DXJS vs. JPAN

Last updated Jul 17, 2026

DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and JPAN (Matthews Japan Active ETF) are both Japan Equities funds. DXJS is passively managed, while JPAN is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. DXJS charges 0.58%/yr vs 0.79%/yr for JPAN.

Performance

DXJS vs. JPAN - Performance Comparison

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

Returns By Period

DXJS

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPAN

• 1D: -1.89%
• 1M: -1.88%
• 6M: 9.33%
• YTD: 16.24%
• 1Y: 32.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DXJS vs. JPAN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	23.30%	37.08%	20.70%	4.68%
JPAN Matthews Japan Active ETF	16.24%	22.96%	18.16%	5.17%

Correlation

The correlation between DXJS and JPAN is 0.68, 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	0.68
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.65

The correlation between DXJS and JPAN has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.

Return for Risk

DXJS vs. JPAN — 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.

JPAN

JPAN Risk / Return Rank: 57
JPAN Sharpe Ratio Rank: 58
JPAN Sortino Ratio Rank: 58
JPAN Omega Ratio Rank: 58
JPAN Calmar Ratio Rank: 55
JPAN Martin Ratio Rank: 57

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. JPAN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and Matthews Japan Active ETF (JPAN). 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	JPAN	Difference
Sharpe ratio: Return per unit of total volatility	—	1.56	—
Sortino ratio: Return per unit of downside risk	—	2.22	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.23	—
Martin ratio: Return relative to average drawdown	—	7.92	—

Drawdowns

Drawdown Indicators

	DXJS	JPAN	Difference
Max Drawdown Largest peak-to-trough decline	—	-15.24%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.59%	—
Current Drawdown Current decline from peak	—	-4.77%	—
Average Drawdown Average peak-to-trough decline	—	-3.10%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.10%	—

Volatility

Volatility by Period

	DXJS	JPAN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	20.79%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.52%	—

DXJS vs. JPAN - Expense Ratio Comparison

DXJS has a 0.58% expense ratio, which is lower than JPAN's 0.79% expense ratio.

Dividends

DXJS vs. JPAN - Dividend Comparison

DXJS has not paid dividends to shareholders, while JPAN's dividend yield for the trailing twelve months is around 4.39%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	0.53%	1.78%	4.02%	2.71%	2.63%	2.96%	3.04%	2.17%	2.06%	1.53%	1.66%	3.61%
JPAN Matthews Japan Active ETF	4.39%	5.10%	1.53%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DXJS and JPAN in my portfolio?

DXJS and JPAN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DXJS or JPAN?

On fees, DXJS is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DXJS or JPAN?

DXJS is cheaper with a 0.58% expense ratio, compared with 0.79% for JPAN.

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

JPAN has the higher dividend yield at 4.39%, compared with 0.53% for DXJS.

What is the main difference between DXJS and JPAN?

They also come from different issuers: WisdomTree and Matthews. Their fees differ too: 0.58% for DXJS and 0.79% for JPAN.