DXJ vs FLJH: Grades, Fees and Holdings Compared

WisdomTree Japan Hedged Equity Fund

DXJBNYSE Arca

Franklin FTSE Japan Hedged ETF

FLJHANYSE Arca

Overlap

65.7%by weight

Expense ratio

FLJH −0.39pt a year

DXJ0.48%FLJH0.09%

Avg volume · 30D

DXJ 23.7×the volume

DXJ814KFLJH34.3K

5Y return · a year

DXJ +5.0pt

DXJ+25.6%FLJH+20.6%

DXJ vs FLJH Performance

Nov 2, 2021 – Nov 2, 2026

+213.0%DXJ+154.7%FLJH

Expense ratio: DXJ 0.48%; FLJH 0.09%, better
Fund size: DXJ $7.05B; FLJH $201M
1Y total return: DXJ +30.6%, better; FLJH +22.5%
Yield (12M): DXJ No data; FLJH 6.17%
Holdings: DXJ 490; FLJH 448
Avg volume (30D): DXJ 814K sh, better; FLJH 34.3K sh
NAV per share: DXJ $58.90; FLJH $44.77
52W range

ETF.net Grade

Pillar letters and Scores for DXJ, FLJH, with each pillar’s weight
Pillar	DXJ	FLJH
Cost30% weight	B68	A97Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B64Higher	B63
Tradability15% weight	C53Higher	C52
Holdings10% weight	C48	A74Higher
Durability5% weight	A80Higher	C53

Rank among Japan funds

How we build Categories ›

Same Category. DXJ and FLJH are both graded against the same 18 Japan funds, so their Grades compare head to head.

Japan⁠

Category · 18 funds

See all 18 ›

FLJH ranks 3rd and DXJ 10th of 18 funds in the Japan Category.

Rank 1AFLJPFranklin FTSE Japan ETFScore 82
Rank 2ABBJPJPMorgan BetaBuilders Japan ETFScore 80
Rank 3AFLJHFranklin FTSE Japan Hedged ETFScore 75
Rank 4AJPXNiShares JPX-Nikkei 400 ETFScore 74
Rank 9BDBJPXtrackers MSCI Japan Hedged Equity ETFScore 63
Rank 10BDXJWisdomTree Japan Hedged Equity FundScore 62
Rank 11BOPPJWisdomTree Japan Opportunities FundScore 57

Our read on each fund

ETF.net Research

DXJBWisdomTree Japan Hedged Equity Fund

FLJHAFranklin FTSE Japan Hedged ETF

In short

DXJ Japanese stocks with the yen taken out of the math. DXJ has run its hedged, dividend-screened index since 2006, pairing roughly 400 Japanese companies with a hedge against yen-dollar swings.

FLJH Japan stocks with the yen taken out of the equation. FLJH hedges the currency back to dollars for 0.09% a year, the same fee as Franklin's unhedged twin and a fraction of the typical Japan fund.

Stated mandate

DXJ The fund seeks to track the WisdomTree Japan Hedged Equity Index, providing Japanese equity exposure while reducing the effect of yen-dollar currency movements.

FLJH The Fund seeks to closely track, before fees and expenses, the performance of the FTSE Japan Capped Hedged Index through passive indexing, using replication or representative sampling.

Why people hold it

DXJ The hedge is the point: the index aims to strip out yen-dollar moves, so returns track Japanese share prices rather than the currency.
Costs 0.48% a year, a shade under the median for single-country Japan funds.
About 400 holdings picked through a dividend screen rather than a straight market-cap list, with cash paid out quarterly.
A multi-billion-dollar fund and one of the easier names in its Japan peer group to move in and out of.

FLJH 0.09% a year. Currency hedging usually carries a surcharge; here it costs the same as Franklin's unhedged FLJP and far less than the median Japan fund.
The hedge is the whole point: it aims to strip out yen-dollar moves so what you own is Japanese share prices, not a bet on the currency.
Broad and deliberately un-top-heavy: roughly 500 Japanese companies tracked through a capped index, so no single name can swell into an outsized slice.
Live since 2017 and one of the stronger builds in a crowded Japan peer group of index trackers.

Worth knowing

DXJ Hedging cuts both ways. If the yen strengthens against the dollar, you give up the lift an unhedged Japan fund would collect.
Cheaper hedged Japan exposure exists: FLJH runs at 0.09%.
The dividend screen means this won't mirror a standard Japan market-cap index, so sector and company weights sit differently.

FLJH The hedge cuts both ways. When the yen strengthens against the dollar, you give up the tailwind an unhedged Japan fund would capture.
Thinly traded and small next to the Japan heavyweights, so bid-ask spreads can run wider than headline fee comparisons suggest.
Distributions land once or twice a year, not monthly or quarterly, so income arrives in lumps.

Full DXJ profile⁠

Full FLJH profile⁠

DXJ vs FLJH Holdings

How DXJ and FLJH differ

Overlap by weight

65.7%

Shared holdings make up 92.0% of DXJ and 75.6% of FLJH.

Level by level

Holdings244 in both65.7%
Sector11 Sectors85.1%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in DXJ and FLJH, widest gap first
Sector	More in DXJMore in FLJH	DXJ	FLJH
Technology	FLJH +7.0 points	13.4%	20.4%
Communication	FLJH +4.4 points	4.1%	8.5%
Materials	DXJ +3.6 points	7.5%	3.9%
Consumer Discretionary	DXJ +3.5 points	15.5%	12.0%
Financials	DXJ +3.2 points	21.3%	18.1%
Real Estate	FLJH +2.5 points	0.0%	2.5%
Industrials	DXJ +1.9 points	25.3%	23.4%
Utilities	FLJH +1.1 points	0.1%	1.2%
Health Care	DXJ +1.0 points	6.2%	5.2%
Consumer Staples	DXJ +1.0 points	5.0%	4.0%
Energy	DXJ +0.8 points	1.6%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in DXJ and FLJH, widest gap first
Country	More in DXJMore in FLJH	DXJ	FLJH
Japan	Same weight	100.0%	100.0%

Outside the US: DXJ 100% developed, 0% emerging. FLJH 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

DXJ29.9%
FLJH25.1%

Securities held

DXJ487
FLJH444

Asset class

DXJ: Equity
FLJH: Equity

Holdings

Only in DXJ243
In both244
Only in FLJH200

Only in DXJ

243 securities, 6.9% of DXJ by weight

Nippon Shokubai Co Ltd0.10%
Citizen Watch Co Ltd0.09%
ADEKA Corp0.09%
Kose Corp0.08%
Exedy Corp0.07%
Takeuchi Mfg Co0.07%
Rengo Co Ltd0.07%
UBE Corp0.07%
Nippon Kayaku Co Ltd0.07%
Ehime Bank Ltd/The0.06%
Aica Kogyo Co Ltd0.06%
Hanwa Co Ltd0.06%
Penta-Ocean Construction Co Ltd0.06%
Lintec Corp0.06%
Tomy Co Ltd0.06%
Fuji Seal Intl Inc0.06%
Pigeon Corp0.06%
Tsubakimoto Chain Co0.06%
Yodogawa Steel Works Ltd0.06%
OSG Corp0.05%
NS United Kaiun Kaisha Ltd0.05%
Pilot Corp0.05%
Anritsu Corp0.05%
Meidensha Corp0.05%
Tokai Rika Co Ltd0.05%
Makino Milling Machine Co Ltd0.05%
Glory Ltd0.05%
Yamabiko Corp0.05%
Mizuno Corp0.05%
Daikyonishikawa Corp0.05%
Max Co Ltd0.05%
FCC Co Ltd0.05%
Kaga Electronics Co Ltd0.05%
Nisshinbo Holdings Inc0.05%
KYB Corp0.04%
Inabata & Co Ltd0.04%
Amano Corp0.04%
Phc Holdings Corp0.04%
Sakata INX Corp0.04%
Nisshin Oillio Group Ltd/The0.04%
ARE Holdings Inc0.04%
Tamron Co Ltd0.04%
Topre Corp0.04%
Artience Co Ltd0.04%
Nippon Shinyaku Co Ltd0.04%
UACJ Corp0.04%
Tachi-S Co0.04%
Kagome Co Ltd0.04%
Ferrotec Holdings Corp0.04%
Taikisha Ltd0.04%

Only in FLJH

200 securities, 23.9% of FLJH by weight

Recruit Holdings Co Ltd2.63%
Kioxia Holdings Corp1.59%
Kddi Corp0.80%
Softbank Corp0.69%
Japan Post Bank Co Ltd0.56%
Resona Holdings Inc0.51%
Kyocera Corp0.44%
Mitsubishi Estate Co Ltd0.42%
Mitsui Fudosan Co Ltd0.41%
Japan Post Holdings Co Lt0.39%
East Japan Railway Co0.39%
Oriental Land Co Ltd0.37%
Net Current Assets0.36%
Central Japan Railway Co0.34%
Nippon Yusen Kk0.31%
Aeon Co Ltd0.29%
Secom Co Ltd0.28%
Daiwa House Industry Co L0.27%
Nomura Research Institute0.27%
Kansai Electric Power Co0.26%
Asahi Group Holdings Ltd0.24%
Daiwa Securities Group In0.24%
Shionogi & Co Ltd0.23%
Tokyo Gas Co Ltd0.22%
T&D Holdings Inc0.21%
Sumitomo Realty & Develop0.21%
Osaka Gas Co Ltd0.21%
Japan Exchange Group Inc0.21%
Obic Co Ltd0.20%
Sumitomo Metal Mining Co0.20%
Chubu Electric Power Co I0.19%
Nidec Corp0.18%
Chiba Bank Ltd/The0.18%
Baycurrent Inc0.17%
Yokohama Financial Group0.17%
Taisei Corp0.16%
Subaru Corp0.15%
Pan Pacific International0.15%
Nitori Holdings Co Ltd0.14%
Ly Corp0.14%
West Japan Railway Co0.13%
Shizuoka Financial Group0.13%
Mebuki Financial Group In0.13%
Isetan Mitsukoshi Holding0.13%
Fukuoka Financial Group I0.13%
Kawasaki Kisen Kaisha Ltd0.12%
Dai Nippon Printing Co Lt0.12%
Mitsubishi Hc Capital Inc0.11%
Hachijuni Nagano Bank Ltd0.10%
Meiji Holdings Co Ltd0.10%

Weight gaps

The 100 widest of 244 Holdings in both funds.

Holding weights in DXJ and FLJH, widest gap first
Holding	More in DXJMore in FLJH	DXJ	FLJH
Toyota Motor Corp	DXJ +1.78 points	5.07%	3.29%
Sumitomo Mitsui Financial Group	DXJ +1.74 points	4.12%	2.38%
Nippon Telegraph & Telephone Corp	DXJ +1.70 points	2.18%	0.48%
Sony Group Corp	FLJH +1.54 points	0.84%	2.38%
Japan Tobacco Inc	DXJ +1.35 points	2.16%	0.81%
Tokyo Electron Ltd	DXJ +0.89 points	3.03%	2.14%
MS&AD Insurance Group Holdings Inc	DXJ +0.88 points	1.59%	0.71%
Honda Motor Co Ltd	DXJ +0.82 points	1.50%	0.68%
Mitsubishi Heavy Industries Ltd	FLJH +0.75 points	0.38%	1.13%
ORIX Corp	DXJ +0.71 points	1.37%	0.66%
Chugai Pharmaceutical Co Ltd	DXJ +0.68 points	1.12%	0.44%
Keyence Corp	FLJH +0.66 points	0.83%	1.49%
Bridgestone Corp	DXJ +0.64 points	1.07%	0.43%
Takeda Pharmaceutical Co Ltd	DXJ +0.62 points	1.72%	1.10%
Denso Corp	DXJ +0.63 points	0.95%	0.32%
Astellas Pharma Inc	DXJ +0.61 points	1.07%	0.46%
Tokio Marine Holdings Inc	DXJ +0.61 points	2.24%	1.63%
Canon Inc	DXJ +0.59 points	0.97%	0.38%
Nintendo Co Ltd	DXJ +0.54 points	1.41%	0.87%
Sompo Holdings Inc	DXJ +0.52 points	1.14%	0.62%
Mitsubishi UFJ Financial Group	DXJ +0.52 points	4.33%	3.81%
Hoya Corp	FLJH +0.44 points	0.46%	0.90%
Murata Manufacturing Co Ltd	FLJH +0.43 points	0.70%	1.13%
Dai-ichi Life Holdings Inc	DXJ +0.42 points	1.06%	0.64%
Softbank Corp	DXJ +0.41 points	2.13%	1.72%
Mitsubishi Corp	DXJ +0.41 points	1.95%	1.54%
Mitsubishi Electric Corp	FLJH +0.39 points	0.55%	0.94%
Mitsui & Co Ltd	DXJ +0.40 points	1.65%	1.25%
Panasonic Holdings Corp	FLJH +0.39 points	0.44%	0.83%
NEC Corp	FLJH +0.36 points	0.26%	0.62%
Sumitomo Mitsui Trust Holdings	DXJ +0.36 points	0.79%	0.43%
Fujikura Ltd	FLJH +0.34 points	0.31%	0.65%
ENEOS Holdings Inc	DXJ +0.33 points	0.71%	0.38%
Inpex Corp	DXJ +0.31 points	0.67%	0.36%
Hitachi Ltd	FLJH +0.29 points	2.01%	2.30%
Ibiden Co Ltd	FLJH +0.26 points	0.17%	0.43%
TDK Corp	FLJH +0.25 points	0.25%	0.50%
Nomura Holdings Inc	DXJ +0.24 points	0.69%	0.45%
Disco Corp	FLJH +0.24 points	0.20%	0.44%
Nippon Steel Corp	DXJ +0.23 points	0.57%	0.34%
Daiichi Sankyo Co Ltd	DXJ +0.24 points	0.74%	0.50%
Sekisui House Ltd	DXJ +0.23 points	0.44%	0.21%
Ajinomoto Co Inc	FLJH +0.21 points	0.28%	0.49%
Fujitsu Ltd	FLJH +0.20 points	0.42%	0.62%
Shin-Etsu Chemical Co Ltd	FLJH +0.20 points	0.90%	1.10%
Asics Corp	FLJH +0.20 points	0.13%	0.33%
Lasertec Corp	FLJH +0.18 points	0.12%	0.30%
Idemitsu Kosan Co Ltd	DXJ +0.18 points	0.29%	0.11%
Kao Corp	DXJ +0.18 points	0.52%	0.34%
Kirin Holdings Co Ltd	DXJ +0.18 points	0.41%	0.23%
Resonac Holdings Corp	FLJH +0.16 points	0.08%	0.24%
Seven & I Holdings Co Ltd	DXJ +0.16 points	0.60%	0.44%
Kajima Corp	DXJ +0.16 points	0.36%	0.20%
Itochu Corp	DXJ +0.15 points	1.64%	1.49%
Sumitomo Corp	DXJ +0.15 points	0.85%	0.70%
Japan Airlines Co Ltd	DXJ +0.15 points	0.19%	0.04%
Persol Holdings Co Ltd	DXJ +0.15 points	0.20%	0.05%
IHI Corp	FLJH +0.14 points	0.09%	0.23%
Yokohama Rubber Co Ltd	DXJ +0.14 points	0.23%	0.09%
JFE Holdings Inc	DXJ +0.13 points	0.23%	0.10%
SMC Corp/Japan	FLJH +0.14 points	0.22%	0.36%
SBI Holdings Inc/Japan	DXJ +0.14 points	0.30%	0.16%
Isuzu Motors Ltd	DXJ +0.13 points	0.25%	0.12%
Daikin Industries Ltd	FLJH +0.13 points	0.44%	0.57%
Koei Tecmo Holdings Co Ltd	DXJ +0.13 points	0.15%	0.02%
Makita Corp	DXJ +0.13 points	0.25%	0.12%
Aisin Co Ltd	DXJ +0.13 points	0.23%	0.10%
Terumo Corp	FLJH +0.12 points	0.23%	0.35%
Otsuka Holdings Co Ltd	FLJH +0.12 points	0.42%	0.54%
Marubeni Corp	DXJ +0.11 points	0.84%	0.73%
Mitsui Osk Lines Ltd	DXJ +0.11 points	0.35%	0.24%
Toyo Seikan Group Ltd	DXJ +0.11 points	0.17%	0.06%
Niterra Co Ltd	DXJ +0.11 points	0.24%	0.13%
Suntory Beverage & Food Ltd	DXJ +0.10 points	0.17%	0.07%
Kyowa Kirin Co Ltd	DXJ +0.11 points	0.18%	0.07%
Fanuc Ltd	FLJH +0.11 points	0.44%	0.55%
SCREEN Holdings Co Ltd	FLJH +0.10 points	0.10%	0.20%
Yamaha Motor Co Ltd	DXJ +0.10 points	0.25%	0.15%
Nexon Co Ltd	DXJ +0.10 points	0.22%	0.12%
Kokusai Electric Corp	FLJH +0.09 points	0.07%	0.16%
Furukawa Electric Co Ltd	FLJH +0.09 points	0.10%	0.19%
Hitachi Construction Machinery	DXJ +0.10 points	0.17%	0.07%
Sumitomo Electric Industries Ltd	DXJ +0.10 points	0.64%	0.54%
Mizuho Financial Group Inc	DXJ +0.09 points	1.96%	1.87%
Ryohin Keikaku Co Ltd	FLJH +0.09 points	0.15%	0.24%
Mazda Motor Corp	DXJ +0.09 points	0.15%	0.06%
Brother Industries Ltd	DXJ +0.08 points	0.19%	0.11%
AGC Inc	DXJ +0.09 points	0.19%	0.10%
Eisai Co Ltd	DXJ +0.08 points	0.22%	0.14%
Food & Life Companies Ltd	FLJH +0.07 points	0.05%	0.12%
Komatsu Ltd	DXJ +0.08 points	0.64%	0.56%
Sanwa Holdings Corp	DXJ +0.08 points	0.15%	0.07%
Ono Pharmaceutical Co Ltd	DXJ +0.07 points	0.17%	0.10%
Nissan Chemical Corp	DXJ +0.08 points	0.19%	0.11%
Fast Retailing Co Ltd	FLJH +0.07 points	1.32%	1.39%
Unicharm Corp	DXJ +0.07 points	0.18%	0.11%
Ebara Corp	FLJH +0.07 points	0.11%	0.18%
Oji Holdings Corp	DXJ +0.06 points	0.12%	0.06%
Tosoh Corp	DXJ +0.07 points	0.14%	0.07%
Obayashi Corp	DXJ +0.06 points	0.25%	0.19%

All 441 DXJ holdings⁠All 490 FLJH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DXJ vs FLJH Cost

Overpaying DXJ vs FLJH

$7,707

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DXJ 0.48%
$9,605
FLJH 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

DXJ 0.48%
FLJH 0.09%
Overpaying

Year by year

Year	DXJ	FLJH	Overpaying
10	$865	$165	$700
20	$3,328	$646	$2,682
30	$9,605	$1,898	$7,707

Expense ratio

0.48%DXJ
0.09%FLJH, cheaper

FLJH0.09%DXJ0.48%

0.09%1.92%

Middle half of Japan funds
Median 0.54%

FLJH cheapest of 18 funds

DXJ 6th cheapest of 18 funds

DXJ vs FLJH Dividends

Last 12 months to Nov 2, 2026

Yield (12M): DXJ No data; FLJH 6.17%
Payout (12M): DXJ No data; FLJH $2.74
Last payment: DXJ $0.03; FLJH $0.29
Ex-dividend: DXJ Sep 25, 2026; FLJH Jun 26, 2026
Paid on: DXJ Sep 29, 2026; FLJH Jul 6, 2026
Frequency: DXJ Quarterly; FLJH Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

DXJQuarterly · 26 paymentsAll DXJ payments⁠

FLJHTwice a year · 13 paymentsAll FLJH payments⁠

DXJ vs FLJH Risk

Fall from peak · 5 years

DXJ
FLJH

Risk facts

VolatilityStd dev, 3 years: DXJ 12.4%, betterFLJH 12.5%
Return per unit of riskSharpe ratio, 3 years: DXJ 1.71, betterFLJH 1.59
Worst fallMax drawdown, 5 years: DXJ −22.2%FLJH −20.4%, better
Market sensitivityBeta, 5 years: DXJ 0.48FLJH 0.62; Market = 1

DXJ and FLJH in the news

All news⁠

Deep Dive
Hedged Japan funds rose 0.7% as the yen fell; VGK dropped 1.8%
Sep 20, 2026DXJ
Deep Dive
Unhedged Japan funds rose 0.3% on the yen; VGK fell 1.9% after the ECB hike
Sep 13, 2026DXJ
News
Japan wholesale prices rise 7.6%, confirming a Bank of Japan hike already priced for next week
Sep 11, 2026DXJ
Deep Dive
Unhedged Japan rose 2.5% on the yen; Europe funds slipped
Sep 5, 2026DXJ

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DXJ vs FLJH

In short

Stated mandate

Why people hold it