DBJP vs. TRSY

Last updated Jun 4, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and TRSY (Xtrackers US 0-1 Year Treasury ETF) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while TRSY is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past year, DBJP returned 52.66% vs 4.00% for TRSY. At a correlation of -0.02, they often move in opposite directions. DBJP charges 0.45%/yr vs 0.06%/yr for TRSY.

Performance

DBJP vs. TRSY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Xtrackers US 0-1 Year Treasury ETF (TRSY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBJP achieves a 20.51% return, which is significantly higher than TRSY's 1.50% 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%

TRSY

• 1D: 0.07%
• 1M: 0.32%
• YTD: 1.50%
• 6M: 1.80%
• 1Y: 4.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBJP vs. TRSY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DBJP Xtrackers MSCI Japan Hedged Equity ETF	20.51%	29.51%	2.69%
TRSY Xtrackers US 0-1 Year Treasury ETF	1.50%	4.22%	1.07%

Correlation

The correlation between DBJP and TRSY is 0.06, 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	0.06
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024	-0.02

Return for Risk

DBJP vs. TRSY — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 86
DBJP Sharpe Ratio Rank: 85
DBJP Sortino Ratio Rank: 85
DBJP Omega Ratio Rank: 83
DBJP Calmar Ratio Rank: 88
DBJP Martin Ratio Rank: 88

TRSY

TRSY Risk / Return Rank: 100
TRSY Sharpe Ratio Rank: 99
TRSY Sortino Ratio Rank: 100
TRSY Omega Ratio Rank: 100
TRSY Calmar Ratio Rank: 100
TRSY Martin Ratio Rank: 100

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. TRSY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and Xtrackers US 0-1 Year Treasury ETF (TRSY). 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	TRSY	Difference
Sharpe ratio: Return per unit of total volatility	2.83	10.56	-7.73
Sortino ratio: Return per unit of downside risk	3.89	28.65	-24.76
Omega ratio: Gain probability vs. loss probability	1.51	6.84	-5.34
Calmar ratio: Return relative to maximum drawdown	5.09	60.65	-55.56
Martin ratio: Return relative to average drawdown	19.86	385.94	-366.09
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. TRSY - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.83, which is lower than the TRSY Sharpe Ratio of 10.56. The chart below compares the historical Sharpe Ratios of DBJP and TRSY, 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	TRSY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	10.56	-7.73
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	3.91	-3.23

Drawdowns

DBJP vs. TRSY - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, which is greater than TRSY's maximum drawdown of -0.82%. Use the drawdown chart below to compare losses from any high point for DBJP and TRSY.

Drawdown Indicators

	DBJP	TRSY	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-0.82%	-30.48%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-0.07%	-10.32%
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 Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.29%	-0.06%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	0.01%	+2.65%

Volatility

DBJP vs. TRSY - Volatility Comparison

Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 3.85% compared to Xtrackers US 0-1 Year Treasury ETF (TRSY) at 0.11%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than TRSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	TRSY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	0.11%	+3.74%
Volatility (6M) Calculated over the trailing 6-month period	13.79%	0.24%	+13.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.69%	0.38%	+18.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	1.07%	+17.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.46%	1.07%	+18.39%

DBJP vs. TRSY - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is higher than TRSY's 0.06% expense ratio.

Dividends

DBJP vs. TRSY - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 2.34%, less than TRSY's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TRSY Xtrackers US 0-1 Year Treasury ETF	3.72%	4.00%	0.96%	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 TRSY in my portfolio?

DBJP and TRSY have a correlation of 0.06, 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 TRSY?

DBJP has higher volatility (3.85%) compared to TRSY (0.11%). In terms of maximum drawdown, DBJP dropped -31.30% vs TRSY's -0.82%.

Which ETF is better, DBJP or TRSY?

On 1-year performance, DBJP leads with 52.66% vs 4.00% for TRSY. On fees, TRSY is cheaper at 0.06% per year. On volatility, TRSY has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBJP or TRSY?

Over the 1-year period, DBJP has performed better with a 52.66% return vs 4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBJP or TRSY?

TRSY is cheaper with a 0.06% expense ratio, compared with 0.45% for DBJP.

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

TRSY has the higher dividend yield at 3.72%, compared with 2.34% for DBJP.

What is the main difference between DBJP and TRSY?

DBJP is categorized as Japan Equities, while TRSY is Government Bonds. DBJP tracks MSCI Japan US Dollar Hedged Index, while TRSY tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.45% for DBJP and 0.06% for TRSY.

Which has better risk-adjusted returns?

TRSY currently has the higher Sharpe Ratio (10.56 vs 2.83), 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.