DXJ vs. GLDM
DXJ (WisdomTree Japan Hedged Equity Fund) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, DXJ returned 26.01%/yr vs 17.41%/yr for GLDM. At a correlation of -0.02, they often move in opposite directions. DXJ charges 0.48%/yr vs 0.10%/yr for GLDM.
Performance
DXJ vs. GLDM - 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 GLDM's -2.40% return.
DXJ
- 1D
- 0.74%
- 1M
- -0.37%
- YTD
- 18.74%
- 6M
- 19.84%
- 1Y
- 54.41%
- 3Y*
- 30.91%
- 5Y*
- 26.01%
- 10Y*
- 18.72%
GLDM
- 1D
- 0.11%
- 1M
- -9.52%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
DXJ vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 18.74% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -13.09% |
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
Correlation
The correlation between DXJ and GLDM is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | -0.02 |
The correlation between DXJ and GLDM shifts across timeframes, from -0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DXJ vs. GLDM — Risk / Return Rank
DXJ
GLDM
DXJ vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and SPDR Gold MiniShares Trust (GLDM). 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 | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.19 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 4.88 | 1.00 | +3.89 |
| Martin ratioReturn relative to average drawdown | 18.93 | 2.87 | +16.06 |
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Drawdowns
DXJ vs. GLDM - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for DXJ and GLDM.
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Drawdown Indicators
| DXJ | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -24.35% | -25.28% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -24.35% | +13.37% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -24.35% | +2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -24.35% | +2.16% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | — | — |
Current DrawdownCurrent decline from peak | -1.34% | -21.96% | +20.62% |
Average DrawdownAverage peak-to-trough decline | -14.32% | -6.27% | -8.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 8.44% | -5.61% |
Volatility
DXJ vs. GLDM - Volatility Comparison
The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 4.64%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 7.73%. This indicates that DXJ experiences smaller price fluctuations and is considered to be less risky than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJ | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 7.73% | -3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 23.93% | -10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.73% | 27.15% | -9.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.02% | 18.13% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 16.98% | +3.19% |
DXJ vs. GLDM - Expense Ratio Comparison
DXJ has a 0.48% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
DXJ vs. GLDM - Dividend Comparison
DXJ's dividend yield for the trailing twelve months is around 1.09%, while GLDM 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% |
GLDM SPDR Gold MiniShares Trust | 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 GLDM have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDM has higher volatility (7.73%) compared to DXJ (4.64%). In terms of maximum drawdown, DXJ dropped -49.63% vs GLDM's -24.35%.
On 5-year performance, DXJ leads with 26.01% vs 17.41% for GLDM. On fees, GLDM is cheaper at 0.10% 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 5-year period, DXJ has performed better with a 26.01% return vs 17.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.48% for DXJ.
DXJ has the higher dividend yield at 1.09%, compared with 0.00% for GLDM.
DXJ is categorized as Japan Equities, while GLDM is Gold. DXJ tracks WisdomTree Japan Hedged Equity Index, while GLDM tracks LBMA Gold Price PM. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.48% for DXJ and 0.10% for GLDM.
DXJ currently has the higher Sharpe Ratio (3.02 vs 0.90), 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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