ADIV vs. DXJ

Last updated Jun 9, 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 Asset Management, 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 5.91%/yr vs 25.93%/yr for DXJ. At a 0.46 correlation, their price movements are largely independent. 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 4.50% return, which is significantly lower than DXJ's 17.86% return.

ADIV

• 1D: 0.43%
• 1M: -2.41%
• YTD: 4.50%
• 6M: 4.87%
• 1Y: 14.36%
• 3Y*: 15.97%
• 5Y*: 5.91%
• 10Y*: —

DXJ

• 1D: 0.39%
• 1M: 2.00%
• YTD: 17.86%
• 6M: 21.01%
• 1Y: 51.36%
• 3Y*: 31.77%
• 5Y*: 25.93%
• 10Y*: 18.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADIV vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	4.50%	21.86%	14.47%	12.28%	-18.00%	1.41%
DXJ WisdomTree Japan Hedged Equity Fund	17.86%	32.78%	29.83%	42.04%	5.96%	3.12%

Correlation

The correlation between ADIV and DXJ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year 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	32.4%	18.3%
Technology	25.5%	12.9%
Consumer Cyclical	16.3%	15.6%
Real Estate	7.9%	-
Healthcare	5.6%	6.8%
Consumer Defensive	4.7%	4.7%
Communication Services	2.7%	2.7%
Utilities	2.5%	0.1%
Industrials	2.4%	27.4%
Basic Materials	-	8.5%
Energy	-	1.7%

Return for Risk

ADIV vs. DXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADIV

ADIV Risk / Return Rank: 32
ADIV Sharpe Ratio Rank: 32
ADIV Sortino Ratio Rank: 31
ADIV Omega Ratio Rank: 31
ADIV Calmar Ratio Rank: 32
ADIV Martin Ratio Rank: 34

DXJ

DXJ Risk / Return Rank: 90
DXJ Sharpe Ratio Rank: 92
DXJ Sortino Ratio Rank: 91
DXJ Omega Ratio Rank: 90
DXJ Calmar Ratio Rank: 88
DXJ Martin Ratio Rank: 89

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.

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.

	ADIV	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.94	-1.90
Sortino ratio: Return per unit of downside risk	1.50	3.96	-2.46
Omega ratio: Gain probability vs. loss probability	1.19	1.53	-0.34
Calmar ratio: Return relative to maximum drawdown	1.42	4.70	-3.28
Martin ratio: Return relative to average drawdown	4.66	18.34	-13.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADIV vs. DXJ - Sharpe Ratio Comparison

The current ADIV Sharpe Ratio is 1.04, which is lower than the DXJ Sharpe Ratio of 2.94. 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.

Sharpe Ratios by Period

	ADIV	DXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.94	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	1.37	-1.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.42	-0.05

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	-4.40%	-2.06%	-2.34%
Average Drawdown Average peak-to-trough decline	-8.44%	-14.33%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.81%	+0.28%

Volatility

ADIV vs. DXJ - Volatility Comparison

SmartETFs Asia Pacific Dividend Builder ETF (ADIV) has a higher volatility of 5.13% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 4.19%. This indicates that ADIV'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.

Volatility by Period

	ADIV	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	4.19%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	13.33%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	13.87%	17.58%	-3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	19.00%	-2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	20.19%	-3.78%

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 2.88%, more than DXJ's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.88%	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	1.10%	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 0.42, 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?

ADIV has higher volatility (5.13%) compared to DXJ (4.19%). 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 25.93% vs 5.91% for ADIV. On fees, DXJ is cheaper at 0.48% per year. On volatility, DXJ has been the lower-risk option at 4.19%. 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 25.93% return vs 5.91%. 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 2.88%, compared with 1.10% 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 Asset Management 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 (2.94 vs 1.04), 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.