FJP vs. OPPJ
FJP (First Trust Japan AlphaDEX Fund) and OPPJ (WisdomTree Japan Opportunities ETF) are both Japan Equities funds - FJP tracks the NASDAQ AlphaDEX Japan Index while OPPJ tracks the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, FJP returned 7.48%/yr vs 17.36%/yr for OPPJ. A 0.72 correlation means they provide meaningful diversification when combined. FJP charges 0.80%/yr vs 0.58%/yr for OPPJ.
Performance
FJP vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, FJP achieves a 14.28% return, which is significantly lower than OPPJ's 26.16% return. Over the past 10 years, FJP has underperformed OPPJ with an annualized return of 7.48%, while OPPJ has yielded a comparatively higher 17.36% annualized return.
FJP
- 1D
- 0.00%
- 1M
- 2.90%
- YTD
- 14.28%
- 6M
- 15.85%
- 1Y
- 33.53%
- 3Y*
- 21.60%
- 5Y*
- 10.81%
- 10Y*
- 7.48%
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%
FJP vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FJP First Trust Japan AlphaDEX Fund | 14.28% | 33.60% | 5.80% | 23.00% | -12.83% | -1.13% | 3.60% | 7.72% | -18.60% | 27.63% |
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 FJP and OPPJ is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2013 | 0.72 |
The correlation between FJP and OPPJ shifts across timeframes, from 0.63 (5 years) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FJP vs. OPPJ — Risk / Return Rank
FJP
OPPJ
FJP vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Japan AlphaDEX Fund (FJP) 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.
| FJP | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.55 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 6.65 | -4.31 |
| Martin ratioReturn relative to average drawdown | 7.20 | 23.90 | -16.70 |
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
| FJP | OPPJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 3.33 | -1.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 1.40 | -0.87 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.88 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.76 | -0.43 |
Drawdowns
FJP vs. OPPJ - Drawdown Comparison
The maximum FJP drawdown since its inception was -41.51%, which is greater than OPPJ's maximum drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for FJP and OPPJ.
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Drawdown Indicators
| FJP | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.51% | -39.30% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -14.43% | -9.82% | -4.61% |
Max Drawdown (3Y)Largest decline over 3 years | -17.02% | -16.49% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -31.88% | -16.49% | -15.39% |
Max Drawdown (10Y)Largest decline over 10 years | -41.51% | -39.30% | -2.21% |
Current DrawdownCurrent decline from peak | -6.34% | -4.27% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -6.49% | -4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 2.73% | +1.94% |
Volatility
FJP vs. OPPJ - Volatility Comparison
First Trust Japan AlphaDEX Fund (FJP) has a higher volatility of 6.51% compared to WisdomTree Japan Opportunities ETF (OPPJ) at 5.08%. This indicates that FJP'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
| FJP | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.51% | 5.08% | +1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 16.87% | 15.39% | +1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.70% | 19.64% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 18.05% | +2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.88% | 19.71% | -0.83% |
FJP vs. OPPJ - Expense Ratio Comparison
FJP has a 0.80% expense ratio, which is higher than OPPJ's 0.58% expense ratio.
Dividends
FJP vs. OPPJ - Dividend Comparison
FJP's dividend yield for the trailing twelve months is around 2.49%, more than OPPJ's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FJP First Trust Japan AlphaDEX Fund | 2.49% | 2.68% | 3.18% | 3.49% | 2.21% | 2.43% | 0.99% | 2.80% | 1.54% | 1.29% | 1.46% | 0.85% |
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
FJP and OPPJ have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FJP has higher volatility (6.51%) compared to OPPJ (5.08%). In terms of maximum drawdown, FJP dropped -41.51% vs OPPJ's -39.30%.
On 10-year performance, OPPJ leads with 17.36% vs 7.48% for FJP. On fees, OPPJ is cheaper at 0.58% per year. On volatility, OPPJ has been the lower-risk option at 5.08%. 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 7.48%. 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 0.80% for FJP.
FJP has the higher dividend yield at 2.49%, compared with 1.50% for OPPJ.
FJP tracks NASDAQ AlphaDEX Japan Index, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.80% for FJP and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (3.33 vs 1.63), 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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