DFJ vs. MJSC

Last updated Jun 24, 2026

DFJ (WisdomTree Japan SmallCap Dividend Fund) and MJSC (MUFG Japan Small Cap Active ETF) are both Japan Equities funds. DFJ is passively managed, while MJSC is actively managed. Their correlation of 0.85 suggests significant overlap in exposure. DFJ charges 0.58%/yr vs 0.85%/yr for MJSC.

Performance

DFJ vs. MJSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan SmallCap Dividend Fund (DFJ) and MUFG Japan Small Cap Active ETF (MJSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFJ achieves a 10.30% return, which is significantly lower than MJSC's 22.08% return.

DFJ

• 1D: -2.08%
• 1M: -0.13%
• YTD: 10.30%
• 6M: 10.45%
• 1Y: 29.48%
• 3Y*: 19.83%
• 5Y*: 10.02%
• 10Y*: 9.32%

MJSC

• 1D: -3.44%
• 1M: -0.52%
• YTD: 22.08%
• 6M: 21.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFJ vs. MJSC - Yearly Performance Comparison

	2026 (YTD)	2025
DFJ WisdomTree Japan SmallCap Dividend Fund	10.30%	1.17%
MJSC MUFG Japan Small Cap Active ETF	22.08%	-0.05%

Correlation

The correlation between DFJ and MJSC is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.85

Return for Risk

DFJ vs. MJSC — 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: 54
DFJ Omega Ratio Rank: 51
DFJ Calmar Ratio Rank: 49
DFJ Martin Ratio Rank: 41

MJSC

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. MJSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) and MUFG Japan Small Cap Active ETF (MJSC). 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	MJSC	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.46	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	6.34	—	—

Drawdowns

DFJ vs. MJSC - Drawdown Comparison

The maximum DFJ drawdown since its inception was -46.00%, which is greater than MJSC's maximum drawdown of -12.63%. Use the drawdown chart below to compare losses from any high point for DFJ and MJSC.

Drawdown Indicators

	DFJ	MJSC	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	-12.63%	-33.37%
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	-5.86%	-3.44%	-2.42%
Average Drawdown Average peak-to-trough decline	-11.14%	-2.94%	-8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	—	—

Volatility

Volatility by Period

	DFJ	MJSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.85%	20.85%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	20.85%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	20.85%	-3.91%

DFJ vs. MJSC - Expense Ratio Comparison

DFJ has a 0.58% expense ratio, which is lower than MJSC's 0.85% expense ratio.

Dividends

DFJ vs. MJSC - Dividend Comparison

DFJ's dividend yield for the trailing twelve months is around 2.41%, more than MJSC's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MJSC MUFG Japan Small Cap Active ETF	0.54%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFJ and MJSC in my portfolio?

DFJ and MJSC have a correlation of 0.85, 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 MJSC?

On fees, DFJ is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DFJ or MJSC?

DFJ is cheaper with a 0.58% expense ratio, compared with 0.85% for MJSC.

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

DFJ has the higher dividend yield at 2.41%, compared with 0.54% for MJSC.

What is the main difference between DFJ and MJSC?

They also come from different issuers: WisdomTree and MUFG. Their fees differ too: 0.58% for DFJ and 0.85% for MJSC.