DFJ vs. EWJ
Compare and contrast key facts about WisdomTree Japan SmallCap Dividend Fund (DFJ) and iShares MSCI Japan ETF (EWJ).
DFJ and EWJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan SmallCap Dividend Index. It was launched on Jun 16, 2006. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996. Both DFJ and EWJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DFJ vs. EWJ - Performance Comparison
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DFJ vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 5.94% | 31.90% | 2.80% | 21.81% | -9.00% | 0.38% | 1.29% | 16.98% | -18.53% | 32.14% |
EWJ iShares MSCI Japan ETF | 4.58% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Returns By Period
In the year-to-date period, DFJ achieves a 5.94% return, which is significantly higher than EWJ's 4.58% return. Both investments have delivered pretty close results over the past 10 years, with DFJ having a 9.09% annualized return and EWJ not far behind at 8.78%.
DFJ
- 1D
- 3.53%
- 1M
- -9.59%
- YTD
- 5.94%
- 6M
- 9.16%
- 1Y
- 32.42%
- 3Y*
- 17.78%
- 5Y*
- 8.69%
- 10Y*
- 9.09%
EWJ
- 1D
- 3.58%
- 1M
- -8.59%
- YTD
- 4.58%
- 6M
- 9.21%
- 1Y
- 28.81%
- 3Y*
- 16.27%
- 5Y*
- 6.62%
- 10Y*
- 8.78%
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DFJ vs. EWJ - Expense Ratio Comparison
DFJ has a 0.58% expense ratio, which is higher than EWJ's 0.49% expense ratio.
Return for Risk
DFJ vs. EWJ — Risk / Return Rank
DFJ
EWJ
DFJ vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) and iShares MSCI Japan ETF (EWJ). 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.
| DFJ | EWJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.88 | 1.32 | +0.55 |
Sortino ratioReturn per unit of downside risk | 2.54 | 1.92 | +0.62 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.26 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.41 | 2.03 | +0.38 |
Martin ratioReturn relative to average drawdown | 8.69 | 7.50 | +1.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFJ | EWJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.32 | +0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.37 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.51 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.10 | +0.20 |
Correlation
The correlation between DFJ and EWJ is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DFJ vs. EWJ - Dividend Comparison
DFJ's dividend yield for the trailing twelve months is around 2.51%, less than EWJ's 4.33% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 2.51% | 2.68% | 2.46% | 2.43% | 2.62% | 2.07% | 2.59% | 2.24% | 1.89% | 1.60% | 1.76% | 1.23% |
EWJ iShares MSCI Japan ETF | 4.33% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
Drawdowns
DFJ vs. EWJ - Drawdown Comparison
The maximum DFJ drawdown since its inception was -46.00%, smaller than the maximum EWJ drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for DFJ and EWJ.
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Drawdown Indicators
| DFJ | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.00% | -60.93% | +14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -13.59% | +0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -33.14% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -33.14% | -6.88% |
Current DrawdownCurrent decline from peak | -9.59% | -10.14% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -11.19% | -21.84% | +10.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 3.68% | -0.06% |
Volatility
DFJ vs. EWJ - Volatility Comparison
The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 7.65%, while iShares MSCI Japan ETF (EWJ) has a volatility of 9.41%. This indicates that DFJ experiences smaller price fluctuations and is considered to be less risky than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFJ | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.65% | 9.41% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 14.87% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.39% | 21.87% | -4.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 18.10% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 17.31% | -0.41% |