WAMA vs. DXJ

Last updated Jun 24, 2026

WAMA (WisdomTree U.S. Adaptive Moving Average Fund) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - WAMA is a Tactical Allocation fund tracking the WisdomTree U.S. Adaptive Moving Average Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. A 0.55 correlation means they provide meaningful diversification when combined. WAMA charges 0.32%/yr vs 0.48%/yr for DXJ.

Performance

WAMA vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. Adaptive Moving Average Fund (WAMA) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WAMA

• 1D: -1.21%
• 1M: -1.31%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DXJ

• 1D: -3.57%
• 1M: 2.21%
• YTD: 20.23%
• 6M: 20.18%
• 1Y: 55.89%
• 3Y*: 31.66%
• 5Y*: 26.40%
• 10Y*: 19.25%

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

WAMA vs. DXJ - Yearly Performance Comparison

	2026 (YTD)
WAMA WisdomTree U.S. Adaptive Moving Average Fund	0.33%
DXJ WisdomTree Japan Hedged Equity Fund	6.34%

Correlation

The correlation between WAMA and DXJ is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 6, 2026	0.55

Return for Risk

WAMA vs. DXJ — Risk / Return Rank

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

WAMA

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

DXJ

DXJ Risk / Return Rank: 90
DXJ Sharpe Ratio Rank: 92
DXJ Sortino Ratio Rank: 90
DXJ Omega Ratio Rank: 90
DXJ Calmar Ratio Rank: 89
DXJ Martin Ratio Rank: 90

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.

WAMA vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Adaptive Moving Average Fund (WAMA) 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.

	WAMA	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	—	3.10	—
Sortino ratio: Return per unit of downside risk	—	4.02	—
Omega ratio: Gain probability vs. loss probability	—	1.55	—
Calmar ratio: Return relative to maximum drawdown	—	5.12	—
Martin ratio: Return relative to average drawdown	—	19.78	—

Drawdowns

WAMA vs. DXJ - Drawdown Comparison

The maximum WAMA drawdown since its inception was -4.37%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for WAMA and DXJ.

Drawdown Indicators

	WAMA	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-4.37%	-49.63%	+45.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.98%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.19%	—
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	-3.20%	-3.57%	+0.37%
Average Drawdown Average peak-to-trough decline	-1.13%	-14.30%	+13.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.83%	—

Volatility

Volatility by Period

	WAMA	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	18.14%	-3.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.24%	19.08%	-4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.24%	20.00%	-5.76%

WAMA vs. DXJ - Expense Ratio Comparison

WAMA has a 0.32% expense ratio, which is lower than DXJ's 0.48% expense ratio.

Dividends

WAMA vs. DXJ - Dividend Comparison

WAMA has not paid dividends to shareholders, while DXJ's dividend yield for the trailing twelve months is around 1.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	1.08%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
WAMA WisdomTree U.S. Adaptive Moving Average Fund	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

Can I hold both WAMA and DXJ in my portfolio?

WAMA and DXJ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WAMA or DXJ?

On fees, WAMA is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WAMA or DXJ?

WAMA is cheaper with a 0.32% expense ratio, compared with 0.48% for DXJ.

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

DXJ has the higher dividend yield at 1.08%, compared with 0.00% for WAMA.

What is the main difference between WAMA and DXJ?

WAMA is categorized as Tactical Allocation, while DXJ is Japan Equities. WAMA tracks WisdomTree U.S. Adaptive Moving Average Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. Their fees differ too: 0.32% for WAMA and 0.48% for DXJ.