DFJ vs. OPPJ
DFJ (WisdomTree Japan SmallCap Dividend Fund) and OPPJ (WisdomTree Japan Opportunities ETF) are both Japan Equities funds from WisdomTree - DFJ tracks the WisdomTree Japan SmallCap Dividend Index while OPPJ tracks the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, DFJ returned 8.70%/yr vs 17.36%/yr for OPPJ. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.58% expense ratio.
Performance
DFJ vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, DFJ achieves a 9.06% return, which is significantly lower than OPPJ's 26.16% return. Over the past 10 years, DFJ has underperformed OPPJ with an annualized return of 8.70%, while OPPJ has yielded a comparatively higher 17.36% annualized return.
DFJ
- 1D
- -0.46%
- 1M
- 2.01%
- YTD
- 9.06%
- 6M
- 12.58%
- 1Y
- 26.81%
- 3Y*
- 18.99%
- 5Y*
- 9.51%
- 10Y*
- 8.70%
OPPJ
- 1D
- -0.02%
- 1M
- 2.99%
- YTD
- 26.16%
- 6M
- 32.96%
- 1Y
- 64.97%
- 3Y*
- 34.91%
- 5Y*
- 25.18%
- 10Y*
- 17.36%
DFJ vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 9.06% | 31.90% | 2.80% | 21.81% | -9.00% | 0.38% | 1.29% | 16.98% | -18.53% | 32.14% |
OPPJ WisdomTree Japan Opportunities ETF | 26.16% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between DFJ and OPPJ is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 0.78 |
The correlation between DFJ and OPPJ has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.
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Return for Risk
DFJ vs. OPPJ — Risk / Return Rank
DFJ
OPPJ
DFJ vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan SmallCap Dividend Fund (DFJ) 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.
| DFJ | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.55 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 6.65 | -4.58 |
| Martin ratioReturn relative to average drawdown | 6.01 | 23.90 | -17.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DFJ | OPPJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.65 | 3.33 | -1.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 1.40 | -0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.88 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.76 | -0.45 |
Drawdowns
DFJ vs. OPPJ - Drawdown Comparison
The maximum DFJ drawdown since its inception was -46.00%, which is greater than OPPJ's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for DFJ and OPPJ.
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Drawdown Indicators
| DFJ | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.00% | -39.30% | -6.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -9.82% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -16.49% | +3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -16.49% | -13.22% |
Max Drawdown (10Y)Largest decline over 10 years | -40.02% | -39.30% | -0.72% |
Current DrawdownCurrent decline from peak | -6.92% | -4.27% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -11.15% | -6.49% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 2.73% | +1.74% |
Volatility
DFJ vs. OPPJ - Volatility Comparison
The current volatility for WisdomTree Japan SmallCap Dividend Fund (DFJ) is 4.15%, while WisdomTree Japan Opportunities ETF (OPPJ) has a volatility of 5.08%. This indicates that DFJ experiences smaller price fluctuations and is considered to be less risky 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
| DFJ | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 5.08% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 15.39% | -1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 19.64% | -3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.89% | 18.05% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.95% | 19.71% | -2.76% |
DFJ vs. OPPJ - Expense Ratio Comparison
Both DFJ and OPPJ have an expense ratio of 0.58%.
Dividends
DFJ vs. OPPJ - Dividend Comparison
DFJ's dividend yield for the trailing twelve months is around 2.44%, more than OPPJ's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFJ WisdomTree Japan SmallCap Dividend Fund | 2.44% | 2.68% | 2.46% | 2.43% | 2.62% | 2.07% | 2.59% | 2.24% | 1.89% | 1.60% | 1.76% | 1.23% |
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
DFJ and OPPJ have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPJ has higher volatility (5.08%) compared to DFJ (4.15%). In terms of maximum drawdown, DFJ dropped -46.00% vs OPPJ's -39.30%.
On 10-year performance, OPPJ leads with 17.36% vs 8.70% for DFJ. Both ETFs have the same 0.58% expense ratio. On volatility, DFJ has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, OPPJ has performed better with a 17.36% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFJ and OPPJ have the same expense ratio: 0.58% per year.
DFJ has the higher dividend yield at 2.44%, compared with 1.50% for OPPJ.
DFJ tracks WisdomTree Japan SmallCap Dividend Index, while OPPJ tracks WisdomTree Japan Opportunities Index.
OPPJ currently has the higher Sharpe Ratio (3.33 vs 1.65), 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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