DFJ vs. ALAI

Last updated Jun 13, 2026

DFJ (WisdomTree Japan SmallCap Dividend Fund) and ALAI (Alger AI Enablers & Adopters ETF) are both exchange-traded funds - DFJ is a Japan Equities fund tracking the WisdomTree Japan SmallCap Dividend Index, while ALAI is a Technology Equities fund actively managed by Alger. DFJ is passively managed, while ALAI is actively managed. Over the past year, DFJ returned 28.50% vs 51.94% for ALAI. At a 0.22 correlation, their price movements are largely independent. DFJ charges 0.58%/yr vs 0.55%/yr for ALAI.

Performance

DFJ vs. ALAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan SmallCap Dividend Fund (DFJ) and Alger AI Enablers & Adopters ETF (ALAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFJ achieves a 10.31% return, which is significantly lower than ALAI's 20.13% return.

DFJ

• 1D: 0.31%
• 1M: -1.56%
• YTD: 10.31%
• 6M: 11.99%
• 1Y: 28.50%
• 3Y*: 18.53%
• 5Y*: 9.75%
• 10Y*: 9.18%

ALAI

• 1D: 0.81%
• 1M: -0.06%
• YTD: 20.13%
• 6M: 20.63%
• 1Y: 51.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFJ vs. ALAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFJ WisdomTree Japan SmallCap Dividend Fund	10.31%	31.90%	0.28%
ALAI Alger AI Enablers & Adopters ETF	20.13%	39.81%	32.38%

Correlation

The correlation between DFJ and ALAI is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	0.22

DFJ vs. ALAI - Sectors Allocation Comparison

Sectors	DFJ	ALAI
Industrials	27.0%	3.2%
Consumer Cyclical	16.1%	13.7%
Basic Materials	13.3%	-
Financial Services	13.3%	2.3%
Technology	12.6%	55.9%
Consumer Defensive	7.1%	-
Healthcare	4.1%	2.8%
Real Estate	2.9%	-
Utilities	1.6%	2.0%
Communication Services	1.5%	20.1%
Energy	0.6%	-

Return for Risk

DFJ vs. ALAI — Risk / Return Rank

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

DFJ

DFJ Risk / Return Rank: 50
DFJ Sharpe Ratio Rank: 55
DFJ Sortino Ratio Rank: 55
DFJ Omega Ratio Rank: 52
DFJ Calmar Ratio Rank: 48
DFJ Martin Ratio Rank: 42

ALAI

ALAI Risk / Return Rank: 63
ALAI Sharpe Ratio Rank: 74
ALAI Sortino Ratio Rank: 65
ALAI Omega Ratio Rank: 64
ALAI Calmar Ratio Rank: 60
ALAI Martin Ratio Rank: 54

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.

DFJ vs. ALAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) and Alger AI Enablers & Adopters ETF (ALAI). 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.

	DFJ	ALAI	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.06	-0.41
Sortino ratio: Return per unit of downside risk	2.34	2.60	-0.27
Omega ratio: Gain probability vs. loss probability	1.29	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	2.11	2.64	-0.53
Martin ratio: Return relative to average drawdown	5.97	8.30	-2.34

DFJ vs. ALAI - Sharpe Ratio Comparison

The current DFJ Sharpe Ratio is 1.65, which is comparable to the ALAI Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of DFJ and ALAI, 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

DFJ vs. ALAI - Drawdown Comparison

The maximum DFJ drawdown since its inception was -46.00%, which is greater than ALAI's maximum drawdown of -29.36%. Use the drawdown chart below to compare losses from any high point for DFJ and ALAI.

Drawdown Indicators

	DFJ	ALAI	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	-29.36%	-16.64%
Max Drawdown (1Y) Largest decline over 1 year	-13.03%	-19.48%	+6.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.02%	—	—
Current Drawdown Current decline from peak	-5.85%	-7.13%	+1.28%
Average Drawdown Average peak-to-trough decline	-11.15%	-5.15%	-6.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	6.18%	-1.57%

Volatility

DFJ vs. ALAI - Volatility Comparison

The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 4.87%, while Alger AI Enablers & Adopters ETF (ALAI) has a volatility of 9.13%. This indicates that DFJ experiences smaller price fluctuations and is considered to be less risky than ALAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFJ	ALAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	9.13%	-4.26%
Volatility (6M) Calculated over the trailing 6-month period	13.79%	19.84%	-6.05%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	24.96%	-8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	28.59%	-12.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	28.59%	-11.62%

DFJ vs. ALAI - Expense Ratio Comparison

DFJ has a 0.58% expense ratio, which is higher than ALAI's 0.55% expense ratio.

Dividends

DFJ vs. ALAI - Dividend Comparison

DFJ's dividend yield for the trailing twelve months is around 2.41%, more than ALAI's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALAI Alger AI Enablers & Adopters ETF	1.25%	1.50%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DFJ WisdomTree Japan SmallCap Dividend Fund	2.41%	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 DFJ and ALAI in my portfolio?

DFJ and ALAI have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFJ or ALAI?

ALAI has higher volatility (9.13%) compared to DFJ (4.87%). In terms of maximum drawdown, DFJ dropped -46.00% vs ALAI's -29.36%.

Which ETF is better, DFJ or ALAI?

On 1-year performance, ALAI leads with 51.94% vs 28.50% for DFJ. On fees, ALAI is cheaper at 0.55% per year. On volatility, DFJ has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFJ or ALAI?

Over the 1-year period, ALAI has performed better with a 51.94% return vs 28.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFJ or ALAI?

ALAI is cheaper with a 0.55% expense ratio, compared with 0.58% for DFJ.

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

DFJ has the higher dividend yield at 2.41%, compared with 1.25% for ALAI.

What is the main difference between DFJ and ALAI?

DFJ is categorized as Japan Equities, while ALAI is Technology Equities. They also come from different issuers: WisdomTree and Alger. Their fees differ too: 0.58% for DFJ and 0.55% for ALAI.

Which has better risk-adjusted returns?

ALAI currently has the higher Sharpe Ratio (2.06 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.