KD vs. DXJ

Last updated Jul 17, 2026

KD (Kyndryl Holdings, Inc.) is a stock, while DXJ (WisdomTree Japan Hedged Equity Fund) is Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Over the past 3 years, KD returned -1.97%/yr vs 32.87%/yr for DXJ. At a 0.30 correlation, their price movements are largely independent.

Performance

KD vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kyndryl Holdings, Inc. (KD) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KD achieves a -54.74% return, which is significantly lower than DXJ's 22.45% return.

KD

• 1D: 2.56%
• 1M: -0.08%
• 6M: -55.56%
• YTD: -54.74%
• 1Y: -69.07%
• 3Y*: -1.97%
• 5Y*: —
• 10Y*: —

DXJ

• 1D: -0.77%
• 1M: 1.23%
• 6M: 13.56%
• YTD: 22.45%
• 1Y: 55.16%
• 3Y*: 32.87%
• 5Y*: 27.54%
• 10Y*: 18.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

KD vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
KD Kyndryl Holdings, Inc.	-54.74%	-23.24%	66.51%	86.87%	-38.56%	-63.80%
DXJ WisdomTree Japan Hedged Equity Fund	22.45%	32.78%	29.83%	42.04%	5.96%	1.58%

Correlation

The correlation between KD and DXJ is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Oct 22, 2021	0.30

Over the past year, the correlation between KD and DXJ has dropped to 0.04 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

KD vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KD

KD Risk / Return Rank: 7
KD Sharpe Ratio Rank: 6
KD Sortino Ratio Rank: 10
KD Omega Ratio Rank: 4
KD Calmar Ratio Rank: 5
KD Martin Ratio Rank: 9

DXJ

DXJ Risk / Return Rank: 94
DXJ Sharpe Ratio Rank: 95
DXJ Sortino Ratio Rank: 94
DXJ Omega Ratio Rank: 94
DXJ Calmar Ratio Rank: 93
DXJ Martin Ratio Rank: 93

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.

KD vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kyndryl Holdings, Inc. (KD) 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.

	KD	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	3.03	-3.97
Sortino ratio: Return per unit of downside risk	-1.20	3.94	-5.14
Omega ratio: Gain probability vs. loss probability	0.76	1.54	-0.78
Calmar ratio: Return relative to maximum drawdown	-0.95	5.05	-5.99
Martin ratio: Return relative to average drawdown	-1.38	19.17	-20.55

KD vs. DXJ - Sharpe Ratio Comparison

The current KD Sharpe Ratio is -0.94, which is lower than the DXJ Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of KD and DXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KD vs. DXJ - Drawdown Comparison

The maximum KD drawdown since its inception was -83.54%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for KD and DXJ.

Drawdown Indicators

	KD	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-83.54%	-49.63%	-33.91%
Max Drawdown (1Y) Largest decline over 1 year	-73.17%	-10.98%	-62.19%
Max Drawdown (3Y) Largest decline over 3 years	-75.63%	-22.19%	-53.44%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.14%	—
Current Drawdown Current decline from peak	-75.96%	-2.45%	-73.51%
Average Drawdown Average peak-to-trough decline	-58.89%	-14.27%	-44.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.96%	2.89%	+47.07%

Volatility

KD vs. DXJ - Volatility Comparison

Kyndryl Holdings, Inc. (KD) has a higher volatility of 15.41% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.26%. This indicates that KD'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.

Volatility by Period

	KD	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.41%	6.26%	+9.15%
Volatility (6M) Calculated over the trailing 6-month period	88.97%	14.30%	+74.67%
Volatility (1Y) Calculated over the trailing 1-year period	73.93%	18.31%	+55.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.94%	19.05%	+39.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.94%	19.92%	+39.02%

Dividends

KD vs. DXJ - Dividend Comparison

KD has not paid dividends to shareholders, while DXJ's dividend yield for the trailing twelve months is around 0.96%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	0.96%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
KD Kyndryl Holdings, Inc.	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

Can I hold both KD and DXJ in my portfolio?

KD and DXJ have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KD or DXJ?

KD has higher volatility (15.41%) compared to DXJ (6.26%). In terms of maximum drawdown, KD dropped -83.54% vs DXJ's -49.63%.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.03 vs -0.94), 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.