DBJP vs. UC15.L

Last updated Jun 6, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and UC15.L (UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while UC15.L is a Commodities fund tracking the UBS CMCI. Both are passively managed. Over the past 10 years, DBJP returned 15.87%/yr vs 8.88%/yr for UC15.L. At a 0.17 correlation, their price movements are largely independent. DBJP charges 0.45%/yr vs 0.34%/yr for UC15.L.

Performance

DBJP vs. UC15.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DBJP is traded in USD, while UC15.L is traded in GBp. To make them comparable, the UC15.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 UC15.L's 21.20% return. Over the past 10 years, DBJP has outperformed UC15.L with an annualized return of 15.87%, while UC15.L has yielded a comparatively lower 8.88% 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%

UC15.L

• 1D: -1.26%
• 1M: -0.42%
• YTD: 21.20%
• 6M: 21.79%
• 1Y: 29.95%
• 3Y*: 13.16%
• 5Y*: 11.58%
• 10Y*: 8.88%

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

DBJP vs. UC15.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%
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc	21.20%	10.31%	4.66%	-1.58%	16.07%	34.87%	0.50%	9.54%	-10.61%	6.45%

Correlation

The correlation between DBJP and UC15.L is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 25, 2013	0.17

The correlation between DBJP and UC15.L shifts across timeframes, from -0.04 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

DBJP vs. UC15.L - Sectors Allocation Comparison

Sectors	DBJP	UC15.L
Industrials	26.0%	6.6%
Technology	19.1%	31.0%
Financial Services	17.5%	10.9%
Consumer Cyclical	12.2%	7.3%
Communication Services	7.9%	15.0%
Healthcare	6.3%	9.8%
Consumer Defensive	3.6%	3.7%
Basic Materials	3.0%	0.5%
Real Estate	2.3%	-
Utilities	1.1%	1.1%
Energy	1.1%	14.2%

Return for Risk

DBJP vs. UC15.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

UC15.L

UC15.L Risk / Return Rank: 71
UC15.L Sharpe Ratio Rank: 65
UC15.L Sortino Ratio Rank: 60
UC15.L Omega Ratio Rank: 65
UC15.L Calmar Ratio Rank: 89
UC15.L Martin Ratio Rank: 75

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. UC15.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.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	UC15.L	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.17	+0.45
Sortino ratio: Return per unit of downside risk	3.56	2.86	+0.70
Omega ratio: Gain probability vs. loss probability	1.47	1.40	+0.07
Calmar ratio: Return relative to maximum drawdown	4.79	6.36	-1.57
Martin ratio: Return relative to average drawdown	18.63	14.17	+4.46
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. UC15.L - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.62, which is comparable to the UC15.L Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of DBJP and UC15.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	UC15.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	2.17	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.09	0.77	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.61	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.26	+0.41

Drawdowns

DBJP vs. UC15.L - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, smaller than the maximum UC15.L drawdown of -51.79%. Use the drawdown chart below to compare losses from any high point for DBJP and UC15.L.

Drawdown Indicators

	DBJP	UC15.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-51.79%	+20.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-4.88%	-5.51%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-11.19%	-10.31%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-18.05%	-3.45%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	-35.40%	+4.10%
Current Drawdown Current decline from peak	-3.50%	-3.98%	+0.48%
Average Drawdown Average peak-to-trough decline	-7.29%	-20.55%	+13.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.20%	+0.47%

Volatility

DBJP vs. UC15.L - Volatility Comparison

Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc (UC15.L) have volatilities of 4.97% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	UC15.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	4.83%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	14.27%	11.92%	+2.35%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	14.32%	+4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	15.02%	+3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	14.62%	+4.86%

DBJP vs. UC15.L - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is higher than UC15.L's 0.34% expense ratio.

Dividends

DBJP vs. UC15.L - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 2.41%, while UC15.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%
UC15.L UBS ETF (IE) CMCI Composite SF UCITS ETF (USD) A-acc	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 UC15.L in my portfolio?

DBJP and UC15.L have a correlation of -0.04, 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 UC15.L?

On fees, UC15.L is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBJP or UC15.L?

UC15.L is cheaper with a 0.34% expense ratio, compared with 0.45% for DBJP.

What is the main difference between DBJP and UC15.L?

DBJP is categorized as Japan Equities, while UC15.L is Commodities. DBJP tracks MSCI Japan US Dollar Hedged Index, while UC15.L tracks UBS CMCI. They also come from different issuers: Xtrackers and UBS. Their fees differ too: 0.45% for DBJP and 0.34% for UC15.L.