DXJS vs. DLN

Last updated Jun 4, 2026

DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and DLN (WisdomTree US LargeCap Dividend ETF) are both exchange-traded funds - DXJS is a Japan Equities fund tracking the WisdomTree Japan Hedged SmallCap Equity Index, while DLN is a Large Cap Growth Equities fund tracking the WisdomTree LargeCap Dividend Index. Both are passively managed. Over the past 10 years, DXJS returned 17.36%/yr vs 12.68%/yr for DLN. A 0.55 correlation means they provide meaningful diversification when combined. DXJS charges 0.58%/yr vs 0.28%/yr for DLN.

Performance

DXJS vs. DLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and WisdomTree US LargeCap Dividend ETF (DLN). 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 DLN's 9.93% return. Over the past 10 years, DXJS has outperformed DLN with an annualized return of 17.36%, while DLN has yielded a comparatively lower 12.68% 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%

DLN

• 1D: -0.51%
• 1M: 2.93%
• YTD: 9.93%
• 6M: 9.96%
• 1Y: 22.38%
• 3Y*: 18.35%
• 5Y*: 12.22%
• 10Y*: 12.68%

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

DXJS vs. DLN - 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%
DLN WisdomTree US LargeCap Dividend ETF	9.93%	15.53%	19.66%	9.95%	-3.78%	25.60%	4.59%	28.91%	-5.82%	18.22%

Correlation

The correlation between DXJS and DLN is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013	0.55

The correlation between DXJS and DLN shifts across timeframes, from 0.42 (3 years) to 0.55 (all time), reflecting how their relationship changes across market environments.

DXJS vs. DLN - Sectors Allocation Comparison

Sectors	DXJS	DLN
Industrials	27.6%	7.9%
Consumer Cyclical	19.7%	5.0%
Basic Materials	12.0%	1.0%
Technology	11.2%	20.1%
Financial Services	9.2%	18.0%
Consumer Defensive	8.4%	9.3%
Healthcare	4.4%	12.6%
Real Estate	3.3%	4.0%
Communication Services	1.7%	7.8%
Utilities	1.6%	5.9%
Energy	1.0%	8.5%

Return for Risk

DXJS vs. DLN — 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

DLN

DLN Risk / Return Rank: 77
DLN Sharpe Ratio Rank: 76
DLN Sortino Ratio Rank: 80
DLN Omega Ratio Rank: 75
DLN Calmar Ratio Rank: 73
DLN Martin Ratio Rank: 79

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. DLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and WisdomTree US LargeCap Dividend ETF (DLN). 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	DLN	Difference
Sharpe ratio: Return per unit of total volatility	3.33	2.53	+0.79
Sortino ratio: Return per unit of downside risk	4.34	3.64	+0.70
Omega ratio: Gain probability vs. loss probability	1.55	1.46	+0.10
Calmar ratio: Return relative to maximum drawdown	6.65	3.69	+2.96
Martin ratio: Return relative to average drawdown	23.90	15.59	+8.31
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. DLN - Sharpe Ratio Comparison

The current DXJS Sharpe Ratio is 3.33, which is higher than the DLN Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of DXJS and DLN, 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	DLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	2.53	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.40	0.93	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.79	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.53	+0.23

Drawdowns

DXJS vs. DLN - Drawdown Comparison

The maximum DXJS drawdown since its inception was -39.30%, smaller than the maximum DLN drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for DXJS and DLN.

Drawdown Indicators

	DXJS	DLN	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-57.84%	+18.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-6.10%	-3.72%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-13.71%	-2.78%
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	-16.26%	-0.23%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-35.82%	-3.48%
Current Drawdown Current decline from peak	-4.27%	-0.51%	-3.76%
Average Drawdown Average peak-to-trough decline	-6.49%	-7.52%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.44%	+1.29%

Volatility

DXJS vs. DLN - Volatility Comparison

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) has a higher volatility of 5.08% compared to WisdomTree US LargeCap Dividend ETF (DLN) at 2.17%. This indicates that DXJS's price experiences larger fluctuations and is considered to be riskier than DLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXJS	DLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	2.17%	+2.91%
Volatility (6M) Calculated over the trailing 6-month period	15.39%	6.77%	+8.62%
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	8.87%	+10.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.05%	13.26%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	16.16%	+3.55%

DXJS vs. DLN - Expense Ratio Comparison

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

Dividends

DXJS vs. DLN - Dividend Comparison

DXJS's dividend yield for the trailing twelve months is around 1.50%, less than DLN's 1.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLN WisdomTree US LargeCap Dividend ETF	1.79%	1.90%	2.00%	2.43%	2.53%	2.01%	2.66%	2.51%	2.90%	2.33%	2.64%	2.80%
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 DLN in my portfolio?

DXJS and DLN have a correlation of 0.45, 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 DLN?

DXJS has higher volatility (5.08%) compared to DLN (2.17%). In terms of maximum drawdown, DXJS dropped -39.30% vs DLN's -57.84%.

Which ETF is better, DXJS or DLN?

On 10-year performance, DXJS leads with 17.36% vs 12.68% for DLN. On fees, DLN is cheaper at 0.28% per year. On volatility, DLN has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DXJS or DLN?

Over the 10-year period, DXJS has performed better with a 17.36% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DXJS or DLN?

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

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

DLN has the higher dividend yield at 1.79%, compared with 1.50% for DXJS.

What is the main difference between DXJS and DLN?

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

Which has better risk-adjusted returns?

DXJS currently has the higher Sharpe Ratio (3.33 vs 2.53), 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.