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 18.44%/yr vs -4.27%/yr for JPYUSD=X. Their -0.40 correlation means they have often moved in opposite directions in the past.
Performance
DXJ vs. JPYUSD=X - Performance Comparison
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Returns By Period
In the year-to-date period, DXJ achieves a 19.19% return, which is significantly higher than JPYUSD=X's -0.55% return. Over the past 10 years, DXJ has outperformed JPYUSD=X with an annualized return of 18.44%, while JPYUSD=X has yielded a comparatively lower -4.27% annualized 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%
JPYUSD=X
- 1D
- -0.67%
- 1M
- 2.42%
- 6M
- -1.23%
- YTD
- -0.55%
- 1Y
- -6.50%
- 3Y*
- -3.46%
- 5Y*
- -7.02%
- 10Y*
- -4.27%
- ALL TIME*
- -1.69%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $74.17M | $64.25M | $59.52M | |
JPYUSD=X JPY/USD | $797.56 | $666.06 | $588.71 |
DXJ vs. JPYUSD=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% |
JPYUSD=X JPY/USD | -0.55% | 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 0.03, 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. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.23 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.35 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2007 | -0.40 |
The correlation between DXJ and JPYUSD=X shifts across timeframes, from -0.40 (all time) to 0.03 (1 year), reflecting how their relationship changes across market environments.
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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 | +3.31 | ||
| Sortino ratioReturn per unit of downside risk | +4.45 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.88 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 4.28 | -0.50 | +4.77 |
| Martin ratioReturn relative to average drawdown | 15.89 | -0.80 | +16.70 |
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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 -53.57%. 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% | -53.57% | +3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -10.61% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -14.18% | -8.01% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -33.35% | +11.16% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | -39.01% | -0.13% |
Current DrawdownCurrent decline from peak | -5.05% | -51.70% | +46.65% |
Average DrawdownAverage peak-to-trough decline | -14.24% | -27.36% | +13.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 4.92% | -1.97% |
Volatility
DXJ vs. JPYUSD=X - Volatility Comparison
WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 6.27% compared to JPY/USD (JPYUSD=X) at 3.01%. 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 | 6.27% | 3.01% | +3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 5.10% | +9.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.12% | 7.35% | +10.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 9.60% | +9.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 8.65% | +11.26% |
Frequently Asked Questions
DXJ and JPYUSD=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 JPYUSD=X (3.01%). In terms of maximum drawdown, DXJ dropped -49.63% vs JPYUSD=X's -53.57%.
DXJ currently has the higher Sharpe Ratio (2.60 vs -0.72), 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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