DNL vs. PRJPX

Last updated Jun 4, 2026

DNL (WisdomTree Global ex-U.S. Quality Dividend Growth Fund) and PRJPX (T. Rowe Price Japan Fund) are both funds - DNL is a Foreign Large Cap Equities fund tracking the WisdomTree Global ex-U.S. Quality Dividend Growth Index, while PRJPX is a Japan Equities fund managed by T. Rowe Price. Over the past 10 years, DNL returned 9.17%/yr vs 7.82%/yr for PRJPX. A 0.67 correlation means they provide meaningful diversification when combined. DNL charges 0.58%/yr vs 1.05%/yr for PRJPX.

Performance

DNL vs. PRJPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) and T. Rowe Price Japan Fund (PRJPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DNL achieves a 10.17% return, which is significantly lower than PRJPX's 11.22% return. Over the past 10 years, DNL has outperformed PRJPX with an annualized return of 9.17%, while PRJPX has yielded a comparatively lower 7.82% annualized return.

DNL

• 1D: -0.96%
• 1M: 3.92%
• YTD: 10.17%
• 6M: 11.58%
• 1Y: 19.16%
• 3Y*: 10.72%
• 5Y*: 4.00%
• 10Y*: 9.17%

PRJPX

• 1D: -0.26%
• 1M: 6.58%
• YTD: 11.22%
• 6M: 14.06%
• 1Y: 27.33%
• 3Y*: 14.69%
• 5Y*: 2.08%
• 10Y*: 7.82%

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

DNL vs. PRJPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DNL WisdomTree Global ex-U.S. Quality Dividend Growth Fund	10.17%	17.03%	-0.61%	17.00%	-22.38%	16.14%	18.22%	36.23%	-14.76%	31.11%
PRJPX T. Rowe Price Japan Fund	11.22%	32.21%	6.13%	2.02%	-27.37%	-11.03%	34.60%	27.56%	-12.24%	32.06%

Correlation

The correlation between DNL and PRJPX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 19, 2006	0.67

The correlation between DNL and PRJPX has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

Return for Risk

DNL vs. PRJPX — Risk / Return Rank

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

DNL

DNL Risk / Return Rank: 31
DNL Sharpe Ratio Rank: 29
DNL Sortino Ratio Rank: 30
DNL Omega Ratio Rank: 28
DNL Calmar Ratio Rank: 31
DNL Martin Ratio Rank: 36

PRJPX

PRJPX Risk / Return Rank: 24
PRJPX Sharpe Ratio Rank: 24
PRJPX Sortino Ratio Rank: 25
PRJPX Omega Ratio Rank: 26
PRJPX Calmar Ratio Rank: 22
PRJPX Martin Ratio Rank: 22

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.

DNL vs. PRJPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) and T. Rowe Price Japan Fund (PRJPX). 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.

	DNL	PRJPX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	1.41	-0.33
Sortino ratio: Return per unit of downside risk	1.62	2.06	-0.44
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.07
Calmar ratio: Return relative to maximum drawdown	1.55	1.75	-0.20
Martin ratio: Return relative to average drawdown	5.55	5.59	-0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DNL vs. PRJPX - Sharpe Ratio Comparison

The current DNL Sharpe Ratio is 1.08, which is comparable to the PRJPX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of DNL and PRJPX, 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

	DNL	PRJPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	1.41	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.11	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.45	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.17	+0.09

Drawdowns

DNL vs. PRJPX - Drawdown Comparison

The maximum DNL drawdown since its inception was -44.53%, smaller than the maximum PRJPX drawdown of -68.26%. Use the drawdown chart below to compare losses from any high point for DNL and PRJPX.

Drawdown Indicators

	DNL	PRJPX	Difference
Max Drawdown Largest peak-to-trough decline	-44.53%	-68.26%	+23.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-15.11%	+2.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-17.76%	-2.39%
Max Drawdown (5Y) Largest decline over 5 years	-34.85%	-44.42%	+9.57%
Max Drawdown (10Y) Largest decline over 10 years	-34.85%	-45.44%	+10.59%
Current Drawdown Current decline from peak	-0.96%	-3.09%	+2.13%
Average Drawdown Average peak-to-trough decline	-10.17%	-26.75%	+16.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	4.72%	-1.26%

Volatility

DNL vs. PRJPX - Volatility Comparison

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL) has a higher volatility of 5.51% compared to T. Rowe Price Japan Fund (PRJPX) at 3.47%. This indicates that DNL's price experiences larger fluctuations and is considered to be riskier than PRJPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNL	PRJPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	3.47%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	14.42%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	18.84%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	19.05%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.65%	17.56%	+1.09%

DNL vs. PRJPX - Expense Ratio Comparison

DNL has a 0.58% expense ratio, which is lower than PRJPX's 1.05% expense ratio.

Dividends

DNL vs. PRJPX - Dividend Comparison

DNL's dividend yield for the trailing twelve months is around 1.66%, less than PRJPX's 13.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DNL WisdomTree Global ex-U.S. Quality Dividend Growth Fund	1.66%	2.06%	2.30%	1.81%	4.82%	1.38%	1.76%	1.93%	2.55%	1.86%	2.51%	1.98%
PRJPX T. Rowe Price Japan Fund	13.17%	14.65%	4.82%	1.71%	6.94%	5.42%	2.59%	2.62%	7.56%	0.33%	0.70%	1.05%

Frequently Asked Questions

Can I hold both DNL and PRJPX in my portfolio?

DNL and PRJPX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DNL or PRJPX?

DNL has higher volatility (5.51%) compared to PRJPX (3.47%). In terms of maximum drawdown, DNL dropped -44.53% vs PRJPX's -68.26%.

Which has better risk-adjusted returns?

PRJPX currently has the higher Sharpe Ratio (1.41 vs 1.08), 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.