DXJ vs. AA
DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while AA (Alcoa Corporation) is a stock. Over the past 5 years, DXJ returned 26.01%/yr vs 14.08%/yr for AA. At a 0.37 correlation, their price movements are largely independent.
Performance
DXJ vs. AA - Performance Comparison
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Returns By Period
In the year-to-date period, DXJ achieves a 18.74% return, which is significantly lower than AA's 29.83% return.
DXJ
- 1D
- 0.74%
- 1M
- -0.20%
- YTD
- 18.74%
- 6M
- 19.84%
- 1Y
- 53.35%
- 3Y*
- 30.91%
- 5Y*
- 26.01%
- 10Y*
- 18.72%
AA
- 1D
- -0.30%
- 1M
- 0.64%
- YTD
- 29.83%
- 6M
- 49.53%
- 1Y
- 140.52%
- 3Y*
- 24.73%
- 5Y*
- 14.08%
- 10Y*
- —
DXJ vs. AA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 18.74% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
AA Alcoa Corporation | 29.83% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 7.16% | -19.07% | -50.66% | 91.84% |
Correlation
The correlation between DXJ and AA is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2016 | 0.37 |
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Return for Risk
DXJ vs. AA — Risk / Return Rank
DXJ
AA
DXJ vs. AA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and Alcoa Corporation (AA). 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.
| DXJ | AA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.36 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 6.49 | -1.61 |
| Martin ratioReturn relative to average drawdown | 18.93 | 20.55 | -1.62 |
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Drawdowns
DXJ vs. AA - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, smaller than the maximum AA drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for DXJ and AA.
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Drawdown Indicators
| DXJ | AA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -90.90% | +41.27% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -21.77% | +10.79% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -52.25% | +30.06% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -75.46% | +53.27% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | — | — |
Current DrawdownCurrent decline from peak | -1.34% | -24.27% | +22.93% |
Average DrawdownAverage peak-to-trough decline | -14.32% | -46.12% | +31.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 6.87% | -4.04% |
Volatility
DXJ vs. AA - Volatility Comparison
The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 4.64%, while Alcoa Corporation (AA) has a volatility of 21.35%. This indicates that DXJ experiences smaller price fluctuations and is considered to be less risky than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJ | AA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 21.35% | -16.71% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 41.11% | -27.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.73% | 54.44% | -36.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 56.26% | -37.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 55.66% | -35.49% |
Dividends
DXJ vs. AA - Dividend Comparison
DXJ's dividend yield for the trailing twelve months is around 1.09%, more than AA's 0.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 0.58% | 0.75% | 1.06% | 1.18% | 0.88% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% | 0.00% |
DXJ WisdomTree Japan Hedged Equity Fund | 1.09% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
Frequently Asked Questions
DXJ and AA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AA has higher volatility (21.35%) compared to DXJ (4.64%). In terms of maximum drawdown, DXJ dropped -49.63% vs AA's -90.90%.
DXJ currently has the higher Sharpe Ratio (3.02 vs 2.60), 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.
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