RAYJ vs. DFJ

Last updated Aug 2, 2026

RAYJ (Rayliant SMDAM Japan Equity ETF) and DFJ (WisdomTree Japan SmallCap Dividend Fund) are both Japan Equities funds. RAYJ is actively managed, while DFJ is passively managed. RAYJ charges 0.72%/yr vs 0.58%/yr for DFJ.

Performance

RAYJ vs. DFJ - Performance Comparison

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

Returns By Period

RAYJ

• 1D: 0.00%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

DFJ

• 1D: -0.21%
• 1M: -0.56%
• 6M: 5.79%
• YTD: 12.43%
• 1Y: 23.77%
• 3Y*: 18.59%
• 5Y*: 10.25%
• 10Y*: 8.80%
• ALL TIME*: 5.90%

*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)
DFJ WisdomTree Japan SmallCap Dividend Fund	$4.27M	$3.89M	$3.95M
RAYJ Rayliant SMDAM Japan Equity ETF	$0.00	$0.00	$0.00

RAYJ vs. DFJ - Yearly Performance Comparison

	2026 (YTD)
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%
DFJ WisdomTree Japan SmallCap Dividend Fund	-0.21%

RAYJ vs. DFJ - Sectors Allocation Comparison

Sectors	RAYJ	DFJ
Industrials	27.6%	26.8%
Technology	22.8%	13.2%
Consumer Cyclical	21.0%	15.9%
Basic Materials	10.1%	13.8%
Financial Services	9.7%	13.8%
Healthcare	3.5%	3.7%
Communication Services	3.1%	1.3%
Real Estate	1.4%	2.7%
Consumer Defensive	0.9%	7.1%
Energy	-	0.3%
Utilities	-	1.5%

Return for Risk

RAYJ vs. DFJ — Risk / Return Rank

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

RAYJ

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

DFJ

DFJ Risk / Return Rank: 60
DFJ Sharpe Ratio Rank: 66
DFJ Sortino Ratio Rank: 66
DFJ Omega Ratio Rank: 61
DFJ Calmar Ratio Rank: 58
DFJ Martin Ratio Rank: 47

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.

RAYJ vs. DFJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant SMDAM Japan Equity ETF (RAYJ) 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.

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.

	RAYJ	DFJ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.51	—
Sortino ratio: Return per unit of downside risk	—	2.18	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.04	—
Martin ratio: Return relative to average drawdown	—	5.39	—

Drawdowns

RAYJ vs. DFJ - Drawdown Comparison

The maximum RAYJ drawdown since its inception was 0.00%, smaller than the maximum DFJ drawdown of -46.00%. Use the drawdown chart below to compare losses from any high point for RAYJ and DFJ.

Drawdown Indicators

	RAYJ	DFJ	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-46.00%	+46.00%
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	0.00%	-4.04%	+4.04%
Average Drawdown Average peak-to-trough decline	0.00%	-11.10%	+11.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.91%	—

Volatility

Volatility by Period

	RAYJ	DFJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.82%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.57%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.11%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.00%	—

RAYJ vs. DFJ - Expense Ratio Comparison

RAYJ has a 0.72% expense ratio, which is higher than DFJ's 0.58% expense ratio.

Dividends

RAYJ vs. DFJ - Dividend Comparison

RAYJ has not paid dividends to shareholders, while DFJ's dividend yield for the trailing twelve months is around 2.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFJ WisdomTree Japan SmallCap Dividend Fund	2.61%	2.68%	2.46%	2.43%	2.62%	2.07%	2.59%	2.24%	1.89%	1.60%	1.76%	1.23%
RAYJ Rayliant SMDAM Japan Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, RAYJ 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, RAYJ or DFJ?

DFJ is cheaper with a 0.58% expense ratio, compared with 0.72% for RAYJ.

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

DFJ has the higher dividend yield at 2.61%, compared with 0.00% for RAYJ.

What is the main difference between RAYJ and DFJ?

They also come from different issuers: Rayliant and WisdomTree. Their fees differ too: 0.72% for RAYJ and 0.58% for DFJ.