DBJP vs. DXJS

Last updated Jul 15, 2026

DBJP (Xtrackers MSCI Japan Hedged Equity ETF) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both Japan Equities funds - DBJP tracks the MSCI Japan US Dollar Hedged Index while DXJS tracks the WisdomTree Japan Hedged SmallCap Equity Index. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. DBJP charges 0.45%/yr vs 0.58%/yr for DXJS.

Performance

DBJP vs. DXJS - 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 Hedged SmallCap Equity Fund (DXJS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DBJP

• 1D: 1.15%
• 1M: 3.15%
• 6M: 15.87%
• YTD: 23.02%
• 1Y: 53.32%
• 3Y*: 29.59%
• 5Y*: 22.29%
• 10Y*: 16.71%

DXJS

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBJP vs. DXJS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBJP Xtrackers MSCI Japan Hedged Equity ETF	23.02%	29.51%	25.53%	36.21%	-4.19%	13.04%	10.53%	20.87%	-14.82%	21.24%
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	23.30%	37.08%	20.70%	38.96%	5.02%	11.66%	-3.22%	18.24%	-18.69%	29.56%

Correlation

The correlation between DBJP and DXJS is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013	0.85

The correlation between DBJP and DXJS shifts across timeframes, from 0.71 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DBJP vs. DXJS — Risk / Return Rank

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

DBJP

DBJP Risk / Return Rank: 93
DBJP Sharpe Ratio Rank: 93
DBJP Sortino Ratio Rank: 92
DBJP Omega Ratio Rank: 91
DBJP Calmar Ratio Rank: 93
DBJP Martin Ratio Rank: 94

DXJS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. DXJS - 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 Hedged SmallCap Equity Fund (DXJS). 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.

	DBJP	DXJS	Difference
Sharpe ratio: Return per unit of total volatility	2.66	—	—
Sortino ratio: Return per unit of downside risk	3.50	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	5.16	—	—
Martin ratio: Return relative to average drawdown	19.11	—	—

Drawdowns

Drawdown Indicators

	DBJP	DXJS	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.30%	—	—
Current Drawdown Current decline from peak	-2.75%	—	—
Average Drawdown Average peak-to-trough decline	-7.25%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	—	—

Volatility

Volatility by Period

	DBJP	DXJS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.10%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.21%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	—	—

DBJP vs. DXJS - Expense Ratio Comparison

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

Dividends

DBJP vs. DXJS - Dividend Comparison

DBJP's dividend yield for the trailing twelve months is around 1.23%, while DXJS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBJP Xtrackers MSCI Japan Hedged Equity ETF	1.23%	2.81%	2.80%	5.21%	0.80%	2.30%	2.53%	2.56%	3.87%	2.07%	1.13%	5.95%
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	0.53%	1.78%	4.02%	2.71%	2.63%	2.96%	3.04%	2.17%	2.06%	1.53%	1.66%	3.61%

Frequently Asked Questions

Can I hold both DBJP and DXJS in my portfolio?

DBJP and DXJS have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBJP or DXJS?

On fees, DBJP is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBJP or DXJS?

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

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

DBJP has the higher dividend yield at 1.23%, compared with 0.53% for DXJS.

What is the main difference between DBJP and DXJS?

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