DXJ vs. JPYUSD=X
DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while JPYUSD=X (JPY/USD) is a currency. Over the past 10 years, DXJ returned 19.25%/yr vs -4.47%/yr for JPYUSD=X. At a correlation of -0.41, they often move in opposite directions.
Performance
DXJ vs. JPYUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, DXJ achieves a 20.23% return, which is significantly higher than JPYUSD=X's -3.01% return. Over the past 10 years, DXJ has outperformed JPYUSD=X with an annualized return of 19.25%, while JPYUSD=X has yielded a comparatively lower -4.47% annualized return.
DXJ
- 1D
- -3.57%
- 1M
- 2.21%
- YTD
- 20.23%
- 6M
- 20.18%
- 1Y
- 55.89%
- 3Y*
- 31.66%
- 5Y*
- 26.40%
- 10Y*
- 19.25%
JPYUSD=X
- 1D
- 0.01%
- 1M
- -1.62%
- YTD
- -3.01%
- 6M
- -3.30%
- 1Y
- -9.51%
- 3Y*
- -3.82%
- 5Y*
- -7.25%
- 10Y*
- -4.47%
DXJ vs. JPYUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 20.23% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
JPYUSD=X JPY/USD | -3.01% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
Correlation
The correlation between DXJ and JPYUSD=X is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2007 | -0.41 |
Over the past year, the inverse relationship between DXJ and JPYUSD=X has weakened: their correlation has moved from -0.41 to -0.01, meaning they move in opposite directions less often than they have historically.
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Return for Risk
DXJ vs. JPYUSD=X — Risk / Return Rank
DXJ
JPYUSD=X
DXJ vs. JPYUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and JPY/USD (JPYUSD=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 | JPYUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.13 | ||
| Sortino ratioReturn per unit of downside risk | +5.54 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 0.83 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 5.12 | -0.69 | +5.80 |
| Martin ratioReturn relative to average drawdown | 19.78 | -1.03 | +20.81 |
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Drawdowns
DXJ vs. JPYUSD=X - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, smaller than the maximum JPYUSD=X drawdown of -52.96%. Use the drawdown chart below to compare losses from any high point for DXJ and JPYUSD=X.
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Drawdown Indicators
| DXJ | JPYUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -52.96% | +3.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -11.26% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -14.63% | -7.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -32.59% | +10.40% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | -38.21% | -0.93% |
Current DrawdownCurrent decline from peak | -3.57% | -52.90% | +49.33% |
Average DrawdownAverage peak-to-trough decline | -14.30% | -27.00% | +12.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 6.38% | -3.55% |
Volatility
DXJ vs. JPYUSD=X - Volatility Comparison
WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 6.28% compared to JPY/USD (JPYUSD=X) at 0.73%. This indicates that DXJ's price experiences larger fluctuations and is considered to be riskier than JPYUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJ | JPYUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 0.73% | +5.55% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 4.89% | +9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 7.47% | +10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 9.55% | +9.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.00% | 8.76% | +11.24% |
Frequently Asked Questions
DXJ and JPYUSD=X have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DXJ has higher volatility (6.28%) compared to JPYUSD=X (0.73%). In terms of maximum drawdown, DXJ dropped -49.63% vs JPYUSD=X's -52.96%.
DXJ currently has the higher Sharpe Ratio (3.10 vs -1.03), 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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