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JAPN.TO vs. DXJS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

JAPN.TO vs. DXJS

Last updated Jun 4, 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. Over the past 5 years, JAPN.TO returned 25.62%/yr vs 28.76%/yr for DXJS. At a 0.40 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.

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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

In the year-to-date period, JAPN.TO achieves a 19.35% return, which is significantly lower than DXJS's 27.76% return.

JAPN.TO

1D
0.86%
1M
7.38%
YTD
19.35%
6M
23.23%
1Y
51.47%
3Y*
33.20%
5Y*
25.62%
10Y*
—

DXJS

1D
0.39%
1M
5.04%
YTD
27.76%
6M
32.45%
1Y
67.10%
3Y*
36.48%
5Y*
28.76%
10Y*
18.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

JAPN.TO vs. DXJS - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
JAPN.TO
CI WisdomTree Japan Equity Index ETF		19.35%30.66%29.25%35.51%10.82%16.05%2.20%16.56%-15.95%
DXJS
WisdomTree Japan Hedged SmallCap Equity Fund		27.76%30.79%31.07%35.90%12.51%10.65%-4.85%12.43%-11.31%

Correlation

The correlation between JAPN.TO and DXJS is 0.69, 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

0.69

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

0.63

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

0.47

Correlation (All Time)
Calculated using the full available price history since Aug 9, 2018

0.40

Over the past year, JAPN.TO and DXJS have become more correlated (0.69) than their long-term average of 0.40, meaning their price movements have been converging.

JAPN.TO vs. DXJS - Sectors Allocation Comparison

Sectors
JAPN.TO
DXJS

Industrials

27.8%
27.6%

Financial Services

18.9%
9.2%

Consumer Cyclical

16.1%
19.7%

Technology

12.0%
11.2%

Basic Materials

7.8%
12.0%

Healthcare

6.8%
4.4%

Consumer Defensive

4.8%
8.4%

Communication Services

3.8%
1.7%

Energy

1.9%
1.0%

Utilities

0.1%
1.6%

Real Estate

-

3.3%

Industrials

JAPN.TO
27.8%
DXJS
27.6%

Financial Services

JAPN.TO
18.9%
DXJS
9.2%

Consumer Cyclical

JAPN.TO
16.1%
DXJS
19.7%

Technology

JAPN.TO
12.0%
DXJS
11.2%

Basic Materials

JAPN.TO
7.8%
DXJS
12.0%

Healthcare

JAPN.TO
6.8%
DXJS
4.4%

Consumer Defensive

JAPN.TO
4.8%
DXJS
8.4%

Communication Services

JAPN.TO
3.8%
DXJS
1.7%

Energy

JAPN.TO
1.9%
DXJS
1.0%

Utilities

JAPN.TO
0.1%
DXJS
1.6%

Real Estate

JAPN.TO

-

DXJS
3.3%

Compare stocks, funds, or ETFs

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

CI WisdomTree Japan Equity Index ETF

WisdomTree Japan Hedged SmallCap Equity Fund

Often compared with JAPN.TO:
JAPN.TO vs. VOOJAPN.TO vs. VGTJAPN.TO vs. EWTJAPN.TO vs. YCSJAPN.TO vs. DXJJAPN.TO vs. CJP.NEOJAPN.TO vs. XCH.TO
Often compared with DXJS:
DXJS vs. DXJDXJS vs. DFJDXJS vs. FXYDXJS vs. FJSCXDXJS vs. GSJYDXJS vs. SHDXJS vs. PRIJ.L

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: 8686
Overall Rank
JAPN.TO Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
JAPN.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
JAPN.TO Omega Ratio Rank: 8787
Omega Ratio Rank
JAPN.TO Calmar Ratio Rank: 8585
Calmar Ratio Rank
JAPN.TO Martin Ratio Rank: 8484
Martin Ratio Rank
DXJS
DXJS Risk / Return Rank: 9191
Overall Rank
DXJS Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
DXJS Sortino Ratio Rank: 9191
Sortino Ratio Rank
DXJS Omega Ratio Rank: 8787
Omega Ratio Rank
DXJS Calmar Ratio Rank: 9393
Calmar Ratio Rank
DXJS Martin Ratio Rank: 9292
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.

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.

JAPN.TODXJSDifference
Sharpe ratioReturn per unit of total volatility
2.87
3.46

-0.59

Sortino ratioReturn per unit of downside risk
4.04
4.42

-0.38

Omega ratioGain probability vs. loss probability

1.54

1.57

-0.03

Calmar ratioReturn relative to maximum drawdown

4.66

7.11

-2.45

Martin ratioReturn relative to average drawdown

17.52

24.42

-6.90

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JAPN.TO vs. DXJS - Sharpe Ratio Comparison

The current JAPN.TO Sharpe Ratio is 2.87, which is comparable to the DXJS Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of JAPN.TO and DXJS, 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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Sharpe Ratios by Period

JAPN.TODXJSDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.87

3.46

-0.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.36

1.64

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.96

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.93

0.90

+0.04

Drawdowns

JAPN.TO vs. DXJS - Drawdown Comparison

The maximum JAPN.TO drawdown since its inception was -28.88%, smaller than the maximum DXJS drawdown of -32.91%. Use the drawdown chart below to compare losses from any high point for JAPN.TO and DXJS.

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Drawdown Indicators

JAPN.TODXJSDifference

Max Drawdown

Largest peak-to-trough decline

-28.88%

-32.91%

+4.03%

Max Drawdown (1Y)

Largest decline over 1 year

-11.09%

-9.48%

-1.61%

Max Drawdown (3Y)

Largest decline over 3 years

-21.67%

-15.57%

-6.10%

Max Drawdown (5Y)

Largest decline over 5 years

-21.67%

-15.57%

-6.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.91%

—

Current Drawdown

Current decline from peak

0.00%

-3.04%

+3.04%

Average Drawdown

Average peak-to-trough decline

-6.05%

-5.73%

-0.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.95%

2.76%

+0.19%

Volatility

JAPN.TO vs. DXJS - Volatility Comparison

The current volatility for CI WisdomTree Japan Equity Index ETF (JAPN.TO) is 3.65%, while WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) has a volatility of 5.13%. This indicates that JAPN.TO experiences smaller price fluctuations and is considered to be less risky than DXJS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

JAPN.TODXJSDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.65%

5.13%

-1.48%

Volatility (6M)

Calculated over the trailing 6-month period

13.69%

15.42%

-1.73%

Volatility (1Y)

Calculated over the trailing 1-year period

18.02%

19.52%

-1.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.98%

17.61%

+1.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.67%

19.10%

+0.57%

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 2.02%, more than DXJS's 1.50% yield.

PositionTTM20252024202320222021202020192018201720162015
DXJS
WisdomTree Japan Hedged SmallCap Equity Fund		1.50%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		2.02%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

JAPN.TO and DXJS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

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

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