WELD vs. DXJ

Last updated Jul 18, 2026

WELD (Tema U.S. Manufacturing & Reshoring ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - WELD is a Industrials Equities fund actively managed by Tema, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. WELD is actively managed, while DXJ is passively managed. At a 0.40 correlation, their price movements are largely independent. WELD charges 0.75%/yr vs 0.48%/yr for DXJ.

Performance

WELD vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema U.S. Manufacturing & Reshoring ETF (WELD) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

WELD

• 1D: -0.45%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DXJ

• 1D: -2.00%
• 1M: -1.64%
• 6M: 11.16%
• YTD: 20.01%
• 1Y: 50.58%
• 3Y*: 31.07%
• 5Y*: 27.02%
• 10Y*: 18.42%

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

WELD vs. DXJ - Yearly Performance Comparison

	2026 (YTD)
WELD Tema U.S. Manufacturing & Reshoring ETF	-11.04%
DXJ WisdomTree Japan Hedged Equity Fund	-3.09%

Correlation

The correlation between WELD and DXJ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 22, 2026	0.40

WELD vs. DXJ - Sectors Allocation Comparison

Sectors	WELD	DXJ
Industrials	73.5%	27.4%
Technology	12.9%	13.4%
Basic Materials	8.5%	8.5%
Consumer Cyclical	3.0%	15.5%
Energy	1.0%	1.7%
Communication Services	-	2.3%
Consumer Defensive	-	4.7%
Financial Services	-	18.3%
Healthcare	-	6.8%
Real Estate	-	-
Utilities	-	0.1%

Return for Risk

WELD vs. DXJ — Risk / Return Rank

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

WELD

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

DXJ

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

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.

WELD vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema U.S. Manufacturing & Reshoring ETF (WELD) 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.

	WELD	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	—	2.76	—
Sortino ratio: Return per unit of downside risk	—	3.63	—
Omega ratio: Gain probability vs. loss probability	—	1.49	—
Calmar ratio: Return relative to maximum drawdown	—	4.63	—
Martin ratio: Return relative to average drawdown	—	17.50	—

Drawdowns

WELD vs. DXJ - Drawdown Comparison

The maximum WELD drawdown since its inception was -11.04%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for WELD and DXJ.

Drawdown Indicators

	WELD	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-11.04%	-49.63%	+38.59%
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	-11.04%	-4.39%	-6.65%
Average Drawdown Average peak-to-trough decline	-7.35%	-14.26%	+6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.90%	—

Volatility

Volatility by Period

	WELD	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.23%	18.43%	+14.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.23%	19.07%	+14.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.23%	19.93%	+13.30%

WELD vs. DXJ - Expense Ratio Comparison

WELD has a 0.75% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

WELD vs. DXJ - Dividend Comparison

WELD has not paid dividends to shareholders, while DXJ's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DXJ WisdomTree Japan Hedged Equity Fund	0.98%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%
WELD Tema U.S. Manufacturing & Reshoring 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

Can I hold both WELD and DXJ in my portfolio?

WELD and DXJ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WELD or DXJ?

On fees, DXJ is cheaper at 0.48% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WELD or DXJ?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.75% for WELD.

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

DXJ has the higher dividend yield at 0.98%, compared with 0.00% for WELD.

What is the main difference between WELD and DXJ?

WELD is categorized as Industrials Equities, while DXJ is Japan Equities. They also come from different issuers: Tema and WisdomTree. Their fees differ too: 0.75% for WELD and 0.48% for DXJ.