DBJP vs. LEML.L

Last updated Jun 6, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and LEML.L (Lyxor MSCI Emerging Markets UCITS ETF - Acc USD) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while LEML.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, DBJP returned 15.87%/yr vs 9.14%/yr for LEML.L. At a 0.42 correlation, their price movements are largely independent. DBJP charges 0.45%/yr vs 0.55%/yr for LEML.L.

Performance

DBJP vs. LEML.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, DBJP achieves a 16.67% return, which is significantly lower than LEML.L's 20.07% return. Over the past 10 years, DBJP has outperformed LEML.L with an annualized return of 15.87%, while LEML.L has yielded a comparatively lower 9.14% annualized return.

DBJP

• 1D: -3.50%
• 1M: 1.64%
• YTD: 16.67%
• 6M: 18.37%
• 1Y: 49.57%
• 3Y*: 26.98%
• 5Y*: 20.66%
• 10Y*: 15.87%

LEML.L

• 1D: -4.36%
• 1M: -2.14%
• YTD: 20.07%
• 6M: 21.92%
• 1Y: 43.96%
• 3Y*: 21.39%
• 5Y*: 6.04%
• 10Y*: 9.14%

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

DBJP vs. LEML.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBJP Xtrackers MSCI Japan Hedged Equity ETF	16.67%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-14.82%	21.24%
LEML.L Lyxor MSCI Emerging Markets UCITS ETF - Acc USD	20.07%	34.01%	6.90%	8.09%	-20.23%	-2.81%	17.05%	17.56%	-15.07%	36.46%

Correlation

The correlation between DBJP and LEML.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jun 10, 2011	0.42

The correlation between DBJP and LEML.L shifts across timeframes, from 0.38 (3 years) to 0.51 (1 year), reflecting how their relationship changes across market environments.

DBJP vs. LEML.L - Sectors Allocation Comparison

Sectors	DBJP	LEML.L
Industrials	26.0%	7.5%
Technology	19.1%	36.9%
Financial Services	17.5%	19.5%
Consumer Cyclical	12.2%	9.6%
Communication Services	7.9%	6.9%
Healthcare	6.3%	2.9%
Consumer Defensive	3.6%	3.0%
Basic Materials	3.0%	6.6%
Real Estate	2.3%	1.0%
Utilities	1.1%	2.1%
Energy	1.1%	4.1%

Return for Risk

DBJP vs. LEML.L — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 84
DBJP Sharpe Ratio Rank: 83
DBJP Sortino Ratio Rank: 82
DBJP Omega Ratio Rank: 81
DBJP Calmar Ratio Rank: 87
DBJP Martin Ratio Rank: 88

LEML.L

LEML.L Risk / Return Rank: 85
LEML.L Sharpe Ratio Rank: 88
LEML.L Sortino Ratio Rank: 84
LEML.L Omega Ratio Rank: 88
LEML.L Calmar Ratio Rank: 85
LEML.L Martin Ratio Rank: 82

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. LEML.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.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.

	DBJP	LEML.L	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.27	+0.36
Sortino ratio: Return per unit of downside risk	3.56	3.00	+0.56
Omega ratio: Gain probability vs. loss probability	1.47	1.41	+0.06
Calmar ratio: Return relative to maximum drawdown	4.79	3.33	+1.46
Martin ratio: Return relative to average drawdown	18.63	12.23	+6.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBJP vs. LEML.L - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.62, which is comparable to the LEML.L Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of DBJP and LEML.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

	DBJP	LEML.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.27	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.09	0.32	+0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.47	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.02	+0.65

Drawdowns

DBJP vs. LEML.L - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, smaller than the maximum LEML.L drawdown of -72.07%. Use the drawdown chart below to compare losses from any high point for DBJP and LEML.L.

Drawdown Indicators

	DBJP	LEML.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-72.07%	+40.77%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-13.12%	+2.73%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-16.83%	-4.67%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-37.25%	+15.75%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	-40.14%	+8.84%
Current Drawdown Current decline from peak	-3.50%	-7.05%	+3.55%
Average Drawdown Average peak-to-trough decline	-7.29%	-20.11%	+12.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.58%	-0.91%

Volatility

DBJP vs. LEML.L - Volatility Comparison

The current volatility for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) is 4.97%, while Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L) has a volatility of 8.93%. This indicates that DBJP experiences smaller price fluctuations and is considered to be less risky than LEML.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	LEML.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	8.93%	-3.96%
Volatility (6M) Calculated over the trailing 6-month period	14.27%	16.79%	-2.52%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	19.33%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	18.72%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	19.44%	+0.04%

DBJP vs. LEML.L - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is lower than LEML.L's 0.55% expense ratio.

Dividends

DBJP vs. LEML.L - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 2.41%, while LEML.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	2.41%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
LEML.L Lyxor MSCI Emerging Markets UCITS ETF - Acc USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBJP and LEML.L in my portfolio?

DBJP and LEML.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBJP or LEML.L?

On fees, DBJP is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBJP or LEML.L?

DBJP is cheaper with a 0.45% expense ratio, compared with 0.55% for LEML.L.

What is the main difference between DBJP and LEML.L?

DBJP is categorized as Japan Equities, while LEML.L is Emerging Markets Equities. DBJP tracks MSCI Japan US Dollar Hedged Index, while LEML.L tracks MSCI EM NR USD. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.45% for DBJP and 0.55% for LEML.L.