DXJ vs. DFJ

Last updated Apr 1, 2026

Compare and contrast key facts about WisdomTree Japan Hedged Equity Fund (DXJ) and WisdomTree Japan SmallCap Dividend Fund (DFJ).

DXJ and DFJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006. DFJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan SmallCap Dividend Index. It was launched on Jun 16, 2006. Both DXJ and DFJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DXJ vs. DFJ - Performance Comparison

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

DXJ vs. DFJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJ WisdomTree Japan Hedged Equity Fund	10.00%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%
DFJ WisdomTree Japan SmallCap Dividend Fund	5.94%	31.90%	2.80%	21.81%	-9.00%	0.38%	1.29%	16.98%	-18.53%	32.14%

Returns By Period

In the year-to-date period, DXJ achieves a 10.00% return, which is significantly higher than DFJ's 5.94% return. Over the past 10 years, DXJ has outperformed DFJ with an annualized return of 17.25%, while DFJ has yielded a comparatively lower 9.09% annualized return.

DXJ

• 1D: 2.59%
• 1M: -6.49%
• YTD: 10.00%
• 6M: 24.19%
• 1Y: 46.21%
• 3Y*: 34.37%
• 5Y*: 24.33%
• 10Y*: 17.25%

DFJ

• 1D: 3.53%
• 1M: -9.59%
• YTD: 5.94%
• 6M: 9.16%
• 1Y: 32.42%
• 3Y*: 17.78%
• 5Y*: 8.69%
• 10Y*: 9.09%

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

DXJ vs. DFJ - Expense Ratio Comparison

DXJ has a 0.48% expense ratio, which is lower than DFJ's 0.58% expense ratio.

DFJ

WisdomTree Japan SmallCap Dividend Fund

DXJ

WisdomTree Japan Hedged Equity Fund

Return for Risk

DXJ vs. DFJ — Risk / Return Rank

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

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 92
DXJ Sortino Ratio Rank: 92
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 93
DXJ Martin Ratio Rank: 94

DFJ

DFJ Risk / Return Rank: 86
DFJ Sharpe Ratio Rank: 89
DFJ Sortino Ratio Rank: 90
DFJ Omega Ratio Rank: 86
DFJ Calmar Ratio Rank: 84
DFJ Martin Ratio Rank: 81

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.

DXJ vs. DFJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and WisdomTree Japan SmallCap Dividend Fund (DFJ). 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.

	DXJ	DFJ	Difference
Sharpe ratio Return per unit of total volatility	2.04	1.88	+0.17
Sortino ratio Return per unit of downside risk	2.67	2.54	+0.14
Omega ratio Gain probability vs. loss probability	1.41	1.34	+0.08
Calmar ratio Return relative to maximum drawdown	3.46	2.41	+1.04
Martin ratio Return relative to average drawdown	13.69	8.69	+5.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXJ vs. DFJ - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 2.04, which is comparable to the DFJ Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of DXJ and DFJ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DXJ	DFJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	1.88	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.29	0.55	+0.74
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.54	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.30	+0.11

Correlation

The correlation between DXJ and DFJ is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DXJ vs. DFJ - Dividend Comparison

DXJ's dividend yield for the trailing twelve months is around 1.18%, less than DFJ's 2.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.18%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
DFJ WisdomTree Japan SmallCap Dividend Fund	2.51%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%

Drawdowns

DXJ vs. DFJ - Drawdown Comparison

The maximum DXJ drawdown since its inception was -49.63%, which is greater than DFJ's maximum drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for DXJ and DFJ.

Drawdown Indicators

	DXJ	DFJ	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-46.00%	-3.63%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-13.03%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-29.71%	+7.52%
Max Drawdown (10Y) Largest decline over 10 years	-39.14%	-40.02%	+0.88%
Current Drawdown Current decline from peak	-6.79%	-9.59%	+2.80%
Average Drawdown Average peak-to-trough decline	-14.44%	-11.19%	-3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	3.62%	-0.31%

Volatility

DXJ vs. DFJ - Volatility Comparison

WisdomTree Japan Hedged Equity Fund (DXJ) and WisdomTree Japan SmallCap Dividend Fund (DFJ) have volatilities of 7.80% and 7.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXJ	DFJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.80%	7.65%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	13.70%	12.62%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	17.39%	+5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.91%	15.75%	+3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	16.90%	+3.60%