. The largest is Recruit at 2.34% of the fund; the ten largest make up 17.9%. Its ten largest holdings are Recruit (2.34%), Itochu (1.92%), Sony Group (1.92%), Tokio Marine (1.82%), Toyota Motor (1.70%), Mitsubishi (1.68%), Mitsui (1.67%), Hitachi (1.64%), Mitsubishi UFJ Financial Group (1.61%) and Mizuho Financial Group (1.55%). **What were S400’s returns in each of the last five years?** Calendar-year returns of S400 in pounds (price, with income reinvested in the fund): 2022 −5.8%, 2023 +13.7%, 2024 +9.3%, 2025 +16.7%; 2026 to 13/11/2026 +17.4%. Past performance is not a guide to future returns. **How has S400 done after inflation?** Over the five years to 13/11/2026 S400’s total return was +55.5%, or +21.4% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.