DXJG.L vs. JPNL.L

Last updated Jun 26, 2026

DXJG.L (WisdomTree Japan Equity UCITS ETF JPY Acc) and JPNL.L (Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR) are both Japan Equities funds tracking the TOPIX TR JPY, from WisdomTree and Amundi respectively. Both are passively managed. Over the past 10 years, DXJG.L returned 11.86%/yr vs 9.32%/yr for JPNL.L. Their correlation of 0.90 suggests significant overlap in exposure. DXJG.L charges 0.40%/yr vs 0.45%/yr for JPNL.L.

Performance

DXJG.L vs. JPNL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Japan Equity UCITS ETF JPY Acc (DXJG.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXJG.L achieves a 19.06% return, which is significantly higher than JPNL.L's 16.60% return. Over the past 10 years, DXJG.L has outperformed JPNL.L with an annualized return of 11.86%, while JPNL.L has yielded a comparatively lower 9.32% annualized return.

DXJG.L

• 1D: 0.23%
• 1M: 2.89%
• YTD: 19.06%
• 6M: 19.26%
• 1Y: 41.67%
• 3Y*: 20.65%
• 5Y*: 14.57%
• 10Y*: 11.86%

JPNL.L

• 1D: 0.18%
• 1M: 1.96%
• YTD: 16.60%
• 6M: 16.78%
• 1Y: 36.07%
• 3Y*: 16.76%
• 5Y*: 9.78%
• 10Y*: 9.32%

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

DXJG.L vs. JPNL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJG.L WisdomTree Japan Equity UCITS ETF JPY Acc	19.06%	19.87%	13.08%	18.87%	1.09%	6.32%	5.73%	12.68%	-11.82%	11.96%
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR	16.60%	17.96%	7.75%	13.02%	-5.78%	0.85%	10.24%	13.26%	-9.85%	14.89%

Correlation

The correlation between DXJG.L and JPNL.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 2, 2015	0.90

The correlation between DXJG.L and JPNL.L has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

DXJG.L vs. JPNL.L - Sectors Allocation Comparison

Sectors	DXJG.L	JPNL.L
Industrials	25.9%	25.4%
Financial Services	20.7%	17.8%
Technology	16.4%	18.7%
Consumer Cyclical	15.8%	12.1%
Basic Materials	7.3%	4.5%
Healthcare	6.3%	5.4%
Communication Services	3.6%	8.0%
Consumer Defensive	2.5%	4.2%
Energy	1.6%	0.9%
Real Estate	-	1.9%
Utilities	-	1.2%

Return for Risk

DXJG.L vs. JPNL.L — Risk / Return Rank

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

DXJG.L

DXJG.L Risk / Return Rank: 79
DXJG.L Sharpe Ratio Rank: 80
DXJG.L Sortino Ratio Rank: 78
DXJG.L Omega Ratio Rank: 78
DXJG.L Calmar Ratio Rank: 83
DXJG.L Martin Ratio Rank: 74

JPNL.L

JPNL.L Risk / Return Rank: 71
JPNL.L Sharpe Ratio Rank: 71
JPNL.L Sortino Ratio Rank: 69
JPNL.L Omega Ratio Rank: 73
JPNL.L Calmar Ratio Rank: 75
JPNL.L Martin Ratio Rank: 67

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.

DXJG.L vs. JPNL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Equity UCITS ETF JPY Acc (DXJG.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.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.

	DXJG.L	JPNL.L	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.00	+0.24
Sortino ratio: Return per unit of downside risk	3.04	2.75	+0.28
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.03
Calmar ratio: Return relative to maximum drawdown	3.95	3.38	+0.57
Martin ratio: Return relative to average drawdown	12.17	10.63	+1.53

DXJG.L vs. JPNL.L - Sharpe Ratio Comparison

The current DXJG.L Sharpe Ratio is 2.24, which is comparable to the JPNL.L Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DXJG.L and JPNL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DXJG.L vs. JPNL.L - Drawdown Comparison

The maximum DXJG.L drawdown since its inception was -28.93%, smaller than the maximum JPNL.L drawdown of -38.87%. Use the drawdown chart below to compare losses from any high point for DXJG.L and JPNL.L.

Drawdown Indicators

	DXJG.L	JPNL.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.93%	-38.87%	+9.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-10.63%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-20.19%	-13.44%	-6.75%
Max Drawdown (5Y) Largest decline over 5 years	-20.19%	-18.80%	-1.39%
Max Drawdown (10Y) Largest decline over 10 years	-28.93%	-25.42%	-3.51%
Current Drawdown Current decline from peak	-2.61%	-2.56%	-0.05%
Average Drawdown Average peak-to-trough decline	-5.82%	-10.52%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.38%	+0.04%

Volatility

DXJG.L vs. JPNL.L - Volatility Comparison

WisdomTree Japan Equity UCITS ETF JPY Acc (DXJG.L) and Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR (JPNL.L) have volatilities of 5.10% and 5.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXJG.L	JPNL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	5.36%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	14.83%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	17.93%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.34%	15.49%	+5.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	15.81%	+2.75%

DXJG.L vs. JPNL.L - Expense Ratio Comparison

DXJG.L has a 0.40% expense ratio, which is lower than JPNL.L's 0.45% expense ratio.

Dividends

DXJG.L vs. JPNL.L - Dividend Comparison

DXJG.L has not paid dividends to shareholders, while JPNL.L's dividend yield for the trailing twelve months is around 0.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJG.L WisdomTree Japan Equity UCITS ETF JPY Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JPNL.L Lyxor Japan (TOPIX) (DR) UCITS ETF - Dist EUR	0.61%	0.71%	0.73%	1.23%	1.83%	1.37%	1.14%	2.01%	1.84%	1.43%	1.97%	1.77%

Frequently Asked Questions

Can I hold both DXJG.L and JPNL.L in my portfolio?

With a correlation of 0.90, DXJG.L and JPNL.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, DXJG.L or JPNL.L?

On fees, DXJG.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DXJG.L or JPNL.L?

DXJG.L is cheaper with a 0.40% expense ratio, compared with 0.45% for JPNL.L.

What is the main difference between DXJG.L and JPNL.L?

Both ETFs track TOPIX TR JPY. They also come from different issuers: WisdomTree and Amundi. Their fees differ too: 0.40% for DXJG.L and 0.45% for JPNL.L.