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RY.TO vs. JAPN.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RY.TO vs. JAPN.TO

Last updated Jun 5, 2026

RY.TO (Royal Bank of Canada) is a stock, while JAPN.TO (CI WisdomTree Japan Equity Index ETF) is Japan Equities fund tracking the WisdomTree Japan Equity Index CAD. Over the past 5 years, RY.TO returned 20.83%/yr vs 25.69%/yr for JAPN.TO. At a 0.23 correlation, their price movements are largely independent.

Performance

RY.TO vs. JAPN.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Bank of Canada (RY.TO) and CI WisdomTree Japan Equity Index ETF (JAPN.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RY.TO achieves a 17.41% return, which is significantly lower than JAPN.TO's 19.69% return.

RY.TO

1D
1.93%
1M
11.42%
YTD
17.41%
6M
22.61%
1Y
60.20%
3Y*
34.92%
5Y*
20.83%
10Y*
17.44%

JAPN.TO

1D
0.29%
1M
6.06%
YTD
19.69%
6M
22.60%
1Y
53.10%
3Y*
32.10%
5Y*
25.69%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

RY.TO vs. JAPN.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
RY.TO
Royal Bank of Canada		17.41%39.60%34.37%9.80%-1.52%33.09%6.52%14.33%-6.70%
JAPN.TO
CI WisdomTree Japan Equity Index ETF		19.69%30.66%29.25%35.51%10.82%16.05%2.20%16.56%-15.95%

Correlation

The correlation between RY.TO and JAPN.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.31

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

0.24

Correlation (All Time)
Calculated using the full available price history since Aug 9, 2018

0.23

The correlation between RY.TO and JAPN.TO shifts across timeframes, from 0.23 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Royal Bank of Canada

CI WisdomTree Japan Equity Index ETF

Often compared with RY.TO:
RY.TO vs. TD.TORY.TO vs. VDY.TORY.TO vs. BMO.TORY.TO vs. CNR.TORY.TO vs. BNS.TORY.TO vs. XDIV.TORY.TO vs. CM.TO
Often compared with JAPN.TO:
JAPN.TO vs. VOOJAPN.TO vs. VGTJAPN.TO vs. EWTJAPN.TO vs. YCSJAPN.TO vs. DXJJAPN.TO vs. CJP.NEOJAPN.TO vs. DXJS

Return for Risk

RY.TO vs. JAPN.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RY.TO
RY.TO Risk / Return Rank: 9797
Overall Rank
RY.TO Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
RY.TO Sortino Ratio Rank: 9999
Sortino Ratio Rank
RY.TO Omega Ratio Rank: 9898
Omega Ratio Rank
RY.TO Calmar Ratio Rank: 9595
Calmar Ratio Rank
RY.TO Martin Ratio Rank: 9797
Martin Ratio Rank
JAPN.TO
JAPN.TO Risk / Return Rank: 8888
Overall Rank
JAPN.TO Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
JAPN.TO Sortino Ratio Rank: 9090
Sortino Ratio Rank
JAPN.TO Omega Ratio Rank: 8989
Omega Ratio Rank
JAPN.TO Calmar Ratio Rank: 8686
Calmar Ratio Rank
JAPN.TO Martin Ratio Rank: 8686
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.

RY.TO vs. JAPN.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY.TO) and CI WisdomTree Japan Equity Index ETF (JAPN.TO). 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.

RY.TOJAPN.TODifference
Sharpe ratioReturn per unit of total volatility
4.39
2.97

+1.42

Sortino ratioReturn per unit of downside risk
6.29
4.16

+2.14

Omega ratioGain probability vs. loss probability

1.80

1.56

+0.24

Calmar ratioReturn relative to maximum drawdown

7.45

4.81

+2.64

Martin ratioReturn relative to average drawdown

27.64

18.07

+9.56

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RY.TO vs. JAPN.TO - Sharpe Ratio Comparison

The current RY.TO Sharpe Ratio is 4.39, which is higher than the JAPN.TO Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of RY.TO and JAPN.TO, 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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Sharpe Ratios by Period

RY.TOJAPN.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

4.39

2.97

+1.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.40

1.36

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.02

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.93

-0.48

Drawdowns

RY.TO vs. JAPN.TO - Drawdown Comparison

The maximum RY.TO drawdown since its inception was -70.56%, which is greater than JAPN.TO's maximum drawdown of -28.88%. Use the drawdown chart below to compare losses from any high point for RY.TO and JAPN.TO.

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Drawdown Indicators

RY.TOJAPN.TODifference

Max Drawdown

Largest peak-to-trough decline

-70.56%

-28.88%

-41.68%

Max Drawdown (1Y)

Largest decline over 1 year

-8.12%

-11.09%

+2.97%

Max Drawdown (3Y)

Largest decline over 3 years

-16.00%

-21.67%

+5.67%

Max Drawdown (5Y)

Largest decline over 5 years

-21.21%

-21.67%

+0.46%

Max Drawdown (10Y)

Largest decline over 10 years

-33.84%

—

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-20.93%

-6.04%

-14.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.18%

2.95%

-0.77%

Volatility

RY.TO vs. JAPN.TO - Volatility Comparison

Royal Bank of Canada (RY.TO) has a higher volatility of 4.83% compared to CI WisdomTree Japan Equity Index ETF (JAPN.TO) at 3.43%. This indicates that RY.TO's price experiences larger fluctuations and is considered to be riskier than JAPN.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RY.TOJAPN.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.83%

3.43%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

10.68%

13.66%

-2.98%

Volatility (1Y)

Calculated over the trailing 1-year period

13.80%

18.02%

-4.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.94%

18.98%

-4.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.27%

19.67%

-2.40%

Dividends

RY.TO vs. JAPN.TO - Dividend Comparison

RY.TO's dividend yield for the trailing twelve months is around 2.35%, more than JAPN.TO's 2.02% yield.

PositionTTM20252024202320222021202020192018201720162015
JAPN.TO
CI WisdomTree Japan Equity Index ETF		2.02%2.08%1.58%1.51%2.59%1.35%1.36%2.12%0.62%0.00%0.00%0.00%
RY.TO
Royal Bank of Canada		2.35%2.58%3.23%3.99%3.90%3.22%4.10%3.96%4.03%3.39%3.57%4.15%

Frequently Asked Questions

RY.TO and JAPN.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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