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DXJ vs. FLJH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DXJ vs. FLJH

Last updated Jun 24, 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 26.40%/yr vs 20.87%/yr for FLJH. Their correlation of 0.89 suggests significant overlap in exposure. 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.

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Returns By Period

The year-to-date returns for both investments are quite close, with DXJ having a 20.23% return and FLJH slightly higher at 20.28%.

DXJ

1D
-3.57%
1M
2.21%
YTD
20.23%
6M
20.18%
1Y
55.89%
3Y*
31.66%
5Y*
26.40%
10Y*
19.25%

FLJH

1D
-4.00%
1M
2.70%
YTD
20.28%
6M
20.23%
1Y
46.99%
3Y*
27.12%
5Y*
20.87%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

DXJ vs. FLJH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DXJ
WisdomTree Japan Hedged Equity Fund		20.23%32.78%29.83%42.04%5.96%17.99%3.94%18.94%-19.78%1.82%
FLJH
Franklin FTSE Japan Hedged ETF		20.28%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 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year 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

27.4%
25.2%

Financial Services

18.3%
15.8%

Consumer Cyclical

15.6%
12.7%

Technology

12.9%
19.4%

Basic Materials

8.5%
4.4%

Healthcare

6.8%
5.5%

Consumer Defensive

4.7%
4.0%

Communication Services

2.7%
8.0%

Energy

1.7%
0.9%

Utilities

0.1%
1.2%

Real Estate

-

3.0%

Industrials

DXJ
27.4%
FLJH
25.2%

Financial Services

DXJ
18.3%
FLJH
15.8%

Consumer Cyclical

DXJ
15.6%
FLJH
12.7%

Technology

DXJ
12.9%
FLJH
19.4%

Basic Materials

DXJ
8.5%
FLJH
4.4%

Healthcare

DXJ
6.8%
FLJH
5.5%

Consumer Defensive

DXJ
4.7%
FLJH
4.0%

Communication Services

DXJ
2.7%
FLJH
8.0%

Energy

DXJ
1.7%
FLJH
0.9%

Utilities

DXJ
0.1%
FLJH
1.2%

Real Estate

DXJ

-

FLJH
3.0%

Compare stocks, funds, or ETFs

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WisdomTree Japan Hedged Equity Fund

Franklin FTSE Japan Hedged ETF

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Often compared with FLJH:
FLJH vs. FLJPFLJH vs. EWJVFLJH vs. HEWJFLJH vs. EWJFLJH vs. DBJPFLJH vs. SCHDFLJH vs. OARK

Return for Risk

DXJ vs. FLJH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DXJ
DXJ Risk / Return Rank: 9090
Overall Rank
DXJ Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DXJ Sortino Ratio Rank: 9090
Sortino Ratio Rank
DXJ Omega Ratio Rank: 9090
Omega Ratio Rank
DXJ Calmar Ratio Rank: 8989
Calmar Ratio Rank
DXJ Martin Ratio Rank: 9090
Martin Ratio Rank
FLJH
FLJH Risk / Return Rank: 8282
Overall Rank
FLJH Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
FLJH Sortino Ratio Rank: 7979
Sortino Ratio Rank
FLJH Omega Ratio Rank: 8181
Omega Ratio Rank
FLJH Calmar Ratio Rank: 8484
Calmar Ratio Rank
FLJH Martin Ratio Rank: 8585
Martin Ratio Rank
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. 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.

DXJFLJHDifference
Sharpe ratioReturn per unit of total volatility
3.10
2.49

+0.61

Sortino ratioReturn per unit of downside risk
4.02
3.31

+0.71

Omega ratioGain probability vs. loss probability

1.55

1.46

+0.10

Calmar ratioReturn relative to maximum drawdown

5.12

4.37

+0.74

Martin ratioReturn relative to average drawdown

19.78

16.90

+2.89

DXJ vs. FLJH - Sharpe Ratio Comparison

The current DXJ Sharpe Ratio is 3.10, which is comparable to the FLJH Sharpe Ratio of 2.49. 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.

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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.

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Drawdown Indicators

DXJFLJHDifference

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

-3.57%

-4.00%

+0.43%

Average Drawdown

Average peak-to-trough decline

-14.30%

-5.29%

-9.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

2.79%

+0.04%

Volatility

DXJ vs. FLJH - Volatility Comparison

The current volatility for WisdomTree Japan Hedged Equity Fund (DXJ) is 6.28%, while Franklin FTSE Japan Hedged ETF (FLJH) has a volatility of 7.15%. This indicates that DXJ experiences smaller price fluctuations and is considered to be less risky than FLJH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DXJFLJHDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.28%

7.15%

-0.87%

Volatility (6M)

Calculated over the trailing 6-month period

14.08%

14.83%

-0.75%

Volatility (1Y)

Calculated over the trailing 1-year period

18.14%

18.98%

-0.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.08%

18.71%

+0.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.00%

19.89%

+0.11%

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 1.08%, less than FLJH's 1.86% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
FLJH
Franklin FTSE Japan Hedged ETF		1.86%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

With a correlation of 0.93, 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.

FLJH has higher volatility (7.15%) compared to DXJ (6.28%). In terms of maximum drawdown, DXJ dropped -49.63% vs FLJH's -31.51%.

On 5-year performance, DXJ leads with 26.40% vs 20.87% for FLJH. On fees, FLJH is cheaper at 0.09% per year. On volatility, DXJ has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DXJ has performed better with a 26.40% return vs 20.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

FLJH has the higher dividend yield at 1.86%, compared with 1.08% for DXJ.

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.

DXJ currently has the higher Sharpe Ratio (3.10 vs 2.49), 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.

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