DBJP vs. HYUP

Last updated Jun 24, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and HYUP (Xtrackers High Beta High Yield Bond ETF) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while HYUP is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market High Beta Index. Both are passively managed. Over the past 5 years, DBJP returned 21.61%/yr vs 4.29%/yr for HYUP. At a 0.45 correlation, their price movements are largely independent. DBJP charges 0.45%/yr vs 0.20%/yr for HYUP.

Performance

DBJP vs. HYUP - Performance Comparison

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

Returns By Period

In the year-to-date period, DBJP achieves a 21.03% return, which is significantly higher than HYUP's 1.83% return.

DBJP

• 1D: -4.33%
• 1M: 3.46%
• YTD: 21.03%
• 6M: 21.10%
• 1Y: 53.92%
• 3Y*: 28.45%
• 5Y*: 21.61%
• 10Y*: 17.47%

HYUP

• 1D: -0.07%
• 1M: 0.42%
• YTD: 1.83%
• 6M: 2.23%
• 1Y: 6.49%
• 3Y*: 10.30%
• 5Y*: 4.29%
• 10Y*: —

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

DBJP vs. HYUP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DBJP Xtrackers MSCI Japan Hedged Equity ETF	21.03%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-17.84%
HYUP Xtrackers High Beta High Yield Bond ETF	1.83%	8.83%	10.30%	14.56%	-13.30%	5.13%	5.73%	16.54%	-3.90%

Correlation

The correlation between DBJP and HYUP is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.45

Return for Risk

DBJP vs. HYUP — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 88
DBJP Sharpe Ratio Rank: 88
DBJP Sortino Ratio Rank: 85
DBJP Omega Ratio Rank: 85
DBJP Calmar Ratio Rank: 90
DBJP Martin Ratio Rank: 91

HYUP

HYUP Risk / Return Rank: 49
HYUP Sharpe Ratio Rank: 46
HYUP Sortino Ratio Rank: 50
HYUP Omega Ratio Rank: 49
HYUP Calmar Ratio Rank: 45
HYUP Martin Ratio Rank: 55

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. HYUP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Xtrackers High Beta High Yield Bond ETF (HYUP). 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	HYUP	Difference
Sharpe ratio: Return per unit of total volatility	2.72	1.53	+1.20
Sortino ratio: Return per unit of downside risk	3.58	2.31	+1.27
Omega ratio: Gain probability vs. loss probability	1.49	1.29	+0.19
Calmar ratio: Return relative to maximum drawdown	5.22	2.14	+3.08
Martin ratio: Return relative to average drawdown	19.97	9.08	+10.88

DBJP vs. HYUP - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.72, which is higher than the HYUP Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of DBJP and HYUP, 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. HYUP - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, which is greater than HYUP's maximum drawdown of -24.79%. Use the drawdown chart below to compare losses from any high point for DBJP and HYUP.

Drawdown Indicators

	DBJP	HYUP	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-24.79%	-6.51%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-3.05%	-7.34%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-6.03%	-15.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-18.06%	-3.44%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	—	—
Current Drawdown Current decline from peak	-4.33%	-0.38%	-3.95%
Average Drawdown Average peak-to-trough decline	-7.27%	-3.40%	-3.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	0.72%	+1.99%

Volatility

DBJP vs. HYUP - Volatility Comparison

Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 7.92% compared to Xtrackers High Beta High Yield Bond ETF (HYUP) at 1.13%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than HYUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	HYUP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	1.13%	+6.79%
Volatility (6M) Calculated over the trailing 6-month period	15.56%	3.42%	+12.14%
Volatility (1Y) Calculated over the trailing 1-year period	19.90%	4.28%	+15.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.18%	8.29%	+10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.31%	9.73%	+9.58%

DBJP vs. HYUP - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is higher than HYUP's 0.20% expense ratio.

Dividends

DBJP vs. HYUP - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 1.25%, less than HYUP's 7.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	1.25%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
HYUP Xtrackers High Beta High Yield Bond ETF	7.32%	7.44%	7.78%	7.48%	7.15%	6.19%	6.89%	6.77%	6.98%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBJP and HYUP in my portfolio?

DBJP and HYUP have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBJP or HYUP?

DBJP has higher volatility (7.92%) compared to HYUP (1.13%). In terms of maximum drawdown, DBJP dropped -31.30% vs HYUP's -24.79%.

Which ETF is better, DBJP or HYUP?

On 5-year performance, DBJP leads with 21.61% vs 4.29% for HYUP. On fees, HYUP is cheaper at 0.20% per year. On volatility, HYUP has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBJP or HYUP?

Over the 5-year period, DBJP has performed better with a 21.61% return vs 4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBJP or HYUP?

HYUP is cheaper with a 0.20% expense ratio, compared with 0.45% for DBJP.

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

HYUP has the higher dividend yield at 7.32%, compared with 1.25% for DBJP.

What is the main difference between DBJP and HYUP?

DBJP is categorized as Japan Equities, while HYUP is High Yield Bonds. DBJP tracks MSCI Japan US Dollar Hedged Index, while HYUP tracks Solactive USD High Yield Corporates Total Market High Beta Index. They also come from different issuers: Xtrackers and Deutsche Bank. Their fees differ too: 0.45% for DBJP and 0.20% for HYUP.

Which has better risk-adjusted returns?

DBJP currently has the higher Sharpe Ratio (2.72 vs 1.53), 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.