DXJ vs. JPYUSD=X

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Japan Hedged Equity Fund (DXJ) and JPY/USD (JPYUSD=X).

DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006.

Performance

DXJ vs. JPYUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Hedged Equity Fund (DXJ) and JPY/USD (JPYUSD=X). The values are adjusted to include any dividend payments, if applicable.

DXJ vs. JPYUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJ WisdomTree Japan Hedged Equity Fund	12.49%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%
JPYUSD=X JPY/USD	-1.48%	0.33%	-10.26%	-7.04%	-12.23%	-10.24%	5.18%	0.86%	2.82%	3.91%

Returns By Period

In the year-to-date period, DXJ achieves a 12.49% return, which is significantly higher than JPYUSD=X's -1.48% return. Over the past 10 years, DXJ has outperformed JPYUSD=X with an annualized return of 17.51%, while JPYUSD=X has yielded a comparatively lower -3.47% annualized return.

DXJ

• 1D: 2.26%
• 1M: -2.82%
• YTD: 12.49%
• 6M: 28.11%
• 1Y: 50.78%
• 3Y*: 35.37%
• 5Y*: 24.88%
• 10Y*: 17.51%

JPYUSD=X

• 1D: -0.18%
• 1M: -1.04%
• YTD: -1.48%
• 6M: -7.51%
• 1Y: -5.87%
• 3Y*: -5.83%
• 5Y*: -6.99%
• 10Y*: -3.47%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

DXJ vs. JPYUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DXJ

DXJ Risk / Return Rank: 94
DXJ Sharpe Ratio Rank: 93
DXJ Sortino Ratio Rank: 93
DXJ Omega Ratio Rank: 94
DXJ Calmar Ratio Rank: 94
DXJ Martin Ratio Rank: 94

JPYUSD=X

JPYUSD=X Risk / Return Rank: 20
JPYUSD=X Sharpe Ratio Rank: 32
JPYUSD=X Sortino Ratio Rank: 30
JPYUSD=X Omega Ratio Rank: 32
JPYUSD=X Calmar Ratio Rank: 0
JPYUSD=X Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	DXJ	JPYUSD=X	Difference
Sharpe ratio Return per unit of total volatility	2.24	-0.54	+2.77
Sortino ratio Return per unit of downside risk	2.88	-0.71	+3.60
Omega ratio Gain probability vs. loss probability	1.45	0.92	+0.53
Calmar ratio Return relative to maximum drawdown	3.91	-0.86	+4.78
Martin ratio Return relative to average drawdown	15.24	-1.41	+16.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXJ vs. JPYUSD=X - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 2.24, which is higher than the JPYUSD=X Sharpe Ratio of -0.54. The chart below compares the historical Sharpe Ratios of DXJ and JPYUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DXJ	JPYUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	-0.54	+2.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	-0.68	+2.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	-0.36	+1.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	-0.14	+0.55

Correlation

The correlation between DXJ and JPYUSD=X is -0.41. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

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.

Drawdown Indicators

	DXJ	JPYUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-52.96%	+3.33%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-12.14%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-33.32%	+11.13%
Max Drawdown (10Y) Largest decline over 10 years	-39.14%	-38.21%	-0.93%
Current Drawdown Current decline from peak	-4.69%	-52.16%	+47.47%
Average Drawdown Average peak-to-trough decline	-14.44%	-26.30%	+11.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	6.49%	-3.24%

Volatility

DXJ vs. JPYUSD=X - Volatility Comparison

WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 7.27% compared to JPY/USD (JPYUSD=X) at 2.30%. 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.

Volatility by Period

	DXJ	JPYUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	2.30%	+4.97%
Volatility (6M) Calculated over the trailing 6-month period	13.82%	5.39%	+8.43%
Volatility (1Y) Calculated over the trailing 1-year period	22.85%	8.89%	+13.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	9.55%	+9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.51%	9.05%	+11.46%