EWJ vs. DXJ
Compare and contrast key facts about iShares MSCI Japan ETF (EWJ) and WisdomTree Japan Hedged Equity Fund (DXJ).
EWJ and DXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996. DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006. Both EWJ and DXJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EWJ or DXJ.
Key characteristics
| EWJ | DXJ | |
|---|---|---|
| YTD Return | 4.63% | 23.03% |
| 1Y Return | 17.57% | 53.54% |
| 3Y Return (Ann) | 1.63% | 25.99% |
| 5Y Return (Ann) | 5.51% | 19.18% |
| 10Y Return (Ann) | 5.80% | 13.15% |
| Sharpe Ratio | 1.13 | 3.19 |
| Daily Std Dev | 14.70% | 15.99% |
| Max Drawdown | -58.89% | -49.63% |
| Current Drawdown | -6.57% | -1.16% |
Correlation
The correlation between EWJ and DXJ is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
EWJ vs. DXJ - Performance Comparison
In the year-to-date period, EWJ achieves a 4.63% return, which is significantly lower than DXJ's 23.03% return. Over the past 10 years, EWJ has underperformed DXJ with an annualized return of 5.80%, while DXJ has yielded a comparatively higher 13.15% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
EWJ vs. DXJ - Expense Ratio Comparison
EWJ has a 0.49% expense ratio, which is higher than DXJ's 0.48% expense ratio.
Risk-Adjusted Performance
EWJ vs. DXJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.
Dividends
EWJ vs. DXJ - Dividend Comparison
EWJ's dividend yield for the trailing twelve months is around 1.94%, less than DXJ's 2.51% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 1.94% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% | 1.32% | 1.11% |
DXJ WisdomTree Japan Hedged Equity Fund | 2.51% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% | 11.61% | 2.44% |
Drawdowns
EWJ vs. DXJ - Drawdown Comparison
The maximum EWJ drawdown since its inception was -58.89%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for EWJ and DXJ. For additional features, visit the drawdowns tool.
Volatility
EWJ vs. DXJ - Volatility Comparison
The current volatility for iShares MSCI Japan ETF (EWJ) is 4.07%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 4.51%. This indicates that EWJ experiences smaller price fluctuations and is considered to be less risky than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.