WTDX.DE vs. SMLN.DE

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE).

WTDX.DE and SMLN.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. WTDX.DE is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity UCITS Index. It was launched on Feb 2, 2016. SMLN.DE is a passively managed fund by Invesco that tracks the performance of the JPX-Nikkei 400. It was launched on Sep 10, 2014. Both WTDX.DE and SMLN.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

WTDX.DE vs. SMLN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE). The values are adjusted to include any dividend payments, if applicable.

WTDX.DE vs. SMLN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WTDX.DE WisdomTree Japan Equity UCITS ETF USD Hedged	14.70%	17.62%	36.61%	36.95%	11.73%	27.31%	-6.01%	21.12%	-15.40%	7.28%
SMLN.DE Invesco JPX-Nikkei 400 UCITS ETF	9.46%	12.69%	12.93%	16.15%	-11.17%	8.51%	4.78%	22.29%	-10.60%	9.59%

Returns By Period

In the year-to-date period, WTDX.DE achieves a 14.70% return, which is significantly higher than SMLN.DE's 9.46% return. Over the past 10 years, WTDX.DE has outperformed SMLN.DE with an annualized return of 17.00%, while SMLN.DE has yielded a comparatively lower 8.97% annualized return.

WTDX.DE

• 1D: 4.14%
• 1M: -1.52%
• YTD: 14.70%
• 6M: 30.01%
• 1Y: 41.39%
• 3Y*: 32.43%
• 5Y*: 25.02%
• 10Y*: 17.00%

SMLN.DE

• 1D: 4.57%
• 1M: -2.37%
• YTD: 9.46%
• 6M: 14.53%
• 1Y: 24.66%
• 3Y*: 15.24%
• 5Y*: 7.99%
• 10Y*: 8.97%

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

WTDX.DE vs. SMLN.DE - Expense Ratio Comparison

WTDX.DE has a 0.48% expense ratio, which is higher than SMLN.DE's 0.19% expense ratio.

WTDX.DE

WisdomTree Japan Equity UCITS ETF USD Hedged

SMLN.DE

Invesco JPX-Nikkei 400 UCITS ETF

Return for Risk

WTDX.DE vs. SMLN.DE — Risk / Return Rank

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

WTDX.DE

WTDX.DE Risk / Return Rank: 88
WTDX.DE Sharpe Ratio Rank: 84
WTDX.DE Sortino Ratio Rank: 81
WTDX.DE Omega Ratio Rank: 83
WTDX.DE Calmar Ratio Rank: 97
WTDX.DE Martin Ratio Rank: 94

SMLN.DE

SMLN.DE Risk / Return Rank: 72
SMLN.DE Sharpe Ratio Rank: 67
SMLN.DE Sortino Ratio Rank: 68
SMLN.DE Omega Ratio Rank: 64
SMLN.DE Calmar Ratio Rank: 83
SMLN.DE Martin Ratio Rank: 77

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.

WTDX.DE vs. SMLN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) and Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE). 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.

	WTDX.DE	SMLN.DE	Difference
Sharpe ratio Return per unit of total volatility	1.75	1.25	+0.50
Sortino ratio Return per unit of downside risk	2.23	1.81	+0.43
Omega ratio Gain probability vs. loss probability	1.34	1.25	+0.09
Calmar ratio Return relative to maximum drawdown	5.23	2.75	+2.47
Martin ratio Return relative to average drawdown	15.48	9.23	+6.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WTDX.DE vs. SMLN.DE - Sharpe Ratio Comparison

The current WTDX.DE Sharpe Ratio is 1.75, which is higher than the SMLN.DE Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of WTDX.DE and SMLN.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	WTDX.DE	SMLN.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	1.25	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	0.49	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.55	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.49	+0.08

Correlation

The correlation between WTDX.DE and SMLN.DE is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

WTDX.DE vs. SMLN.DE - Dividend Comparison

WTDX.DE's dividend yield for the trailing twelve months is around 1.27%, while SMLN.DE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
WTDX.DE WisdomTree Japan Equity UCITS ETF USD Hedged	1.27%	1.52%	1.39%	1.83%	2.16%	1.26%	1.88%	1.80%	1.82%	1.07%	1.73%	0.05%
SMLN.DE Invesco JPX-Nikkei 400 UCITS 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%

Drawdowns

WTDX.DE vs. SMLN.DE - Drawdown Comparison

The maximum WTDX.DE drawdown since its inception was -34.50%, which is greater than SMLN.DE's maximum drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for WTDX.DE and SMLN.DE.

Drawdown Indicators

	WTDX.DE	SMLN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.50%	-28.42%	-6.08%
Max Drawdown (1Y) Largest decline over 1 year	-15.41%	-9.91%	-5.50%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-19.85%	-3.78%
Max Drawdown (10Y) Largest decline over 10 years	-32.85%	-28.42%	-4.43%
Current Drawdown Current decline from peak	-2.52%	-4.28%	+1.76%
Average Drawdown Average peak-to-trough decline	-8.04%	-6.08%	-1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.81%	-0.08%

Volatility

WTDX.DE vs. SMLN.DE - Volatility Comparison

The current volatility for WisdomTree Japan Equity UCITS ETF USD Hedged (WTDX.DE) is 7.88%, while Invesco JPX-Nikkei 400 UCITS ETF (SMLN.DE) has a volatility of 8.70%. This indicates that WTDX.DE experiences smaller price fluctuations and is considered to be less risky than SMLN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WTDX.DE	SMLN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	8.70%	-0.82%
Volatility (6M) Calculated over the trailing 6-month period	15.07%	14.19%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	23.52%	19.65%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.39%	15.97%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.33%	16.26%	+4.07%