DFJ vs. NBJP

Last updated Jun 4, 2026

DFJ (WisdomTree Japan SmallCap Dividend Fund) and NBJP (Neuberger Berman Japan Equity ETF) are both Japan Equities funds. DFJ is passively managed, while NBJP is actively managed. Over the past year, DFJ returned 26.81% vs 35.11% for NBJP. Their correlation of 0.83 suggests significant overlap in exposure. DFJ charges 0.58%/yr vs 0.50%/yr for NBJP.

Performance

DFJ vs. NBJP - Performance Comparison

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

Returns By Period

In the year-to-date period, DFJ achieves a 9.06% return, which is significantly lower than NBJP's 18.88% return.

DFJ

• 1D: -0.46%
• 1M: 2.01%
• YTD: 9.06%
• 6M: 12.58%
• 1Y: 26.81%
• 3Y*: 18.99%
• 5Y*: 9.51%
• 10Y*: 8.70%

NBJP

• 1D: 0.32%
• 1M: 7.23%
• YTD: 18.88%
• 6M: 21.26%
• 1Y: 35.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFJ vs. NBJP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFJ WisdomTree Japan SmallCap Dividend Fund	9.06%	31.90%	-3.62%
NBJP Neuberger Berman Japan Equity ETF	18.88%	30.41%	-3.34%

Correlation

The correlation between DFJ and NBJP is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024	0.83

The correlation between DFJ and NBJP has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

DFJ vs. NBJP — Risk / Return Rank

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

DFJ

DFJ Risk / Return Rank: 44
DFJ Sharpe Ratio Rank: 47
DFJ Sortino Ratio Rank: 47
DFJ Omega Ratio Rank: 45
DFJ Calmar Ratio Rank: 42
DFJ Martin Ratio Rank: 38

NBJP

NBJP Risk / Return Rank: 52
NBJP Sharpe Ratio Rank: 53
NBJP Sortino Ratio Rank: 53
NBJP Omega Ratio Rank: 53
NBJP Calmar Ratio Rank: 51
NBJP Martin Ratio Rank: 52

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. NBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) and Neuberger Berman Japan Equity ETF (NBJP). 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	NBJP	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.79	-0.14
Sortino ratio: Return per unit of downside risk	2.34	2.55	-0.20
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.07	2.46	-0.39
Martin ratio: Return relative to average drawdown	6.01	8.84	-2.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFJ vs. NBJP - Sharpe Ratio Comparison

The current DFJ Sharpe Ratio is 1.65, which is comparable to the NBJP Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of DFJ and NBJP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DFJ	NBJP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	1.79	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	1.37	-1.06

Drawdowns

DFJ vs. NBJP - Drawdown Comparison

The maximum DFJ drawdown since its inception was -46.00%, which is greater than NBJP's maximum drawdown of -14.34%. Use the drawdown chart below to compare losses from any high point for DFJ and NBJP.

Drawdown Indicators

	DFJ	NBJP	Difference
Max Drawdown Largest peak-to-trough decline	-46.00%	-14.34%	-31.66%
Max Drawdown (1Y) Largest decline over 1 year	-13.03%	-14.34%	+1.31%
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	-6.92%	-0.79%	-6.13%
Average Drawdown Average peak-to-trough decline	-11.15%	-3.22%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	3.98%	+0.49%

Volatility

DFJ vs. NBJP - Volatility Comparison

The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 4.15%, while Neuberger Berman Japan Equity ETF (NBJP) has a volatility of 5.49%. This indicates that DFJ experiences smaller price fluctuations and is considered to be less risky than NBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFJ	NBJP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	5.49%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	16.51%	-3.03%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	19.76%	-3.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	19.55%	-3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	19.55%	-2.60%

DFJ vs. NBJP - Expense Ratio Comparison

DFJ has a 0.58% expense ratio, which is higher than NBJP's 0.50% expense ratio.

Dividends

DFJ vs. NBJP - Dividend Comparison

DFJ's dividend yield for the trailing twelve months is around 2.44%, more than NBJP's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJ WisdomTree Japan SmallCap Dividend Fund	2.44%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%
NBJP Neuberger Berman Japan Equity ETF	1.92%	2.29%	0.75%	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 NBJP in my portfolio?

DFJ and NBJP have a correlation of 0.82, 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 NBJP?

NBJP has higher volatility (5.49%) compared to DFJ (4.15%). In terms of maximum drawdown, DFJ dropped -46.00% vs NBJP's -14.34%.

Which ETF is better, DFJ or NBJP?

On 1-year performance, NBJP leads with 35.11% vs 26.81% for DFJ. On fees, NBJP is cheaper at 0.50% per year. On volatility, DFJ has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFJ or NBJP?

Over the 1-year period, NBJP has performed better with a 35.11% return vs 26.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFJ or NBJP?

NBJP is cheaper with a 0.50% expense ratio, compared with 0.58% for DFJ.

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

DFJ has the higher dividend yield at 2.44%, compared with 1.92% for NBJP.

What is the main difference between DFJ and NBJP?

They also come from different issuers: WisdomTree and Neuberger Berman. Their fees differ too: 0.58% for DFJ and 0.50% for NBJP.

Which has better risk-adjusted returns?

NBJP currently has the higher Sharpe Ratio (1.79 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.