DFJ vs. DXJS

Last updated Jul 14, 2026

DFJ (WisdomTree Japan SmallCap Dividend Fund) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both Japan Equities funds from WisdomTree - DFJ tracks the WisdomTree Japan SmallCap Dividend Index while DXJS tracks the WisdomTree Japan Hedged SmallCap Equity Index. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.58% expense ratio.

Performance

DFJ vs. DXJS - Performance Comparison

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

Returns By Period

DFJ

• 1D: -1.56%
• 1M: 1.12%
• 6M: 7.39%
• YTD: 11.55%
• 1Y: 27.78%
• 3Y*: 18.87%
• 5Y*: 9.84%
• 10Y*: 8.92%

DXJS

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

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

DFJ vs. DXJS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFJ WisdomTree Japan SmallCap Dividend Fund	11.55%	31.90%	2.80%	21.81%	-9.00%	0.38%	1.29%	16.98%	-18.53%	32.14%
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 DFJ and DXJS is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013	0.78

The correlation between DFJ and DXJS shifts across timeframes, from 0.67 (5 years) to 0.78 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFJ vs. DXJS — Risk / Return Rank

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

DFJ

DFJ Risk / Return Rank: 56
DFJ Sharpe Ratio Rank: 62
DFJ Sortino Ratio Rank: 63
DFJ Omega Ratio Rank: 58
DFJ Calmar Ratio Rank: 54
DFJ Martin Ratio Rank: 44

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.

DFJ vs. DXJS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) 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.

	DFJ	DXJS	Difference
Sharpe ratio: Return per unit of total volatility	1.64	—	—
Sortino ratio: Return per unit of downside risk	2.32	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.14	—	—
Martin ratio: Return relative to average drawdown	5.83	—	—

Drawdowns

Drawdown Indicators

	DFJ	DXJS	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.03%	—	—
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	-4.80%	—	—
Average Drawdown Average peak-to-trough decline	-11.12%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.78%	—	—

Volatility

Volatility by Period

	DFJ	DXJS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.08%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.98%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	—	—

DFJ vs. DXJS - Expense Ratio Comparison

Both DFJ and DXJS have an expense ratio of 0.58%.

Dividends

DFJ vs. DXJS - Dividend Comparison

DFJ's dividend yield for the trailing twelve months is around 2.63%, while DXJS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJ WisdomTree Japan SmallCap Dividend Fund	2.63%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%
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 DFJ and DXJS in my portfolio?

DFJ and DXJS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DFJ or DXJS?

Both ETFs have the same 0.58% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFJ or DXJS?

DFJ and DXJS have the same expense ratio: 0.58% per year.

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

DFJ has the higher dividend yield at 2.63%, compared with 0.53% for DXJS.

What is the main difference between DFJ and DXJS?

DFJ tracks WisdomTree Japan SmallCap Dividend Index, while DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index.