JPAN vs. DXJS

Last updated Jul 14, 2026

JPAN (Matthews Japan Active ETF) and DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) are both Japan Equities funds. JPAN is actively managed, while DXJS is passively managed. A 0.65 correlation means they provide meaningful diversification when combined. JPAN charges 0.79%/yr vs 0.58%/yr for DXJS.

Performance

JPAN vs. DXJS - Performance Comparison

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

Returns By Period

JPAN

• 1D: -1.72%
• 1M: 1.04%
• 6M: 10.26%
• YTD: 17.43%
• 1Y: 33.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DXJS

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

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

JPAN vs. DXJS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPAN Matthews Japan Active ETF	17.43%	22.96%	18.16%	5.17%
DXJS WisdomTree Japan Hedged SmallCap Equity Fund	23.30%	37.08%	20.70%	4.68%

Correlation

The correlation between JPAN 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 (All Time) Calculated using the full available price history since Sep 22, 2023	0.65

The correlation between JPAN and DXJS has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

Return for Risk

JPAN vs. DXJS — Risk / Return Rank

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

JPAN

JPAN Risk / Return Rank: 60
JPAN Sharpe Ratio Rank: 61
JPAN Sortino Ratio Rank: 61
JPAN Omega Ratio Rank: 62
JPAN Calmar Ratio Rank: 58
JPAN Martin Ratio Rank: 59

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.

JPAN vs. DXJS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Active ETF (JPAN) 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.

	JPAN	DXJS	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.28	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.29	—	—
Martin ratio: Return relative to average drawdown	8.16	—	—

Drawdowns

Drawdown Indicators

	JPAN	DXJS	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	—	—
Current Drawdown Current decline from peak	-3.80%	—	—
Average Drawdown Average peak-to-trough decline	-3.10%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	—	—

Volatility

Volatility by Period

	JPAN	DXJS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.73%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.52%	—	—

JPAN vs. DXJS - Expense Ratio Comparison

JPAN has a 0.79% expense ratio, which is higher than DXJS's 0.58% expense ratio.

Dividends

JPAN vs. DXJS - Dividend Comparison

JPAN's dividend yield for the trailing twelve months is around 4.34%, 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%
JPAN Matthews Japan Active ETF	4.34%	5.10%	1.53%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPAN and DXJS in my portfolio?

JPAN 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.

Which ETF is better, JPAN or DXJS?

On fees, DXJS is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPAN or DXJS?

DXJS is cheaper with a 0.58% expense ratio, compared with 0.79% for JPAN.

Which ETF pays a higher dividend yield, JPAN or DXJS?

JPAN has the higher dividend yield at 4.34%, compared with 0.53% for DXJS.

What is the main difference between JPAN and DXJS?

They also come from different issuers: Matthews and WisdomTree. Their fees differ too: 0.79% for JPAN and 0.58% for DXJS.