ETF Research Center

WisdomTree Japan SmallCap Dividend Fund

ALTAR
Score™

6.5%

Recommen-
dation

NEUTRAL

2025E 2026E
P/E ratio	14.2x	P/Sales ratio	0.6x
P/BV ratio	1.0x	Div. yield	2.6%

Description
Performance
Comps
Fundamentals
Valuation
Rating

WisdomTree Japan SmallCap Dividend Fund is an exchange-trade fund incorporated in the USA. The Fund seeks investment results that correspond to the WisdomTree Japan SmallCap Dividend Index.

FUND BASICS
Category	International Equities
Fund Sponsor	WisdomTree ETFs/USA
Website	www.wisdomtree.com
Inception date	Jun 16, 2006
Assets (mns)	$336
Currency	USD
Expense ratio	58 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	Bank of New York Mellon
Weighting	Dividend
Index replication	Optimized
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	807
Wgt avg mkt cap (mns)	$1,297
Large cap (>$10bn)	0.0%
Mid cap ($2-10bn)	11.3%
Small cap (<$2bn)	88.7%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	5.5 %
DAISHI HOKUETSU FINANCIAL GROUP, I	0.6 %
EXEDY CORP	0.6 %
HAZAMA ANDO CORP.	0.6 %
CHUGIN FINANCIAL GROUP INC	0.6 %
NSK LTD	0.6 %
INFRONEER HOLDINGS INC	0.5 %
SEINO HOLDINGS CO LTD	0.5 %
NIPPON SHOKUBAI CO LTD	0.5 %
TOA CORP	0.5 %
ADEKA CORP	0.5 %

TOP COUNTRY EXPOSURE
	JAPAN	78.6 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru December 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
30.0%	30.0%	8.3%	7.8%	5.4%

Market Correlations
versus...	Beta	R-squared
S&P500	0.34	19%
MSCI EAFE	0.68	52%
MSCI Emg. Mkts.	0.44	25%

Technical Indicators
Recent close	$99.69
30d moving avg.	$97.32
Annualized volatility	12.2%
Short interest (ETF)	1.4%
Relative strength (RSI)	63

Liquidity measures
Avg. volume (thou.)	12
Turnover	0.4%
Bid/Ask (% of price)	0.52%
ADV underlying (mns)	$1,743

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 148 potential alternatives to the WisdomTree Japan SmallCap Dividend Fund ETF based on the alternatives' overlap in portfolio holdings with DFJ. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

DFJ

Expense:

58 bp

ALTAR Score™:

6.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH DFJ
Ticker	Fund Name	Overlap¹ vs DFJ (%)	Expense ratio (bp)	Savings vs DFJ (bp)	ALTAR Score™ (%)	ALTAR vs DFJ (%)
SCJ	iShares MSCI Japan Small-Cap ETF	30.6	50	8	6.0	-0.5
GWX	SPDR S&P International Small Cap ETF	22.4	40	18	5.9	-0.5
DLS	WisdomTree International SmallCap Dividend Fund	21.5	58	0	7.3	+0.8
AVDV	Avantis International Small Cap Value ETF	19.2	36	22	7.7	+1.2
AVDS	Avantis International Small Cap Equity ETF	16.8	30	28	5.9	-0.5
FNDC	Schwab Fundamental International Small Co. Index ETF	15.5	39	19	5.3	-1.2
DISV	Dimensional International Small Cap Value ETF	15.4	42	16	8.0	+1.5
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	14.4	49	9	6.2	-0.3
FDTS	First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	14.0	80	-22	9.4	+3.0
DFIS	Dimensional International Small Cap ETF	13.8	39	19	6.2	-0.2
SCHC	Schwab International Small-Cap Equity ETF	11.5	11	47	6.7	+0.3
SCZ	iShares MSCI EAFE Small-Cap ETF	10.8	40	18	6.2	-0.2
DXJ	WisdomTree Japan Hedged Equity Fund	9.8	48	10	5.8	-0.7
TLTD	FlexShares Morningstar Developed Markets ex-US Factor Tilt	9.8	39	19	6.9	+0.4
ISCF	iShares International SmallCap Equity Factor ETF	9.6	23	35	7.4	+0.9
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	8.0	8	50	6.5	+0.0
DXIV	Dimensional International Vector Equity ETF	7.7	34	24	6.7	+0.2
MJSC	MUFG Japan Small Cap Active ETF	7.7	85	-27	5.3	-1.2
DXJS	WisdomTree Japan Hedged SmallCap Equity Fund	6.4	58	0	5.9	-0.6
DTH	WisdomTree International High Dividend Fund	4.7	58	0	7.5	+1.1
DFIC	Dimensional International Core Equity 2 ETF	4.7	23	35	6.4	-0.1
DDWM	WisdomTree Dynamic Currency Hedged International Equity Fund	4.6	40	18	6.5	+0.0
DWM	WisdomTree International Equity Fund	4.5	48	10	6.4	-0.0
IPAC	iShares Core MSCI Pacific ETF	4.4	9	49	5.7	-0.7
VPL	Vanguard FTSE Pacific ETF	4.3	7	51	5.8	-0.7
DFSI	Dimensional International Sustainability Core 1 ETF	3.2	24	34	5.5	-0.9
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	3.0	30	28	6.6	+0.2
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	2.9	39	19	5.8	-0.6
AVDE	Avantis International Equity ETF	2.9	23	35	6.4	-0.1
DEEF	Xtrackers FTSE Developed ex US Multifactor ETF	2.8	24	34	6.4	-0.0
JPXN	iShares JPX-Nikkei 400 ETF	2.7	48	10	5.8	-0.7
FLJP	Franklin FTSE Japan ETF	2.7	9	49	5.5	-0.9
CGV	Conductor Global Equity Value ETF	2.6	130	-72	6.8	+0.4
AVSD	Avantis Responsible International Equity ETF	2.6	23	35	4.7	-1.8
FLJH	Franklin FTSE Japan Hedged ETF	2.5	9	49	5.5	-1.0
DFAI	Dimensional International Core Equity Market ETF	2.2	18	40	6.1	-0.4
FYLD	Cambria Foreign Shareholder Yield ETF	2.1	59	-1	10.3	+3.9
IPKW	Invesco International BuyBack Achievers ETF	1.7	55	3	8.0	+1.6
IEFA	iShares Core MSCI EAFE ETF	1.6	7	51	6.2	-0.3
CCNR	ALPS CoreCommodity Natural Resources ETF	1.6	39	19	7.3	+0.8
VEA	Vanguard FTSE Developed Markets ETF	1.5	3	55	6.2	-0.3
JAPN	Horizon Kinetics Japan Owner Operator ETF	1.4	85	-27	5.2	-1.3
IDEV	iShares Core MSCI International Developed Markets ETF	1.3	4	54	6.1	-0.3
VSGX	Vanguard ESG International Stock ETF	1.3	10	48	6.7	+0.3
JIVE	JPMorgan International Value ETF	1.2	55	3	9.6	+3.2
IXUS	iShares Core MSCI Total International Stock ETF	1.2	7	51	6.8	+0.3
VXUS	Vanguard Total International Stock ETF	1.1	5	53	6.9	+0.4
INTF	iShares International Equity Factor ETF	1.0	15	43	6.6	+0.2
VIGI	Vanguard International Dividend Appreciation ETF	0.9	10	48	5.8	-0.7
DWX	SPDR S&P International Dividend ETF	0.9	45	13	6.8	+0.4
SPDW	SPDR Portfolio Developed World ex-US ETF	0.9	3	55	6.1	-0.4
JPIN	J.P. Morgan Diversified Return International Equity ETF	0.8	37	21	7.3	+0.8
IGRO	iShares International Dividend Growth ETF	0.8	15	43	6.3	-0.1
IPAV	Global X Infrastructure Development ex-U.S. ETF	0.8	55	3	5.9	-0.5
PICK	iShares MSCI Global Metals & Mining Producers ETF	0.8	39	19	8.6	+2.2
OAIM	OneAscent International Equity ETF	0.8	95	-37	4.7	-1.8
WBAT	WisdomTree Battery Value Chain and Innovation Fund	0.7	45	13	1.6	-4.8
EFRA	iShares Environmental Infrastructure and Industrials ETF	0.7	47	11	4.9	-1.6
FID	First Trust S&P International Dividend Aristocrats ETF	0.7	60	-2	7.3	+0.8
WDIV	SPDR S&P Global Dividend ETF	0.7	40	18	8.4	+1.9
RAYJ	Rayliant SMDAM Japan Equity ETF	0.7	72	-14	3.3	-3.2
DVYA	iShares Asia/Pacific Dividend ETF	0.7	49	9	6.8	+0.3
FNDF	Schwab Fundamental International Large Co. Index ETF	0.7	25	33	8.2	+1.8
JHID	John Hancock International High Dividend ETF	0.6	46	12	8.4	+2.0
CUT	Invesco MSCI Global Timber ETF	0.5	61	-3	10.0	+3.5
SCHF	Schwab International Equity ETF	0.5	6	52	6.3	-0.2
VEGI	iShares MSCI Agriculture Producers ETF	0.5	39	19	8.1	+1.6
AZTD	Aztlan Global Stock Selection DM SMID ETF	0.5	75	-17	5.3	-1.1
VNQI	Vanguard Global ex-U.S. Real Estate ETF	0.5	12	46	8.0	+1.6
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	0.5	10	48	6.4	-0.1
ROBO	ROBO Global Robotics & Automation Index ETF	0.5	95	-37	2.7	-3.7
IBAT	iShares Energy Storage & Materials ETF	0.5	47	11	2.4	-4.1
SHPP	Pacer Industrials and Logistics ETF	0.5	60	-2	7.7	+1.3
TBLU	Tortoise Global Water ESG ETF	0.5	40	18	4.3	-2.2
MOO	VanEck Agribusiness ETF	0.5	53	5	9.5	+3.0
PXF	Invesco FTSE RAFI Developed Markets ex-U.S. ETF	0.4	45	13	7.5	+1.1
TINT	ProShares Smart Materials ETF	0.4	58	0	5.0	-1.5
IBOT	Vaneck Robotics ETF	0.4	47	11	3.4	-3.1
UFO	Procure Space ETF	0.4	75	-17	0.0	-6.4
COPX	Global X Copper Miners ETF	0.4	65	-7	4.1	-2.3
GMET	VanEck Green Metals ETF	0.4	63	-5	5.3	-1.1
COPA	Themes Copper Miners ETF	0.4	35	23	3.5	-3.0
FTRI	First Trust Indxx Global Natural Resources Income ETF	0.4	70	-12	6.4	-0.1
JSTC	Adasina Social Justice All Cap Global ETF	0.4	89	-31	4.3	-2.2
IVAL	Alpha Architect International Quantitative Value ETF	0.4	49	9	9.0	+2.6
GQRE	FlexShares Global Quality Real Estate Index Fund	0.4	45	13	7.5	+1.1
DRIV	Global X Autonomous & Electric Vehicles ETF	0.4	68	-10	4.1	-2.4
VEU	Vanguard FTSE All-World ex-US Index Fund	0.4	4	54	6.9	+0.5
VYMI	Vanguard International High Dividend Yield ETF	0.4	17	41	8.2	+1.8
VT	Vanguard Total World Stock ETF	0.4	6	52	5.2	-1.3
FDRV	Fidelity Electric Vehicles and Future Transportation ETF	0.4	39	19	-1.3	-7.7
VIDI	Vident International Equity Strategy ETF	0.4	61	-3	9.2	+2.8
IMFL	Invesco International Developed Dynamic Multifactor ETF	0.4	34	24	5.0	-1.4
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	0.3	58	0	3.8	-2.6
EV	Mast Global Battery Recycling & Production ETF	0.3	65	-7	7.2	+0.7
IMOM	Alpha Architect International Quantitative Momentum ETF	0.3	49	9	3.9	-2.6
PBD	Invesco Global Clean Energy ETF	0.3	75	-17	0.6	-5.8
SLX	VanEck Steel ETF	0.3	56	2	11.7	+5.3
PIO	Invesco Global Water ETF	0.3	75	-17	3.9	-2.6
HUMN	Roundhill Humanoid Robotics ETF	0.3	75	-17	0.9	-5.5
FTAG	First Trust Indxx Global Agriculture ETF	0.3	70	-12	7.5	+1.1
JIG	JPMorgan International Growth ETF	0.2	55	3	4.0	-2.4
IDRV	iShares Self-driving EV & Tech ETF	0.2	47	11	3.1	-3.3
EBLU	Ecofin Global Water ESG Fund	0.2	40	18	4.2	-2.3
BULD	Pacer BlueStar Engineering the Future ETF	0.2	60	-2	0.3	-6.2
FDHT	Fidelity Digital Health ETF	0.2	39	19	1.3	-5.1
STCE	Schwab Crypto Thematic ETF	0.2	30	28	3.2	-3.3
DMAT	Global X Disruptive Materials ETF	0.2	59	-1	4.9	-1.6
EVX	VanEck Environmental Services ETF	0.2	55	3	2.2	-4.2
HFXI	IQ FTSE International Equity Currency Neutral ETF	0.2	20	38	6.0	-0.4
DFIV	Dimensional International Value ETF	0.2	27	31	8.1	+1.7
TINY	ProShares Nanotechnology ETF	0.2	58	0	2.7	-3.8
GINN	Goldman Sachs Innovate Equity ETF	0.2	52	6	3.3	-3.2
WRND	IQ Global Equity R&D Leaders ETF	0.1	18	40	6.7	+0.3
BOAT	SonicShares Global Shipping ETF	0.1	69	-11	25.3	+18.9
HART	IQ Healthy Hearts ETF	0.1	45	13	5.4	-1.1
FEOE	First Eagle Overseas Equity ETF	0.1	79	-21	6.0	-0.5
ITOL	Tema International Durable Quality ETF	0.1	60	-2	4.8	-1.6
SOCL	Global X Social Media ETF	0.1	65	-7	9.4	+3.0
RWX	SPDR Dow Jones International Real Estate ETF	0.1	59	-1	6.6	+0.1
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	0.1	9	49	5.0	-1.5
AVIV	Avantis International Large Cap Value ETF	0.1	25	33	7.5	+1.0
BETZ	Roundhill Sports Betting & iGaming ETF	0.1	75	-17	2.3	-4.1
DTAN	Sparkline International Intangible Value ETF	0.1	55	3	7.5	+1.1
ZSB	USCF Sustainable Battery Metals Strategy Fund	0.1	61	-3	4.1	-2.3
AGNG	Global X Aging Population ETF	0.1	50	8	4.0	-2.4
IFGL	iShares International Developed Real Estate ETF	0.1	48	10	6.6	+0.1
BOTZ	Global X Robotics & Artificial Intelligence ETF	0.1	69	-11	1.7	-4.7
RWO	SPDR Dow Jones Global Real Estate ETF	0.1	50	8	6.6	+0.1
WOOD	iShares Global Timber & Forestry ETF	0.1	42	16	11.8	+5.3
DIHP	Dimensional International High Profitability ETF	0.1	29	29	5.8	-0.6
AQWA	Global X Clean Water ETF	0.1	50	8	4.6	-1.9
CGW	Invesco S&P Global Water Index ETF	0.1	57	1	4.3	-2.2
BOTT	Themes Robotics & Automation ETF	0.1	35	23	-1.2	-7.7
ERET	iShares Environmentally Aware Real Estate ETF	0.0	30	28	7.0	+0.5
DEW	WisdomTree Global High Dividend Fund	0.0	58	0	7.6	+1.1
WISE	Themes Generative Artificial Intelligence ETF	0.0	35	23	-0.4	-6.9
GLOF	iShares Global Equity Factor ETF	0.0	20	38	6.0	-0.4
IGPT	Invesco AI and Next Gen Software ETF	0.0	60	-2	3.4	-3.1
AIQ	Global X Artificial Intelligence & Technology ETF	0.0	68	-10	3.0	-3.4
BUG	Global X Cybersecurity ETF	0.0	51	7	2.7	-3.7
IHAK	iShares Cybersecurity & Tech ETF	0.0	47	11	4.0	-2.5
SPAM	Themes Cybersecurity ETF	0.0	35	23	2.6	-3.9
IQSI	IQ Candriam International Equity ETF	0.0	15	43	5.7	-0.8
XT	iShares Exponential Technologies ETF	0.0	46	12	4.3	-2.2
BKIE	BNY Mellon International Equity ETF	0.0	4	54	6.1	-0.4
GSID	Goldman Sachs MarketBeta International Equity ETF	0.0	20	38	5.9	-0.6
GXUS	Goldman Sachs MarketBeta Total International Equity ETF	0.0	18	40	6.5	+0.1

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	WisdomTree Japan SmallCap Dividend Fund
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	7.2	%
Divided by: Fwd. P/BV	1.0	x
Less: Expense ratio	58	bp
Equals: ALTAR Score	6.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.76	CATEGORY AVERAGE	1.64

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.