XC vs. DXJ
XC (WisdomTree Emerging Markets ex-China Fund) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - XC is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 3 years, XC returned 10.32%/yr vs 31.66%/yr for DXJ. At a 0.46 correlation, their price movements are largely independent. XC charges 0.32%/yr vs 0.48%/yr for DXJ.
Performance
XC vs. DXJ - Performance Comparison
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Returns By Period
In the year-to-date period, XC achieves a -1.97% return, which is significantly lower than DXJ's 20.23% return.
XC
- 1D
- -1.25%
- 1M
- 0.63%
- YTD
- -1.97%
- 6M
- -2.47%
- 1Y
- 7.06%
- 3Y*
- 10.32%
- 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%
XC vs. DXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XC WisdomTree Emerging Markets ex-China Fund | -1.97% | 18.19% | 5.49% | 21.31% | 1.58% |
DXJ WisdomTree Japan Hedged Equity Fund | 20.23% | 32.78% | 29.83% | 42.04% | 2.20% |
Correlation
The correlation between XC and DXJ is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.46 |
The correlation between XC and DXJ has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.
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Return for Risk
XC vs. DXJ — Risk / Return Rank
XC
DXJ
XC vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-China Fund (XC) 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.
| XC | DXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.55 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 5.12 | -4.55 |
| Martin ratioReturn relative to average drawdown | 1.51 | 19.78 | -18.28 |
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Drawdowns
XC vs. DXJ - Drawdown Comparison
The maximum XC drawdown since its inception was -20.97%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for XC and DXJ.
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Drawdown Indicators
| XC | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.97% | -49.63% | +28.66% |
Max Drawdown (1Y)Largest decline over 1 year | -12.47% | -10.98% | -1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.97% | -22.19% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.14% | — |
Current DrawdownCurrent decline from peak | -7.94% | -3.57% | -4.37% |
Average DrawdownAverage peak-to-trough decline | -4.17% | -14.30% | +10.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 2.83% | +1.86% |
Volatility
XC vs. DXJ - Volatility Comparison
The current volatility for WisdomTree Emerging Markets ex-China Fund (XC) is 5.04%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 6.28%. This indicates that XC experiences smaller price fluctuations and is considered to be less risky than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XC | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 6.28% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 14.08% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.09% | 18.14% | -3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.92% | 19.08% | -3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.92% | 20.00% | -4.08% |
XC vs. DXJ - Expense Ratio Comparison
XC has a 0.32% expense ratio, which is lower than DXJ's 0.48% expense ratio.
Dividends
XC vs. DXJ - Dividend Comparison
XC's dividend yield for the trailing twelve months is around 12.22%, more than DXJ's 1.08% yield.
| 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% |
XC WisdomTree Emerging Markets ex-China Fund | 12.22% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XC and DXJ have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DXJ has higher volatility (6.28%) compared to XC (5.04%). In terms of maximum drawdown, XC dropped -20.97% vs DXJ's -49.63%.
On 3-year performance, DXJ leads with 31.66% vs 10.32% for XC. On fees, XC is cheaper at 0.32% per year. On volatility, XC has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DXJ has performed better with a 31.66% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XC is cheaper with a 0.32% expense ratio, compared with 0.48% for DXJ.
XC has the higher dividend yield at 12.22%, compared with 1.08% for DXJ.
XC is categorized as Emerging Markets Diversified, while DXJ is Japan Equities. XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while DXJ tracks WisdomTree Japan Hedged Equity Index. Their fees differ too: 0.32% for XC and 0.48% for DXJ.
DXJ currently has the higher Sharpe Ratio (3.10 vs 0.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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