EZJ vs. DXJ
Compare and contrast key facts about ProShares Ultra MSCI Japan (EZJ) and WisdomTree Japan Hedged Equity Fund (DXJ).
EZJ and DXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EZJ is a passively managed fund by ProShares that tracks the performance of the MSCI Japan Index (200%). It was launched on Jun 2, 2009. 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 EZJ 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: EZJ or DXJ.
Key characteristics
| EZJ | DXJ | |
|---|---|---|
| YTD Return | 8.39% | 25.66% |
| 1Y Return | 25.86% | 26.98% |
| 3Y Return (Ann) | -6.11% | 24.03% |
| 5Y Return (Ann) | 0.84% | 18.21% |
| 10Y Return (Ann) | 4.72% | 11.53% |
| Sharpe Ratio | 0.76 | 1.37 |
| Sortino Ratio | 1.19 | 1.75 |
| Omega Ratio | 1.15 | 1.26 |
| Calmar Ratio | 0.63 | 1.28 |
| Martin Ratio | 3.04 | 4.58 |
| Ulcer Index | 8.77% | 6.22% |
| Daily Std Dev | 35.08% | 20.83% |
| Max Drawdown | -58.63% | -49.63% |
| Current Drawdown | -27.57% | -6.63% |
Correlation
The correlation between EZJ and DXJ is 0.79, 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
EZJ vs. DXJ - Performance Comparison
In the year-to-date period, EZJ achieves a 8.39% return, which is significantly lower than DXJ's 25.66% return. Over the past 10 years, EZJ has underperformed DXJ with an annualized return of 4.72%, while DXJ has yielded a comparatively higher 11.53% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EZJ vs. DXJ - Expense Ratio Comparison
EZJ has a 0.95% expense ratio, which is higher than DXJ's 0.48% expense ratio.
Risk-Adjusted Performance
EZJ vs. DXJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra MSCI Japan (EZJ) 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
EZJ vs. DXJ - Dividend Comparison
EZJ's dividend yield for the trailing twelve months is around 1.81%, less than DXJ's 2.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZJ ProShares Ultra MSCI Japan | 1.81% | 1.11% | 0.56% | 0.00% | 0.00% | 0.24% | 4.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DXJ WisdomTree Japan Hedged Equity Fund | 2.34% | 3.44% | 3.03% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% | 11.61% | 2.44% |
Drawdowns
EZJ vs. DXJ - Drawdown Comparison
The maximum EZJ drawdown since its inception was -58.63%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for EZJ and DXJ. For additional features, visit the drawdowns tool.
Volatility
EZJ vs. DXJ - Volatility Comparison
ProShares Ultra MSCI Japan (EZJ) has a higher volatility of 9.11% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.95%. This indicates that EZJ's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.