AIRR vs. OPPJ
AIRR (First Trust RBA American Industrial Renaissance ETF) and OPPJ (WisdomTree Japan Opportunities ETF) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, AIRR returned 22.05%/yr vs 17.80%/yr for OPPJ. At a 0.48 correlation, their price movements are largely independent. AIRR charges 0.69%/yr vs 0.58%/yr for OPPJ.
Performance
AIRR vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, AIRR achieves a 31.74% return, which is significantly higher than OPPJ's 26.23% return. Over the past 10 years, AIRR has outperformed OPPJ with an annualized return of 22.05%, while OPPJ has yielded a comparatively lower 17.80% annualized return.
AIRR
- 1D
- 0.83%
- 1M
- -1.26%
- YTD
- 31.74%
- 6M
- 28.77%
- 1Y
- 67.12%
- 3Y*
- 35.29%
- 5Y*
- 25.46%
- 10Y*
- 22.05%
OPPJ
- 1D
- 1.04%
- 1M
- -4.22%
- YTD
- 26.23%
- 6M
- 27.08%
- 1Y
- 64.16%
- 3Y*
- 33.91%
- 5Y*
- 25.20%
- 10Y*
- 17.80%
AIRR vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 31.74% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
OPPJ WisdomTree Japan Opportunities ETF | 26.23% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between AIRR and OPPJ is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014 | 0.48 |
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Return for Risk
AIRR vs. OPPJ — Risk / Return Rank
AIRR
OPPJ
AIRR vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and WisdomTree Japan Opportunities ETF (OPPJ). 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.
| AIRR | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.53 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.01 | 6.58 | -1.57 |
| Martin ratioReturn relative to average drawdown | 18.33 | 22.36 | -4.03 |
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Drawdowns
AIRR vs. OPPJ - Drawdown Comparison
The maximum AIRR drawdown since its inception was -42.37%, which is greater than OPPJ's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for AIRR and OPPJ.
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Drawdown Indicators
| AIRR | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.37% | -39.30% | -3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.09% | -9.82% | -3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -27.95% | -16.49% | -11.46% |
Max Drawdown (5Y)Largest decline over 5 years | -27.95% | -16.49% | -11.46% |
Max Drawdown (10Y)Largest decline over 10 years | -42.37% | -39.30% | -3.07% |
Current DrawdownCurrent decline from peak | -1.89% | -4.22% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -6.49% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.89% | +0.68% |
Volatility
AIRR vs. OPPJ - Volatility Comparison
First Trust RBA American Industrial Renaissance ETF (AIRR) has a higher volatility of 9.32% compared to WisdomTree Japan Opportunities ETF (OPPJ) at 5.83%. This indicates that AIRR's price experiences larger fluctuations and is considered to be riskier than OPPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AIRR | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | 5.83% | +3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 15.99% | +4.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.19% | 20.10% | +6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.45% | 18.15% | +7.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.36% | 19.73% | +6.63% |
AIRR vs. OPPJ - Expense Ratio Comparison
AIRR has a 0.69% expense ratio, which is higher than OPPJ's 0.58% expense ratio.
Dividends
AIRR vs. OPPJ - Dividend Comparison
AIRR's dividend yield for the trailing twelve months is around 0.13%, less than OPPJ's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
OPPJ WisdomTree Japan Opportunities ETF | 1.50% | 1.78% | 4.02% | 2.71% | 2.63% | 2.96% | 3.04% | 2.17% | 2.06% | 1.53% | 1.66% | 3.61% |
Frequently Asked Questions
AIRR and OPPJ have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (9.32%) compared to OPPJ (5.83%). In terms of maximum drawdown, AIRR dropped -42.37% vs OPPJ's -39.30%.
On 10-year performance, AIRR leads with 22.05% vs 17.80% for OPPJ. On fees, OPPJ is cheaper at 0.58% per year. On volatility, OPPJ has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AIRR has performed better with a 22.05% return vs 17.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPPJ is cheaper with a 0.58% expense ratio, compared with 0.69% for AIRR.
OPPJ has the higher dividend yield at 1.50%, compared with 0.13% for AIRR.
AIRR is categorized as Building & Construction, while OPPJ is Japan Equities. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.69% for AIRR and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (3.22 vs 2.50), 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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