FXY vs. DXJS
FXY (Invesco CurrencyShares® Japanese Yen Trust) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both exchange-traded funds - FXY is a Currency fund tracking the Japanese Yen, while DXJS is a Japan Equities fund tracking the WisdomTree Japan Hedged SmallCap Equity Index. Both are passively managed. At a correlation of -0.41, they often move in opposite directions. FXY charges 0.40%/yr vs 0.58%/yr for DXJS.
Performance
FXY vs. DXJS - Performance Comparison
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Returns By Period
FXY
- 1D
- -0.49%
- 1M
- -1.40%
- 6M
- -2.84%
- YTD
- -3.77%
- 1Y
- -9.61%
- 3Y*
- -5.50%
- 5Y*
- -7.99%
- 10Y*
- -4.73%
DXJS
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXY vs. DXJS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXY Invesco CurrencyShares® Japanese Yen Trust | -3.77% | 0.09% | -10.93% | -7.44% | -12.75% | -10.90% | 4.61% | 0.37% | 2.31% | 3.17% |
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 23.30% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between FXY and DXJS is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | -0.41 |
The correlation between FXY and DXJS shifts across timeframes, from -0.41 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FXY vs. DXJS — Risk / Return Rank
FXY
DXJS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FXY vs. DXJS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco CurrencyShares® Japanese Yen Trust (FXY) and WisdomTree Japan Hedged SmallCap Equity Fund (DXJS). 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.
| FXY | DXJS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.81 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.94 | — | — |
| Martin ratioReturn relative to average drawdown | -1.53 | — | — |
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Drawdowns
FXY vs. DXJS - Drawdown Comparison
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Drawdown Indicators
| FXY | DXJS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.62% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.91% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | — | — |
Current DrawdownCurrent decline from peak | -56.60% | — | — |
Average DrawdownAverage peak-to-trough decline | -27.88% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.28% | — | — |
Volatility
FXY vs. DXJS - Volatility Comparison
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Volatility by Period
| FXY | DXJS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.24% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.18% | — | — |
FXY vs. DXJS - Expense Ratio Comparison
FXY has a 0.40% expense ratio, which is lower than DXJS's 0.58% expense ratio.
Dividends
FXY vs. DXJS - Dividend Comparison
Neither FXY nor DXJS has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 0.53% | 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% |
Frequently Asked Questions
FXY and DXJS have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FXY is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FXY is cheaper with a 0.40% expense ratio, compared with 0.58% for DXJS.
DXJS has the higher dividend yield at 0.53%, compared with 0.00% for FXY.
FXY is categorized as Currency, while DXJS is Japan Equities. FXY tracks Japanese Yen, while DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.40% for FXY and 0.58% for DXJS.
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