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DBAW vs. DXJ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

DBAW vs. DXJ

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and WisdomTree Japan Hedged Equity Fund (DXJ).

DBAW and DXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBAW is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI ACWI ex USA US Dollar Hedged Index. It was launched on Jan 23, 2014. DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006. Both DBAW and DXJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DBAW vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

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DBAW vs. DXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		3.56%26.47%14.35%16.26%-13.35%13.08%7.44%22.96%-10.38%18.79%
DXJ
WisdomTree Japan Hedged Equity Fund		10.00%32.78%29.83%42.04%5.96%17.99%3.94%18.94%-19.78%22.81%

Returns By Period

In the year-to-date period, DBAW achieves a 3.56% return, which is significantly lower than DXJ's 10.00% return. Over the past 10 years, DBAW has underperformed DXJ with an annualized return of 10.42%, while DXJ has yielded a comparatively higher 17.25% annualized return.

DBAW

1D
2.61%
1M
-5.70%
YTD
3.56%
6M
10.45%
1Y
25.67%
3Y*
17.45%
5Y*
9.50%
10Y*
10.42%

DXJ

1D
2.59%
1M
-6.49%
YTD
10.00%
6M
24.19%
1Y
46.21%
3Y*
34.37%
5Y*
24.33%
10Y*
17.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers MSCI All World ex US Hedged Equity ETF

WisdomTree Japan Hedged Equity Fund

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DBAW vs. HAWXDBAW vs. HFXIDBAW vs. MDIJXDBAW vs. GSIEDBAW vs. BROIXDBAW vs. VOODBAW vs. BKIE
Often compared with DXJ:
DXJ vs. EWJDXJ vs. EWJVDXJ vs. DXJSDXJ vs. FLJPDXJ vs. VOODXJ vs. DBJPDXJ vs. SCHD

DBAW vs. DXJ - Expense Ratio Comparison

DBAW has a 0.41% expense ratio, which is lower than DXJ's 0.48% expense ratio.

DXJ
WisdomTree Japan Hedged Equity Fund
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF

Return for Risk

DBAW vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBAW
DBAW Risk / Return Rank: 8484
Overall Rank
DBAW Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8383
Sortino Ratio Rank
DBAW Omega Ratio Rank: 8888
Omega Ratio Rank
DBAW Calmar Ratio Rank: 7979
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8484
Martin Ratio Rank
DXJ
DXJ Risk / Return Rank: 9393
Overall Rank
DXJ Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9292
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9393
Omega Ratio Rank
DXJ Calmar Ratio Rank: 9393
Calmar Ratio Rank
DXJ Martin Ratio Rank: 9494
Martin Ratio Rank
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.

DBAW vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) 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.

DBAWDXJDifference

Sharpe ratio

Return per unit of total volatility

1.61

2.04

-0.43

Sortino ratio

Return per unit of downside risk

2.17

2.67

-0.50

Omega ratio

Gain probability vs. loss probability

1.36

1.41

-0.05

Calmar ratio

Return relative to maximum drawdown

2.13

3.46

-1.33

Martin ratio

Return relative to average drawdown

9.46

13.69

-4.23

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBAW vs. DXJ - Sharpe Ratio Comparison

The current DBAW Sharpe Ratio is 1.61, which is comparable to the DXJ Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of DBAW and DXJ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

DBAWDXJDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.61

2.04

-0.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

1.29

-0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

0.84

-0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.41

+0.16

Correlation

The correlation between DBAW and DXJ is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DBAW vs. DXJ - Dividend Comparison

DBAW's dividend yield for the trailing twelve months is around 3.69%, more than DXJ's 1.18% yield.

TTM20252024202320222021202020192018201720162015
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		3.69%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%
DXJ
WisdomTree Japan Hedged Equity Fund		1.18%1.29%3.48%3.44%3.02%2.64%2.53%2.47%2.92%2.30%1.98%5.95%

Drawdowns

DBAW vs. DXJ - Drawdown Comparison

The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for DBAW and DXJ.

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Drawdown Indicators

DBAWDXJDifference

Max Drawdown

Largest peak-to-trough decline

-31.44%

-49.63%

+18.19%

Max Drawdown (1Y)

Largest decline over 1 year

-11.78%

-12.65%

+0.87%

Max Drawdown (5Y)

Largest decline over 5 years

-17.87%

-22.19%

+4.32%

Max Drawdown (10Y)

Largest decline over 10 years

-31.44%

-39.14%

+7.70%

Current Drawdown

Current decline from peak

-6.12%

-6.79%

+0.67%

Average Drawdown

Average peak-to-trough decline

-5.05%

-14.44%

+9.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.65%

3.31%

-0.66%

Volatility

DBAW vs. DXJ - Volatility Comparison

The current volatility for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) is 6.84%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 7.80%. This indicates that DBAW 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

DBAWDXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.84%

7.80%

-0.96%

Volatility (6M)

Calculated over the trailing 6-month period

9.97%

13.70%

-3.73%

Volatility (1Y)

Calculated over the trailing 1-year period

16.03%

22.77%

-6.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.49%

18.91%

-5.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.23%

20.50%

-5.27%