DFJ vs. GSG
DFJ (WisdomTree Japan SmallCap Dividend Fund) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - DFJ is a Japan Equities fund tracking the WisdomTree Japan SmallCap Dividend Index, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. Both are passively managed. Over the past 10 years, DFJ returned 8.92%/yr vs 7.40%/yr for GSG. At a 0.23 correlation, their price movements are largely independent. DFJ charges 0.58%/yr vs 0.75%/yr for GSG.
Performance
DFJ vs. GSG - Performance Comparison
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Returns By Period
In the year-to-date period, DFJ achieves a 11.55% return, which is significantly lower than GSG's 32.35% return. Over the past 10 years, DFJ has outperformed GSG with an annualized return of 8.92%, while GSG has yielded a comparatively lower 7.40% annualized return.
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%
GSG
- 1D
- 3.60%
- 1M
- -0.20%
- 6M
- 28.24%
- YTD
- 32.35%
- 1Y
- 34.57%
- 3Y*
- 14.41%
- 5Y*
- 13.83%
- 10Y*
- 7.40%
DFJ vs. GSG - 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% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 32.35% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
Correlation
The correlation between DFJ and GSG is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jul 21, 2006 | 0.23 |
The correlation between DFJ and GSG shifts across timeframes, from -0.22 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFJ vs. GSG — Risk / Return Rank
DFJ
GSG
DFJ vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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 | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.85 | +0.29 |
| Martin ratioReturn relative to average drawdown | 5.83 | 6.29 | -0.47 |
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Drawdowns
DFJ vs. GSG - Drawdown Comparison
The maximum DFJ drawdown since its inception was -46.00%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for DFJ and GSG.
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Drawdown Indicators
| DFJ | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.00% | -89.62% | +43.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -18.81% | +5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -18.81% | +5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -29.12% | -0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -57.64% | +17.62% |
Current DrawdownCurrent decline from peak | -4.80% | -60.04% | +55.24% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -63.69% | +52.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.78% | 5.51% | -0.73% |
Volatility
DFJ vs. GSG - Volatility Comparison
The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 5.31%, while iShares S&P GSCI Commodity-Indexed Trust (GSG) has a volatility of 7.35%. This indicates that DFJ experiences smaller price fluctuations and is considered to be less risky than GSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFJ | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.31% | 7.35% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.30% | 21.50% | -7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.08% | 23.48% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.98% | 22.80% | -6.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 22.00% | -5.06% |
DFJ vs. GSG - Expense Ratio Comparison
DFJ has a 0.58% expense ratio, which is lower than GSG's 0.75% expense ratio.
Dividends
DFJ vs. GSG - Dividend Comparison
DFJ's dividend yield for the trailing twelve months is around 2.63%, while GSG 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% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFJ and GSG have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSG has higher volatility (7.35%) compared to DFJ (5.31%). In terms of maximum drawdown, DFJ dropped -46.00% vs GSG's -89.62%.
On 10-year performance, DFJ leads with 8.92% vs 7.40% for GSG. On fees, DFJ is cheaper at 0.58% per year. On volatility, DFJ has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DFJ has performed better with a 8.92% return vs 7.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFJ is cheaper with a 0.58% expense ratio, compared with 0.75% for GSG.
DFJ has the higher dividend yield at 2.63%, compared with 0.00% for GSG.
DFJ is categorized as Japan Equities, while GSG is Commodities. DFJ tracks WisdomTree Japan SmallCap Dividend Index, while GSG tracks S&P GSCI Total Return Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for DFJ and 0.75% for GSG.
DFJ currently has the higher Sharpe Ratio (1.64 vs 1.48), 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.
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