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Xtrackers Msci Japan UCITS ETF 2d Usd HedgedIndex, costs, backtest, listings and taxation

ISIN: LU0927735406Issuer: XtrackersCurrency hedging: USD-hedged share class
Issuer-declared data
Declared index
MSCI Total Return Net Japan Index (USD)
TER
0.40%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
7.5 bn EUR
Domicile
Luxembourg
Inception date
10 June 2013
Data as declared by Xtrackers in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Xtrackers Msci Japan UCITS ETF 2d Usd Hedged tracks the issuer-declared index: MSCI Total Return Net Japan Index (USD). Mind the share class: this is the version hedged to USD — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.40%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is physical replication (the KID declares buying all or a substantial number of the index constituents); income is distributed to investors. The fund has assets of about 7.5 billion euro, was launched on 10 June 2013 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 2 ETFs declaring the same index.

The fund’s objective — in the issuer’s words

The fund is passively managed.

INVESTMENT OBJECTIVE:The aim is for your investment to reflect the performance of the MSCI Total Return Net Japan index (index), while seeking to minimise foreign currency fluctuations at share class level.

DESCRIPTION OF INDEX:The index is designed to reflect the performance of the listed shares of certain companies from Japan, the shares in the index being denominated in Japanese Yen.

Keep reading the KID section ▾

The companies making up the index are large and medium sized companies based on the combined value of a company’s readily available shares as compared to other companies. A company’s weighting in the index depends on its relative size.

INDEX REBALANCING, CALCULATION AND ADMINISTRATION:The index is calculated on a total return net basis which means that all dividends and distributions by the companies are reinvested in the shares after tax. The index is reviewed and rebalanced at least quarterly.

INVESTMENT POLICY:To achieve the aim, the fund will i) attempt to replicate the index, before fees and expenses, by buying all or a substantial number of the securities in the index and ii) enter into financial contracts (derivatives) which attempt to reduce the effect of exchange rate fluctuations between the currency of the fund's assets and the currency of your shares. The fund may employ techniques and instruments in order to manage risk, reduce costs and improve results. These techniques and instruments may include the use of derivatives. The fund may also engage in secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the fund. FURTHER INFORMATION: Certain information (including the latest share prices of the fund, indicative net asset values, full disclosure on the composition of the fund's portfolio and information on the index constituents) are available on your local DWS website or at www.Xtrackers.com. Transaction costs and taxes, unexpected fund costs and market conditions such as volatility or liquidity issues may affect the ability of the fund to track the index. The anticipated level of tracking error in normal market conditions is 1 per cent. The currency of the fund is JPY. The fund distributes up to four times per annum. You may request the redemption of shares generally on a daily basis.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.40%: above the median of equity ETFs we track (0.22%).
  • Assets larger than 94% of equity ETFs we track.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Jun 2013 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+442.6%
Annualised
+13.6%
Volatility (ann.)
19.6%
Max drawdown
-30.25%
-10%+112%+234%+356%+478%Jun 2013Nov 2016Mar 2020Jul 2023Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+443%Jun 2013Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%2013201520172019202120232025−30.25% · 12 Feb 2016
Max drawdown
-30.25%
peak → trough
Trough
12 Feb 2016
from the 01 Jun 2015 peak
Recovery time
599 days
recovery only: trough to break-even · ≈ 1 year and 8 months
Underwater
855 days
decline + recovery: peak to break-even · ≈ 2 years and 4 months · → recovered on 03 Oct 2017

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
01 Jun 201512 Feb 2016-30.25%03 Oct 2017855
20 Jan 202016 Mar 2020-28.98%11 Nov 2020296
11 Jul 202405 Aug 2024-26.49%27 Jun 2025351
23 Jan 201804 Jan 2019-20.06%20 Jan 2020727
14 Sept 202109 Mar 2022-16.22%03 Mar 2023535

Calendar-year returns

2016
-1.9%
2017
21.1%
2018
-14.0%
2019
21.1%
2020
8.1%
2021
13.1%
2022
-3.0%
2023
35.2%
2024
25.4%
2025
28.9%
2026
22.8%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20265.19.9-10.47.86.92.0-0.83.9-2.122.8
20250.4-3.8-0.31.15.42.13.04.73.48.00.81.328.9
20248.75.84.1-0.21.62.0-0.7-2.9-2.02.7-0.44.825.4
20235.31.11.93.14.98.21.70.40.8-2.66.40.135.2
2022-5.1-1.24.5-2.61.0-2.54.11.3-6.05.93.3-5.0-3.0
20210.43.34.7-2.62.8-0.1-2.43.24.4-1.3-2.93.413.1
2020-1.5-9.5-7.84.56.60.1-3.67.01.3-2.612.33.28.1
20195.52.40.22.2-6.23.21.1-3.16.15.12.01.621.1
20181.4-3.7-2.94.4-1.6-0.51.6-0.65.6-9.01.2-9.7-14.0
20170.20.5-0.71.22.32.80.4-0.34.35.71.51.621.1
2016-7.6-9.64.3-0.42.5-10.46.41.4-0.45.15.43.4-1.9
20150.37.91.83.34.9-3.21.7-8.0-7.910.81.1-2.19.2
2014-7.0-0.5-0.4-3.43.64.82.0-1.24.60.85.5-0.57.8
2013-0.4-2.58.3-0.15.63.417.0
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: Xtrackers. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

We do not publish a tracking difference for this share class — and it is not an oversight.

this share class is hedged to USD; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.

Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the USD-hedged index series, which the issuer does not publish today.

What tracking difference is and how we compute it →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)21.41%24.12%21.53%19.96%21.65%
Max drawdown-9.62%-27.24%-27.24%-29.89%-32.52%
Sharpe1.450.830.850.710.64
Sortino2.151.151.191.010.91
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
173
Top-10 weight
29.9%

Top 10 holdings

MITSUBISHI UFJ FINANCIAL GROUP
4.62%
TOYOTA MOTOR
3.60%
SUMITOMO MITSUI FINANCIAL GROUP
2.98%
HITACHI
2.87%
TOKYO ELECTRON
2.86%
ADVANTEST
2.86%
SONY GROUP
2.75%
RECRUIT HOLDINGS LTD
2.71%
MIZUHO FINANCIAL GROUP
2.36%
KIOXIA HOLDINGS
2.29%

Sectors

Industrials
24.3%
Financials
19.1%
Information Technology
18.0%
Consumer Discretionary
15.1%
Communication Services
6.7%
Health Care
5.4%
Materials
3.8%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapan: 99.9%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Japan99.9%
⬇ Download the full portfolio — Excel, 173 rows
Full portfolio declared by Xtrackers, as of 2 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
0.4352 USD
ex 19 Aug 2026 · paid 3 Sept 2026
Dividends, last 12 months
0.77 USD
Dividend yield
1.10%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.77 USD1.50 %
20250.43 USD0.96 %
20240.18 USD0.51 %
20230.00 USD0.00 %
20220.15 USD0.54 %
20210.45 USD1.83 %

Dividend contribution to total return

-10%0%10%20%30%40%+37.17 %1 year+28.80 %2025+25.33 %2024+35.20 %2023−2.98 %2022+13.02 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.330.44
20250.43
20240.18
20220.15
20210.45
20200.79
20190.89
20180.15
20170.38
20160.45
20150.00
20140.32

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.4352 USD19 Aug 202620 Aug 20263 Sept 2026
0.3336 USD18 Feb 202619 Feb 20265 Mar 2026
0.431 USD20 Aug 202521 Aug 20254 Sept 2025
0.1837 USD21 Feb 202422 Feb 20247 Mar 2024
0.1487 USD27 Apr 202228 Apr 20223 May 2022
0.4526 USD28 Apr 202129 Apr 20216 May 2021
0.7864 USD22 Apr 202023 Apr 202027 Apr 2020
0.8872 USD11 Apr 201912 Apr 201918 Apr 2019
Per-share dividends as declared by the issuer, in USD, since the first payment (24 Jul 2014). Past dividends are not indicative of future ones.

ETFs declaring the same index

FundTERIncomeFund size
Xtrackers · 3 classes
0.12%Dist. · Acc.4.8 mld EUR
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfXMUJ13 Apr 2023
Börse HamburgXMUJ15 Feb 2021
Börse HannoverXMUJ9 Dec 2024
Börse München / gettexXMUJ19 Apr 2017
Tradegate ExchangeXMUJ27 Nov 2024
+ 5 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged track?
The issuer Xtrackers declares the benchmark: MSCI Total Return Net Japan Index (USD).
How much does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged cost?
The issuer-declared TER is 0.40% per year; the transaction costs estimated in the KID are 0.00%.
What is the fund size of Xtrackers Msci Japan UCITS ETF 2d Usd Hedged?
The fund size declared by Xtrackers is about 7.5 billion euro.
When was Xtrackers Msci Japan UCITS ETF 2d Usd Hedged launched?
The fund was launched on 10 June 2013: it has 13 years of history.
How does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Fisica (dal KID)”).
Does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged trade?
Per the official ESMA register it trades on 5 main exchanges, including Börse Düsseldorf (XMUJ), Börse Hamburg (XMUJ), Börse Hannover (XMUJ), Börse München / gettex (XMUJ), Tradegate Exchange (XMUJ).
What was Xtrackers Msci Japan UCITS ETF 2d Usd Hedged's worst fall?
Over the available history (since 2013), the maximum drawdown was -32.15%, reached in March 2020. Past performance is not indicative of future results.
How many securities does Xtrackers Msci Japan UCITS ETF 2d Usd Hedged hold?
The declared portfolio holds 173 securities; the top 10 positions weigh 29.9%.
Transparency note
The data in this sheet is declared by Xtrackers in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.