DXJ vs. GLD
DXJ (WisdomTree Japan Hedged Equity Fund) and GLD (SPDR Gold Shares) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while GLD is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, DXJ returned 18.72%/yr vs 12.15%/yr for GLD. At a correlation of -0.02, they often move in opposite directions. DXJ charges 0.48%/yr vs 0.40%/yr for GLD.
Performance
DXJ vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, DXJ achieves a 18.74% return, which is significantly higher than GLD's -2.47% return. Over the past 10 years, DXJ has outperformed GLD with an annualized return of 18.72%, while GLD has yielded a comparatively lower 12.15% annualized return.
DXJ
- 1D
- 0.74%
- 1M
- 0.35%
- YTD
- 18.74%
- 6M
- 19.84%
- 1Y
- 54.41%
- 3Y*
- 30.91%
- 5Y*
- 26.01%
- 10Y*
- 18.72%
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
DXJ vs. GLD - 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% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between DXJ and GLD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2006 | -0.02 |
The correlation between DXJ and GLD shifts across timeframes, from -0.08 (10 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DXJ vs. GLD — Risk / Return Rank
DXJ
GLD
DXJ vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and SPDR Gold Shares (GLD). 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 | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.15 | ||
| Sortino ratioReturn per unit of downside risk | +2.80 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.18 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 0.98 | +3.91 |
| Martin ratioReturn relative to average drawdown | 18.93 | 2.81 | +16.12 |
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Drawdowns
DXJ vs. GLD - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for DXJ and GLD.
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Drawdown Indicators
| DXJ | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -45.56% | -4.07% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -24.46% | +13.48% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -24.46% | +2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -24.46% | +2.27% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | -24.46% | -14.68% |
Current DrawdownCurrent decline from peak | -1.34% | -22.05% | +20.71% |
Average DrawdownAverage peak-to-trough decline | -14.32% | -16.16% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 8.49% | -5.66% |
Volatility
DXJ vs. GLD - Volatility Comparison
The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 4.64%, while SPDR Gold Shares (GLD) has a volatility of 7.79%. This indicates that DXJ experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJ | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 7.79% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 24.10% | -10.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.73% | 27.37% | -9.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 18.22% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 16.08% | +4.09% |
DXJ vs. GLD - Expense Ratio Comparison
DXJ has a 0.48% expense ratio, which is higher than GLD's 0.40% expense ratio.
Dividends
DXJ vs. GLD - Dividend Comparison
DXJ's dividend yield for the trailing twelve months is around 1.09%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
GLD SPDR Gold Shares | 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
DXJ and GLD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (7.79%) compared to DXJ (4.64%). In terms of maximum drawdown, DXJ dropped -49.63% vs GLD's -45.56%.
On 10-year performance, DXJ leads with 18.72% vs 12.15% for GLD. On fees, GLD is cheaper at 0.40% per year. On volatility, DXJ has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DXJ has performed better with a 18.72% return vs 12.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLD is cheaper with a 0.40% expense ratio, compared with 0.48% for DXJ.
DXJ has the higher dividend yield at 1.09%, compared with 0.00% for GLD.
DXJ is categorized as Japan Equities, while GLD is Gold. DXJ tracks WisdomTree Japan Hedged Equity Index, while GLD tracks LBMA Gold Price PM. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.48% for DXJ and 0.40% for GLD.
DXJ currently has the higher Sharpe Ratio (3.02 vs 0.87), 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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