DXJ vs. FLJH

Last updated Aug 4, 2026

DXJ (WisdomTree Japan Hedged Equity Fund) and FLJH (Franklin FTSE Japan Hedged ETF) are both Japan Equities funds - DXJ tracks the WisdomTree Japan Hedged Equity Index while FLJH tracks the FTSE Japan RIC Capped Hedged to USD Net Tax Index. Both are passively managed. Over the past 5 years, DXJ returned 26.79%/yr vs 20.83%/yr for FLJH. Their correlation of 0.89 means they have usually moved in the same direction. DXJ charges 0.48%/yr vs 0.09%/yr for FLJH.

Performance

DXJ vs. FLJH - Performance Comparison

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

Returns By Period

In the year-to-date period, DXJ achieves a 19.19% return, which is significantly higher than FLJH's 17.59% return.

DXJ

• 1D: -1.70%
• 1M: -2.32%
• 6M: 11.80%
• YTD: 19.19%
• 1Y: 46.73%
• 3Y*: 30.24%
• 5Y*: 26.79%
• 10Y*: 18.44%
• ALL TIME*: 9.34%

FLJH

• 1D: -0.29%
• 1M: -2.85%
• 6M: 11.67%
• YTD: 17.59%
• 1Y: 37.64%
• 3Y*: 25.95%
• 5Y*: 20.83%
• 10Y*: —
• ALL TIME*: 14.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DXJ WisdomTree Japan Hedged Equity Fund	$74.17M	$64.25M	$59.52M
FLJH Franklin FTSE Japan Hedged ETF	$3.00M	$2.06M	$1.54M

DXJ vs. FLJH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJ WisdomTree Japan Hedged Equity Fund	19.19%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	1.82%
FLJH Franklin FTSE Japan Hedged ETF	17.59%	25.26%	25.89%	36.02%	-2.75%	12.68%	10.65%	20.34%	-14.66%	1.26%

Correlation

The correlation between DXJ and FLJH is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.89

The correlation between DXJ and FLJH has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

DXJ vs. FLJH - Sectors Allocation Comparison

Sectors	DXJ	FLJH
Industrials	29.5%	23.5%
Financial Services	18.3%	16.2%
Consumer Cyclical	13.3%	12.1%
Technology	12.9%	23.1%
Basic Materials	9.1%	4.0%
Healthcare	6.8%	5.2%
Consumer Defensive	4.7%	4.0%
Communication Services	2.3%	7.1%
Energy	1.7%	0.8%
Utilities	0.1%	1.2%
Real Estate	-	2.9%

Return for Risk

DXJ vs. FLJH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DXJ

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

FLJH

FLJH Risk / Return Rank: 83
FLJH Sharpe Ratio Rank: 83
FLJH Sortino Ratio Rank: 80
FLJH Omega Ratio Rank: 82
FLJH Calmar Ratio Rank: 87
FLJH Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DXJ vs. FLJH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged Equity Fund (DXJ) and Franklin FTSE Japan Hedged ETF (FLJH). 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	FLJH	Difference
Sharpe ratio: Return per unit of total volatility	2.60	1.98	+0.62
Sortino ratio: Return per unit of downside risk	3.38	2.66	+0.72
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.10
Calmar ratio: Return relative to maximum drawdown	4.28	3.50	+0.78
Martin ratio: Return relative to average drawdown	15.89	12.36	+3.53

DXJ vs. FLJH - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 2.60, which is higher than the FLJH Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of DXJ and FLJH, 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. FLJH - Drawdown Comparison

The maximum DXJ drawdown since its inception was -49.63%, which is greater than FLJH's maximum drawdown of -31.51%. Use the drawdown chart below to compare losses from any high point for DXJ and FLJH.

Drawdown Indicators

	DXJ	FLJH	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-31.51%	-18.12%
Max Drawdown (1Y) Largest decline over 1 year	-10.98%	-10.80%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-22.19%	-20.39%	-1.80%
Max Drawdown (5Y) Largest decline over 5 years	-22.19%	-20.39%	-1.80%
Max Drawdown (10Y) Largest decline over 10 years	-39.14%	—	—
Current Drawdown Current decline from peak	-5.05%	-6.15%	+1.10%
Average Drawdown Average peak-to-trough decline	-14.24%	-5.27%	-8.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.05%	-0.10%

Volatility

DXJ vs. FLJH - Volatility Comparison

WisdomTree Japan Hedged Equity Fund (DXJ) and Franklin FTSE Japan Hedged ETF (FLJH) have volatilities of 6.27% and 6.30%, 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	FLJH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	6.30%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	15.22%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	18.12%	19.14%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.09%	18.76%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	19.88%	+0.03%

DXJ vs. FLJH - Expense Ratio Comparison

DXJ has a 0.48% expense ratio, which is higher than FLJH's 0.09% expense ratio.

Dividends

DXJ vs. FLJH - Dividend Comparison

DXJ's dividend yield for the trailing twelve months is around 0.98%, less than FLJH's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	0.98%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
FLJH Franklin FTSE Japan Hedged ETF	2.56%	3.90%	5.06%	25.59%	26.67%	1.29%	0.00%	0.00%	5.92%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXJ and FLJH in my portfolio?

With a correlation of 0.92, DXJ and FLJH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DXJ or FLJH?

FLJH has higher volatility (6.30%) compared to DXJ (6.27%). In terms of maximum drawdown, DXJ dropped -49.63% vs FLJH's -31.51%.

Which ETF is better, DXJ or FLJH?

On 5-year performance, DXJ leads with 26.79% vs 20.83% for FLJH. On fees, FLJH is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DXJ or FLJH?

Over the 5-year period, DXJ has performed better with a 26.79% return vs 20.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXJ or FLJH?

FLJH is cheaper with a 0.09% expense ratio, compared with 0.48% for DXJ.

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

FLJH has the higher dividend yield at 2.56%, compared with 0.98% for DXJ.

What is the main difference between DXJ and FLJH?

DXJ tracks WisdomTree Japan Hedged Equity Index, while FLJH tracks FTSE Japan RIC Capped Hedged to USD Net Tax Index. They also come from different issuers: WisdomTree and Franklin Templeton. Their fees differ too: 0.48% for DXJ and 0.09% for FLJH.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (2.60 vs 1.98), 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.