XDJP.L vs. XUT3.L
XDJP.L (Xtrackers Nikkei 225 UCITS ETF 1D) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both exchange-traded funds - XDJP.L is a Japan Equities fund tracking the TOPIX TR JPY, while XUT3.L is a Government Bonds fund tracking the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 10 years, XDJP.L returned 13.28%/yr vs 1.72%/yr for XUT3.L. At a 0.18 correlation, their price movements are largely independent. XDJP.L charges 0.09%/yr vs 0.06%/yr for XUT3.L.
Performance
XDJP.L vs. XUT3.L - Performance Comparison
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Different Trading Currencies
XDJP.L is traded in GBp, while XUT3.L is traded in USD. To make them comparable, the XUT3.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XDJP.L achieves a 40.54% return, which is significantly higher than XUT3.L's 2.74% return. Over the past 10 years, XDJP.L has outperformed XUT3.L with an annualized return of 13.28%, while XUT3.L has yielded a comparatively lower 1.72% annualized return.
XDJP.L
- 1D
- 2.07%
- 1M
- 9.43%
- YTD
- 40.54%
- 6M
- 40.35%
- 1Y
- 72.07%
- 3Y*
- 25.00%
- 5Y*
- 13.89%
- 10Y*
- 13.28%
XUT3.L
- 1D
- -0.13%
- 1M
- 2.14%
- YTD
- 2.74%
- 6M
- 3.19%
- 1Y
- 6.73%
- 3Y*
- 2.97%
- 5Y*
- 2.95%
- 10Y*
- 1.72%
XDJP.L vs. XUT3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D | 40.54% | 21.04% | 9.68% | 15.52% | -10.26% | -3.79% | 21.77% | 16.59% | -3.53% | 14.74% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.74% | -2.42% | 5.95% | -1.10% | 7.87% | 0.32% | -0.08% | -0.38% | 7.45% | -8.40% |
Correlation
The correlation between XDJP.L and XUT3.L is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2013 | 0.18 |
The correlation between XDJP.L and XUT3.L shifts across timeframes, from -0.15 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XDJP.L vs. XUT3.L — Risk / Return Rank
XDJP.L
XUT3.L
XDJP.L vs. XUT3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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.
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.
| XDJP.L | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.94 | ||
| Sortino ratioReturn per unit of downside risk | +2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.19 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 5.35 | 1.29 | +4.06 |
| Martin ratioReturn relative to average drawdown | 16.00 | 3.51 | +12.48 |
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Drawdowns
XDJP.L vs. XUT3.L - Drawdown Comparison
The maximum XDJP.L drawdown since its inception was -99.99%, which is greater than XUT3.L's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for XDJP.L and XUT3.L.
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Drawdown Indicators
| XDJP.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.99% | -18.58% | -81.41% |
Max Drawdown (1Y)Largest decline over 1 year | -13.40% | -5.21% | -8.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.82% | -9.27% | -9.55% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | -16.72% | -3.89% |
Max Drawdown (10Y)Largest decline over 10 years | -23.69% | -18.58% | -5.11% |
Current DrawdownCurrent decline from peak | -99.96% | -6.38% | -93.58% |
Average DrawdownAverage peak-to-trough decline | -99.40% | -8.04% | -91.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 1.91% | +2.58% |
Volatility
XDJP.L vs. XUT3.L - Volatility Comparison
Xtrackers Nikkei 225 UCITS ETF 1D (XDJP.L) has a higher volatility of 9.38% compared to Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) at 1.50%. This indicates that XDJP.L's price experiences larger fluctuations and is considered to be riskier than XUT3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XDJP.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.38% | 1.50% | +7.88% |
Volatility (6M)Calculated over the trailing 6-month period | 19.49% | 4.93% | +14.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.95% | 6.38% | +17.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 8.21% | +9.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.37% | 8.80% | +8.57% |
XDJP.L vs. XUT3.L - Expense Ratio Comparison
XDJP.L has a 0.09% expense ratio, which is higher than XUT3.L's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XDJP.L vs. XUT3.L - Dividend Comparison
XDJP.L's dividend yield for the trailing twelve months is around 0.97%, less than XUT3.L's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XDJP.L Xtrackers Nikkei 225 UCITS ETF 1D | 0.97% | 1.33% | 1.41% | 1.60% | 2.47% | 1.20% | 1.11% | 1.13% | 1.24% | 0.72% | 0.83% | 0.16% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% | 0.00% | 0.00% |
Frequently Asked Questions
XDJP.L and XUT3.L have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.09% for XDJP.L.
XDJP.L is categorized as Japan Equities, while XUT3.L is Government Bonds. XDJP.L tracks TOPIX TR JPY, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. Their fees differ too: 0.09% for XDJP.L and 0.06% for XUT3.L.
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