ADIV vs. DXJ

Last updated Aug 2, 2026

ADIV (SmartETFs Asia Pacific Dividend Builder ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. ADIV is actively managed, while DXJ is passively managed. Over the past 5 years, ADIV returned 7.69%/yr vs 27.38%/yr for DXJ. Their 0.46 correlation means their historical movements had little consistent relationship. ADIV charges 0.78%/yr vs 0.48%/yr for DXJ.

Performance

ADIV vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADIV achieves a 9.55% return, which is significantly lower than DXJ's 21.25% return.

ADIV

• 1D: -0.96%
• 1M: 6.05%
• 6M: 6.89%
• YTD: 9.55%
• 1Y: 14.46%
• 3Y*: 16.03%
• 5Y*: 7.69%
• 10Y*: —
• ALL TIME*: 6.88%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADIV SmartETFs Asia Pacific Dividend Builder ETF	$158.48K	$98.50K	$105.95K
DXJ WisdomTree Japan Hedged Equity Fund	$66.09M	$60.67M	$58.46M

ADIV vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	9.55%	21.86%	14.47%	12.28%	-18.00%	1.41%
DXJ WisdomTree Japan Hedged Equity Fund	21.25%	32.78%	29.83%	42.04%	5.96%	3.12%

Correlation

The correlation between ADIV and DXJ is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (3Y) Balances recent behavior with more history.	0.39
Correlation (5Y) Shows whether the relationship held over a longer period.	0.46
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.46

ADIV vs. DXJ - Sectors Allocation Comparison

Sectors	ADIV	DXJ
Financial Services	32.2%	18.3%
Technology	25.8%	12.9%
Consumer Cyclical	15.9%	13.3%
Real Estate	8.1%	-
Healthcare	5.2%	6.8%
Consumer Defensive	4.8%	4.7%
Communication Services	3.5%	2.3%
Industrials	2.5%	29.5%
Utilities	2.0%	0.1%
Basic Materials	-	9.1%
Energy	-	1.7%

Return for Risk

ADIV vs. DXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ADIV

ADIV Risk / Return Rank: 39
ADIV Sharpe Ratio Rank: 40
ADIV Sortino Ratio Rank: 38
ADIV Omega Ratio Rank: 38
ADIV Calmar Ratio Rank: 39
ADIV Martin Ratio Rank: 40

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 94
DXJ Sortino Ratio Rank: 92
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 92
DXJ Martin Ratio Rank: 92

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.

ADIV vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) 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.

	ADIV	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.61	-1.63
Sortino ratio: Return per unit of downside risk	1.44	3.40	-1.97
Omega ratio: Gain probability vs. loss probability	1.18	1.46	-0.28
Calmar ratio: Return relative to maximum drawdown	1.37	4.30	-2.93
Martin ratio: Return relative to average drawdown	4.24	16.08	-11.84

ADIV vs. DXJ - Sharpe Ratio Comparison

The current ADIV Sharpe Ratio is 0.98, which is lower than the DXJ Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of ADIV 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.

Drawdowns

ADIV vs. DXJ - Drawdown Comparison

The maximum ADIV drawdown since its inception was -31.55%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for ADIV and DXJ.

Drawdown Indicators

	ADIV	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-49.63%	+18.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-10.98%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	-22.19%	+3.66%
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	-22.19%	-9.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.14%	—
Current Drawdown Current decline from peak	-0.96%	-3.40%	+2.44%
Average Drawdown Average peak-to-trough decline	-8.27%	-14.24%	+5.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	2.93%	+0.34%

Volatility

ADIV vs. DXJ - Volatility Comparison

The current volatility for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) is 3.87%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 6.07%. This indicates that ADIV 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.

Volatility by Period

	ADIV	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	6.07%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	14.35%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	14.23%	18.07%	-3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	19.07%	-2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.35%	19.93%	-3.58%

ADIV vs. DXJ - Expense Ratio Comparison

ADIV has a 0.78% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

ADIV vs. DXJ - Dividend Comparison

ADIV's dividend yield for the trailing twelve months is around 2.87%, more than DXJ's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.87%	2.77%	4.83%	4.55%	2.98%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both ADIV and DXJ in my portfolio?

ADIV and DXJ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADIV or DXJ?

DXJ has higher volatility (6.07%) compared to ADIV (3.87%). In terms of maximum drawdown, ADIV dropped -31.55% vs DXJ's -49.63%.

Which ETF is better, ADIV or DXJ?

On 5-year performance, DXJ leads with 27.38% vs 7.69% for ADIV. On fees, DXJ is cheaper at 0.48% per year. On volatility, ADIV has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADIV or DXJ?

Over the 5-year period, DXJ has performed better with a 27.38% return vs 7.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADIV or DXJ?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, ADIV or DXJ?

ADIV has the higher dividend yield at 2.87%, compared with 0.97% for DXJ.

What is the main difference between ADIV and DXJ?

ADIV is categorized as Asia Pacific Equities, while DXJ is Japan Equities. They also come from different issuers: Guinness Atkinson and WisdomTree. Their fees differ too: 0.78% for ADIV and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (2.61 vs 0.98), 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.