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ICSH vs. DFJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ICSH vs. DFJ

Last updated Jun 13, 2026

ICSH (iShares Ultra Short Duration Bond Active ETF) and DFJ (WisdomTree Japan SmallCap Dividend Fund) are both exchange-traded funds - ICSH is a Ultrashort Bond fund actively managed by iShares, while DFJ is a Japan Equities fund tracking the WisdomTree Japan SmallCap Dividend Index. ICSH is actively managed, while DFJ is passively managed. Over the past 10 years, ICSH returned 2.78%/yr vs 9.18%/yr for DFJ. At a 0.09 correlation, their price movements are largely independent. ICSH charges 0.08%/yr vs 0.58%/yr for DFJ.

Performance

ICSH vs. DFJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Ultra Short Duration Bond Active ETF (ICSH) and WisdomTree Japan SmallCap Dividend Fund (DFJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ICSH achieves a 1.53% return, which is significantly lower than DFJ's 10.31% return. Over the past 10 years, ICSH has underperformed DFJ with an annualized return of 2.78%, while DFJ has yielded a comparatively higher 9.18% annualized return.

ICSH

1D
0.00%
1M
0.32%
YTD
1.53%
6M
1.81%
1Y
4.32%
3Y*
5.16%
5Y*
3.69%
10Y*
2.78%

DFJ

1D
0.31%
1M
-1.56%
YTD
10.31%
6M
11.99%
1Y
28.50%
3Y*
18.53%
5Y*
9.75%
10Y*
9.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ICSH vs. DFJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ICSH
iShares Ultra Short Duration Bond Active ETF		1.53%4.96%5.52%5.58%0.97%0.16%1.61%3.17%2.25%1.63%
DFJ
WisdomTree Japan SmallCap Dividend Fund		10.31%31.90%2.80%21.81%-9.00%0.38%1.29%16.98%-18.53%32.14%

Correlation

The correlation between ICSH and DFJ is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.26

Correlation (3Y)
Calculated over the trailing 3-year period

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Dec 13, 2013

0.09

The correlation between ICSH and DFJ shifts across timeframes, from 0.09 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.

ICSH vs. DFJ - Sectors Allocation Comparison

Sectors
ICSH
DFJ

Utilities

100.0%
1.6%

Basic Materials

-

13.3%

Communication Services

-

1.5%

Consumer Cyclical

-

16.1%

Consumer Defensive

-

7.1%

Energy

-

0.6%

Financial Services

-

13.3%

Healthcare

-

4.1%

Industrials

-

27.0%

Real Estate

-

2.9%

Technology

-

12.6%

Utilities

ICSH
100.0%
DFJ
1.6%

Basic Materials

ICSH

-

DFJ
13.3%

Communication Services

ICSH

-

DFJ
1.5%

Consumer Cyclical

ICSH

-

DFJ
16.1%

Consumer Defensive

ICSH

-

DFJ
7.1%

Energy

ICSH

-

DFJ
0.6%

Financial Services

ICSH

-

DFJ
13.3%

Healthcare

ICSH

-

DFJ
4.1%

Industrials

ICSH

-

DFJ
27.0%

Real Estate

ICSH

-

DFJ
2.9%

Technology

ICSH

-

DFJ
12.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Ultra Short Duration Bond Active ETF

WisdomTree Japan SmallCap Dividend Fund

Often compared with ICSH:
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Often compared with DFJ:
DFJ vs. SCJDFJ vs. EWJVDFJ vs. DXJDFJ vs. DXJSDFJ vs. FJSCXDFJ vs. QQQDFJ vs. HJPSX

Return for Risk

ICSH vs. DFJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ICSH
ICSH Risk / Return Rank: 9999
Overall Rank
ICSH Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
ICSH Sortino Ratio Rank: 9999
Sortino Ratio Rank
ICSH Omega Ratio Rank: 9999
Omega Ratio Rank
ICSH Calmar Ratio Rank: 9999
Calmar Ratio Rank
ICSH Martin Ratio Rank: 9999
Martin Ratio Rank
DFJ
DFJ Risk / Return Rank: 5050
Overall Rank
DFJ Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
DFJ Sortino Ratio Rank: 5555
Sortino Ratio Rank
DFJ Omega Ratio Rank: 5252
Omega Ratio Rank
DFJ Calmar Ratio Rank: 4848
Calmar Ratio Rank
DFJ Martin Ratio Rank: 4242
Martin Ratio Rank
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.

ICSH vs. DFJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Ultra Short Duration Bond Active ETF (ICSH) and WisdomTree Japan SmallCap Dividend Fund (DFJ). 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.

ICSHDFJDifference
Sharpe ratioReturn per unit of total volatility
10.98
1.65

+9.34

Sortino ratioReturn per unit of downside risk
27.49
2.34

+25.15

Omega ratioGain probability vs. loss probability

6.59

1.29

+5.30

Calmar ratioReturn relative to maximum drawdown

43.88

2.11

+41.77

Martin ratioReturn relative to average drawdown

290.20

5.97

+284.24

ICSH vs. DFJ - Sharpe Ratio Comparison

The current ICSH Sharpe Ratio is 10.98, which is higher than the DFJ Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of ICSH and DFJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ICSH vs. DFJ - Drawdown Comparison

The maximum ICSH drawdown since its inception was -3.94%, smaller than the maximum DFJ drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for ICSH and DFJ.

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Drawdown Indicators

ICSHDFJDifference

Max Drawdown

Largest peak-to-trough decline

-3.94%

-46.00%

+42.06%

Max Drawdown (1Y)

Largest decline over 1 year

-0.10%

-13.03%

+12.93%

Max Drawdown (3Y)

Largest decline over 3 years

-0.10%

-13.03%

+12.93%

Max Drawdown (5Y)

Largest decline over 5 years

-0.73%

-29.71%

+28.98%

Max Drawdown (10Y)

Largest decline over 10 years

-3.94%

-40.02%

+36.08%

Current Drawdown

Current decline from peak

0.00%

-5.85%

+5.85%

Average Drawdown

Average peak-to-trough decline

-0.08%

-11.15%

+11.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.01%

4.61%

-4.60%

Volatility

ICSH vs. DFJ - Volatility Comparison

The current volatility for iShares Ultra Short Duration Bond Active ETF (ICSH) is 0.13%, while WisdomTree Japan SmallCap Dividend Fund (DFJ) has a volatility of 4.87%. This indicates that ICSH experiences smaller price fluctuations and is considered to be less risky than DFJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ICSHDFJDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.13%

4.87%

-4.74%

Volatility (6M)

Calculated over the trailing 6-month period

0.29%

13.79%

-13.50%

Volatility (1Y)

Calculated over the trailing 1-year period

0.39%

16.68%

-16.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.48%

15.94%

-15.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.06%

16.97%

-15.91%

ICSH vs. DFJ - Expense Ratio Comparison

ICSH has a 0.08% expense ratio, which is lower than DFJ's 0.58% expense ratio.

Dividends

ICSH vs. DFJ - Dividend Comparison

ICSH's dividend yield for the trailing twelve months is around 4.34%, more than DFJ's 2.41% yield.

PositionTTM20252024202320222021202020192018201720162015
DFJ
WisdomTree Japan SmallCap Dividend Fund		2.41%2.68%2.46%2.43%2.62%2.07%2.59%2.24%1.89%1.60%1.76%1.23%
ICSH
iShares Ultra Short Duration Bond Active ETF		4.34%4.55%5.24%4.78%1.66%0.42%1.21%2.61%2.20%1.36%0.88%0.54%

Frequently Asked Questions

ICSH and DFJ have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DFJ has higher volatility (4.87%) compared to ICSH (0.13%). In terms of maximum drawdown, ICSH dropped -3.94% vs DFJ's -46.00%.

On 10-year performance, DFJ leads with 9.18% vs 2.78% for ICSH. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DFJ has performed better with a 9.18% return vs 2.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ICSH is cheaper with a 0.08% expense ratio, compared with 0.58% for DFJ.

ICSH has the higher dividend yield at 4.34%, compared with 2.41% for DFJ.

ICSH is categorized as Ultrashort Bond, while DFJ is Japan Equities. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.08% for ICSH and 0.58% for DFJ.

ICSH currently has the higher Sharpe Ratio (10.98 vs 1.65), 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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