DGS vs. DXJ
DGS (WisdomTree Emerging Markets SmallCap Dividend Fund) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - DGS is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets SmallCap Dividend Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, DGS returned 9.87%/yr vs 19.25%/yr for DXJ. A 0.56 correlation means they provide meaningful diversification when combined. DGS charges 0.58%/yr vs 0.48%/yr for DXJ.
Performance
DGS vs. DXJ - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DGS achieves a 12.85% return, which is significantly lower than DXJ's 20.23% return. Over the past 10 years, DGS has underperformed DXJ with an annualized return of 9.87%, while DXJ has yielded a comparatively higher 19.25% annualized return.
DGS
- 1D
- -2.97%
- 1M
- -0.76%
- YTD
- 12.85%
- 6M
- 13.23%
- 1Y
- 23.97%
- 3Y*
- 15.58%
- 5Y*
- 7.67%
- 10Y*
- 9.87%
DXJ
- 1D
- -3.57%
- 1M
- 2.21%
- YTD
- 20.23%
- 6M
- 20.18%
- 1Y
- 55.89%
- 3Y*
- 31.66%
- 5Y*
- 26.40%
- 10Y*
- 19.25%
DGS vs. DXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 12.85% | 21.18% | 1.13% | 19.08% | -12.35% | 15.33% | 4.06% | 18.90% | -16.52% | 37.47% |
DXJ WisdomTree Japan Hedged Equity Fund | 20.23% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
Correlation
The correlation between DGS and DXJ is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007 | 0.56 |
The correlation between DGS and DXJ shifts across timeframes, from 0.43 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DGS vs. DXJ — Risk / Return Rank
DGS
DXJ
DGS vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.
| DGS | DXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.55 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 5.12 | -2.72 |
| Martin ratioReturn relative to average drawdown | 7.88 | 19.78 | -11.90 |
Loading charts...
Drawdowns
DGS vs. DXJ - Drawdown Comparison
The maximum DGS drawdown since its inception was -61.83%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for DGS and DXJ.
Loading charts...
Drawdown Indicators
| DGS | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.83% | -49.63% | -12.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.06% | -10.98% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -19.31% | -22.19% | +2.88% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -22.19% | -2.67% |
Max Drawdown (10Y)Largest decline over 10 years | -44.08% | -39.14% | -4.94% |
Current DrawdownCurrent decline from peak | -3.33% | -3.57% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -12.56% | -14.30% | +1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.83% | +0.22% |
Volatility
DGS vs. DXJ - Volatility Comparison
WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) has a higher volatility of 7.86% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.28%. This indicates that DGS's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DGS | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.86% | 6.28% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.73% | 14.08% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.88% | 18.14% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.19% | 19.08% | -3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 20.00% | -2.67% |
DGS vs. DXJ - Expense Ratio Comparison
DGS has a 0.58% expense ratio, which is higher than DXJ's 0.48% expense ratio.
Dividends
DGS vs. DXJ - Dividend Comparison
DGS's dividend yield for the trailing twelve months is around 3.26%, more than DXJ's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGS WisdomTree Emerging Markets SmallCap Dividend Fund | 3.26% | 3.45% | 3.36% | 4.55% | 5.34% | 3.98% | 3.69% | 3.95% | 4.24% | 2.81% | 3.42% | 3.28% |
DXJ WisdomTree Japan Hedged Equity Fund | 1.08% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
Frequently Asked Questions
DGS and DXJ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGS has higher volatility (7.86%) compared to DXJ (6.28%). In terms of maximum drawdown, DGS dropped -61.83% vs DXJ's -49.63%.
On 10-year performance, DXJ leads with 19.25% vs 9.87% for DGS. On fees, DXJ is cheaper at 0.48% per year. On volatility, DXJ has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DXJ has performed better with a 19.25% return vs 9.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DXJ is cheaper with a 0.48% expense ratio, compared with 0.58% for DGS.
DGS has the higher dividend yield at 3.26%, compared with 1.08% for DXJ.
DGS is categorized as Emerging Markets Diversified, while DXJ is Japan Equities. DGS tracks WisdomTree Emerging Markets SmallCap Dividend Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. Their fees differ too: 0.58% for DGS and 0.48% for DXJ.
DXJ currently has the higher Sharpe Ratio (3.10 vs 1.43), 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.
Find the right allocation for DGS and DXJ
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer