DBJP vs. DXJ

Last updated Jun 23, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both Japan Equities funds - DBJP tracks the MSCI Japan US Dollar Hedged Index while DXJ tracks the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, DBJP returned 17.99%/yr vs 19.68%/yr for DXJ. Their correlation of 0.92 suggests significant overlap in exposure. DBJP charges 0.45%/yr vs 0.48%/yr for DXJ.

Performance

DBJP vs. DXJ - Performance Comparison

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

Returns By Period

In the year-to-date period, DBJP achieves a 26.50% return, which is significantly higher than DXJ's 24.69% return. Over the past 10 years, DBJP has underperformed DXJ with an annualized return of 17.99%, while DXJ has yielded a comparatively higher 19.68% annualized return.

DBJP

• 1D: 0.88%
• 1M: 8.14%
• YTD: 26.50%
• 6M: 26.96%
• 1Y: 61.50%
• 3Y*: 30.36%
• 5Y*: 22.89%
• 10Y*: 17.99%

DXJ

• 1D: 0.69%
• 1M: 5.99%
• YTD: 24.69%
• 6M: 25.08%
• 1Y: 62.02%
• 3Y*: 33.27%
• 5Y*: 27.62%
• 10Y*: 19.68%

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

DBJP vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBJP Xtrackers MSCI Japan Hedged Equity ETF	26.50%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-14.82%	21.24%
DXJ WisdomTree Japan Hedged Equity Fund	24.69%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Correlation

The correlation between DBJP and DXJ is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 9, 2011	0.92

The correlation between DBJP and DXJ has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

DBJP vs. DXJ - Sectors Allocation Comparison

Sectors	DBJP	DXJ
Industrials	24.5%	27.4%
Technology	21.7%	12.9%
Financial Services	17.0%	18.3%
Consumer Cyclical	11.9%	15.6%
Communication Services	8.9%	2.7%
Healthcare	5.6%	6.8%
Basic Materials	3.4%	8.5%
Consumer Defensive	3.3%	4.7%
Real Estate	1.9%	-
Utilities	1.0%	0.1%
Energy	0.9%	1.7%

Return for Risk

DBJP vs. DXJ — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 92
DBJP Sharpe Ratio Rank: 93
DBJP Sortino Ratio Rank: 92
DBJP Omega Ratio Rank: 91
DBJP Calmar Ratio Rank: 92
DBJP Martin Ratio Rank: 93

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 95
DXJ Sortino Ratio Rank: 94
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 92
DXJ Martin Ratio Rank: 92

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.

DBJP vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DBJP	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	3.19	3.51	-0.32
Sortino ratio: Return per unit of downside risk	4.21	4.58	-0.37
Omega ratio: Gain probability vs. loss probability	1.56	1.63	-0.06
Calmar ratio: Return relative to maximum drawdown	5.95	5.68	+0.27
Martin ratio: Return relative to average drawdown	22.89	22.03	+0.87

DBJP vs. DXJ - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 3.19, which is comparable to the DXJ Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of DBJP and DXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBJP vs. DXJ - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for DBJP and DXJ.

Drawdown Indicators

	DBJP	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-49.63%	+18.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-10.98%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-22.19%	+0.69%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-22.19%	+0.69%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	-39.14%	+7.84%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.27%	-14.31%	+7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	2.82%	-0.13%

Volatility

DBJP vs. DXJ - Volatility Comparison

Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 6.27% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.92%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	4.92%	+1.35%
Volatility (6M) Calculated over the trailing 6-month period	14.86%	13.55%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	17.78%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	19.01%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	20.12%	-0.68%

DBJP vs. DXJ - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is lower than DXJ's 0.48% expense ratio.

Dividends

DBJP vs. DXJ - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 1.20%, more than DXJ's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	1.20%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
DXJ WisdomTree Japan Hedged Equity Fund	1.04%	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

Can I hold both DBJP and DXJ in my portfolio?

With a correlation of 0.93, DBJP and DXJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DBJP or DXJ?

DBJP has higher volatility (6.27%) compared to DXJ (4.92%). In terms of maximum drawdown, DBJP dropped -31.30% vs DXJ's -49.63%.

Which ETF is better, DBJP or DXJ?

On 10-year performance, DXJ leads with 19.68% vs 17.99% for DBJP. On fees, DBJP is cheaper at 0.45% per year. On volatility, DXJ has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBJP or DXJ?

Over the 10-year period, DXJ has performed better with a 19.68% return vs 17.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBJP or DXJ?

DBJP is cheaper with a 0.45% expense ratio, compared with 0.48% for DXJ.

Which ETF pays a higher dividend yield, DBJP or DXJ?

DBJP has the higher dividend yield at 1.20%, compared with 1.04% for DXJ.

What is the main difference between DBJP and DXJ?

DBJP tracks MSCI Japan US Dollar Hedged Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.45% for DBJP and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.51 vs 3.19), 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.