MINV vs. DXJ

Last updated Aug 2, 2026

MINV (Matthews Asia Innovators Active ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - MINV is a Asia Pacific Equities fund actively managed by Matthews, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. MINV is actively managed, while DXJ is passively managed. Over the past 3 years, MINV returned 25.20%/yr vs 30.10%/yr for DXJ. Their 0.40 correlation means their historical movements had little consistent relationship. MINV charges 0.79%/yr vs 0.48%/yr for DXJ.

Performance

MINV vs. DXJ - Performance Comparison

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

Returns By Period

In the year-to-date period, MINV achieves a 34.36% return, which is significantly higher than DXJ's 21.25% return.

MINV

• 1D: 1.06%
• 1M: -11.64%
• 6M: 25.35%
• YTD: 34.36%
• 1Y: 50.82%
• 3Y*: 25.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.95%

DXJ

• 1D: -0.73%
• 1M: -0.63%
• 6M: 14.45%
• YTD: 21.25%
• 1Y: 49.27%
• 3Y*: 30.10%
• 5Y*: 27.38%
• 10Y*: 19.00%
• ALL TIME*: 9.44%

*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)
DXJ WisdomTree Japan Hedged Equity Fund	$66.09M	$60.67M	$58.46M
MINV Matthews Asia Innovators Active ETF	$429.82K	$405.88K	$779.39K

MINV vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MINV Matthews Asia Innovators Active ETF	34.36%	30.85%	17.32%	-2.66%	-2.87%
DXJ WisdomTree Japan Hedged Equity Fund	21.25%	32.78%	29.83%	42.04%	4.26%

Correlation

The correlation between MINV and DXJ is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (3Y) Balances recent behavior with more history.	0.42
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.40

MINV vs. DXJ - Sectors Allocation Comparison

Sectors	MINV	DXJ
Technology	38.0%	12.9%
Industrials	15.3%	29.5%
Consumer Cyclical	10.0%	13.3%
Communication Services	8.5%	2.3%
Healthcare	5.2%	6.8%
Real Estate	1.7%	-
Energy	1.5%	1.7%
Financial Services	1.3%	18.3%
Basic Materials	0.4%	9.1%
Consumer Defensive	-	4.7%
Utilities	-	0.1%

Return for Risk

MINV vs. DXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MINV

MINV Risk / Return Rank: 64
MINV Sharpe Ratio Rank: 67
MINV Sortino Ratio Rank: 60
MINV Omega Ratio Rank: 67
MINV Calmar Ratio Rank: 61
MINV Martin Ratio Rank: 62

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 94
DXJ Sortino Ratio Rank: 92
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 92
DXJ Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MINV vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Active ETF (MINV) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

	MINV	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.56	2.61	-1.06
Sortino ratio: Return per unit of downside risk	2.06	3.40	-1.34
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.17	4.30	-2.13
Martin ratio: Return relative to average drawdown	7.52	16.08	-8.56

MINV vs. DXJ - Sharpe Ratio Comparison

The current MINV Sharpe Ratio is 1.56, which is lower than the DXJ Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of MINV and DXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MINV vs. DXJ - Drawdown Comparison

The maximum MINV drawdown since its inception was -23.49%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for MINV and DXJ.

Drawdown Indicators

	MINV	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-23.49%	-49.63%	+26.14%
Max Drawdown (1Y) Largest decline over 1 year	-22.49%	-10.98%	-11.51%
Max Drawdown (3Y) Largest decline over 3 years	-22.49%	-22.19%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.14%	—
Current Drawdown Current decline from peak	-20.17%	-3.40%	-16.77%
Average Drawdown Average peak-to-trough decline	-8.18%	-14.24%	+6.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.48%	2.93%	+3.55%

Volatility

MINV vs. DXJ - Volatility Comparison

Matthews Asia Innovators Active ETF (MINV) has a higher volatility of 10.72% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.07%. This indicates that MINV's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MINV	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.72%	6.07%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	28.08%	14.35%	+13.73%
Volatility (1Y) Calculated over the trailing 1-year period	31.38%	18.07%	+13.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.21%	19.07%	+6.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.21%	19.93%	+5.28%

MINV vs. DXJ - Expense Ratio Comparison

MINV has a 0.79% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

MINV vs. DXJ - Dividend Comparison

MINV's dividend yield for the trailing twelve months is around 1.13%, more than DXJ's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	0.97%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
MINV Matthews Asia Innovators Active ETF	1.13%	1.51%	0.25%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MINV and DXJ in my portfolio?

MINV and DXJ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MINV or DXJ?

MINV has higher volatility (10.72%) compared to DXJ (6.07%). In terms of maximum drawdown, MINV dropped -23.49% vs DXJ's -49.63%.

Which ETF is better, MINV or DXJ?

On 3-year performance, DXJ leads with 30.10% vs 25.20% for MINV. On fees, DXJ is cheaper at 0.48% per year. On volatility, DXJ has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MINV or DXJ?

Over the 3-year period, DXJ has performed better with a 30.10% return vs 25.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MINV or DXJ?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.79% for MINV.

Which ETF pays a higher dividend yield, MINV or DXJ?

MINV has the higher dividend yield at 1.13%, compared with 0.97% for DXJ.

What is the main difference between MINV and DXJ?

MINV is categorized as Asia Pacific Equities, while DXJ is Japan Equities. They also come from different issuers: Matthews and WisdomTree. Their fees differ too: 0.79% for MINV and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (2.61 vs 1.56), 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.