JAPN.TO vs. DXJS

Last updated Jul 25, 2026

JAPN.TO (CI WisdomTree Japan Equity Index ETF) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both Japan Equities funds - JAPN.TO tracks the WisdomTree Japan Equity Index CAD while DXJS tracks the WisdomTree Japan Hedged SmallCap Equity Index. Both are passively managed. At a 0.38 correlation, their price movements are largely independent. JAPN.TO charges 0.48%/yr vs 0.58%/yr for DXJS.

Performance

JAPN.TO vs. DXJS - Performance Comparison

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

Different Trading Currencies

JAPN.TO is traded in CAD, while DXJS is traded in USD. To make them comparable, the DXJS values have been converted to CAD using the latest available exchange rates.

Returns By Period

JAPN.TO

• 1D: 0.41%
• 1M: 3.00%
• 6M: 16.35%
• YTD: 22.91%
• 1Y: 45.60%
• 3Y*: 30.59%
• 5Y*: 26.34%
• 10Y*: —
• ALL TIME*: 17.30%

DXJS

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

*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)
JAPN.TO CI WisdomTree Japan Equity Index ETF	CA$98.10K	CA$113.38K	CA$108.33K

JAPN.TO vs. DXJS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JAPN.TO CI WisdomTree Japan Equity Index ETF	22.91%	30.67%	29.25%	35.51%	10.82%	16.05%	2.20%	16.56%	-17.12%
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	25.20%	30.82%	30.92%	35.65%	11.68%	11.60%	-5.51%	13.37%	-13.27%

Correlation

The correlation between JAPN.TO and DXJS is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Aug 1, 2018	0.38

Over the past year, JAPN.TO and DXJS have become more correlated (0.67) than their long-term average of 0.38, meaning their price movements have been converging.

Return for Risk

JAPN.TO vs. DXJS — Risk / Return Rank

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

JAPN.TO

JAPN.TO Risk / Return Rank: 92
JAPN.TO Sharpe Ratio Rank: 94
JAPN.TO Sortino Ratio Rank: 93
JAPN.TO Omega Ratio Rank: 93
JAPN.TO Calmar Ratio Rank: 91
JAPN.TO Martin Ratio Rank: 91

DXJS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

JAPN.TO vs. DXJS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI WisdomTree Japan Equity Index ETF (JAPN.TO) and WisdomTree Japan Hedged SmallCap Equity Fund (DXJS). 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.

	JAPN.TO	DXJS	Difference
Sharpe ratio: Return per unit of total volatility	2.54	—	—
Sortino ratio: Return per unit of downside risk	3.41	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	4.13	—	—
Martin ratio: Return relative to average drawdown	15.15	—	—

Drawdowns

Drawdown Indicators

	JAPN.TO	DXJS	Difference
Max Drawdown Largest peak-to-trough decline	-28.88%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.09%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.67%	—	—
Current Drawdown Current decline from peak	-0.86%	—	—
Average Drawdown Average peak-to-trough decline	-5.94%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	—	—

Volatility

Volatility by Period

	JAPN.TO	DXJS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	—	—

JAPN.TO vs. DXJS - Expense Ratio Comparison

JAPN.TO has a 0.48% expense ratio, which is lower than DXJS's 0.58% expense ratio.

Dividends

JAPN.TO vs. DXJS - Dividend Comparison

JAPN.TO's dividend yield for the trailing twelve months is around 1.52%, while DXJS has not 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%
JAPN.TO CI WisdomTree Japan Equity Index ETF	1.52%	2.08%	1.58%	1.51%	2.59%	1.35%	1.36%	2.12%	0.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JAPN.TO and DXJS in my portfolio?

JAPN.TO and DXJS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JAPN.TO or DXJS?

On fees, JAPN.TO is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JAPN.TO or DXJS?

JAPN.TO is cheaper with a 0.48% expense ratio, compared with 0.58% for DXJS.

What is the main difference between JAPN.TO and DXJS?

JAPN.TO tracks WisdomTree Japan Equity Index CAD, while DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index. They also come from different issuers: CI Investments and WisdomTree. Their fees differ too: 0.48% for JAPN.TO and 0.58% for DXJS.