DBJP vs. DFJ

Last updated Jun 4, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and DFJ (WisdomTree Japan SmallCap Dividend Fund) are both Japan Equities funds - DBJP tracks the MSCI Japan US Dollar Hedged Index while DFJ tracks the WisdomTree Japan SmallCap Dividend Index. Both are passively managed. Over the past 10 years, DBJP returned 16.54%/yr vs 8.70%/yr for DFJ. A 0.69 correlation means they provide meaningful diversification when combined. DBJP charges 0.45%/yr vs 0.58%/yr for DFJ.

Performance

DBJP vs. DFJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and WisdomTree Japan SmallCap Dividend Fund (DFJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBJP achieves a 20.51% return, which is significantly higher than DFJ's 9.06% return. Over the past 10 years, DBJP has outperformed DFJ with an annualized return of 16.54%, while DFJ has yielded a comparatively lower 8.70% annualized return.

DBJP

• 1D: 0.81%
• 1M: 8.88%
• YTD: 20.51%
• 6M: 24.02%
• 1Y: 52.66%
• 3Y*: 29.04%
• 5Y*: 21.44%
• 10Y*: 16.54%

DFJ

• 1D: -0.46%
• 1M: 2.01%
• YTD: 9.06%
• 6M: 12.58%
• 1Y: 26.81%
• 3Y*: 18.99%
• 5Y*: 9.51%
• 10Y*: 8.70%

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

DBJP vs. DFJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBJP Xtrackers MSCI Japan Hedged Equity ETF	20.51%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-14.82%	21.24%
DFJ WisdomTree Japan SmallCap Dividend Fund	9.06%	31.90%	2.80%	21.81%	-9.00%	0.38%	1.29%	16.98%	-18.53%	32.14%

Correlation

The correlation between DBJP and DFJ is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jun 10, 2011	0.69

The correlation between DBJP and DFJ shifts across timeframes, from 0.58 (3 years) to 0.69 (10 years), reflecting how their relationship changes across market environments.

DBJP vs. DFJ - Sectors Allocation Comparison

Sectors	DBJP	DFJ
Industrials	26.0%	27.0%
Technology	19.1%	12.6%
Financial Services	17.5%	13.3%
Consumer Cyclical	12.2%	16.1%
Communication Services	7.9%	1.5%
Healthcare	6.3%	4.1%
Consumer Defensive	3.6%	7.1%
Basic Materials	3.0%	13.3%
Real Estate	2.3%	2.9%
Utilities	1.1%	1.6%
Energy	1.1%	0.6%

Return for Risk

DBJP vs. DFJ — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 86
DBJP Sharpe Ratio Rank: 85
DBJP Sortino Ratio Rank: 85
DBJP Omega Ratio Rank: 83
DBJP Calmar Ratio Rank: 88
DBJP Martin Ratio Rank: 88

DFJ

DFJ Risk / Return Rank: 44
DFJ Sharpe Ratio Rank: 47
DFJ Sortino Ratio Rank: 47
DFJ Omega Ratio Rank: 45
DFJ Calmar Ratio Rank: 42
DFJ Martin Ratio Rank: 38

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.

DBJP vs. DFJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) and WisdomTree Japan SmallCap Dividend Fund (DFJ). 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.

	DBJP	DFJ	Difference
Sharpe ratio Return per unit of total volatility	2.83	1.65	+1.19
Sortino ratio Return per unit of downside risk	3.89	2.34	+1.55
Omega ratio Gain probability vs. loss probability	1.51	1.29	+0.22
Calmar ratio Return relative to maximum drawdown	5.09	2.07	+3.03
Martin ratio Return relative to average drawdown	19.86	6.01	+13.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBJP vs. DFJ - Sharpe Ratio Comparison

The current DBJP Sharpe Ratio is 2.83, which is higher than the DFJ Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of DBJP and DFJ, 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

	DBJP	DFJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	1.65	+1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	0.60	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.51	+0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.31	+0.38

Drawdowns

DBJP vs. DFJ - Drawdown Comparison

The maximum DBJP drawdown since its inception was -31.30%, smaller than the maximum DFJ drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for DBJP and DFJ.

Drawdown Indicators

	DBJP	DFJ	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-46.00%	+14.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-13.03%	+2.64%
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	-13.03%	-8.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	-29.71%	+8.21%
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	-40.02%	+8.72%
Current Drawdown Current decline from peak	0.00%	-6.92%	+6.92%
Average Drawdown Average peak-to-trough decline	-7.29%	-11.15%	+3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	4.47%	-1.81%

Volatility

DBJP vs. DFJ - Volatility Comparison

The current volatility for Xtrackers MSCI Japan Hedged Equity ETF (DBJP) is 3.85%, while WisdomTree Japan SmallCap Dividend Fund (DFJ) has a volatility of 4.15%. This indicates that DBJP experiences smaller price fluctuations and is considered to be less risky than DFJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBJP	DFJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	4.15%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	13.79%	13.48%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	18.69%	16.39%	+2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	15.89%	+3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.46%	16.95%	+2.51%

DBJP vs. DFJ - Expense Ratio Comparison

DBJP has a 0.45% expense ratio, which is lower than DFJ's 0.58% expense ratio.

Dividends

DBJP vs. DFJ - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 2.34%, less than DFJ's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	2.34%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
DFJ WisdomTree Japan SmallCap Dividend Fund	2.44%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%

Frequently Asked Questions

Can I hold both DBJP and DFJ in my portfolio?

DBJP and DFJ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBJP or DFJ?

DFJ has higher volatility (4.15%) compared to DBJP (3.85%). In terms of maximum drawdown, DBJP dropped -31.30% vs DFJ's -46.00%.

Which ETF is better, DBJP or DFJ?

On 10-year performance, DBJP leads with 16.54% vs 8.70% for DFJ. On fees, DBJP is cheaper at 0.45% per year. On volatility, DBJP has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBJP or DFJ?

Over the 10-year period, DBJP has performed better with a 16.54% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBJP or DFJ?

DBJP is cheaper with a 0.45% expense ratio, compared with 0.58% for DFJ.

Which ETF pays a higher dividend yield, DBJP or DFJ?

DFJ has the higher dividend yield at 2.44%, compared with 2.34% for DBJP.

What is the main difference between DBJP and DFJ?

DBJP tracks MSCI Japan US Dollar Hedged Index, while DFJ tracks WisdomTree Japan SmallCap Dividend Index. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.45% for DBJP and 0.58% for DFJ.

Which has better risk-adjusted returns?

DBJP currently has the higher Sharpe Ratio (2.83 vs 1.65), 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.