CSJP.L vs. DXJA.L

Last updated Jun 5, 2026

CSJP.L (iShares MSCI Japan UCITS ETF USD (Acc)) and DXJA.L (WisdomTree Japan Equity UCITS ETF USD Hedged Acc) are both Japan Equities funds - CSJP.L tracks the TOPIX TR JPY while DXJA.L tracks the WisdomTree Japan Hedged Equity UCITS Index. Both are passively managed. Over the past 5 years, CSJP.L returned 10.06%/yr vs 27.42%/yr for DXJA.L. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.48% expense ratio.

Performance

CSJP.L vs. DXJA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) and WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CSJP.L is traded in GBp, while DXJA.L is traded in USD. To make them comparable, the DXJA.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CSJP.L achieves a 16.41% return, which is significantly lower than DXJA.L's 20.87% return.

CSJP.L

• 1D: -0.24%
• 1M: 6.26%
• YTD: 16.41%
• 6M: 15.60%
• 1Y: 34.17%
• 3Y*: 15.57%
• 5Y*: 10.06%
• 10Y*: 10.09%

DXJA.L

• 1D: 0.47%
• 1M: 7.11%
• YTD: 20.87%
• 6M: 23.19%
• 1Y: 57.93%
• 3Y*: 30.27%
• 5Y*: 27.42%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CSJP.L vs. DXJA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSJP.L iShares MSCI Japan UCITS ETF USD (Acc)	16.41%	17.48%	9.01%	13.68%	-7.33%	1.76%	12.16%	13.94%	-8.52%	5.60%
DXJA.L WisdomTree Japan Equity UCITS ETF USD Hedged Acc	20.87%	23.96%	31.18%	34.18%	17.73%	18.52%	0.41%	14.91%	-14.34%	10.49%

Correlation

The correlation between CSJP.L and DXJA.L is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Aug 16, 2017	0.57

Over the past year, CSJP.L and DXJA.L have become more correlated (0.80) than their long-term average of 0.57, meaning their price movements have been converging.

CSJP.L vs. DXJA.L - Sectors Allocation Comparison

Sectors	CSJP.L	DXJA.L
Industrials	24.5%	28.3%
Technology	20.8%	12.8%
Financial Services	17.8%	19.4%
Consumer Cyclical	11.9%	16.4%
Communication Services	8.8%	4.0%
Healthcare	5.9%	7.1%
Consumer Defensive	3.5%	2.6%
Basic Materials	3.0%	7.5%
Real Estate	1.9%	-
Utilities	1.0%	-
Energy	1.0%	2.0%

Return for Risk

CSJP.L vs. DXJA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSJP.L

CSJP.L Risk / Return Rank: 59
CSJP.L Sharpe Ratio Rank: 55
CSJP.L Sortino Ratio Rank: 57
CSJP.L Omega Ratio Rank: 59
CSJP.L Calmar Ratio Rank: 66
CSJP.L Martin Ratio Rank: 59

DXJA.L

DXJA.L Risk / Return Rank: 88
DXJA.L Sharpe Ratio Rank: 88
DXJA.L Sortino Ratio Rank: 87
DXJA.L Omega Ratio Rank: 87
DXJA.L Calmar Ratio Rank: 90
DXJA.L Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CSJP.L vs. DXJA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) and WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L). 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.

	CSJP.L	DXJA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.92	-1.07
Sortino ratio: Return per unit of downside risk	2.66	3.78	-1.12
Omega ratio: Gain probability vs. loss probability	1.35	1.52	-0.17
Calmar ratio: Return relative to maximum drawdown	3.24	6.29	-3.05
Martin ratio: Return relative to average drawdown	10.33	20.53	-10.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CSJP.L vs. DXJA.L - Sharpe Ratio Comparison

The current CSJP.L Sharpe Ratio is 1.85, which is lower than the DXJA.L Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of CSJP.L and DXJA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CSJP.L	DXJA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.92	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	1.54	-0.90
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	1.08	-0.45

Drawdowns

CSJP.L vs. DXJA.L - Drawdown Comparison

The maximum CSJP.L drawdown since its inception was -24.31%, smaller than the maximum DXJA.L drawdown of -31.71%. Use the drawdown chart below to compare losses from any high point for CSJP.L and DXJA.L.

Drawdown Indicators

	CSJP.L	DXJA.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.31%	-31.71%	+7.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-9.17%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-22.57%	+8.25%
Max Drawdown (5Y) Largest decline over 5 years	-18.68%	-22.57%	+3.89%
Max Drawdown (10Y) Largest decline over 10 years	-24.31%	—	—
Current Drawdown Current decline from peak	-0.24%	0.00%	-0.24%
Average Drawdown Average peak-to-trough decline	-6.10%	-5.12%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	2.81%	+0.49%

Volatility

CSJP.L vs. DXJA.L - Volatility Comparison

The current volatility for iShares MSCI Japan UCITS ETF USD (Acc) (CSJP.L) is 3.77%, while WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L) has a volatility of 4.42%. This indicates that CSJP.L experiences smaller price fluctuations and is considered to be less risky than DXJA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSJP.L	DXJA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	4.42%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	14.90%	15.62%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	18.35%	19.75%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	21.46%	-5.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	23.88%	-7.92%

CSJP.L vs. DXJA.L - Expense Ratio Comparison

Both CSJP.L and DXJA.L have an expense ratio of 0.48%.

Dividends

CSJP.L vs. DXJA.L - Dividend Comparison

Neither CSJP.L nor DXJA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CSJP.L and DXJA.L in my portfolio?

CSJP.L and DXJA.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSJP.L or DXJA.L?

Both ETFs have the same 0.48% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CSJP.L or DXJA.L?

CSJP.L and DXJA.L have the same expense ratio: 0.48% per year.

What is the main difference between CSJP.L and DXJA.L?

CSJP.L tracks TOPIX TR JPY, while DXJA.L tracks WisdomTree Japan Hedged Equity UCITS Index. They also come from different issuers: iShares and WisdomTree.