JPYUSD=X vs. DXJ
JPYUSD=X (JPY/USD) is a currency, while DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Over the past 10 years, JPYUSD=X returned -4.25%/yr vs 18.74%/yr for DXJ. At a correlation of -0.40, they often move in opposite directions.
Performance
JPYUSD=X vs. DXJ - Performance Comparison
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Returns By Period
In the year-to-date period, JPYUSD=X achieves a -3.31% return, which is significantly lower than DXJ's 23.40% return. Over the past 10 years, JPYUSD=X has underperformed DXJ with an annualized return of -4.25%, while DXJ has yielded a comparatively higher 18.74% annualized return.
JPYUSD=X
- 1D
- 0.11%
- 1M
- -1.04%
- 6M
- -2.20%
- YTD
- -3.31%
- 1Y
- -8.13%
- 3Y*
- -5.02%
- 5Y*
- -7.44%
- 10Y*
- -4.25%
DXJ
- 1D
- -0.15%
- 1M
- 2.26%
- 6M
- 15.24%
- YTD
- 23.40%
- 1Y
- 55.84%
- 3Y*
- 33.14%
- 5Y*
- 27.73%
- 10Y*
- 18.74%
JPYUSD=X vs. DXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
JPYUSD=X JPY/USD | -3.31% | 0.33% | -10.26% | -7.04% | -12.23% | -10.24% | 5.18% | 0.86% | 2.82% | 3.91% |
DXJ WisdomTree Japan Hedged Equity Fund | 23.40% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
Correlation
The correlation between JPYUSD=X and DXJ is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007 | -0.40 |
The correlation between JPYUSD=X and DXJ shifts across timeframes, from -0.40 (all time) to 0.01 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
JPYUSD=X vs. DXJ — Risk / Return Rank
JPYUSD=X
DXJ
JPYUSD=X vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPY/USD (JPYUSD=X) 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.
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.
| JPYUSD=X | DXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.97 | ||
| Sortino ratioReturn per unit of downside risk | -5.32 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.55 | -0.70 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 5.11 | -5.78 |
| Martin ratioReturn relative to average drawdown | -1.06 | 19.44 | -20.50 |
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Drawdowns
JPYUSD=X vs. DXJ - Drawdown Comparison
The maximum JPYUSD=X drawdown since its inception was -53.20%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for JPYUSD=X and DXJ.
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Drawdown Indicators
| JPYUSD=X | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -49.63% | -3.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.90% | -10.98% | +1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -22.19% | +7.51% |
Max Drawdown (5Y)Largest decline over 5 years | -32.94% | -22.19% | -10.75% |
Max Drawdown (10Y)Largest decline over 10 years | -38.53% | -39.14% | +0.61% |
Current DrawdownCurrent decline from peak | -53.04% | -1.69% | -51.35% |
Average DrawdownAverage peak-to-trough decline | -27.20% | -14.27% | -12.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 2.88% | +3.66% |
Volatility
JPYUSD=X vs. DXJ - Volatility Comparison
The current volatility for JPY/USD (JPYUSD=X) is 1.25%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 6.38%. This indicates that JPYUSD=X 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.
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Volatility by Period
| JPYUSD=X | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 6.38% | -5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.43% | 14.28% | -9.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.34% | 18.29% | -10.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.54% | 19.06% | -9.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.70% | 19.92% | -11.22% |
Frequently Asked Questions
JPYUSD=X and DXJ have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DXJ has higher volatility (6.38%) compared to JPYUSD=X (1.25%). In terms of maximum drawdown, JPYUSD=X dropped -53.20% vs DXJ's -49.63%.
DXJ currently has the higher Sharpe Ratio (3.07 vs -0.90), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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