CJP.NEO vs. DXJ
CJP.NEO (iShares Japan Fundamental Index ETF (CAD-Hedged)) and DXJ (WisdomTree Japan Hedged Equity Fund) are both Japan Equities funds - CJP.NEO tracks the FTSE RAFI Japan Canadian Dollar Hedged Index while DXJ tracks the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, CJP.NEO returned 16.15%/yr vs 19.19%/yr for DXJ. A 0.69 correlation means they provide meaningful diversification when combined. CJP.NEO charges 0.71%/yr vs 0.48%/yr for DXJ.
Performance
CJP.NEO vs. DXJ - Performance Comparison
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Different Trading Currencies
CJP.NEO is traded in CAD, while DXJ is traded in USD. To make them comparable, the DXJ values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CJP.NEO achieves a 19.29% return, which is significantly lower than DXJ's 21.16% return. Over the past 10 years, CJP.NEO has underperformed DXJ with an annualized return of 16.15%, while DXJ has yielded a comparatively higher 19.19% annualized return.
CJP.NEO
- 1D
- 0.46%
- 1M
- 9.32%
- YTD
- 19.29%
- 6M
- 23.23%
- 1Y
- 51.21%
- 3Y*
- 30.24%
- 5Y*
- 22.91%
- 10Y*
- 16.15%
DXJ
- 1D
- 1.16%
- 1M
- 9.39%
- YTD
- 21.16%
- 6M
- 23.88%
- 1Y
- 55.91%
- 3Y*
- 34.70%
- 5Y*
- 29.74%
- 10Y*
- 19.19%
CJP.NEO vs. DXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 19.29% | 30.67% | 26.74% | 35.03% | 3.67% | 18.19% | 0.18% | 13.12% | -17.35% | 21.33% |
DXJ WisdomTree Japan Hedged Equity Fund | 21.16% | 26.69% | 40.98% | 38.91% | 13.51% | 16.92% | 2.18% | 13.10% | -12.98% | 14.99% |
Correlation
The correlation between CJP.NEO and DXJ is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009 | 0.69 |
The correlation between CJP.NEO and DXJ shifts across timeframes, from 0.69 (all time) to 0.84 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CJP.NEO vs. DXJ — Risk / Return Rank
CJP.NEO
DXJ
CJP.NEO vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.
| CJP.NEO | DXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.57 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 5.26 | -0.58 |
| Martin ratioReturn relative to average drawdown | 17.78 | 20.20 | -2.42 |
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
| CJP.NEO | DXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.89 | 3.16 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 1.64 | -0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 1.00 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.71 | -0.26 |
Drawdowns
CJP.NEO vs. DXJ - Drawdown Comparison
The maximum CJP.NEO drawdown since its inception was -38.36%, which is greater than DXJ's maximum drawdown of -31.62%. Use the drawdown chart below to compare losses from any high point for CJP.NEO and DXJ.
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Drawdown Indicators
| CJP.NEO | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.36% | -31.62% | -6.74% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -10.68% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -21.02% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | -21.02% | +0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -37.75% | -31.41% | -6.34% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -11.17% | -8.44% | -2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.78% | +0.12% |
Volatility
CJP.NEO vs. DXJ - Volatility Comparison
The current volatility for iShares Japan Fundamental Index ETF (CAD-Hedged) (CJP.NEO) is 3.09%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 3.65%. This indicates that CJP.NEO experiences smaller price fluctuations and is considered to be less risky than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CJP.NEO | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 3.65% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 13.43% | -0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 17.80% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.27% | 18.26% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 19.33% | +0.28% |
CJP.NEO vs. DXJ - Expense Ratio Comparison
CJP.NEO has a 0.71% expense ratio, which is higher than DXJ's 0.48% expense ratio.
Dividends
CJP.NEO vs. DXJ - Dividend Comparison
CJP.NEO's dividend yield for the trailing twelve months is around 1.24%, more than DXJ's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CJP.NEO iShares Japan Fundamental Index ETF (CAD-Hedged) | 1.24% | 1.48% | 1.71% | 1.24% | 1.96% | 1.56% | 1.97% | 2.42% | 2.38% | 1.48% | 0.97% | 0.84% |
DXJ WisdomTree Japan Hedged Equity Fund | 1.08% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
Frequently Asked Questions
CJP.NEO and DXJ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DXJ is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DXJ is cheaper with a 0.48% expense ratio, compared with 0.71% for CJP.NEO.
CJP.NEO tracks FTSE RAFI Japan Canadian Dollar Hedged Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.71% for CJP.NEO and 0.48% for DXJ.
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