IPAC vs. OPPJ
IPAC (iShares Core MSCI Pacific ETF) and OPPJ (WisdomTree Japan Opportunities ETF) are both exchange-traded funds - IPAC is a Asia Pacific Equities fund tracking the MSCI Pacific Investable Market Index, while OPPJ is a Japan Equities fund tracking the WisdomTree Japan Opportunities Index. Both are passively managed. Over the past 10 years, IPAC returned 8.77%/yr vs 17.19%/yr for OPPJ. A 0.71 correlation means they provide meaningful diversification when combined. IPAC charges 0.09%/yr vs 0.58%/yr for OPPJ.
Performance
IPAC vs. OPPJ - Performance Comparison
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Returns By Period
In the year-to-date period, IPAC achieves a 13.28% return, which is significantly lower than OPPJ's 23.60% return. Over the past 10 years, IPAC has underperformed OPPJ with an annualized return of 8.77%, while OPPJ has yielded a comparatively higher 17.19% annualized return.
IPAC
- 1D
- -1.50%
- 1M
- 0.55%
- 6M
- 8.51%
- YTD
- 13.28%
- 1Y
- 27.10%
- 3Y*
- 15.99%
- 5Y*
- 7.79%
- 10Y*
- 8.77%
OPPJ
- 1D
- -2.10%
- 1M
- -2.08%
- 6M
- 14.84%
- YTD
- 23.60%
- 1Y
- 59.51%
- 3Y*
- 33.02%
- 5Y*
- 24.42%
- 10Y*
- 17.19%
IPAC vs. OPPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPAC iShares Core MSCI Pacific ETF | 13.28% | 25.16% | 6.18% | 14.51% | -13.68% | 3.09% | 12.39% | 19.44% | -12.78% | 25.97% |
OPPJ WisdomTree Japan Opportunities ETF | 23.60% | 37.08% | 20.70% | 38.96% | 5.02% | 11.66% | -3.22% | 18.24% | -18.69% | 29.56% |
Correlation
The correlation between IPAC and OPPJ is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | 0.71 |
The correlation between IPAC and OPPJ shifts across timeframes, from 0.65 (5 years) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IPAC vs. OPPJ — Risk / Return Rank
IPAC
OPPJ
IPAC vs. OPPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ETF (IPAC) 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.
| IPAC | OPPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 6.09 | -3.72 |
| Martin ratioReturn relative to average drawdown | 8.37 | 19.33 | -10.95 |
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Drawdowns
IPAC vs. OPPJ - Drawdown Comparison
The maximum IPAC drawdown since its inception was -30.99%, smaller than the maximum OPPJ drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for IPAC and OPPJ.
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Drawdown Indicators
| IPAC | OPPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.99% | -39.30% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -9.82% | -1.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | -16.49% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -29.64% | -16.49% | -13.15% |
Max Drawdown (10Y)Largest decline over 10 years | -30.99% | -39.30% | +8.31% |
Current DrawdownCurrent decline from peak | -2.53% | -6.21% | +3.68% |
Average DrawdownAverage peak-to-trough decline | -7.43% | -6.48% | -0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.09% | +0.15% |
Volatility
IPAC vs. OPPJ - Volatility Comparison
The current volatility for iShares Core MSCI Pacific ETF (IPAC) is 5.94%, while WisdomTree Japan Opportunities ETF (OPPJ) has a volatility of 8.02%. This indicates that IPAC 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
| IPAC | OPPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.94% | 8.02% | -2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 17.12% | -2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.38% | 21.04% | -3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.81% | 18.31% | -1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.60% | 19.55% | -2.95% |
IPAC vs. OPPJ - Expense Ratio Comparison
IPAC has a 0.09% expense ratio, which is lower than OPPJ's 0.58% expense ratio.
Dividends
IPAC vs. OPPJ - Dividend Comparison
IPAC's dividend yield for the trailing twelve months is around 3.90%, more than OPPJ's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IPAC iShares Core MSCI Pacific ETF | 3.90% | 4.32% | 3.43% | 3.16% | 2.76% | 4.03% | 1.68% | 3.37% | 2.95% | 2.98% | 2.66% | 2.60% |
OPPJ WisdomTree Japan Opportunities ETF | 1.13% | 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
IPAC and OPPJ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OPPJ has higher volatility (8.02%) compared to IPAC (5.94%). In terms of maximum drawdown, IPAC dropped -30.99% vs OPPJ's -39.30%.
On 10-year performance, OPPJ leads with 17.19% vs 8.77% for IPAC. On fees, IPAC is cheaper at 0.09% per year. On volatility, IPAC has been the lower-risk option at 5.94%. 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 17.19% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAC is cheaper with a 0.09% expense ratio, compared with 0.58% for OPPJ.
IPAC has the higher dividend yield at 3.90%, compared with 1.13% for OPPJ.
IPAC is categorized as Asia Pacific Equities, while OPPJ is Japan Equities. IPAC tracks MSCI Pacific Investable Market Index, while OPPJ tracks WisdomTree Japan Opportunities Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.09% for IPAC and 0.58% for OPPJ.
OPPJ currently has the higher Sharpe Ratio (2.85 vs 1.57), 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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