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HJPN.AX vs. A200.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HJPN.AX vs. A200.AX

Last updated Jul 16, 2026
Documentation

HJPN.AX (Betashares Japan Currency Hedged ETF) and A200.AX (Betashares Australia 200 ETF) are both exchange-traded funds - HJPN.AX is a Global Equities fund tracking the Betashares Japan Currency Hedged Index, while A200.AX is a fund fund tracking the Solactive Australia 200 Index. Both are passively managed. Over the past 5 years, HJPN.AX returned 19.88%/yr vs 7.10%/yr for A200.AX. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

HJPN.AX vs. A200.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Betashares Japan Currency Hedged ETF (HJPN.AX) and Betashares Australia 200 ETF (A200.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HJPN.AX achieves a 25.87% return, which is significantly higher than A200.AX's 2.54% return.

HJPN.AX

1D
-1.55%
1M
-0.07%
6M
17.25%
YTD
25.87%
1Y
56.07%
3Y*
28.09%
5Y*
19.88%
10Y*
15.57%

A200.AX

1D
0.17%
1M
-0.63%
6M
2.18%
YTD
2.54%
1Y
5.19%
3Y*
9.64%
5Y*
7.10%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HJPN.AX vs. A200.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HJPN.AX
Betashares Japan Currency Hedged ETF		25.87%25.64%24.96%34.17%-13.44%16.18%15.92%16.79%-16.79%
A200.AX
Betashares Australia 200 ETF		2.54%10.31%9.74%10.96%-1.18%17.90%1.16%22.87%-3.83%

Correlation

The correlation between HJPN.AX and A200.AX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.48

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (All Time)
Calculated using the full available price history since May 7, 2018

0.51

The correlation between HJPN.AX and A200.AX has been stable across timeframes, ranging from 0.48 to 0.53 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Betashares Japan Currency Hedged ETF

Betashares Australia 200 ETF

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A200.AX vs. IVVA200.AX vs. DHHF.AXA200.AX vs. VOOA200.AX vs. IOOA200.AX vs. BHPA200.AX vs. VASGXA200.AX vs. VASVX

Return for Risk

HJPN.AX vs. A200.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HJPN.AX
HJPN.AX Risk / Return Rank: 8484
Overall Rank
HJPN.AX Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HJPN.AX Sortino Ratio Rank: 8181
Sortino Ratio Rank
HJPN.AX Omega Ratio Rank: 8181
Omega Ratio Rank
HJPN.AX Calmar Ratio Rank: 9191
Calmar Ratio Rank
HJPN.AX Martin Ratio Rank: 8686
Martin Ratio Rank
A200.AX
A200.AX Risk / Return Rank: 1818
Overall Rank
A200.AX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
A200.AX Sortino Ratio Rank: 1717
Sortino Ratio Rank
A200.AX Omega Ratio Rank: 1717
Omega Ratio Rank
A200.AX Calmar Ratio Rank: 2020
Calmar Ratio Rank
A200.AX Martin Ratio Rank: 1919
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.

HJPN.AX vs. A200.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Betashares Japan Currency Hedged ETF (HJPN.AX) and Betashares Australia 200 ETF (A200.AX). 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.

HJPN.AXA200.AXDifference
Sharpe ratioReturn per unit of total volatility
2.05
0.49

+1.56

Sortino ratioReturn per unit of downside risk
2.91
0.79

+2.12

Omega ratioGain probability vs. loss probability

1.38

1.10

+0.29

Calmar ratioReturn relative to maximum drawdown

4.62

0.70

+3.92

Martin ratioReturn relative to average drawdown

14.24

1.65

+12.58

HJPN.AX vs. A200.AX - Sharpe Ratio Comparison

The current HJPN.AX Sharpe Ratio is 2.05, which is higher than the A200.AX Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of HJPN.AX and A200.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HJPN.AX vs. A200.AX - Drawdown Comparison

The maximum HJPN.AX drawdown since its inception was -36.74%, roughly equal to the maximum A200.AX drawdown of -35.55%. Use the drawdown chart below to compare losses from any high point for HJPN.AX and A200.AX.

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Drawdown Indicators

HJPN.AXA200.AXDifference

Max Drawdown

Largest peak-to-trough decline

-36.74%

-35.55%

-1.19%

Max Drawdown (1Y)

Largest decline over 1 year

-11.86%

-8.40%

-3.46%

Max Drawdown (3Y)

Largest decline over 3 years

-26.71%

-13.22%

-13.49%

Max Drawdown (5Y)

Largest decline over 5 years

-26.71%

-14.79%

-11.92%

Max Drawdown (10Y)

Largest decline over 10 years

-36.74%

—

—

Current Drawdown

Current decline from peak

-4.46%

-2.62%

-1.84%

Average Drawdown

Average peak-to-trough decline

-7.84%

-4.25%

-3.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.87%

3.62%

+0.25%

Volatility

HJPN.AX vs. A200.AX - Volatility Comparison

Betashares Japan Currency Hedged ETF (HJPN.AX) has a higher volatility of 7.36% compared to Betashares Australia 200 ETF (A200.AX) at 2.37%. This indicates that HJPN.AX's price experiences larger fluctuations and is considered to be riskier than A200.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HJPN.AXA200.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.36%

2.37%

+4.99%

Volatility (6M)

Calculated over the trailing 6-month period

19.77%

9.74%

+10.03%

Volatility (1Y)

Calculated over the trailing 1-year period

26.67%

11.99%

+14.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.80%

12.62%

+11.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.99%

15.17%

+5.82%

Dividends

HJPN.AX vs. A200.AX - Dividend Comparison

HJPN.AX's dividend yield for the trailing twelve months is around 5.93%, more than A200.AX's 2.51% yield.

PositionTTM2025202420232022202120202019201820172016
A200.AX
Betashares Australia 200 ETF		2.51%3.33%1.57%2.89%5.68%2.98%2.54%3.61%1.40%0.00%0.00%
HJPN.AX
Betashares Japan Currency Hedged ETF		5.93%0.00%5.68%3.06%8.35%5.39%0.00%0.37%2.46%1.47%0.11%

Frequently Asked Questions

HJPN.AX and A200.AX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HJPN.AX tracks Betashares Japan Currency Hedged Index, while A200.AX tracks Solactive Australia 200 Index.

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