DXJ vs. DGRW

Last updated Jun 4, 2026

DXJ (WisdomTree Japan Hedged Equity Fund) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, DXJ returned 18.33%/yr vs 14.15%/yr for DGRW. A 0.62 correlation means they provide meaningful diversification when combined. DXJ charges 0.48%/yr vs 0.28%/yr for DGRW.

Performance

DXJ vs. DGRW - Performance Comparison

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

Returns By Period

In the year-to-date period, DXJ achieves a 19.64% return, which is significantly higher than DGRW's 9.10% return. Over the past 10 years, DXJ has outperformed DGRW with an annualized return of 18.33%, while DGRW has yielded a comparatively lower 14.15% annualized return.

DXJ

• 1D: 0.74%
• 1M: 7.24%
• YTD: 19.64%
• 6M: 24.36%
• 1Y: 53.93%
• 3Y*: 33.15%
• 5Y*: 26.13%
• 10Y*: 18.33%

DGRW

• 1D: -0.83%
• 1M: 4.06%
• YTD: 9.10%
• 6M: 8.62%
• 1Y: 20.79%
• 3Y*: 16.64%
• 5Y*: 12.17%
• 10Y*: 14.15%

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

DXJ vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJ WisdomTree Japan Hedged Equity Fund	19.64%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	9.10%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between DXJ and DGRW is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 23, 2013	0.62

The correlation between DXJ and DGRW shifts across timeframes, from 0.50 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.

DXJ vs. DGRW - Sectors Allocation Comparison

Sectors	DXJ	DGRW
Industrials	27.4%	9.9%
Financial Services	18.3%	11.3%
Consumer Cyclical	15.6%	7.1%
Technology	12.9%	32.1%
Basic Materials	8.5%	3.3%
Healthcare	6.8%	12.8%
Consumer Defensive	4.7%	6.7%
Communication Services	2.7%	10.1%
Energy	1.7%	5.0%
Utilities	0.1%	0.2%
Real Estate	-	-

Return for Risk

DXJ vs. DGRW — Risk / Return Rank

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

DXJ

DXJ Risk / Return Rank: 88
DXJ Sharpe Ratio Rank: 89
DXJ Sortino Ratio Rank: 89
DXJ Omega Ratio Rank: 88
DXJ Calmar Ratio Rank: 86
DXJ Martin Ratio Rank: 87

DGRW

DGRW Risk / Return Rank: 60
DGRW Sharpe Ratio Rank: 61
DGRW Sortino Ratio Rank: 65
DGRW Omega Ratio Rank: 63
DGRW Calmar Ratio Rank: 50
DGRW Martin Ratio Rank: 61

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. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	3.11	2.12	+0.99
Sortino ratio: Return per unit of downside risk	4.20	3.09	+1.11
Omega ratio: Gain probability vs. loss probability	1.56	1.39	+0.17
Calmar ratio: Return relative to maximum drawdown	4.94	2.52	+2.42
Martin ratio: Return relative to average drawdown	19.29	11.03	+8.26
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. DGRW - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 3.11, which is higher than the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of DXJ and DGRW, 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

	DXJ	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.11	2.12	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.39	0.88	+0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.88	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.86	-0.43

Drawdowns

DXJ vs. DGRW - Drawdown Comparison

The maximum DXJ drawdown since its inception was -49.63%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for DXJ and DGRW.

Drawdown Indicators

	DXJ	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-32.04%	-17.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.98%	-8.30%	-2.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.19%	-16.21%	-5.98%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-17.27%	-4.92%
Max Drawdown (10Y) Largest decline over 10 years	-39.14%	-32.04%	-7.10%
Current Drawdown Current decline from peak	0.00%	-0.83%	+0.83%
Average Drawdown Average peak-to-trough decline	-14.34%	-3.01%	-11.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	1.89%	+0.92%

Volatility

DXJ vs. DGRW - Volatility Comparison

WisdomTree Japan Hedged Equity Fund (DXJ) has a higher volatility of 3.55% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 2.47%. This indicates that DXJ's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXJ	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	2.47%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	13.09%	7.64%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.44%	9.88%	+7.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	13.97%	+4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.18%	16.21%	+3.97%

DXJ vs. DGRW - Expense Ratio Comparison

DXJ has a 0.48% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

DXJ vs. DGRW - Dividend Comparison

DXJ's dividend yield for the trailing twelve months is around 1.08%, less than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
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

Can I hold both DXJ and DGRW in my portfolio?

DXJ and DGRW have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXJ or DGRW?

DXJ has higher volatility (3.55%) compared to DGRW (2.47%). In terms of maximum drawdown, DXJ dropped -49.63% vs DGRW's -32.04%.

Which ETF is better, DXJ or DGRW?

On 10-year performance, DXJ leads with 18.33% vs 14.15% for DGRW. On fees, DGRW is cheaper at 0.28% per year. On volatility, DGRW has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DXJ or DGRW?

Over the 10-year period, DXJ has performed better with a 18.33% return vs 14.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXJ or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.48% for DXJ.

Which ETF pays a higher dividend yield, DXJ or DGRW?

DGRW has the higher dividend yield at 1.27%, compared with 1.08% for DXJ.

What is the main difference between DXJ and DGRW?

DXJ is categorized as Japan Equities, while DGRW is Dividend. DXJ tracks WisdomTree Japan Hedged Equity Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. Their fees differ too: 0.48% for DXJ and 0.28% for DGRW.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.11 vs 2.12), 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.