DXJ vs. JPY=X
DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while JPY=X (USD/JPY) is a currency. Over the past 10 years, DXJ returned 18.44%/yr vs 0.00%/yr for JPY=X. Their -0.04 correlation means they have often moved in opposite directions in the past.
Performance
DXJ vs. JPY=X - Performance Comparison
Loading charts...
Different Trading Currencies
DXJ is traded in USD, while JPY=X is traded in JPY. To make them comparable, the JPY=X values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DXJ achieves a 19.19% return, which is significantly higher than JPY=X's -0.12% return.
DXJ
- 1D
- -1.70%
- 1M
- -2.32%
- 6M
- 11.80%
- YTD
- 19.19%
- 1Y
- 46.73%
- 3Y*
- 30.24%
- 5Y*
- 26.79%
- 10Y*
- 18.44%
- ALL TIME*
- 9.34%
JPY=X
- 1D
- -0.05%
- 1M
- 0.01%
- 6M
- -0.01%
- YTD
- -0.12%
- 1Y
- -0.28%
- 3Y*
- 0.01%
- 5Y*
- -0.01%
- 10Y*
- 0.00%
- ALL TIME*
- 0.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $74.17M | $64.25M | $59.52M | |
JPY=X USD/JPY | $267.69K | $223.88K | $206.52K |
DXJ vs. JPY=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 19.19% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
JPY=X USD/JPY | -0.12% | 0.04% | 0.14% | -0.04% | -0.02% | 0.05% | -0.02% | -0.12% | 0.11% | 0.07% |
Correlation
The correlation between DXJ and JPY=X is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.03 |
Correlation (3Y) Balances recent behavior with more history. | 0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2007 | -0.04 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DXJ vs. JPY=X — Risk / Return Rank
DXJ
JPY=X
DXJ vs. JPY=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and USD/JPY (JPY=X). 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 | JPY=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.76 | ||
| Sortino ratioReturn per unit of downside risk | +3.60 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.97 | +0.49 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | -0.35 | +4.63 |
| Martin ratioReturn relative to average drawdown | 15.89 | -0.56 | +16.45 |
Loading charts...
Drawdowns
DXJ vs. JPY=X - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, which is greater than JPY=X's maximum drawdown of -3.69%. Use the drawdown chart below to compare losses from any high point for DXJ and JPY=X.
Loading charts...
Drawdown Indicators
| DXJ | JPY=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -3.69% | -45.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -0.64% | -10.34% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -1.42% | -20.77% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -1.70% | -20.49% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | -1.75% | -37.39% |
Current DrawdownCurrent decline from peak | -5.05% | -2.40% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -14.24% | -2.09% | -12.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 0.41% | +2.54% |
Volatility
DXJ vs. JPY=X - Volatility Comparison
WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 6.27% compared to USD/JPY (JPY=X) at 0.24%. This indicates that DXJ's price experiences larger fluctuations and is considered to be riskier than JPY=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DXJ | JPY=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 0.24% | +6.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 0.70% | +13.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.12% | 1.40% | +16.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 1.45% | +17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 1.28% | +18.63% |
Frequently Asked Questions
DXJ and JPY=X have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DXJ has higher volatility (6.27%) compared to JPY=X (0.24%). In terms of maximum drawdown, DXJ dropped -49.63% vs JPY=X's -3.69%.
DXJ currently has the higher Sharpe Ratio (2.60 vs -0.16), 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.
Find the right allocation for DXJ and JPY=X
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer