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VJPN.L vs. DXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VJPN.L vs. DXJ

Last updated Apr 9, 2026

VJPN.L (Vanguard FTSE Japan UCITS ETF Distributing) and DXJ (WisdomTree Japan Hedged Equity Fund) are both Japan Equities funds — VJPN.L tracks the TOPIX TR JPY while DXJ tracks the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, VJPN.L returned 10.16%/yr vs 18.79%/yr for DXJ. A 0.69 correlation means they provide meaningful diversification when combined. VJPN.L charges 0.15%/yr vs 0.48%/yr for DXJ.

Performance

VJPN.L vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VJPN.L is traded in GBP, while DXJ is traded in USD. To make them comparable, the DXJ values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VJPN.L achieves a 6.38% return, which is significantly lower than DXJ's 16.79% return. Over the past 10 years, VJPN.L has underperformed DXJ with an annualized return of 10.16%, while DXJ has yielded a comparatively higher 18.79% annualized return.

VJPN.L

1D
-1.00%
1M
1.54%
YTD
6.38%
6M
9.25%
1Y
35.13%
3Y*
15.35%
5Y*
8.27%
10Y*
10.16%

DXJ

1D
3.23%
1M
6.60%
YTD
16.79%
6M
25.96%
1Y
69.33%
3Y*
34.43%
5Y*
26.41%
10Y*
18.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VJPN.L vs. DXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VJPN.L
Vanguard FTSE Japan UCITS ETF Distributing		6.38%18.86%9.05%14.00%-5.70%2.26%12.84%14.56%-8.37%14.72%
DXJ
WisdomTree Japan Hedged Equity Fund		16.79%23.32%32.10%34.94%18.56%19.11%0.89%14.42%-15.03%12.19%

Correlation

The correlation between VJPN.L and DXJ is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

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

0.67

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

0.67

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

0.61

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2013

0.69

VJPN.L vs. DXJ - Expense Ratio Comparison

VJPN.L has a 0.15% expense ratio, which is lower than DXJ's 0.48% expense ratio.

DXJ
WisdomTree Japan Hedged Equity Fund
VJPN.L
Vanguard FTSE Japan UCITS ETF Distributing

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Vanguard FTSE Japan UCITS ETF Distributing

WisdomTree Japan Hedged Equity Fund

Often compared with VJPN.L:
VJPN.L vs. XDJP.LVJPN.L vs. VJPN.DEVJPN.L vs. EEJG.LVJPN.L vs. LGJG.LVJPN.L vs. JEMAVJPN.L vs. VUSA.LVJPN.L vs. VOO
Often compared with DXJ:
DXJ vs. EWJDXJ vs. EWJVDXJ vs. DXJSDXJ vs. FLJPDXJ vs. DBJPDXJ vs. VOODXJ vs. SCHD

Return for Risk

VJPN.L vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VJPN.L
VJPN.L Risk / Return Rank: 6464
Overall Rank
VJPN.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VJPN.L Sortino Ratio Rank: 5959
Sortino Ratio Rank
VJPN.L Omega Ratio Rank: 6262
Omega Ratio Rank
VJPN.L Calmar Ratio Rank: 6868
Calmar Ratio Rank
VJPN.L Martin Ratio Rank: 6666
Martin Ratio Rank
DXJ
DXJ Risk / Return Rank: 9595
Overall Rank
DXJ Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9595
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9494
Omega Ratio Rank
DXJ Calmar Ratio Rank: 9696
Calmar Ratio Rank
DXJ Martin Ratio Rank: 9696
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.

VJPN.L vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) 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.

VJPN.LDXJDifference

Sharpe ratio

Return per unit of total volatility

2.23

3.18

-0.96

Sortino ratio

Return per unit of downside risk

3.11

4.06

-0.95

Omega ratio

Gain probability vs. loss probability

1.43

1.59

-0.17

Calmar ratio

Return relative to maximum drawdown

3.67

7.13

-3.45

Martin ratio

Return relative to average drawdown

13.26

24.64

-11.38

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

VJPN.L vs. DXJ - Sharpe Ratio Comparison

The current VJPN.L Sharpe Ratio is 2.23, which is lower than the DXJ Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of VJPN.L 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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Sharpe Ratios by Period

VJPN.LDXJDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.23

3.18

-0.96

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

1.37

-0.83

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.88

-0.25

Sharpe Ratio (All Time)

Calculated using the full available price history

0.59

0.51

+0.08

Drawdowns

VJPN.L vs. DXJ - Drawdown Comparison

The maximum VJPN.L drawdown since its inception was -25.19%, smaller than the maximum DXJ drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for VJPN.L and DXJ.

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Drawdown Indicators

VJPN.LDXJDifference

Max Drawdown

Largest peak-to-trough decline

-25.19%

-49.63%

+24.44%

Max Drawdown (1Y)

Largest decline over 1 year

-10.68%

-10.98%

+0.30%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-22.19%

+4.28%

Max Drawdown (10Y)

Largest decline over 10 years

-25.19%

-39.14%

+13.95%

Current Drawdown

Current decline from peak

-7.58%

-1.66%

-5.92%

Average Drawdown

Average peak-to-trough decline

-5.28%

-14.43%

+9.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.96%

2.65%

+0.31%

Volatility

VJPN.L vs. DXJ - Volatility Comparison

Vanguard FTSE Japan UCITS ETF Distributing (VJPN.L) has a higher volatility of 8.36% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.91%. This indicates that VJPN.L'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.

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Volatility by Period

VJPN.LDXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.36%

6.91%

+1.45%

Volatility (6M)

Calculated over the trailing 6-month period

14.34%

13.99%

+0.35%

Volatility (1Y)

Calculated over the trailing 1-year period

18.28%

22.04%

-3.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.43%

19.38%

-3.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.90%

21.34%

-5.44%

Dividends

VJPN.L vs. DXJ - Dividend Comparison

VJPN.L's dividend yield for the trailing twelve months is around 2.44%, more than DXJ's 1.11% yield.

TTM20252024202320222021202020192018201720162015
VJPN.L
Vanguard FTSE Japan UCITS ETF Distributing		2.44%2.54%2.47%2.39%2.64%2.31%2.14%2.36%2.55%1.94%2.04%2.08%
DXJ
WisdomTree Japan Hedged Equity Fund		1.11%1.29%3.48%3.44%3.02%2.64%2.53%2.47%2.92%2.30%1.98%5.95%