DXJS vs. FJSCX

Last updated Jun 23, 2026

DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and FJSCX (Fidelity Japan Smaller Companies Fund) are both Japan Equities funds. Over the past 10 years, DXJS returned 16.84%/yr vs 9.69%/yr for FJSCX. A 0.61 correlation means they provide meaningful diversification when combined. DXJS charges 0.58%/yr vs 0.91%/yr for FJSCX.

Performance

DXJS vs. FJSCX - Performance Comparison

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

Returns By Period

In the year-to-date period, DXJS achieves a 23.30% return, which is significantly lower than FJSCX's 26.04% return. Over the past 10 years, DXJS has outperformed FJSCX with an annualized return of 16.84%, while FJSCX has yielded a comparatively lower 9.69% annualized return.

DXJS

• 1D: -2.83%
• 1M: -1.82%
• YTD: 23.30%
• 6M: 24.48%
• 1Y: 60.13%
• 3Y*: 33.69%
• 5Y*: 24.61%
• 10Y*: 16.84%

FJSCX

• 1D: 1.68%
• 1M: 5.86%
• YTD: 26.04%
• 6M: 26.19%
• 1Y: 39.82%
• 3Y*: 20.82%
• 5Y*: 11.14%
• 10Y*: 9.69%

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

DXJS vs. FJSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	23.30%	37.08%	20.70%	38.96%	5.02%	11.66%	-3.22%	18.24%	-18.69%	29.56%
FJSCX Fidelity Japan Smaller Companies Fund	26.04%	26.43%	8.03%	15.15%	-14.49%	-0.36%	4.80%	22.00%	-15.98%	34.56%

Correlation

The correlation between DXJS and FJSCX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013	0.61

The correlation between DXJS and FJSCX has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

Return for Risk

DXJS vs. FJSCX — Risk / Return Rank

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

DXJS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FJSCX

FJSCX Risk / Return Rank: 55
FJSCX Sharpe Ratio Rank: 53
FJSCX Sortino Ratio Rank: 50
FJSCX Omega Ratio Rank: 50
FJSCX Calmar Ratio Rank: 66
FJSCX Martin Ratio Rank: 55

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. FJSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and Fidelity Japan Smaller Companies Fund (FJSCX). 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.

	DXJS	FJSCX	Difference
Sharpe ratio: Return per unit of total volatility	3.08	1.99	+1.10
Sortino ratio: Return per unit of downside risk	4.03	2.75	+1.28
Omega ratio: Gain probability vs. loss probability	1.51	1.35	+0.16
Calmar ratio: Return relative to maximum drawdown	6.24	2.98	+3.25
Martin ratio: Return relative to average drawdown	22.10	10.52	+11.58

DXJS vs. FJSCX - Sharpe Ratio Comparison

The current DXJS Sharpe Ratio is 3.08, which is higher than the FJSCX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of DXJS and FJSCX, 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

DXJS vs. FJSCX - Drawdown Comparison

The maximum DXJS drawdown since its inception was -39.30%, smaller than the maximum FJSCX drawdown of -71.42%. Use the drawdown chart below to compare losses from any high point for DXJS and FJSCX.

Drawdown Indicators

	DXJS	FJSCX	Difference
Max Drawdown Largest peak-to-trough decline	-39.30%	-71.42%	+32.12%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-12.79%	+2.97%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-15.08%	-1.41%
Max Drawdown (5Y) Largest decline over 5 years	-16.49%	-29.74%	+13.25%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-32.10%	-7.20%
Current Drawdown Current decline from peak	-6.44%	0.00%	-6.44%
Average Drawdown Average peak-to-trough decline	-6.49%	-26.61%	+20.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.62%	-0.85%

Volatility

DXJS vs. FJSCX - Volatility Comparison

The current volatility for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) is 5.19%, while Fidelity Japan Smaller Companies Fund (FJSCX) has a volatility of 6.91%. This indicates that DXJS experiences smaller price fluctuations and is considered to be less risky than FJSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DXJS	FJSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	6.91%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	15.61%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	19.20%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	17.52%	+0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	16.11%	+3.61%

DXJS vs. FJSCX - Expense Ratio Comparison

DXJS has a 0.58% expense ratio, which is lower than FJSCX's 0.91% expense ratio.

Dividends

DXJS vs. FJSCX - Dividend Comparison

DXJS has not paid dividends to shareholders, while FJSCX's dividend yield for the trailing twelve months is around 13.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	1.54%	1.78%	4.02%	2.71%	2.63%	2.96%	3.04%	2.17%	2.06%	1.53%	1.66%	3.61%
FJSCX Fidelity Japan Smaller Companies Fund	13.98%	17.62%	4.54%	2.82%	0.05%	12.01%	1.59%	7.13%	5.55%	3.91%	2.83%	1.43%

Frequently Asked Questions

Can I hold both DXJS and FJSCX in my portfolio?

DXJS and FJSCX have a correlation of 0.65, 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 FJSCX?

FJSCX has higher volatility (6.91%) compared to DXJS (5.19%). In terms of maximum drawdown, DXJS dropped -39.30% vs FJSCX's -71.42%.

Which has better risk-adjusted returns?

DXJS currently has the higher Sharpe Ratio (3.08 vs 1.99), 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.