HEDJ vs. NTSX
HEDJ (WisdomTree Europe Hedged Equity Fund) and NTSX (WisdomTree U.S. Efficient Core Fund) are both exchange-traded funds - HEDJ is a Europe Equities fund tracking the WisdomTree Europe Hedged Equity Index, while NTSX is a Diversified Portfolio fund actively managed by WisdomTree. HEDJ is passively managed, while NTSX is actively managed. Over the past 5 years, HEDJ returned 11.09%/yr vs 8.85%/yr for NTSX. A 0.67 correlation means they provide meaningful diversification when combined. HEDJ charges 0.58%/yr vs 0.20%/yr for NTSX.
Performance
HEDJ vs. NTSX - Performance Comparison
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Returns By Period
In the year-to-date period, HEDJ achieves a 8.05% return, which is significantly higher than NTSX's 6.46% return.
HEDJ
- 1D
- -1.17%
- 1M
- 2.23%
- YTD
- 8.05%
- 6M
- 8.83%
- 1Y
- 20.81%
- 3Y*
- 15.42%
- 5Y*
- 11.09%
- 10Y*
- 11.67%
NTSX
- 1D
- -0.89%
- 1M
- -0.87%
- YTD
- 6.46%
- 6M
- 5.53%
- 1Y
- 21.24%
- 3Y*
- 18.24%
- 5Y*
- 8.85%
- 10Y*
- —
HEDJ vs. NTSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HEDJ WisdomTree Europe Hedged Equity Fund | 8.05% | 23.55% | 5.28% | 26.89% | -10.09% | 23.54% | -3.35% | 27.50% | -13.81% |
NTSX WisdomTree U.S. Efficient Core Fund | 6.46% | 18.82% | 20.20% | 22.70% | -25.84% | 22.21% | 24.87% | 32.03% | -7.87% |
Correlation
The correlation between HEDJ and NTSX is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2018 | 0.67 |
The correlation between HEDJ and NTSX has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
HEDJ vs. NTSX — Risk / Return Rank
HEDJ
NTSX
HEDJ vs. NTSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Hedged Equity Fund (HEDJ) and WisdomTree U.S. Efficient Core Fund (NTSX). 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.
| HEDJ | NTSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 2.33 | -0.57 |
| Martin ratioReturn relative to average drawdown | 7.14 | 9.93 | -2.79 |
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Drawdowns
HEDJ vs. NTSX - Drawdown Comparison
The maximum HEDJ drawdown since its inception was -38.18%, which is greater than NTSX's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for HEDJ and NTSX.
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Drawdown Indicators
| HEDJ | NTSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.18% | -31.34% | -6.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -9.16% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -15.93% | -16.82% | +0.89% |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | -31.34% | +9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -38.18% | — | — |
Current DrawdownCurrent decline from peak | -1.38% | -3.02% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -6.76% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.14% | +0.78% |
Volatility
HEDJ vs. NTSX - Volatility Comparison
The current volatility for WisdomTree Europe Hedged Equity Fund (HEDJ) is 4.84%, while WisdomTree U.S. Efficient Core Fund (NTSX) has a volatility of 5.26%. This indicates that HEDJ experiences smaller price fluctuations and is considered to be less risky than NTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEDJ | NTSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 5.26% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.12% | 10.56% | +2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.77% | 13.13% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 17.17% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 18.29% | -0.11% |
HEDJ vs. NTSX - Expense Ratio Comparison
HEDJ has a 0.58% expense ratio, which is higher than NTSX's 0.20% expense ratio.
Dividends
HEDJ vs. NTSX - Dividend Comparison
HEDJ's dividend yield for the trailing twelve months is around 1.51%, more than NTSX's 1.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEDJ WisdomTree Europe Hedged Equity Fund | 1.51% | 1.63% | 3.28% | 3.31% | 2.83% | 2.08% | 2.65% | 1.82% | 2.73% | 2.27% | 2.74% | 9.43% |
NTSX WisdomTree U.S. Efficient Core Fund | 1.10% | 1.14% | 1.14% | 1.21% | 1.36% | 0.82% | 0.92% | 1.42% | 0.62% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HEDJ and NTSX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NTSX has higher volatility (5.26%) compared to HEDJ (4.84%). In terms of maximum drawdown, HEDJ dropped -38.18% vs NTSX's -31.34%.
On 5-year performance, HEDJ leads with 11.09% vs 8.85% for NTSX. On fees, NTSX is cheaper at 0.20% per year. On volatility, HEDJ has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HEDJ has performed better with a 11.09% return vs 8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NTSX is cheaper with a 0.20% expense ratio, compared with 0.58% for HEDJ.
HEDJ has the higher dividend yield at 1.51%, compared with 1.10% for NTSX.
HEDJ is categorized as Europe Equities, while NTSX is Diversified Portfolio. Their fees differ too: 0.58% for HEDJ and 0.20% for NTSX.
NTSX currently has the higher Sharpe Ratio (1.63 vs 1.33), 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.
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