DXJS vs. OPPJ
DXJS (WisdomTree Japan Hedged SmallCap Equity Fund) and OPPJ (WisdomTree Japan Opportunities ETF) are both Japan Equities funds from WisdomTree - DXJS tracks the WisdomTree Japan Hedged SmallCap Equity Index while OPPJ tracks the WisdomTree Japan Opportunities Index. Both are passively managed. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.58% expense ratio.
Performance
DXJS vs. OPPJ - Performance Comparison
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Returns By Period
DXJS
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OPPJ
- 1D
- -2.04%
- 1M
- -3.76%
- 6M
- 11.89%
- YTD
- 22.94%
- 1Y
- 60.73%
- 3Y*
- 32.84%
- 5Y*
- 24.53%
- 10Y*
- 17.08%
DXJS vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 23.30% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
OPPJ WisdomTree Japan Opportunities ETF | 22.94% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between DXJS and OPPJ is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2013 | 0.99 |
The correlation between DXJS and OPPJ has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.
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Return for Risk
DXJS vs. OPPJ — Risk / Return Rank
DXJS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
OPPJ
DXJS vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) 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.
| DXJS | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.48 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.21 | — |
| Martin ratioReturn relative to average drawdown | — | 19.42 | — |
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Drawdowns
DXJS vs. OPPJ - Drawdown Comparison
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Drawdown Indicators
| DXJS | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -39.30% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.82% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.30% | — |
Current DrawdownCurrent decline from peak | — | -6.71% | — |
Average DrawdownAverage peak-to-trough decline | — | -6.48% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.14% | — |
Volatility
DXJS vs. OPPJ - Volatility Comparison
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Volatility by Period
| DXJS | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 17.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 20.93% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 18.33% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 19.56% | — |
DXJS vs. OPPJ - Expense Ratio Comparison
Both DXJS and OPPJ have an expense ratio of 0.58%.
Dividends
DXJS vs. OPPJ - Dividend Comparison
DXJS has not paid dividends to shareholders, while OPPJ's dividend yield for the trailing twelve months is around 1.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DXJS WisdomTree Japan Hedged SmallCap Equity Fund | 0.53% | 1.78% | 4.02% | 2.71% | 2.63% | 2.96% | 3.04% | 2.17% | 2.06% | 1.53% | 1.66% | 3.61% |
OPPJ WisdomTree Japan Opportunities ETF | 1.14% | 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
With a correlation of 0.92, DXJS and OPPJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.58% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DXJS and OPPJ have the same expense ratio: 0.58% per year.
OPPJ has the higher dividend yield at 1.14%, compared with 0.53% for DXJS.
DXJS tracks WisdomTree Japan Hedged SmallCap Equity Index, while OPPJ tracks WisdomTree Japan Opportunities Index.
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