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VUL.AX vs. EWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VUL.AX vs. EWJ

Last updated Jun 5, 2026

VUL.AX (Vulcan Energy Resources Limited) is a stock, while EWJ (iShares MSCI Japan ETF) is Japan Equities fund tracking the MSCI Japan Index. Over the past 5 years, VUL.AX returned -15.48%/yr vs 10.71%/yr for EWJ. At a 0.03 correlation, their price movements are largely independent.

Performance

VUL.AX vs. EWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vulcan Energy Resources Limited (VUL.AX) and iShares MSCI Japan ETF (EWJ). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

VUL.AX is traded in AUD, while EWJ is traded in USD. To make them comparable, the EWJ values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, VUL.AX achieves a -20.41% return, which is significantly lower than EWJ's 9.44% return.

VUL.AX

1D
-8.59%
1M
-4.10%
YTD
-20.41%
6M
-14.39%
1Y
-9.54%
3Y*
-2.35%
5Y*
-15.48%
10Y*
—

EWJ

1D
0.50%
1M
6.56%
YTD
9.44%
6M
8.58%
1Y
21.31%
3Y*
15.72%
5Y*
10.71%
10Y*
9.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VUL.AX vs. EWJ - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VUL.AX
Vulcan Energy Resources Limited		-20.41%-17.57%87.72%-54.98%-39.13%276.81%1,680.65%-16.22%-35.09%
EWJ
iShares MSCI Japan ETF		9.44%16.70%17.81%20.38%-12.29%7.09%5.27%19.89%-8.03%

Correlation

The correlation between VUL.AX and EWJ is -0.01, 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

-0.01

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

-0.01

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

0.00

Correlation (All Time)
Calculated using the full available price history since May 31, 2018

0.03

Compare stocks, funds, or ETFs

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

Vulcan Energy Resources Limited

iShares MSCI Japan ETF

Often compared with VUL.AX:
VUL.AX vs. PNI.AXVUL.AX vs. SU.PAVUL.AX vs. CBAPJ.AXVUL.AX vs. CASH.TOVUL.AX vs. GOLD.ASVUL.AX vs. AIAVUL.AX vs. FEZ
Often compared with EWJ:
EWJ vs. DXJEWJ vs. ^N225EWJ vs. EWJVEWJ vs. EWYEWJ vs. FLJPEWJ vs. HEWJEWJ vs. JPXN

Return for Risk

VUL.AX vs. EWJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VUL.AX
VUL.AX Risk / Return Rank: 3737
Overall Rank
VUL.AX Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
VUL.AX Sortino Ratio Rank: 3838
Sortino Ratio Rank
VUL.AX Omega Ratio Rank: 3737
Omega Ratio Rank
VUL.AX Calmar Ratio Rank: 3636
Calmar Ratio Rank
VUL.AX Martin Ratio Rank: 3737
Martin Ratio Rank
EWJ
EWJ Risk / Return Rank: 5151
Overall Rank
EWJ Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
EWJ Sortino Ratio Rank: 5151
Sortino Ratio Rank
EWJ Omega Ratio Rank: 5252
Omega Ratio Rank
EWJ Calmar Ratio Rank: 5050
Calmar Ratio Rank
EWJ Martin Ratio Rank: 5050
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.

VUL.AX vs. EWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vulcan Energy Resources Limited (VUL.AX) and iShares MSCI Japan ETF (EWJ). 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.

VUL.AXEWJDifference
Sharpe ratioReturn per unit of total volatility
-0.13
1.32

-1.45

Sortino ratioReturn per unit of downside risk
0.32
1.98

-1.66

Omega ratioGain probability vs. loss probability

1.04

1.25

-0.21

Calmar ratioReturn relative to maximum drawdown

-0.15

1.67

-1.82

Martin ratioReturn relative to average drawdown

-0.26

5.33

-5.60

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

VUL.AX vs. EWJ - Sharpe Ratio Comparison

The current VUL.AX Sharpe Ratio is -0.13, which is lower than the EWJ Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of VUL.AX and EWJ, 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

VUL.AXEWJDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.13

1.32

-1.45

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.22

0.71

-0.93

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.65

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

0.31

+0.14

Drawdowns

VUL.AX vs. EWJ - Drawdown Comparison

The maximum VUL.AX drawdown since its inception was -87.55%, which is greater than EWJ's maximum drawdown of -46.86%. Use the drawdown chart below to compare losses from any high point for VUL.AX and EWJ.

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Drawdown Indicators

VUL.AXEWJDifference

Max Drawdown

Largest peak-to-trough decline

-87.55%

-46.86%

-40.69%

Max Drawdown (1Y)

Largest decline over 1 year

-61.57%

-12.85%

-48.72%

Max Drawdown (3Y)

Largest decline over 3 years

-64.50%

-12.85%

-51.65%

Max Drawdown (5Y)

Largest decline over 5 years

-87.55%

-24.61%

-62.94%

Max Drawdown (10Y)

Largest decline over 10 years

—

-24.61%

—

Current Drawdown

Current decline from peak

-77.92%

-0.21%

-77.71%

Average Drawdown

Average peak-to-trough decline

-49.31%

-15.00%

-34.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

36.36%

4.01%

+32.35%

Volatility

VUL.AX vs. EWJ - Volatility Comparison

Vulcan Energy Resources Limited (VUL.AX) has a higher volatility of 16.92% compared to iShares MSCI Japan ETF (EWJ) at 2.65%. This indicates that VUL.AX's price experiences larger fluctuations and is considered to be riskier than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VUL.AXEWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.92%

2.65%

+14.27%

Volatility (6M)

Calculated over the trailing 6-month period

46.96%

12.49%

+34.47%

Volatility (1Y)

Calculated over the trailing 1-year period

71.76%

16.27%

+55.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

70.56%

15.10%

+55.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

81.20%

14.96%

+66.24%

Dividends

VUL.AX vs. EWJ - Dividend Comparison

VUL.AX has not paid dividends to shareholders, while EWJ's dividend yield for the trailing twelve months is around 3.88%.

PositionTTM20252024202320222021202020192018201720162015
EWJ
iShares MSCI Japan ETF		3.88%4.52%2.34%2.03%1.23%2.08%1.04%2.03%1.71%1.25%1.95%1.27%
VUL.AX
Vulcan Energy Resources Limited		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

VUL.AX and EWJ have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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