DXJA.L vs. HMAD.L
DXJA.L (WisdomTree Japan Equity UCITS ETF USD Hedged Acc) and HMAD.L (HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF) are both Japan Equities funds - DXJA.L tracks the WisdomTree Japan Hedged Equity UCITS Index while HMAD.L tracks the HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. Both are passively managed. Over the past 5 years, DXJA.L returned 27.43%/yr vs 7.36%/yr for HMAD.L. At a 0.47 correlation, their price movements are largely independent. DXJA.L charges 0.48%/yr vs 0.45%/yr for HMAD.L.
Performance
DXJA.L vs. HMAD.L - Performance Comparison
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Returns By Period
In the year-to-date period, DXJA.L achieves a 23.53% return, which is significantly lower than HMAD.L's 26.73% return.
DXJA.L
- 1D
- -0.74%
- 1M
- 2.08%
- 6M
- 15.31%
- YTD
- 23.53%
- 1Y
- 55.91%
- 3Y*
- 33.11%
- 5Y*
- 27.43%
- 10Y*
- —
HMAD.L
- 1D
- -1.11%
- 1M
- -8.23%
- 6M
- 19.23%
- YTD
- 26.73%
- 1Y
- 48.95%
- 3Y*
- 24.40%
- 5Y*
- 7.36%
- 10Y*
- 9.94%
DXJA.L vs. HMAD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXJA.L WisdomTree Japan Equity UCITS ETF USD Hedged Acc | 23.53% | 33.46% | 28.94% | 41.24% | 6.24% | 17.35% | 4.48% | 17.49% | -18.94% | 18.13% |
HMAD.L HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF | 26.73% | 41.42% | 11.84% | 1.71% | -21.78% | -8.81% | 26.05% | 17.57% | -14.95% | 29.99% |
Correlation
The correlation between DXJA.L and HMAD.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017 | 0.47 |
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Return for Risk
DXJA.L vs. HMAD.L — Risk / Return Rank
DXJA.L
HMAD.L
DXJA.L vs. HMAD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L) and HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L). 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.
| DXJA.L | HMAD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.35 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.51 | 3.78 | +1.73 |
| Martin ratioReturn relative to average drawdown | 18.98 | 11.13 | +7.86 |
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Drawdowns
DXJA.L vs. HMAD.L - Drawdown Comparison
The maximum DXJA.L drawdown since its inception was -37.51%, smaller than the maximum HMAD.L drawdown of -50.05%. Use the drawdown chart below to compare losses from any high point for DXJA.L and HMAD.L.
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Drawdown Indicators
| DXJA.L | HMAD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.51% | -50.05% | +12.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -12.83% | +2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -23.01% | -19.56% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.01% | -43.66% | +20.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.05% | — |
Current DrawdownCurrent decline from peak | -1.57% | -10.65% | +9.08% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -16.49% | +9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 4.37% | -1.43% |
Volatility
DXJA.L vs. HMAD.L - Volatility Comparison
The current volatility for WisdomTree Japan Equity UCITS ETF USD Hedged Acc (DXJA.L) is 5.86%, while HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD.L) has a volatility of 10.83%. This indicates that DXJA.L experiences smaller price fluctuations and is considered to be less risky than HMAD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DXJA.L | HMAD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 10.83% | -4.97% |
Volatility (6M)Calculated over the trailing 6-month period | 16.15% | 21.87% | -5.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.12% | 24.64% | -4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.40% | 22.14% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.24% | 20.71% | -1.47% |
DXJA.L vs. HMAD.L - Expense Ratio Comparison
DXJA.L has a 0.48% expense ratio, which is higher than HMAD.L's 0.45% expense ratio.
Dividends
DXJA.L vs. HMAD.L - Dividend Comparison
Neither DXJA.L nor HMAD.L has paid dividends to shareholders.
Frequently Asked Questions
DXJA.L and HMAD.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMAD.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMAD.L is cheaper with a 0.45% expense ratio, compared with 0.48% for DXJA.L.
DXJA.L tracks WisdomTree Japan Hedged Equity UCITS Index, while HMAD.L tracks HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF. They also come from different issuers: WisdomTree and HSBC. Their fees differ too: 0.48% for DXJA.L and 0.45% for HMAD.L.
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