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THD vs. DXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

THD vs. DXJ

Last updated Aug 2, 2026
Documentation

THD (iShares MSCI Thailand ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - THD is a Asia Pacific Equities fund tracking the MSCI Thailand Investable Market Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, THD returned 3.01%/yr vs 19.00%/yr for DXJ. Their 0.42 correlation means their historical movements had little consistent relationship. THD charges 0.59%/yr vs 0.48%/yr for DXJ.

Performance

THD vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Thailand ETF (THD) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, THD achieves a 25.29% return, which is significantly higher than DXJ's 21.25% return. Over the past 10 years, THD has underperformed DXJ with an annualized return of 3.01%, while DXJ has yielded a comparatively higher 19.00% annualized return.

THD

1D
1.25%
1M
1.98%
6M
18.37%
YTD
25.29%
1Y
34.86%
3Y*
4.95%
5Y*
3.24%
10Y*
3.01%
ALL TIME*
4.91%

DXJ

1D
-0.73%
1M
-0.63%
6M
14.45%
YTD
21.25%
1Y
49.27%
3Y*
30.10%
5Y*
27.38%
10Y*
19.00%
ALL TIME*
9.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DXJ

WisdomTree Japan Hedged Equity Fund
$66.09M$60.67M$58.46M

THD

iShares MSCI Thailand ETF
$2.19M$2.55M$5.61M

THD vs. DXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
THD
iShares MSCI Thailand ETF		25.29%2.36%-2.21%-12.63%1.22%1.87%-9.89%8.32%-8.25%31.45%
DXJ
WisdomTree Japan Hedged Equity Fund		21.25%32.78%29.83%42.04%5.96%17.99%3.94%18.94%-19.78%22.81%

Correlation

The correlation between THD and DXJ is 0.33, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.33

Correlation (3Y)
Balances recent behavior with more history.

0.25

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.29

Correlation (10Y)
Provides a long-term view across more market conditions.

0.35

Correlation (All Time)
Calculated using the full available price history since Apr 1, 2008

0.42

The correlation between THD and DXJ shifts across timeframes, from 0.25 (3 years) to 0.42 (all time), reflecting how their relationship changes across market environments.

THD vs. DXJ - Sectors Allocation Comparison

Sectors
THD
DXJ

Industrials

30.2%
29.5%

Energy

13.0%
1.7%

Financial Services

11.9%
18.3%

Communication Services

9.8%
2.3%

Consumer Defensive

7.5%
4.7%

Utilities

7.0%
0.1%

Healthcare

6.4%
6.8%

Real Estate

5.2%

-

Consumer Cyclical

5.2%
13.3%

Basic Materials

2.8%
9.1%

Technology

1.3%
12.9%

Industrials

THD
30.2%
DXJ
29.5%

Energy

THD
13.0%
DXJ
1.7%

Financial Services

THD
11.9%
DXJ
18.3%

Communication Services

THD
9.8%
DXJ
2.3%

Consumer Defensive

THD
7.5%
DXJ
4.7%

Utilities

THD
7.0%
DXJ
0.1%

Healthcare

THD
6.4%
DXJ
6.8%

Real Estate

THD
5.2%
DXJ

-

Consumer Cyclical

THD
5.2%
DXJ
13.3%

Basic Materials

THD
2.8%
DXJ
9.1%

Technology

THD
1.3%
DXJ
12.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Thailand ETF

WisdomTree Japan Hedged Equity Fund

Often compared with THD:
THD vs. VOOTHD vs. AAXJTHD vs. GQETXTHD vs. GREKTHD vs. SSOTHD vs. BRAZTHD vs. EPU
Often compared with DXJ:
DXJ vs. EWJDXJ vs. EWJVDXJ vs. DXJSDXJ vs. FLJPDXJ vs. BBJPDXJ vs. VOODXJ vs. DBJP

Return for Risk

THD vs. DXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
THD
THD Risk / Return Rank: 6767
Overall Rank
THD Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
THD Sortino Ratio Rank: 6666
Sortino Ratio Rank
THD Omega Ratio Rank: 6262
Omega Ratio Rank
THD Calmar Ratio Rank: 7575
Calmar Ratio Rank
THD Martin Ratio Rank: 6363
Martin Ratio Rank
DXJ
DXJ Risk / Return Rank: 9393
Overall Rank
DXJ Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9292
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9393
Omega Ratio Rank
DXJ Calmar Ratio Rank: 9292
Calmar Ratio Rank
DXJ Martin Ratio Rank: 9292
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

THD vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Thailand ETF (THD) 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.

THDDXJDifference
Sharpe ratioReturn per unit of total volatility
1.55
2.61

-1.06

Sortino ratioReturn per unit of downside risk
2.17
3.40

-1.23

Omega ratioGain probability vs. loss probability

1.26

1.46

-0.20

Calmar ratioReturn relative to maximum drawdown

2.62

4.30

-1.68

Martin ratioReturn relative to average drawdown

7.53

16.08

-8.54

THD vs. DXJ - Sharpe Ratio Comparison

The current THD Sharpe Ratio is 1.55, which is lower than the DXJ Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of THD 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.

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Drawdowns

THD vs. DXJ - Drawdown Comparison

The maximum THD drawdown since its inception was -64.22%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for THD and DXJ.

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Drawdown Indicators

THDDXJDifference

Max Drawdown

Largest peak-to-trough decline

-64.22%

-49.63%

-14.59%

Max Drawdown (1Y)

Largest decline over 1 year

-13.12%

-10.98%

-2.14%

Max Drawdown (3Y)

Largest decline over 3 years

-34.11%

-22.19%

-11.92%

Max Drawdown (5Y)

Largest decline over 5 years

-40.24%

-22.19%

-18.05%

Max Drawdown (10Y)

Largest decline over 10 years

-49.32%

-39.14%

-10.18%

Current Drawdown

Current decline from peak

-8.00%

-3.40%

-4.60%

Average Drawdown

Average peak-to-trough decline

-18.20%

-14.24%

-3.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.56%

2.93%

+1.63%

Volatility

THD vs. DXJ - Volatility Comparison

The current volatility for iShares MSCI Thailand ETF (THD) is 4.31%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 6.07%. This indicates that THD 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

THDDXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.31%

6.07%

-1.76%

Volatility (6M)

Calculated over the trailing 6-month period

18.26%

14.35%

+3.91%

Volatility (1Y)

Calculated over the trailing 1-year period

22.24%

18.07%

+4.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.01%

19.07%

+0.94%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.57%

19.93%

+1.64%

THD vs. DXJ - Expense Ratio Comparison

THD has a 0.59% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

THD vs. DXJ - Dividend Comparison

THD's dividend yield for the trailing twelve months is around 3.46%, more than DXJ's 0.97% yield.

PositionTTM20252024202320222021202020192018201720162015
DXJ
WisdomTree Japan Hedged Equity Fund		0.97%1.29%3.48%3.44%3.02%2.64%2.53%2.47%2.92%2.30%1.98%5.95%
THD
iShares MSCI Thailand ETF		3.46%3.36%3.15%2.92%2.41%3.16%2.31%2.42%2.57%2.16%2.61%3.58%

Frequently Asked Questions

THD and DXJ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DXJ has higher volatility (6.07%) compared to THD (4.31%). In terms of maximum drawdown, THD dropped -64.22% vs DXJ's -49.63%.

On 10-year performance, DXJ leads with 19.00% vs 3.01% for THD. On fees, DXJ is cheaper at 0.48% per year. On volatility, THD has been the lower-risk option at 4.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DXJ has performed better with a 19.00% return vs 3.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DXJ is cheaper with a 0.48% expense ratio, compared with 0.59% for THD.

THD has the higher dividend yield at 3.46%, compared with 0.97% for DXJ.

THD is categorized as Asia Pacific Equities, while DXJ is Japan Equities. THD tracks MSCI Thailand Investable Market Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for THD and 0.48% for DXJ.

DXJ currently has the higher Sharpe Ratio (2.61 vs 1.55), 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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