MXJP.L vs. DXJP.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco MSCI Japan UCITS ETF (MXJP.L) and WisdomTree Japan Equity UCITS ETF GBP Hedged (DXJP.L).

MXJP.L and DXJP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MXJP.L is a passively managed fund by Invesco that tracks the performance of the TOPIX TR JPY. It was launched on Apr 2, 2009. DXJP.L is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Equity Index (GBP Hedged). It was launched on Mar 9, 2017. Both MXJP.L and DXJP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MXJP.L vs. DXJP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Japan UCITS ETF (MXJP.L) and WisdomTree Japan Equity UCITS ETF GBP Hedged (DXJP.L). The values are adjusted to include any dividend payments, if applicable.

MXJP.L vs. DXJP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXJP.L Invesco MSCI Japan UCITS ETF	7.67%	25.85%	7.21%	20.47%	-17.12%	0.75%	16.23%	18.11%	-13.56%	24.18%
DXJP.L WisdomTree Japan Equity UCITS ETF GBP Hedged	12.38%	43.48%	26.35%	47.75%	-6.42%	15.88%	6.35%	18.81%	-25.06%	32.27%

Different Trading Currencies

MXJP.L is traded in USD, while DXJP.L is traded in GBp. To make them comparable, the DXJP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MXJP.L achieves a 7.67% return, which is significantly lower than DXJP.L's 12.38% return. Over the past 10 years, MXJP.L has underperformed DXJP.L with an annualized return of 9.21%, while DXJP.L has yielded a comparatively higher 15.49% annualized return.

MXJP.L

• 1D: 5.32%
• 1M: -3.28%
• YTD: 7.67%
• 6M: 12.45%
• 1Y: 33.38%
• 3Y*: 17.66%
• 5Y*: 7.50%
• 10Y*: 9.21%

DXJP.L

• 1D: 5.43%
• 1M: -2.76%
• YTD: 12.38%
• 6M: 27.11%
• 1Y: 57.20%
• 3Y*: 38.86%
• 5Y*: 23.37%
• 10Y*: 15.49%

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

MXJP.L vs. DXJP.L - Expense Ratio Comparison

MXJP.L has a 0.19% expense ratio, which is lower than DXJP.L's 0.45% expense ratio.

DXJP.L

WisdomTree Japan Equity UCITS ETF GBP Hedged

MXJP.L

Invesco MSCI Japan UCITS ETF

Return for Risk

MXJP.L vs. DXJP.L — Risk / Return Rank

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

MXJP.L

MXJP.L Risk / Return Rank: 80
MXJP.L Sharpe Ratio Rank: 79
MXJP.L Sortino Ratio Rank: 81
MXJP.L Omega Ratio Rank: 76
MXJP.L Calmar Ratio Rank: 83
MXJP.L Martin Ratio Rank: 80

DXJP.L

DXJP.L Risk / Return Rank: 95
DXJP.L Sharpe Ratio Rank: 94
DXJP.L Sortino Ratio Rank: 94
DXJP.L Omega Ratio Rank: 94
DXJP.L Calmar Ratio Rank: 97
DXJP.L Martin Ratio Rank: 96

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.

MXJP.L vs. DXJP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Japan UCITS ETF (MXJP.L) and WisdomTree Japan Equity UCITS ETF GBP Hedged (DXJP.L). 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.

	MXJP.L	DXJP.L	Difference
Sharpe ratio Return per unit of total volatility	1.56	2.35	-0.79
Sortino ratio Return per unit of downside risk	2.22	2.98	-0.76
Omega ratio Gain probability vs. loss probability	1.30	1.43	-0.13
Calmar ratio Return relative to maximum drawdown	2.69	5.10	-2.41
Martin ratio Return relative to average drawdown	9.76	17.57	-7.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXJP.L vs. DXJP.L - Sharpe Ratio Comparison

The current MXJP.L Sharpe Ratio is 1.56, which is lower than the DXJP.L Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of MXJP.L and DXJP.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MXJP.L	DXJP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	2.35	-0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	1.06	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.67	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.50	-0.03

Correlation

The correlation between MXJP.L and DXJP.L is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MXJP.L vs. DXJP.L - Dividend Comparison

MXJP.L has not paid dividends to shareholders, while DXJP.L's dividend yield for the trailing twelve months is around 1.49%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MXJP.L Invesco MSCI Japan UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DXJP.L WisdomTree Japan Equity UCITS ETF GBP Hedged	1.49%	1.58%	1.61%	1.92%	2.49%	1.62%	1.97%	2.26%	2.41%	1.34%	0.62%

Drawdowns

MXJP.L vs. DXJP.L - Drawdown Comparison

The maximum MXJP.L drawdown since its inception was -32.48%, smaller than the maximum DXJP.L drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for MXJP.L and DXJP.L.

Drawdown Indicators

	MXJP.L	DXJP.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.48%	-41.75%	+9.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.69%	-13.91%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-32.48%	-22.88%	-9.60%
Max Drawdown (10Y) Largest decline over 10 years	-32.48%	-41.75%	+9.27%
Current Drawdown Current decline from peak	-7.24%	-4.46%	-2.78%
Average Drawdown Average peak-to-trough decline	-7.85%	-8.53%	+0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.73%	+0.77%

Volatility

MXJP.L vs. DXJP.L - Volatility Comparison

Invesco MSCI Japan UCITS ETF (MXJP.L) has a higher volatility of 9.70% compared to WisdomTree Japan Equity UCITS ETF GBP Hedged (DXJP.L) at 9.19%. This indicates that MXJP.L's price experiences larger fluctuations and is considered to be riskier than DXJP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXJP.L	DXJP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.70%	9.19%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	15.75%	16.29%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	24.29%	-2.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.93%	21.96%	-4.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	23.20%	-6.03%