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DXJ vs. XQQ.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DXJ vs. XQQ.TO

Last updated Jun 9, 2026

DXJ (WisdomTree Japan Hedged Equity Fund) and XQQ.TO (iShares NASDAQ 100 Index ETF (CAD-Hedged)) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while XQQ.TO is a Nasdaq-100 fund tracking the Morningstar US Market TR CAD. Both are passively managed. Over the past 10 years, DXJ returned 18.23%/yr vs 18.92%/yr for XQQ.TO. At a 0.45 correlation, their price movements are largely independent. DXJ charges 0.48%/yr vs 0.39%/yr for XQQ.TO.

Performance

DXJ vs. XQQ.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Hedged Equity Fund (DXJ) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

DXJ is traded in USD, while XQQ.TO is traded in CAD. To make them comparable, the XQQ.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DXJ achieves a 17.86% return, which is significantly higher than XQQ.TO's 13.12% return. Both investments have delivered pretty close results over the past 10 years, with DXJ having a 18.23% annualized return and XQQ.TO not far ahead at 18.92%.

DXJ

1D
0.39%
1M
2.00%
YTD
17.86%
6M
21.01%
1Y
51.36%
3Y*
31.77%
5Y*
25.93%
10Y*
18.23%

XQQ.TO

1D
1.15%
1M
-1.40%
YTD
13.12%
6M
10.11%
1Y
27.06%
3Y*
22.58%
5Y*
11.15%
10Y*
18.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DXJ vs. XQQ.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DXJ
WisdomTree Japan Hedged Equity Fund		17.86%32.78%29.83%42.04%5.96%17.99%3.94%18.94%-19.78%22.81%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		13.12%21.31%14.96%56.99%-37.11%22.83%49.67%44.89%-8.97%43.10%

Correlation

The correlation between DXJ and XQQ.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.42

Correlation (5Y)
Calculated over the trailing 5-year period

0.47

Correlation (10Y)
Calculated over the trailing 10-year period

0.48

Correlation (All Time)
Calculated using the full available price history since May 11, 2011

0.45

DXJ vs. XQQ.TO - Sectors Allocation Comparison

Sectors
DXJ
XQQ.TO

Industrials

27.4%
3.1%

Financial Services

18.3%
0.2%

Consumer Cyclical

15.6%
12.2%

Technology

12.9%
53.7%

Basic Materials

8.5%
1.1%

Healthcare

6.8%
4.2%

Consumer Defensive

4.7%
7.7%

Communication Services

2.7%
15.8%

Energy

1.7%
0.6%

Utilities

0.1%
1.4%

Real Estate

-

0.1%

Industrials

DXJ
27.4%
XQQ.TO
3.1%

Financial Services

DXJ
18.3%
XQQ.TO
0.2%

Consumer Cyclical

DXJ
15.6%
XQQ.TO
12.2%

Technology

DXJ
12.9%
XQQ.TO
53.7%

Basic Materials

DXJ
8.5%
XQQ.TO
1.1%

Healthcare

DXJ
6.8%
XQQ.TO
4.2%

Consumer Defensive

DXJ
4.7%
XQQ.TO
7.7%

Communication Services

DXJ
2.7%
XQQ.TO
15.8%

Energy

DXJ
1.7%
XQQ.TO
0.6%

Utilities

DXJ
0.1%
XQQ.TO
1.4%

Real Estate

DXJ

-

XQQ.TO
0.1%

Compare stocks, funds, or ETFs

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WisdomTree Japan Hedged Equity Fund

iShares NASDAQ 100 Index ETF (CAD-Hedged)

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Return for Risk

DXJ vs. XQQ.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DXJ
DXJ Risk / Return Rank: 9090
Overall Rank
DXJ Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9191
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9090
Omega Ratio Rank
DXJ Calmar Ratio Rank: 8888
Calmar Ratio Rank
DXJ Martin Ratio Rank: 8989
Martin Ratio Rank
XQQ.TO
XQQ.TO Risk / Return Rank: 5151
Overall Rank
XQQ.TO Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
XQQ.TO Sortino Ratio Rank: 5353
Sortino Ratio Rank
XQQ.TO Omega Ratio Rank: 5656
Omega Ratio Rank
XQQ.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
XQQ.TO Martin Ratio Rank: 4545
Martin Ratio Rank
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. XQQ.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO). 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.

DXJXQQ.TODifference
Sharpe ratioReturn per unit of total volatility
2.94
1.54

+1.40

Sortino ratioReturn per unit of downside risk
3.96
2.04

+1.92

Omega ratioGain probability vs. loss probability

1.53

1.28

+0.26

Calmar ratioReturn relative to maximum drawdown

4.70

1.88

+2.82

Martin ratioReturn relative to average drawdown

18.34

7.01

+11.33

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. XQQ.TO - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 2.94, which is higher than the XQQ.TO Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of DXJ and XQQ.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DXJXQQ.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.94

1.54

+1.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.37

0.48

+0.89

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.91

0.81

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.67

-0.25

Drawdowns

DXJ vs. XQQ.TO - Drawdown Comparison

The maximum DXJ drawdown since its inception was -49.63%, which is greater than XQQ.TO's maximum drawdown of -43.53%. Use the drawdown chart below to compare losses from any high point for DXJ and XQQ.TO.

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Drawdown Indicators

DXJXQQ.TODifference

Max Drawdown

Largest peak-to-trough decline

-49.63%

-43.53%

-6.10%

Max Drawdown (1Y)

Largest decline over 1 year

-10.98%

-14.43%

+3.45%

Max Drawdown (3Y)

Largest decline over 3 years

-22.19%

-22.99%

+0.80%

Max Drawdown (5Y)

Largest decline over 5 years

-22.19%

-43.53%

+21.34%

Max Drawdown (10Y)

Largest decline over 10 years

-39.14%

-43.53%

+4.39%

Current Drawdown

Current decline from peak

-2.06%

-4.84%

+2.78%

Average Drawdown

Average peak-to-trough decline

-14.33%

-7.80%

-6.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.81%

3.87%

-1.06%

Volatility

DXJ vs. XQQ.TO - Volatility Comparison

The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 4.19%, while iShares NASDAQ 100 Index ETF (CAD-Hedged) (XQQ.TO) has a volatility of 6.70%. This indicates that DXJ experiences smaller price fluctuations and is considered to be less risky than XQQ.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DXJXQQ.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.19%

6.70%

-2.51%

Volatility (6M)

Calculated over the trailing 6-month period

13.33%

13.80%

-0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

17.58%

17.63%

-0.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.00%

23.44%

-4.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.19%

23.38%

-3.19%

DXJ vs. XQQ.TO - Expense Ratio Comparison

DXJ has a 0.48% expense ratio, which is higher than XQQ.TO's 0.39% expense ratio.

Dividends

DXJ vs. XQQ.TO - Dividend Comparison

DXJ's dividend yield for the trailing twelve months is around 1.10%, more than XQQ.TO's 0.22% yield.

PositionTTM20252024202320222021202020192018201720162015
DXJ
WisdomTree Japan Hedged Equity Fund		1.10%1.29%3.48%3.44%3.02%2.64%2.53%2.47%2.92%2.30%1.98%5.95%
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)		0.22%0.25%0.67%0.93%1.27%0.52%0.80%1.44%1.61%1.64%2.35%1.93%

Frequently Asked Questions

DXJ and XQQ.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XQQ.TO is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XQQ.TO is cheaper with a 0.39% expense ratio, compared with 0.48% for DXJ.

DXJ is categorized as Japan Equities, while XQQ.TO is Nasdaq-100. DXJ tracks WisdomTree Japan Hedged Equity Index, while XQQ.TO tracks Morningstar US Market TR CAD. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.48% for DXJ and 0.39% for XQQ.TO.

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