DBJP vs. CA
DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and CA (Xtrackers California Municipal Bond ETF) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while CA is a Municipal Bonds fund tracking the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Both are passively managed. Over the past year, DBJP returned 52.66% vs 6.67% for CA. At a correlation of -0.02, they often move in opposite directions. DBJP charges 0.45%/yr vs 0.07%/yr for CA.
Performance
DBJP vs. CA - Performance Comparison
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Returns By Period
In the year-to-date period, DBJP achieves a 20.51% return, which is significantly higher than CA's 1.20% return.
DBJP
- 1D
- 0.81%
- 1M
- 8.88%
- YTD
- 20.51%
- 6M
- 24.02%
- 1Y
- 52.66%
- 3Y*
- 29.04%
- 5Y*
- 21.44%
- 10Y*
- 16.54%
CA
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 1.20%
- 6M
- 1.44%
- 1Y
- 6.67%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBJP vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DBJP Xtrackers MSCI Japan Hedged Equity ETF | 20.51% | 29.51% | 25.53% | 1.87% |
CA Xtrackers California Municipal Bond ETF | 1.20% | 3.05% | 1.51% | 0.79% |
Correlation
The correlation between DBJP and CA is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023 | -0.02 |
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Return for Risk
DBJP vs. CA — Risk / Return Rank
DBJP
CA
DBJP vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Xtrackers California Municipal Bond ETF (CA). 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.
| DBJP | CA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.58 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.09 | 2.61 | +2.48 |
| Martin ratioReturn relative to average drawdown | 19.86 | 9.84 | +10.02 |
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
| DBJP | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.83 | 2.54 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.14 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.67 | +0.01 |
Drawdowns
DBJP vs. CA - Drawdown Comparison
The maximum DBJP drawdown since its inception was -31.30%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for DBJP and CA.
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Drawdown Indicators
| DBJP | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.30% | -5.24% | -26.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.39% | -2.57% | -7.82% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.30% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.75% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -1.27% | -6.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 0.68% | +1.98% |
Volatility
DBJP vs. CA - Volatility Comparison
Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 3.85% compared to Xtrackers California Municipal Bond ETF (CA) at 0.31%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than CA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBJP | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 0.31% | +3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 1.83% | +11.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.69% | 2.64% | +16.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 3.99% | +14.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.46% | 3.99% | +15.47% |
DBJP vs. CA - Expense Ratio Comparison
DBJP has a 0.45% expense ratio, which is higher than CA's 0.07% expense ratio.
Dividends
DBJP vs. CA - Dividend Comparison
DBJP's dividend yield for the trailing twelve months is around 2.34%, less than CA's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CA Xtrackers California Municipal Bond ETF | 2.96% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBJP Xtrackers MSCI Japan Hedged Equity ETF | 2.34% | 2.81% | 2.80% | 5.21% | 0.80% | 2.30% | 2.53% | 2.56% | 3.87% | 2.07% | 1.13% | 5.95% |
Frequently Asked Questions
DBJP and CA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBJP has higher volatility (3.85%) compared to CA (0.31%). In terms of maximum drawdown, DBJP dropped -31.30% vs CA's -5.24%.
On 1-year performance, DBJP leads with 52.66% vs 6.67% for CA. On fees, CA is cheaper at 0.07% per year. On volatility, CA has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBJP has performed better with a 52.66% return vs 6.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CA is cheaper with a 0.07% expense ratio, compared with 0.45% for DBJP.
CA has the higher dividend yield at 2.96%, compared with 2.34% for DBJP.
DBJP is categorized as Japan Equities, while CA is Municipal Bonds. DBJP tracks MSCI Japan US Dollar Hedged Index, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. Their fees differ too: 0.45% for DBJP and 0.07% for CA.
DBJP currently has the higher Sharpe Ratio (2.83 vs 2.54), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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