MJSC vs. DFJ

Last updated Jun 7, 2026

MJSC (MUFG Japan Small Cap Active ETF) and DFJ (WisdomTree Japan SmallCap Dividend Fund) are both Japan Equities funds. MJSC is actively managed, while DFJ is passively managed. Their correlation of 0.86 suggests significant overlap in exposure. MJSC charges 0.85%/yr vs 0.58%/yr for DFJ.

Performance

MJSC vs. DFJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MUFG Japan Small Cap Active ETF (MJSC) and WisdomTree Japan SmallCap Dividend Fund (DFJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MJSC achieves a 20.72% return, which is significantly higher than DFJ's 8.76% return.

MJSC

• 1D: -2.64%
• 1M: 1.37%
• YTD: 20.72%
• 6M: 20.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DFJ

• 1D: -1.50%
• 1M: -1.64%
• YTD: 8.76%
• 6M: 11.38%
• 1Y: 26.38%
• 3Y*: 18.69%
• 5Y*: 9.45%
• 10Y*: 8.55%

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

MJSC vs. DFJ - Yearly Performance Comparison

	2026 (YTD)	2025
MJSC MUFG Japan Small Cap Active ETF	20.72%	0.40%
DFJ WisdomTree Japan SmallCap Dividend Fund	8.76%	2.01%

Correlation

The correlation between MJSC and DFJ is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025	0.86

Return for Risk

MJSC vs. DFJ — Risk / Return Rank

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

DFJ

DFJ Risk / Return Rank: 46
DFJ Sharpe Ratio Rank: 49
DFJ Sortino Ratio Rank: 50
DFJ Omega Ratio Rank: 47
DFJ Calmar Ratio Rank: 44
DFJ Martin Ratio Rank: 39

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.

MJSC vs. DFJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUFG Japan Small Cap Active ETF (MJSC) 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.

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

Sharpe Ratios by Period

	MJSC	DFJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.63	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	0.31	+1.21

Drawdowns

MJSC vs. DFJ - Drawdown Comparison

The maximum MJSC drawdown since its inception was -12.63%, smaller than the maximum DFJ drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for MJSC and DFJ.

Drawdown Indicators

	MJSC	DFJ	Difference
Max Drawdown Largest peak-to-trough decline	-12.63%	-46.00%	+33.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.02%	—
Current Drawdown Current decline from peak	-4.13%	-7.18%	+3.05%
Average Drawdown Average peak-to-trough decline	-2.95%	-11.15%	+8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.51%	—

Volatility

Volatility by Period

	MJSC	DFJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.42%	16.48%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	15.90%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	16.96%	+3.46%

MJSC vs. DFJ - Expense Ratio Comparison

MJSC has a 0.85% expense ratio, which is higher than DFJ's 0.58% expense ratio.

Dividends

MJSC vs. DFJ - Dividend Comparison

MJSC's dividend yield for the trailing twelve months is around 0.54%, less than DFJ's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJ WisdomTree Japan SmallCap Dividend Fund	2.44%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%
MJSC MUFG Japan Small Cap Active ETF	0.54%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MJSC and DFJ in my portfolio?

MJSC and DFJ have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MJSC or DFJ?

On fees, DFJ 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, MJSC or DFJ?

DFJ is cheaper with a 0.58% expense ratio, compared with 0.85% for MJSC.

Which ETF pays a higher dividend yield, MJSC or DFJ?

DFJ has the higher dividend yield at 2.44%, compared with 0.54% for MJSC.

What is the main difference between MJSC and DFJ?

They also come from different issuers: MUFG and WisdomTree. Their fees differ too: 0.85% for MJSC and 0.58% for DFJ.