DBJP vs. USTY.L
DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and USTY.L (SPDR Bloomberg US Treasury Bond UCITS ETF) are both exchange-traded funds - DBJP is a Japan Equities fund tracking the MSCI Japan US Dollar Hedged Index, while USTY.L is a Government Bonds fund tracking the Bloomberg US Treasury Index. Both are passively managed. Over the past 10 years, DBJP returned 15.87%/yr vs 1.54%/yr for USTY.L. At a correlation of -0.11, they often move in opposite directions. DBJP charges 0.45%/yr vs 0.05%/yr for USTY.L.
Performance
DBJP vs. USTY.L - Performance Comparison
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Different Trading Currencies
DBJP is traded in USD, while USTY.L is traded in GBP. To make them comparable, the USTY.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 higher than USTY.L's 0.42% return. Over the past 10 years, DBJP has outperformed USTY.L with an annualized return of 15.87%, while USTY.L has yielded a comparatively lower 1.54% 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%
USTY.L
- 1D
- 0.26%
- 1M
- -0.28%
- YTD
- 0.42%
- 6M
- 0.88%
- 1Y
- 5.09%
- 3Y*
- 3.82%
- 5Y*
- 0.31%
- 10Y*
- 1.54%
DBJP vs. USTY.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% |
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 0.42% | 7.65% | 1.64% | 3.84% | -12.17% | -1.76% | 7.78% | 8.38% | 1.15% | 2.48% |
Correlation
The correlation between DBJP and USTY.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2015 | -0.11 |
The correlation between DBJP and USTY.L shifts across timeframes, from -0.11 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBJP vs. USTY.L — Risk / Return Rank
DBJP
USTY.L
DBJP vs. USTY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.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 | USTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.68 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.16 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 4.79 | 1.46 | +3.34 |
| Martin ratioReturn relative to average drawdown | 18.63 | 4.56 | +14.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBJP | USTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | 0.94 | +1.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.09 | 0.04 | +1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.22 | +0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.26 | +0.41 |
Drawdowns
DBJP vs. USTY.L - Drawdown Comparison
The maximum DBJP drawdown since its inception was -31.30%, which is greater than USTY.L's maximum drawdown of -18.61%. Use the drawdown chart below to compare losses from any high point for DBJP and USTY.L.
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Drawdown Indicators
| DBJP | USTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.30% | -18.61% | -12.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.39% | -3.42% | -6.97% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | -5.11% | -16.39% |
Max Drawdown (5Y)Largest decline over 5 years | -21.50% | -16.44% | -5.06% |
Max Drawdown (10Y)Largest decline over 10 years | -31.30% | -18.61% | -12.69% |
Current DrawdownCurrent decline from peak | -3.50% | -3.73% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -7.29% | -5.80% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 1.09% | +1.58% |
Volatility
DBJP vs. USTY.L - Volatility Comparison
Xtrackers MSCI Japan Hedged Equity ETF (DBJP) has a higher volatility of 4.97% compared to SPDR Bloomberg US Treasury Bond UCITS ETF (USTY.L) at 1.73%. This indicates that DBJP's price experiences larger fluctuations and is considered to be riskier than USTY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBJP | USTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 1.73% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 3.97% | +10.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.02% | 5.33% | +13.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 7.13% | +11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.48% | 6.86% | +12.62% |
DBJP vs. USTY.L - Expense Ratio Comparison
DBJP has a 0.45% expense ratio, which is higher than USTY.L's 0.05% expense ratio.
Dividends
DBJP vs. USTY.L - Dividend Comparison
DBJP's dividend yield for the trailing twelve months is around 2.41%, less than USTY.L's 4.87% yield.
| 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% |
USTY.L SPDR Bloomberg US Treasury Bond UCITS ETF | 4.87% | 4.61% | 3.81% | 2.81% | 1.57% | 1.31% | 2.49% | 2.79% | 2.11% | 2.11% | 1.66% | 0.00% |
Frequently Asked Questions
DBJP and USTY.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, USTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
USTY.L is cheaper with a 0.05% expense ratio, compared with 0.45% for DBJP.
DBJP is categorized as Japan Equities, while USTY.L is Government Bonds. DBJP tracks MSCI Japan US Dollar Hedged Index, while USTY.L tracks Bloomberg US Treasury Index. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.45% for DBJP and 0.05% for USTY.L.
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