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DXJS vs. FXY
Performance
Return for Risk
Dividends
Drawdowns
Volatility

DXJS vs. FXY

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and Invesco CurrencyShares® Japanese Yen Trust (FXY).

DXJS and FXY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DXJS is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged SmallCap Equity Index. It was launched on Jun 28, 2013. FXY is a passively managed fund by Invesco that tracks the performance of the Japanese Yen. It was launched on Feb 12, 2007. Both DXJS and FXY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DXJS vs. FXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and Invesco CurrencyShares® Japanese Yen Trust (FXY). The values are adjusted to include any dividend payments, if applicable.

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DXJS vs. FXY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DXJS
WisdomTree Japan Hedged SmallCap Equity Fund		17.27%37.08%20.70%38.96%5.02%11.66%-3.22%18.24%-18.69%29.56%
FXY
Invesco CurrencyShares® Japanese Yen Trust		-1.35%0.09%-10.93%-7.44%-12.75%-10.90%4.61%0.37%2.31%3.17%

Returns By Period

In the year-to-date period, DXJS achieves a 17.27% return, which is significantly higher than FXY's -1.35% return. Over the past 10 years, DXJS has outperformed FXY with an annualized return of 16.61%, while FXY has yielded a comparatively lower -3.96% annualized return.

DXJS

1D
2.03%
1M
-5.12%
YTD
17.27%
6M
31.32%
1Y
58.83%
3Y*
34.47%
5Y*
22.94%
10Y*
16.61%

FXY

1D
0.64%
1M
-1.61%
YTD
-1.35%
6M
-6.96%
1Y
-5.89%
3Y*
-6.20%
5Y*
-7.45%
10Y*
-3.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Japan Hedged SmallCap Equity Fund

Invesco CurrencyShares® Japanese Yen Trust

Often compared with DXJS:
DXJS vs. DXJDXJS vs. DFJDXJS vs. FJSCXDXJS vs. GSJYDXJS vs. SHDXJS vs. AVDVDXJS vs. PRIJ.L
Often compared with FXY:
FXY vs. YCLFXY vs. SPYFXY vs. FXEFXY vs. EWJFXY vs. QQQFXY vs. SCHDFXY vs. IEF

DXJS vs. FXY - Expense Ratio Comparison

DXJS has a 0.58% expense ratio, which is higher than FXY's 0.40% expense ratio.

DXJS
WisdomTree Japan Hedged SmallCap Equity Fund
FXY
Invesco CurrencyShares® Japanese Yen Trust

Return for Risk

DXJS vs. FXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DXJS
DXJS Risk / Return Rank: 9797
Overall Rank
DXJS Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
DXJS Sortino Ratio Rank: 9797
Sortino Ratio Rank
DXJS Omega Ratio Rank: 9696
Omega Ratio Rank
DXJS Calmar Ratio Rank: 9797
Calmar Ratio Rank
DXJS Martin Ratio Rank: 9797
Martin Ratio Rank
FXY
FXY Risk / Return Rank: 44
Overall Rank
FXY Sharpe Ratio Rank: 33
Sharpe Ratio Rank
FXY Sortino Ratio Rank: 33
Sortino Ratio Rank
FXY Omega Ratio Rank: 33
Omega Ratio Rank
FXY Calmar Ratio Rank: 44
Calmar Ratio Rank
FXY Martin Ratio Rank: 66
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.

DXJS vs. FXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and Invesco CurrencyShares® Japanese Yen Trust (FXY). 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.

DXJSFXYDifference

Sharpe ratio

Return per unit of total volatility

2.81

-0.58

+3.39

Sortino ratio

Return per unit of downside risk

3.53

-0.78

+4.30

Omega ratio

Gain probability vs. loss probability

1.48

0.91

+0.57

Calmar ratio

Return relative to maximum drawdown

4.69

-0.48

+5.17

Martin ratio

Return relative to average drawdown

19.87

-0.80

+20.67

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXJS vs. FXY - Sharpe Ratio Comparison

The current DXJS Sharpe Ratio is 2.81, which is higher than the FXY Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of DXJS and FXY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

DXJSFXYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.81

-0.58

+3.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.29

-0.73

+2.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.84

-0.42

+1.26

Sharpe Ratio (All Time)

Calculated using the full available price history

0.74

-0.18

+0.92

Correlation

The correlation between DXJS and FXY is -0.42. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

DXJS vs. FXY - Dividend Comparison

DXJS's dividend yield for the trailing twelve months is around 1.62%, while FXY has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
DXJS
WisdomTree Japan Hedged SmallCap Equity Fund		1.62%1.78%4.02%2.71%2.63%2.96%3.04%2.17%2.06%1.53%1.66%3.61%
FXY
Invesco CurrencyShares® Japanese Yen Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

DXJS vs. FXY - Drawdown Comparison

The maximum DXJS drawdown since its inception was -39.30%, smaller than the maximum FXY drawdown of -56.03%. Use the drawdown chart below to compare losses from any high point for DXJS and FXY.

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Drawdown Indicators

DXJSFXYDifference

Max Drawdown

Largest peak-to-trough decline

-39.30%

-56.03%

+16.73%

Max Drawdown (1Y)

Largest decline over 1 year

-11.47%

-12.45%

+0.98%

Max Drawdown (5Y)

Largest decline over 5 years

-16.49%

-34.49%

+18.00%

Max Drawdown (10Y)

Largest decline over 10 years

-39.30%

-40.84%

+1.54%

Current Drawdown

Current decline from peak

-5.55%

-55.51%

+49.96%

Average Drawdown

Average peak-to-trough decline

-6.54%

-27.48%

+20.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

7.46%

-4.57%

Volatility

DXJS vs. FXY - Volatility Comparison

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) has a higher volatility of 7.98% compared to Invesco CurrencyShares® Japanese Yen Trust (FXY) at 2.33%. This indicates that DXJS's price experiences larger fluctuations and is considered to be riskier than FXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DXJSFXYDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.98%

2.33%

+5.65%

Volatility (6M)

Calculated over the trailing 6-month period

15.20%

6.09%

+9.11%

Volatility (1Y)

Calculated over the trailing 1-year period

21.06%

10.25%

+10.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.83%

10.20%

+7.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.88%

9.47%

+10.41%