DXJS vs. UGA

Last updated Aug 6, 2026

DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and UGA (United States Gasoline Fund, LP) are both exchange-traded funds - DXJS is a Japan Equities fund tracking the WisdomTree Japan Hedged SmallCap Equity Index, while UGA is a Oil & Gas fund tracking the Near-Month NYMEX RBOB Gasoline Futures Contract. Both are passively managed. Their 0.13 correlation means their historical movements had little consistent relationship. DXJS charges 0.58%/yr vs 1.02%/yr for UGA.

Performance

DXJS vs. UGA - Performance Comparison

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

Returns By Period

DXJS

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

UGA

• 1D: -0.56%
• 1M: 0.07%
• 6M: 54.03%
• YTD: 72.77%
• 1Y: 71.49%
• 3Y*: 14.87%
• 5Y*: 24.07%
• 10Y*: 16.28%
• ALL TIME*: 4.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
UGA United States Gasoline Fund, LP	$8.67M	$6.11M	$4.99M

DXJS vs. UGA - 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%
UGA United States Gasoline Fund, LP	72.77%	-2.00%	3.77%	1.27%	46.34%	68.49%	-24.88%	41.25%	-28.07%	1.69%

Correlation

The correlation between DXJS and UGA is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.14
Correlation (3Y) Balances recent behavior with more history.	-0.04
Correlation (5Y) Shows whether the relationship held over a longer period.	0.06
Correlation (10Y) Provides a long-term view across more market conditions.	0.13
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013	0.13

The correlation between DXJS and UGA shifts across timeframes, from -0.14 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DXJS vs. UGA — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

UGA

UGA Risk / Return Rank: 72
UGA Sharpe Ratio Rank: 76
UGA Sortino Ratio Rank: 66
UGA Omega Ratio Rank: 67
UGA Calmar Ratio Rank: 84
UGA Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DXJS vs. UGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) and United States Gasoline Fund, LP (UGA). 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	UGA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.96	—
Sortino ratio: Return per unit of downside risk	—	2.47	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	3.54	—
Martin ratio: Return relative to average drawdown	—	9.75	—

Drawdowns

Drawdown Indicators

	DXJS	UGA	Difference
Max Drawdown Largest peak-to-trough decline	—	-86.59%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-20.32%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-75.89%	—
Current Drawdown Current decline from peak	—	-14.67%	—
Average Drawdown Average peak-to-trough decline	—	-36.52%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.36%	—

Volatility

Volatility by Period

	DXJS	UGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	36.60%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	34.71%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	37.31%	—

DXJS vs. UGA - Expense Ratio Comparison

DXJS has a 0.58% expense ratio, which is lower than UGA's 1.02% expense ratio.

Dividends

DXJS vs. UGA - Dividend Comparison

Neither DXJS nor UGA has paid dividends to shareholders.

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%
UGA United States Gasoline Fund, LP	0.00%	0.00%	0.00%	0.00%	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 UGA in my portfolio?

DXJS and UGA have a correlation of -0.14, 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 UGA?

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 UGA?

DXJS is cheaper with a 0.58% expense ratio, compared with 1.02% for UGA.

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

DXJS has the higher dividend yield at 0.53%, compared with 0.00% for UGA.

What is the main difference between DXJS and UGA?

DXJS is categorized as Japan Equities, while UGA is Oil & Gas. DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index, while UGA tracks Near-Month NYMEX RBOB Gasoline Futures Contract. They also come from different issuers: WisdomTree and USCF. Their fees differ too: 0.58% for DXJS and 1.02% for UGA.