DXJ vs. PBTP
DXJ (WisdomTree Japan Hedged Equity Fund) and PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while PBTP is a Inflation-Protected Bonds fund tracking the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). Both are passively managed. Over the past 5 years, DXJ returned 26.40%/yr vs 3.23%/yr for PBTP. At a correlation of -0.03, they often move in opposite directions. DXJ charges 0.48%/yr vs 0.07%/yr for PBTP.
Performance
DXJ vs. PBTP - 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 PBTP's 1.39% 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%
PBTP
- 1D
- -0.03%
- 1M
- -0.33%
- YTD
- 1.39%
- 6M
- 1.53%
- 1Y
- 3.50%
- 3Y*
- 4.96%
- 5Y*
- 3.23%
- 10Y*
- —
DXJ vs. PBTP - 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% | 10.03% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.39% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
Correlation
The correlation between DXJ and PBTP is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | -0.03 |
The correlation between DXJ and PBTP shifts across timeframes, from -0.14 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DXJ vs. PBTP — Risk / Return Rank
DXJ
PBTP
DXJ vs. PBTP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP). 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 | PBTP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.45 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.12 | 4.63 | +0.49 |
| Martin ratioReturn relative to average drawdown | 19.78 | 16.62 | +3.16 |
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Drawdowns
DXJ vs. PBTP - Drawdown Comparison
The maximum DXJ drawdown since its inception was -49.63%, which is greater than PBTP's maximum drawdown of -5.44%. Use the drawdown chart below to compare losses from any high point for DXJ and PBTP.
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Drawdown Indicators
| DXJ | PBTP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.63% | -5.44% | -44.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.98% | -0.76% | -10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -1.03% | -21.16% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -5.44% | -16.75% |
Max Drawdown (10Y)Largest decline over 10 years | -39.14% | — | — |
Current DrawdownCurrent decline from peak | -3.57% | -0.76% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -14.30% | -0.75% | -13.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 0.21% | +2.62% |
Volatility
DXJ vs. PBTP - Volatility Comparison
WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 6.28% compared to Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) at 0.63%. This indicates that DXJ's price experiences larger fluctuations and is considered to be riskier than PBTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJ | PBTP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 0.63% | +5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 1.17% | +12.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 1.62% | +16.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 2.85% | +16.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.00% | 2.64% | +17.36% |
DXJ vs. PBTP - Expense Ratio Comparison
DXJ has a 0.48% expense ratio, which is higher than PBTP's 0.07% expense ratio.
Dividends
DXJ vs. PBTP - Dividend Comparison
DXJ's dividend yield for the trailing twelve months is around 1.08%, less than PBTP's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXJ WisdomTree Japan Hedged Equity Fund | 1.08% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 4.82% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
DXJ and PBTP have a correlation of -0.14, 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 PBTP (0.63%). In terms of maximum drawdown, DXJ dropped -49.63% vs PBTP's -5.44%.
On 5-year performance, DXJ leads with 26.40% vs 3.23% for PBTP. On fees, PBTP is cheaper at 0.07% per year. On volatility, PBTP has been the lower-risk option at 0.63%. 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 26.40% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PBTP is cheaper with a 0.07% expense ratio, compared with 0.48% for DXJ.
PBTP has the higher dividend yield at 4.82%, compared with 1.08% for DXJ.
DXJ is categorized as Japan Equities, while PBTP is Inflation-Protected Bonds. DXJ tracks WisdomTree Japan Hedged Equity Index, while PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y). They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.48% for DXJ and 0.07% for PBTP.
DXJ currently has the higher Sharpe Ratio (3.10 vs 2.18), 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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