MLPX vs. DXJ

Last updated Jun 14, 2026

MLPX (Global X MLP & Energy Infrastructure ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - MLPX is a MLPs fund tracking the Solactive MLP & Energy Infrastructure Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, MLPX returned 12.72%/yr vs 18.72%/yr for DXJ. At a 0.41 correlation, their price movements are largely independent. MLPX charges 0.45%/yr vs 0.48%/yr for DXJ.

Performance

MLPX vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure ETF (MLPX) 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, MLPX achieves a 25.23% return, which is significantly higher than DXJ's 18.74% return. Over the past 10 years, MLPX has underperformed DXJ with an annualized return of 12.72%, while DXJ has yielded a comparatively higher 18.72% annualized return.

MLPX

• 1D: 0.30%
• 1M: -1.75%
• YTD: 25.23%
• 6M: 25.77%
• 1Y: 24.35%
• 3Y*: 28.72%
• 5Y*: 20.50%
• 10Y*: 12.72%

DXJ

• 1D: 0.74%
• 1M: -0.37%
• YTD: 18.74%
• 6M: 19.84%
• 1Y: 54.41%
• 3Y*: 30.91%
• 5Y*: 26.01%
• 10Y*: 18.72%

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

MLPX vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPX Global X MLP & Energy Infrastructure ETF	25.23%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%
DXJ WisdomTree Japan Hedged Equity Fund	18.74%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Correlation

The correlation between MLPX 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	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013	0.41

Over the past year, the correlation between MLPX and DXJ has dropped to 0.04 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

MLPX vs. DXJ - Sectors Allocation Comparison

Sectors	MLPX	DXJ
Energy	99.6%	1.7%
Utilities	0.3%	0.1%
Basic Materials	-	8.5%
Communication Services	-	2.7%
Consumer Cyclical	-	15.6%
Consumer Defensive	-	4.7%
Financial Services	-	18.3%
Healthcare	-	6.8%
Industrials	-	27.4%
Real Estate	-	-
Technology	-	12.9%

Return for Risk

MLPX vs. DXJ — Risk / Return Rank

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

MLPX

MLPX Risk / Return Rank: 56
MLPX Sharpe Ratio Rank: 56
MLPX Sortino Ratio Rank: 54
MLPX Omega Ratio Rank: 51
MLPX Calmar Ratio Rank: 70
MLPX Martin Ratio Rank: 51

DXJ

DXJ Risk / Return Rank: 92
DXJ Sharpe Ratio Rank: 93
DXJ Sortino Ratio Rank: 93
DXJ Omega Ratio Rank: 92
DXJ Calmar Ratio Rank: 90
DXJ Martin Ratio Rank: 91

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.

MLPX vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure ETF (MLPX) 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.

	MLPX	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.65	3.02	-1.37
Sortino ratio: Return per unit of downside risk	2.30	4.04	-1.74
Omega ratio: Gain probability vs. loss probability	1.28	1.54	-0.26
Calmar ratio: Return relative to maximum drawdown	3.07	4.88	-1.81
Martin ratio: Return relative to average drawdown	7.67	18.93	-11.26

MLPX vs. DXJ - Sharpe Ratio Comparison

The current MLPX Sharpe Ratio is 1.65, which is lower than the DXJ Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of MLPX 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

MLPX vs. DXJ - Drawdown Comparison

The maximum MLPX drawdown since its inception was -70.67%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for MLPX and DXJ.

Drawdown Indicators

	MLPX	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-49.63%	-21.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-10.98%	+2.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-22.19%	+5.42%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-22.19%	+2.47%
Max Drawdown (10Y) Largest decline over 10 years	-64.70%	-39.14%	-25.56%
Current Drawdown Current decline from peak	-4.43%	-1.34%	-3.09%
Average Drawdown Average peak-to-trough decline	-16.60%	-14.32%	-2.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.83%	+0.43%

Volatility

MLPX vs. DXJ - Volatility Comparison

Global X MLP & Energy Infrastructure ETF (MLPX) has a higher volatility of 5.77% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.64%. This indicates that MLPX'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

	MLPX	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	4.64%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	11.69%	13.56%	-1.87%
Volatility (1Y) Calculated over the trailing 1-year period	15.23%	17.73%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.08%	19.02%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.48%	20.17%	+6.31%

MLPX vs. DXJ - Expense Ratio Comparison

MLPX has a 0.45% expense ratio, which is lower than DXJ's 0.48% expense ratio.

Dividends

MLPX vs. DXJ - Dividend Comparison

MLPX's dividend yield for the trailing twelve months is around 4.10%, more than DXJ's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.09%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
MLPX Global X MLP & Energy Infrastructure ETF	4.10%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both MLPX and DXJ in my portfolio?

MLPX 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, MLPX or DXJ?

MLPX has higher volatility (5.77%) compared to DXJ (4.64%). In terms of maximum drawdown, MLPX dropped -70.67% vs DXJ's -49.63%.

Which ETF is better, MLPX or DXJ?

On 10-year performance, DXJ leads with 18.72% vs 12.72% for MLPX. On fees, MLPX is cheaper at 0.45% per year. On volatility, DXJ has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPX or DXJ?

Over the 10-year period, DXJ has performed better with a 18.72% return vs 12.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPX or DXJ?

MLPX is cheaper with a 0.45% expense ratio, compared with 0.48% for DXJ.

Which ETF pays a higher dividend yield, MLPX or DXJ?

MLPX has the higher dividend yield at 4.10%, compared with 1.09% for DXJ.

What is the main difference between MLPX and DXJ?

MLPX is categorized as MLPs, while DXJ is Japan Equities. MLPX tracks Solactive MLP & Energy Infrastructure Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: Global X and WisdomTree. Their fees differ too: 0.45% for MLPX and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.02 vs 1.65), 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.