DXJ vs. ESPO

Last updated Jun 13, 2026

DXJ (WisdomTree Japan Hedged Equity Fund) and ESPO (VanEck Vectors Video Gaming and eSports ETF) are both exchange-traded funds - DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index, while ESPO is a Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports Index. Both are passively managed. Over the past 5 years, DXJ returned 26.01%/yr vs 5.49%/yr for ESPO. At a 0.48 correlation, their price movements are largely independent. DXJ charges 0.48%/yr vs 0.55%/yr for ESPO.

Performance

DXJ vs. ESPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Hedged Equity Fund (DXJ) and VanEck Vectors Video Gaming and eSports ETF (ESPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DXJ achieves a 18.74% return, which is significantly higher than ESPO's -15.10% return.

DXJ

• 1D: 0.74%
• 1M: -0.20%
• YTD: 18.74%
• 6M: 19.84%
• 1Y: 53.35%
• 3Y*: 30.91%
• 5Y*: 26.01%
• 10Y*: 18.72%

ESPO

• 1D: -0.29%
• 1M: -3.31%
• YTD: -15.10%
• 6M: -16.17%
• 1Y: -14.92%
• 3Y*: 16.96%
• 5Y*: 5.49%
• 10Y*: —

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

DXJ vs. ESPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DXJ WisdomTree Japan Hedged Equity Fund	18.74%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-15.20%
ESPO VanEck Vectors Video Gaming and eSports ETF	-15.10%	25.79%	47.61%	33.64%	-34.71%	-2.13%	83.93%	42.36%	-12.49%

Correlation

The correlation between DXJ and ESPO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.48

DXJ vs. ESPO - Sectors Allocation Comparison

Sectors	DXJ	ESPO
Industrials	27.4%	-
Financial Services	18.3%	-
Consumer Cyclical	15.6%	13.8%
Technology	12.9%	8.2%
Basic Materials	8.5%	-
Healthcare	6.8%	-
Consumer Defensive	4.7%	-
Communication Services	2.7%	78.1%
Energy	1.7%	-
Utilities	0.1%	-
Real Estate	-	-

Return for Risk

DXJ vs. ESPO — Risk / Return Rank

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

DXJ

DXJ Risk / Return Rank: 92
DXJ Sharpe Ratio Rank: 93
DXJ Sortino Ratio Rank: 93
DXJ Omega Ratio Rank: 92
DXJ Calmar Ratio Rank: 90
DXJ Martin Ratio Rank: 91

ESPO

ESPO Risk / Return Rank: 4
ESPO Sharpe Ratio Rank: 3
ESPO Sortino Ratio Rank: 4
ESPO Omega Ratio Rank: 4
ESPO Calmar Ratio Rank: 5
ESPO Martin Ratio Rank: 5

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. ESPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and VanEck Vectors Video Gaming and eSports ETF (ESPO). 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.

	DXJ	ESPO	Difference
Sharpe ratio: Return per unit of total volatility	3.02	-0.80	+3.82
Sortino ratio: Return per unit of downside risk	4.04	-1.02	+5.06
Omega ratio: Gain probability vs. loss probability	1.54	0.88	+0.66
Calmar ratio: Return relative to maximum drawdown	4.88	-0.54	+5.42
Martin ratio: Return relative to average drawdown	18.93	-0.94	+19.87

DXJ vs. ESPO - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 3.02, which is higher than the ESPO Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of DXJ and ESPO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DXJ vs. ESPO - Drawdown Comparison

The maximum DXJ drawdown since its inception was -49.63%, roughly equal to the maximum ESPO drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for DXJ and ESPO.

Drawdown Indicators

	DXJ	ESPO	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-50.99%	+1.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.98%	-27.81%	+16.83%
Max Drawdown (3Y) Largest decline over 3 years	-22.19%	-27.81%	+5.62%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-48.33%	+26.14%
Max Drawdown (10Y) Largest decline over 10 years	-39.14%	—	—
Current Drawdown Current decline from peak	-1.34%	-27.19%	+25.85%
Average Drawdown Average peak-to-trough decline	-14.32%	-15.06%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	15.95%	-13.12%

Volatility

DXJ vs. ESPO - Volatility Comparison

WisdomTree Japan Hedged Equity Fund (DXJ) and VanEck Vectors Video Gaming and eSports ETF (ESPO) have volatilities of 4.64% and 4.42%, 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	ESPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	4.42%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	13.56%	14.67%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	18.83%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	25.10%	-6.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.17%	25.71%	-5.54%

DXJ vs. ESPO - Expense Ratio Comparison

DXJ has a 0.48% expense ratio, which is lower than ESPO's 0.55% expense ratio.

Dividends

DXJ vs. ESPO - Dividend Comparison

DXJ's dividend yield for the trailing twelve months is around 1.09%, less than ESPO's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.09%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
ESPO VanEck Vectors Video Gaming and eSports ETF	1.47%	1.24%	0.44%	0.96%	0.91%	3.36%	0.12%	0.22%	0.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXJ and ESPO in my portfolio?

DXJ and ESPO have a correlation of 0.41, 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 ESPO?

DXJ has higher volatility (4.64%) compared to ESPO (4.42%). In terms of maximum drawdown, DXJ dropped -49.63% vs ESPO's -50.99%.

Which ETF is better, DXJ or ESPO?

On 5-year performance, DXJ leads with 26.01% vs 5.49% for ESPO. On fees, DXJ is cheaper at 0.48% per year. On volatility, ESPO has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DXJ or ESPO?

Over the 5-year period, DXJ has performed better with a 26.01% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXJ or ESPO?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.55% for ESPO.

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

ESPO has the higher dividend yield at 1.47%, compared with 1.09% for DXJ.

What is the main difference between DXJ and ESPO?

DXJ is categorized as Japan Equities, while ESPO is Large Cap Growth Equities. DXJ tracks WisdomTree Japan Hedged Equity Index, while ESPO tracks MVIS Global Video Gaming and eSports Index. They also come from different issuers: WisdomTree and VanEck. Their fees differ too: 0.48% for DXJ and 0.55% for ESPO.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (3.02 vs -0.80), 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.