FLN vs. DXJ

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Latin America AlphaDEX Fund (FLN) and WisdomTree Japan Hedged Equity Fund (DXJ).

FLN and DXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLN is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Latin America Index. It was launched on Apr 18, 2011. DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006. Both FLN and DXJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FLN vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Latin America AlphaDEX Fund (FLN) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

FLN vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLN First Trust Latin America AlphaDEX Fund	13.57%	55.05%	-23.10%	29.68%	2.73%	-6.94%	-12.27%	27.22%	-8.31%	21.54%
DXJ WisdomTree Japan Hedged Equity Fund	10.00%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Returns By Period

In the year-to-date period, FLN achieves a 13.57% return, which is significantly higher than DXJ's 10.00% return. Over the past 10 years, FLN has underperformed DXJ with an annualized return of 9.71%, while DXJ has yielded a comparatively higher 17.25% annualized return.

FLN

• 1D: 3.41%
• 1M: -4.91%
• YTD: 13.57%
• 6M: 21.94%
• 1Y: 53.52%
• 3Y*: 19.30%
• 5Y*: 12.67%
• 10Y*: 9.71%

DXJ

• 1D: 2.59%
• 1M: -6.49%
• YTD: 10.00%
• 6M: 24.19%
• 1Y: 46.21%
• 3Y*: 34.37%
• 5Y*: 24.33%
• 10Y*: 17.25%

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

FLN vs. DXJ - Expense Ratio Comparison

FLN has a 0.80% expense ratio, which is higher than DXJ's 0.48% expense ratio.

FLN

First Trust Latin America AlphaDEX Fund

DXJ

WisdomTree Japan Hedged Equity Fund

Return for Risk

FLN vs. DXJ — Risk / Return Rank

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

FLN

FLN Risk / Return Rank: 94
FLN Sharpe Ratio Rank: 95
FLN Sortino Ratio Rank: 93
FLN Omega Ratio Rank: 92
FLN Calmar Ratio Rank: 96
FLN Martin Ratio Rank: 94

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 92
DXJ Sortino Ratio Rank: 92
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 93
DXJ Martin Ratio Rank: 94

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.

FLN vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Latin America AlphaDEX Fund (FLN) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

	FLN	DXJ	Difference
Sharpe ratio Return per unit of total volatility	2.34	2.04	+0.30
Sortino ratio Return per unit of downside risk	2.86	2.67	+0.19
Omega ratio Gain probability vs. loss probability	1.41	1.41	0.00
Calmar ratio Return relative to maximum drawdown	4.60	3.46	+1.14
Martin ratio Return relative to average drawdown	14.39	13.69	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLN vs. DXJ - Sharpe Ratio Comparison

The current FLN Sharpe Ratio is 2.34, which is comparable to the DXJ Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of FLN and DXJ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLN	DXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.04	+0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	1.29	-0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.84	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.41	-0.32

Correlation

The correlation between FLN and DXJ is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FLN vs. DXJ - Dividend Comparison

FLN's dividend yield for the trailing twelve months is around 3.53%, more than DXJ's 1.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLN First Trust Latin America AlphaDEX Fund	3.53%	3.40%	6.26%	4.17%	5.57%	4.70%	1.64%	1.91%	3.08%	10.28%	1.06%	2.34%
DXJ WisdomTree Japan Hedged Equity Fund	1.18%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%

Drawdowns

FLN vs. DXJ - Drawdown Comparison

The maximum FLN drawdown since its inception was -57.95%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for FLN and DXJ.

Drawdown Indicators

	FLN	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-57.95%	-49.63%	-8.32%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-12.65%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	-25.95%	-22.19%	-3.76%
Max Drawdown (10Y) Largest decline over 10 years	-57.75%	-39.14%	-18.61%
Current Drawdown Current decline from peak	-5.74%	-6.79%	+1.05%
Average Drawdown Average peak-to-trough decline	-19.07%	-14.44%	-4.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	3.31%	+0.34%

Volatility

FLN vs. DXJ - Volatility Comparison

First Trust Latin America AlphaDEX Fund (FLN) has a higher volatility of 11.49% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 7.80%. This indicates that FLN's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLN	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.49%	7.80%	+3.69%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	13.70%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	22.97%	22.77%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.55%	18.91%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.73%	20.50%	+7.23%