DXJS vs. DGRW

Last updated Jun 4, 2026

DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and DGRW (WisdomTree U.S. Dividend Growth Fund) are both exchange-traded funds - DXJS is a Japan Equities fund tracking the WisdomTree Japan Hedged SmallCap Equity Index, while DGRW is a Large Cap Growth Equities fund tracking the WisdomTree U.S. Dividend Growth Index. Both are passively managed. Over the past 10 years, DXJS returned 17.36%/yr vs 14.15%/yr for DGRW. A 0.55 correlation means they provide meaningful diversification when combined. DXJS charges 0.58%/yr vs 0.28%/yr for DGRW.

Performance

DXJS vs. DGRW - Performance Comparison

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

Returns By Period

In the year-to-date period, DXJS achieves a 26.16% return, which is significantly higher than DGRW's 9.10% return. Over the past 10 years, DXJS has outperformed DGRW with an annualized return of 17.36%, while DGRW has yielded a comparatively lower 14.15% annualized return.

DXJS

• 1D: -0.02%
• 1M: 2.99%
• YTD: 26.16%
• 6M: 32.96%
• 1Y: 64.97%
• 3Y*: 34.91%
• 5Y*: 25.18%
• 10Y*: 17.36%

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)

DXJS vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	26.16%	37.08%	20.70%	38.96%	5.02%	11.66%	-3.22%	18.24%	-18.69%	29.56%
DGRW WisdomTree U.S. 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 DXJS and DGRW is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013	0.55

The correlation between DXJS and DGRW shifts across timeframes, from 0.41 (3 years) to 0.55 (all time), reflecting how their relationship changes across market environments.

DXJS vs. DGRW - Sectors Allocation Comparison

Sectors	DXJS	DGRW
Industrials	27.6%	9.9%
Consumer Cyclical	19.7%	7.1%
Basic Materials	12.0%	3.3%
Technology	11.2%	32.1%
Financial Services	9.2%	11.3%
Consumer Defensive	8.4%	6.7%
Healthcare	4.4%	12.8%
Real Estate	3.3%	-
Communication Services	1.7%	10.1%
Utilities	1.6%	0.2%
Energy	1.0%	5.0%

Return for Risk

DXJS vs. DGRW — Risk / Return Rank

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

DXJS

DXJS Risk / Return Rank: 91
DXJS Sharpe Ratio Rank: 92
DXJS Sortino Ratio Rank: 91
DXJS Omega Ratio Rank: 87
DXJS Calmar Ratio Rank: 93
DXJS Martin Ratio Rank: 92

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.

DXJS vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and WisdomTree U.S. 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.

	DXJS	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	3.33	2.12	+1.21
Sortino ratio: Return per unit of downside risk	4.34	3.09	+1.26
Omega ratio: Gain probability vs. loss probability	1.55	1.39	+0.16
Calmar ratio: Return relative to maximum drawdown	6.65	2.52	+4.13
Martin ratio: Return relative to average drawdown	23.90	11.03	+12.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DXJS vs. DGRW - Sharpe Ratio Comparison

The current DXJS Sharpe Ratio is 3.33, which is higher than the DGRW Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of DXJS 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

	DXJS	DGRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	2.12	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	0.88	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.88	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.86	-0.10

Drawdowns

DXJS vs. DGRW - Drawdown Comparison

The maximum DXJS drawdown since its inception was -39.30%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for DXJS and DGRW.

Drawdown Indicators

	DXJS	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-32.04%	-7.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-8.30%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-16.21%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	-17.27%	+0.78%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-32.04%	-7.26%
Current Drawdown Current decline from peak	-4.27%	-0.83%	-3.44%
Average Drawdown Average peak-to-trough decline	-6.49%	-3.01%	-3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.89%	+0.84%

Volatility

DXJS vs. DGRW - Volatility Comparison

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) has a higher volatility of 5.08% compared to WisdomTree U.S. Dividend Growth Fund (DGRW) at 2.47%. This indicates that DXJS'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

	DXJS	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	2.47%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	15.39%	7.64%	+7.75%
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	9.88%	+9.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.05%	13.97%	+4.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	16.21%	+3.50%

DXJS vs. DGRW - Expense Ratio Comparison

DXJS has a 0.58% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

DXJS vs. DGRW - Dividend Comparison

DXJS's dividend yield for the trailing twelve months is around 1.50%, more than DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. 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%
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	1.50%	1.78%	4.02%	2.71%	2.63%	2.96%	3.04%	2.17%	2.06%	1.53%	1.66%	3.61%

Frequently Asked Questions

Can I hold both DXJS and DGRW in my portfolio?

DXJS and DGRW have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DXJS or DGRW?

DXJS has higher volatility (5.08%) compared to DGRW (2.47%). In terms of maximum drawdown, DXJS dropped -39.30% vs DGRW's -32.04%.

Which ETF is better, DXJS or DGRW?

On 10-year performance, DXJS leads with 17.36% 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, DXJS or DGRW?

Over the 10-year period, DXJS has performed better with a 17.36% return vs 14.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXJS or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.58% for DXJS.

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

DXJS has the higher dividend yield at 1.50%, compared with 1.27% for DGRW.

What is the main difference between DXJS and DGRW?

DXJS is categorized as Japan Equities, while DGRW is Large Cap Growth Equities. DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index, while DGRW tracks WisdomTree U.S. Dividend Growth Index. Their fees differ too: 0.58% for DXJS and 0.28% for DGRW.

Which has better risk-adjusted returns?

DXJS currently has the higher Sharpe Ratio (3.33 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.